In May, West Side detached home sales in Vancouver jumped 53% year over year. At the same time, the benchmark price is still down 8.5% from a year ago.

Those two numbers shouldn't both be true at once. The reason they are tells you almost everything about where this market actually stands right now — Vancouver doesn't have one housing market this month. It has several, and they're moving in completely different directions.

What the Data Is Actually Telling Us

Each month, two data sets get pulled together to build a full picture of the city: GVR REALTOR® Reports for year-over-year benchmarks, and SnapStats Metro Vancouver for neighbourhood-level speed and volume. This month, those two pictures diverge depending on which slice of the market you're looking at.

The honest answer to "is the market recovering?" is: it depends entirely on which market you're asking about. Spring also brings more listings onto the market every year — some of that is simply the calendar, not a signal on its own.

Sales Are Up. Prices Are Still Down.

Detached home sales are surging year over year — Vancouver West up 52.9%, Vancouver East up 28.2%. That's real buyer activity, not a blip.

But benchmark prices are still down 8–10% from a year ago:

• Vancouver West Detached: $3,025,000 (-8.5%)

• Vancouver East Detached: $1,654,900 (-9.7%)

Buyers are back. They're just not bidding up.

Condos tell a different story. Vancouver West condo sales are down 5.9% year over year — despite active listings dropping nearly 22%. There's less supply, and sales are still falling.

Two Markets, Two Different Stages

Here's what's actually happening: detached and condo buyers have reached completely different stages of price acceptance.

Detached buyers have done the math. At an 8–9% discount from last year, enough of them are pulling the trigger that sales volume is climbing. The floor feels close.

Condo buyers haven't gotten there yet. East Side condo days on market are up 41% year over year — 34 days to sell now versus 24 a year ago. Buyers are watching and qualifying, not acting.

Neighbourhood by Neighbourhood

Citywide averages hide real variation — and that's where your decision actually lives.

Downtown sits at a 13% sales ratio overall (balanced), but it varies block by block:

• Yaletown: 16%

• Coal Harbour: 13%

• West End: 12%

• Downtown core: 12%

• $600K–$700K band: 23% — a seller's market inside a balanced one

• $1.75M–$2.5M band: the softest segment downtown, real room to negotiate

East Side condos are running hotter than downtown or the West Side — 18% sales ratio overall. Mount Pleasant: 23%. Grandview-Woodland: 22%.

West Side condos are split. Fairview and Kitsilano are both at 25% — genuine seller's market territory. Marpole, Oakridge, and Point Grey are all sitting at 6% — real negotiating room for buyers.

One number worth flagging on its own: North Vancouver's median attached price jumped to $1,018,000 in April, up 18% from March. One month isn't a trend, but it's worth watching.

What This Means for You

• Buying detached? You're stepping into a segment with real momentum, and prices are still down from last year. That's leverage that may not last if this trend continues — that's a pattern I'm watching, not a prediction.

• Buying a condo? It depends where. Tight in Fairview, Kitsilano, and the $600K–$700K downtown band. More room in Marpole, Oakridge, Point Grey, and the $1.75M–$2.5M downtown range.

• Selling a condo? Buyers exist, but they're patient. Price sharp from day one — an overpriced condo doesn't slowly correct anymore, it just expires.

• Selling detached on the West Side? This may be your best window in 18 months. Sales are up 53%, but buyers are disciplined — meeting the market still matters.

Vancouver doesn't have one housing market right now. It has several — and your strategy depends entirely on which one you're actually in.

For the full neighbourhood-by-neighbourhood breakdown and the data behind it, watch the full video here. And if you want to talk through what these numbers mean for your specific situation, book a quick call — happy to go through the actual numbers with you.