2.3 Years Of Supply Above $4M Is Sitting Pretty In West Van

Roughly 2.3 Years Of Supply Above $4M Is Sitting (Pretty, Probably) In West Van

Sotheby's International Realty Canada's 20-year look at West Vancouver sales finds the median price has reached $3.1 million only a few times. As of September 1, 195 residential properties were listed above $4 million on MLS.

September 30, 2026

10:10 AM

In March 2025, despite a prolonged slowdown in regional sales activity, West Vancouver's median residential sale price reached $3,381,500. It was the highest level in the past two decades.

According to Sotheby's International Realty Canada, that peak reflected sellers' continued resistance to compromise on price, even with market conditions muted.

This fall, the brokerage says, West Vancouver's luxury market sits firmly in buyer's territory.

Sotheby's released the numbers as it marks 20 years in West Vancouver. Over that stretch, the median residential sale price on MLS nearly doubled, from $1,215,000 in September 2006 to $2,375,000 in August 2026.

The path between those two figures wasn't a straight one. According to Sotheby's, the median reached or exceeded $3.1 million only a few times in those 20 years.

In February and March 2016, it rose to $3,102,500 and $3,136,405, respectively. The B.C. government later introduced a 15% property transfer tax on residential purchases by foreign nationals and foreign-controlled corporations to cool the market.

The median didn't reach $3.1 million again until April 2017, when it hit $3,100,000.

In May 2022, driven by surging demand amid pandemic-related housing trends, it reached $3,085,000, just short of the mark. It didn't peak again until March 2025.

At $4 million and up, sales are down 25% year over year. From January 1 to August 30, 2026, 57 West Vancouver properties sold at that level on MLS, compared with 76 over the same period in 2025.

"The West Vancouver luxury market continues to favour buyers this fall. To put things in perspective, there were 195 residential properties listed above $4 million on MLS as of September 1. Based on this year's rate of sale, that is approximately 2.3 years of supply on the market," Kevin O'Toole, Managing Broker with Sotheby's International Realty Canada for Greater Vancouver, said in a release.

"With an abundance of competing listings in the top-tier market, sellers need to be realistic with their pricing expectations, conditions and timeframes to attract qualified buyers," O'Toole said.

Not every sale above $4 million goes through MLS. Sotheby's analysis of land title and MLS records from January 2024 to August 2026 found that one in seven West Vancouver properties above $4 million sells without ever appearing on MLS.

Even so, the brokerage maintains that, given current market conditions, broader public marketing on MLS, combined with strategic private network outreach, is key to attracting qualified purchasers.

"In today's luxury market, where supply exceeds demand, our real estate advisors are encouraging sellers to take a broad-based approach that combines targeted outreach with strategic exposure across premier media, as well as on MLS, to attract the right buyer," said Elaine Hung, Chief Marketing Officer, Sotheby's International Realty Canada.

When the median hit its 20-year high in March 2025, Sotheby's read it as sellers resisting compromise on price. For sellers in the top tier this fall, the brokerage's advice is to be realistic.

Real Estate News

Roughly 2.3 Years Of Supply Above $4M Is Sitting (Pretty, Probably) In West Van

Sotheby's International Realty Canada's 20-year look at West Vancouver sales finds the median price has reached $3.1 million only a few times. As of September 1, 195 residential properties were listed above $4 million on MLS.

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Four Southern Alberta master-planned communities. One builder with a vision for how neighbourhoods should actually feel.

Alliance Homes, Berkstar, and Rose Sutton LP have been developing a 312-unit project near Lake Simcoe, some of which have already been completed and sold.

The city needs 50% more housing starts a year to restore affordability over the next decade, and CMHC's new national report shows ownership construction stalling in Vancouver, too.

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The 18-hole Delta Golf & Country Club at 11550 Ladner Truck Road in Delta was placed under receivership on December 15, 2025.

"Governments deserve credit for the progress already made. But housing affordability will not be restored through half-measures or temporary programs."

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