April Market Recap

The benchmark price (HPI) for all residential properties on the Sunshine Coast has declined to $794,500, down 4.9% year-over-year and from $821,800 in March—putting us back at price points not seen since September 2021. Total inventory has jumped to 541 active listings, a 16.6% increase over last year and up from 457 active listings in March. New listings reached 195, up 18% year-over-year. Sales fell to 53 down 18.5% from April 2024 and marking one of the lowest Aprils since 2020. Early May numbers suggest the trend will continue, with only 20 sales recorded by mid-month, compared to 60 in May 2024..

Metro Vancouver saw a similar trend in April, with sales down 23.6% year-over-year and the sales-to-active listings ratio falling to 13.8%—edging the region into a buyer-skewed market. Inventory there has climbed to 16,207 active listings, the highest since 2014. Despite these conditions and improved borrowing rates, many buyers remain on the sidelines due to economic and political uncertainty, including the upcoming federal election and volatile global trade policy.

The Sunshine Coast market often lags a few months behind Vancouver, but it also mirrors its trends—especially when activity slows on the mainland. The sharp decline in Vancouver sales has ripple effects here, particularly in our second-home and retirement markets. Many Sunshine Coast buyers are equity-based, relying on sales in the Lower Mainland to fund their purchases here. With Metro Vancouver softening, we're seeing slower decision-making and a more cautious, value-driven buyer profile on the Coast.

Detached properties continue to represent the bulk of the activity, though they’re showing substantial softening.

The benchmark price fell to $840,000, down 5.6% from last year and from $873,600 in March.

Inventory climbed to 455 listings, up 13.2% year-over-year.

New listings came in at 169, a 19% increase over April 2024.

Sales totaled 41, down 21.6% from last year—but up from 31 in March, following the typical seasonal trend.

While activity has increased slightly, the elevated inventory and slower demand continue to give buyers the advantage. Sellers will need to remain flexible and realistic on pricing.

Apartments are showing signs of relative stability within a cooling market.

The benchmark price is now $507,500, down 4.5% from last year but up slightly from March.

Inventory sits at 43 active listings, a 48.3% increase from April 2024, though slightly down from 48 the previous month. New listings dipped to 12, from 17 in March.

Sales showed a modest rebound, with 7 apartments sold, up from 2 in March and 16.7% higher than the same month last year.

This segment is moving toward more balanced conditions, with buyers still able to negotiate but less pressure on sellers than in detached homes.

The townhome market continues to show volatility, with fewer transactions and higher relative inventory. The benchmark price dropped to $753,700, down 3.8% year-over-year and from $766,700 in March. There were 10 new listings, up slightly from 9 in March but down 9.1% year-over-year.

Inventory has grown to 35 active listings, up from 30 the previous month and 25% higher than last year. Sales remained low at just 6, down from 8 sold in April 2024, though higher than 3 sold in March.

Despite modest price declines, limited buyer activity suggests this segment is tipping further into buyer's market territory. Sellers should consider staging, updates, and pricing adjustments to stand out.

Looking ahead, rising inventory, softening prices, and slower sales all suggest buyer-friendly conditions will persist into summer. Although borrowing costs are lower than they’ve been in years, broader economic anxiety—including ongoing U.S. trade policy tensions, and inflation concerns - is weighing on consumer confidence.

The next Bank of Canada interest rate announcement is scheduled for June 5, and many are watching for a possible rate cut. Such a move could improve affordability and boost buyer activity—but in the meantime, we expect continued hesitation and longer decision timelines.

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If you’re wondering how this affects your real estate goals—or want to explore strategic options for buying or selling in this shifting market—reach out. We’re always here to help you navigate the next step.