· Dan Marusin PREC · Market Reports · 4 min read
Vancouver Real Estate Market Update — April 2026
Where Vancouver, Burnaby, Surrey, North Shore, and Fraser Valley benchmark prices stand in April 2026 — plus what changed at the policy and rate level this month.
If you have only thirty seconds: the Lower Mainland market in April 2026 is balanced-to-buyer’s territory across most segments, with detached holding firmer than condos, presales softening further, and the Fraser Valley showing better absorption than the City of Vancouver. Five-year fixed mortgage rates are sitting around the high 3s to low 4s, and the federal Foreign Buyer Ban is in its final months before the January 1, 2027 sunset.
Here is what every buyer, seller, and investor in Greater Vancouver needs to know right now.
Benchmark Prices — Where We Stand
The Real Estate Board of Greater Vancouver and the Fraser Valley Real Estate Board publish a monthly benchmark price for each property type and area. Treat the figures below as approximate working numbers for April 2026; for a hand-prepared comparable analysis on a specific property, request a Free CMA.
| Area | Detached | Townhouse | Condo |
|---|---|---|---|
| Vancouver West | $3.4M+ | $1.4M | $890K |
| Vancouver East | $2.05M | $1.18M | $720K |
| North Vancouver | $2.25M | $1.36M | $810K |
| West Vancouver | $3.3M | n/a | $1.3M |
| Burnaby | $2.05M | $1.07M | $760K |
| Richmond | $2.10M | $1.10M | $680K |
| Coquitlam | $1.84M | $1.05M | $695K |
| Surrey | $1.78M | $945K | $580K |
| Langley | $1.74M | $890K | $560K |
| Maple Ridge | $1.42M | $815K | $490K |
Want city-by-city detail? Each city has its own page: Vancouver, Burnaby, Surrey, Langley, North Vancouver, Coquitlam, and the rest are listed in the footer.
What Changed This Month
Bank of Canada policy rate held — most lenders are pricing 5-year fixed insured mortgages in the high 3s, uninsured slightly higher. The B-20 stress test continues to qualify borrowers at the higher of contract + 2% or 5.25%, so a 3.99% contract rate qualifies at 5.99%. Run your own number on the Mortgage Affordability Calculator.
Federal First-Time Buyer GST Rebate is now a year old (introduced May 2025). For new construction priced under $1,000,000, eligible first-time buyers receive a full GST rebate of 5%. Properties between $1,000,000 and $1,500,000 receive a phased rebate. This stacks with provincial PTT exemptions and continues to be the single biggest move on the buyer-incentive side in a decade.
BC Home Flipping Tax (Bill 15) continues unchanged: 20% on properties sold within 365 days, sliding to 0% by day 730. Sellers exiting in this window must factor this into net proceeds. Use the BC Home Flipping Tax Calculator.
Foreign Buyer Ban (federal Prohibition Act) remains in effect through January 1, 2027. Most non-citizens, non-permanent-residents are still locked out of residential purchases under four units. Some carve-outs exist for refugees, international students, and work-permit holders meeting strict conditions.
Bill 44 SSMUH and Bill 47 TOD are now well into implementation across the Lower Mainland. Most lots zoned for single-family in Vancouver, Burnaby, Surrey, North Van, Richmond, Coquitlam, and Port Moody now permit 3-6 units depending on size and transit proximity. Run your lot through the Bill 44 Multiplex Calculator and the TOD Zoning Calculator.
What I’m Telling Buyers
Inventory is meaningfully higher than last spring. Detached homes that are correctly priced are selling in the first three weeks; overpriced listings are sitting and reducing. Condo presales — particularly downtown Vancouver and Burnaby Metrotown — are working hard to attract buyers with deposit incentives, decorating allowances, and assignment privileges.
If you’re a first-time buyer, the math has actually become friendlier than it has been since 2021: lower rates than the 2023 peak, better selection, the federal GST Rebate on new construction, BC PTT FTHB exemption to $835K, the FHSA, the HBP at $60K, and the Home Buyers’ Tax Credit. The full list is in my First-Time Home Buyer Guide.
What I’m Telling Sellers
Price honestly out of the gate, stage well, and use professional photography. The market punishes overpricing fast in 2026 — buyers have search tools, history, and patience. If you bought during 2021–2023, you may be at or slightly below your purchase price; check your IRD penalty exposure with the Mortgage Penalty Calculator before listing, and run your net proceeds through the Home Sale Net Proceeds Calculator.
Want a Specific Property Number?
If you want me to pull comparable sales and prepare a hand-built CMA on a specific Lower Mainland property — buyer or seller side — request a Free CMA or call/text 778-918-5990.
— Dan Marusin PREC Renanza Realty