At the current rate of sales, there are 2.3 years of supply of homes priced above $4 million in West Vancouver and, according to Sotheby’s International Realty, that puts those homes firmly in buyers’ territory.
The Greater Vancouver area has the dubious distinction of being home to the most expensive homes in Canada, with the average price in Metro Vancouver coming in between $1.1 million and $1.3 million.
West Vancouver, a separate municipality, makes the metro average price range look inexpensive, with some homes ranging between $40 million and more than $70 million.
Sotheby’s says the median home sales price in West Van reached $3,381,500 in March 2025, a number the real estate brokerage says reflected the resistance of sellers to lower listed prices, even though the market has slowed from the red-hot days of extremely low interest rates.
Sotheby's has been in West Van for 20 years and documented the median sales price in 2006 averaged $1,215,000, which almost doubled to $2,375,000 in August 2026.
The median price reached or exceeded $3.1 million only a few times in those 20 years, reaching $3,102,500 in February 2016 and $3,136,405 a month later, but didn’t crest the $3,000,000 mark again until April 2017 when it hit $3,100,000.
“At $4 million and up, sales are down 25% year-over-year,” said Kevin O’Toole, managing broker with Sotheby’s International realty Canada for Greater Vancouver, in a release. “From Jan. 1 to Aug. 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,” added Otoole. “To put things in perspective, there were 195 residential properties listed above $4 million on MLS as of Sept. 1. Based on this year's rate of sales, that is approximately 2.3 years of supply on the market."
In a stalled market, marketing is a key to closing more sales, said Elaine Hung, chief marketing officer, Sotheby's International Realty Canada.
"In today's luxury market, where supply exceeds demand, our real estate advisors are encouraging sellers to take a broad-based approach that combines targetted outreach with strategic exposure across premier media, as well as on MLS, to attract the right buyer," said Hung.
