New Westminster Real Estate Market Update – April 2025

Higher Inventory Meets Softer Sales as Market Trends Shift

April 2025 continues New Westminster’s trend toward cooling demand and rising inventory. Sales activity softened across all major property types, while listings increased and properties stayed on market longer. Pricing has started to decline modestly, suggesting that buyers are gaining leverage as spring progresses.

Let’s dive into the latest numbers and key insights.

Key Market Stats for April 2025

Detached Homes

  • Total Active Listings: 128 (+5.8% YoY)
  • Sales: 13 (+8.3% YoY)
  • Days on Market Average: 34 (+41.7% YoY)
  • MLS® HPI Benchmark Price: $1,595,400 (-0.5% YoY)

Condos

  • Total Active Listings: 366 (+49.4% YoY)
  • Sales: 64 (-16.9% YoY)
  • Days on Market Average: 29 (+38.1% YoY)
  • MLS® HPI Benchmark Price: $649,200 (-1.6% YoY)

Townhomes

  • Total Active Listings: 58 (+52.6% YoY)
  • Sales: 10 (-33.3% YoY)
  • Days on Market Average: 24 (+84.6% YoY)
  • MLS® HPI Benchmark Price: $929,900 (-2.5% YoY)

Market Trends & Expert Insights

  • Detached Homes: Modest Growth in Sales, But Longer Time to Sell
    Detached sales edged up slightly (+8.3% YoY), but homes are taking longer to sell (34 days, up 41.7%). While the benchmark price declined slightly (-0.5%), the segment appears relatively stable compared to others, though momentum is slowing.
  • Condos: Inventory Surges, Sales Dip
    Condo listings increased nearly 50% year-over-year, while sales fell 16.9%. Average days on market jumped to 29 days, and the benchmark price dropped 1.6% YoY—clear signs of buyer caution as supply outpaces demand.
  • Townhomes: Slowing Demand Despite Rising Supply
    Townhomes experienced the largest sales drop this month (-33.3% YoY), despite a 52.6% increase in listings. The time it takes to sell has nearly doubled, and prices declined 2.5% YoY, indicating this segment is under growing pressure.
  • Sales-to-Active Ratio Snapshot:
    • Detached Homes: 10.2% → Balanced Market
    • Condos: 17.5% → Balanced Market
    • Townhomes: 17.2% → Balanced Market
    All segments remain technically balanced, but trending toward buyer-favourable conditions.

What This Means for Buyers & Sellers

For Buyers:

  • With rising inventory and longer days on market, buyers have more negotiating power and selection across all property types.
  • Patience could pay off as the market continues to cool heading into late spring.

For Sellers:

  • Sellers must price strategically—overpricing risks prolonged time on market.
  • Condos and townhomes especially require realistic pricing and strong presentation to attract interest.

Final Thoughts

New Westminster is experiencing a transitional market. Inventory continues to rise, and while sales haven’t collapsed, demand is not keeping pace. Buyers are gaining leverage, and sellers will need to adapt to maintain traction this spring.

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