New Westminster Real Estate Market Update – June 2025

Inventory Climbs, Prices Retreat, and Buyers Gain Leverage

June 2025 brings rising inventory and continued price adjustments across all property types in New Westminster. Detached homes saw the steepest drop in sales, while townhomes experienced notable gains in transactions despite increasing supply. Condos remain active but are trending toward more balanced conditions.

Here’s a closer look at the numbers shaping the market this month.

Key Market Stats for June 2025

Detached Homes

  • Total Active Listings: 150 (+16.3% YoY)
  • Sales: 10 (-44.4% YoY)
  • Days on Market Average: 16 (-40.7% YoY)
  • MLS® HPI Benchmark Price: $1,512,500 (-5.1% YoY)

Condos

  • Total Active Listings: 392 (+49.6% YoY)
  • Sales: 47 (-42.7% YoY)
  • Days on Market Average: 26 (+4.0% YoY)
  • MLS® HPI Benchmark Price: $637,800 (-2.1% YoY)

Townhomes

  • Total Active Listings: 81 (+113.2% YoY)
  • Sales: 14 (+75.0% YoY)
  • Days on Market Average: 32 (+77.8% YoY)
  • MLS® HPI Benchmark Price: $905,100 (-4.9% YoY)

Market Trends & Expert Insights

  • Detached Homes: Sales Collapse Despite Faster Selling Times
    Detached listings grew 16.3% YoY, but sales nearly halved (-44.4%), pushing the sales-to-active ratio to just 6.7%, deep in buyer’s market territory. Interestingly, homes sold faster (16 days vs 27 last year), likely due to price cuts or strategic pricing. The benchmark price dropped 5.1% YoY.
  • Condos: Activity Slows as Inventory Swells
    Condo listings surged 49.6%, while sales fell 42.7% YoY. The average time on market remained relatively stable at 26 days, but prices eased 2.1% YoY. With a sales-to-active ratio of 12.0%, this segment is trending toward a balanced-to-buyer market.
  • Townhomes: Strong Sales Amid Heavy Supply
    Townhomes saw the largest inventory spike—+113.2% YoY—but also recorded a 75% increase in sales, signaling continued buyer interest despite higher supply. However, homes are taking 32 days to sell (up nearly 78%), and prices dropped 4.9% YoY, indicating early price pressure in this segment.
  • Sales-to-Active Ratio Snapshot:
    • Detached: 6.7% → Buyer’s Market
    • Condos: 12.0% → Balanced Market (softening)
    • Townhomes: 17.3% → Balanced Market (holding better than others)

What This Means for Buyers & Sellers

For Buyers:

  • Detached homes present the most leverage for buyers, with deep discounts and strong negotiating power.
  • Condo and townhome buyers benefit from increased choice and less competition.

For Sellers:

  • Detached sellers must price aggressively and prepare for extended timelines.
  • Townhome sellers should note that while demand exists, buyers are price-sensitive.
  • Condo sellers face stiff competition—presentation and pricing are key.

Final Thoughts

New Westminster’s market is clearly shifting in favor of buyers, with widespread price adjustments and rising inventory. Detached homes are feeling the sharpest impact, while condos and townhomes remain somewhat resilient but are trending toward balance.

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