An Appraiser’s Deep Dive into MVR’s Velocity and Value Pockets
- Downtown
- Vancouver West
- Vancouver East
- North Vancouver
- West Vancouver
- Richmond
- Tsawwassen
- Ladner
As an appraiser, my focus isn’t on average prices but on market velocity and depth—how quickly inventory is absorbed and where competition is fiercest. The October 2025 data for Metro Vancouver confirms a tale of two distinct dynamics: a sharp correction at the luxury end, contrasted with an unprecedented sprint in the attached market.
The Luxury Recalibration: Detached Homes
The detached market is broadly settled in Buyer’s Market territory (Sales Ratios below 10%) across most high-value areas, but that doesn’t mean everything is slow.
- West Vancouver & Richmond: The Price Reset. Both municipalities saw significant median price declines, making them prime targets for selective buyers. West Vancouver dropped a staggering 15% to a median of $2,710,000 (8% SR), and Richmond fell an identical 15% to $1,728,000 (9% SR). This indicates that the market is shedding over-priced luxury inventory.
- The Velocity Anomaly: Despite the soft overall trend, hyper-specific price points are selling fast. In West Van, detached homes in the $2.0M to $2.25M band are moving rapidly with a 50% Sales Ratio (an extreme Seller’s Market). Similarly, Richmond’s action is concentrated at the lower end, with the $1.25M to $1.5M bracket hitting 41% SR.
- Vancouver Westside’s Price Resilience: In contrast, Westside detached prices bounced back 9% to $3,180,500, showing fundamental strength at the upper end, even as it remains a Buyer’s Market (9% SR).
The Speed Zone: Attached Market Intensity
The attached market (condos and townhomes) is the undeniable engine of MVR, marked by lower inventory, rising prices, and rapidly shrinking timelines. Many segments are now firm Seller’s Markets.
- North and East Vancouver: The Sprint Leaders. These markets show the greatest velocity gains:
- North Vancouver Attached (19% SR): Median price rose 8% to $928,500, but critically, the average Days on Market (DOM) plummeted 50% to just 14 days. Units in the $700K-$800K band are in a Seller’s Market (30% SR).
- Eastside Attached (21% SR): Median price climbed 9% to $710,000. The DOM dropped by a massive 53% to 15 days. Demand is intense in the sub-$500K range, but the hottest segment is three-bedroom units, boasting a 27% SR.
- Tsawwassen and Ladner Townhomes Take Off. In the South Delta region, the attached market is exceptionally competitive. Ladner Attached hit a powerful 29% SR (Seller’s Market), with prices up 13% to $904,666. The $900K – $1.0M segment here is aggressive (50% SR). Tsawwassen attached (22% SR) is similarly competitive in the lower price bands.
- Vancouver Downtown & Westside Condos Stabilize. Despite a slight median price dip in Downtown (-10% MoM), both Downtown and Westside attached markets are highly liquid (13% and 18% SR, respectively). Speed is the story here, with units selling in about 20 days across both regions, confirming strong underlying demand.
Appraiser’s Prescription for November
The Metro Vancouver market is now defined by the gap between list price and actual market value.
For Buyers: This is the best time in months to negotiate on high-end detached homes in Richmond and West Vancouver, particularly those sitting above the “hot price bands.” Use the high inventory and low sales ratio to press for a 5% to 9% discount from the list price.
For Sellers: Price aggressively and accurately in the attached market. In North Vancouver and Eastside attached segments, you have the upper hand—pricing exactly at market will generate competition quickly (expect a sale in two weeks or less). For detached properties, price your listing within the identified high-velocity price bands for your area (e.g., Richmond’s $1.25M-$1.5M) to maximize your chances of a quick, competitive sale.
If you need an accurate valuation for your property, do not hesitate to contact us.
Adlaw Appraisasals Ltd.