A new real estate report is out detailing home sales in the luxury sector, and it isn’t looking too good for sellers in West Vancouver.
This comes after 2025, which saw “serious stagnation” in the luxury sector, and it hasn’t gotten any better in the first half of the year.
Between Jan. 1 and Aug. 30 this year, just 57 properties sold for over $4 million. That marks a 25 per cent decrease compared to the 76 homes above $4 million which sold in the same period last year.
The data comes from Sotheby’s International Realty Canada, focusing on the West Vancouver luxury market.
“Over the past two decades, West Vancouver’s luxury real estate market has undergone dramatic change, shaped by economic cycles, changing market conditions and extraordinary price growth. As Sotheby’s International Realty Canada celebrates 20 years in West Vancouver, newly compiled data reveals how dramatically the luxury market has evolved and where it stands today,” Sotheby’s stated in its report.
This leads Sotheby’s to the finding that the market is firmly in buyers’ territory this fall.
Sotheby’s International Realty Canada Managing Broker Kevin O’Toole says that there were 195 residential properties listed for above $4 million as of Sept. 1.
“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,” he said.
In some of our own research via Zealty, there have been approximately 30 homes sold with final sale prices over $4 million in the last 90 days.
Only one of those 30 home sales was categorized as ultra-luxury, a.k.a. a home that sold for $10 million or more.
Some West Vancouver real estate listings have been listed on the market for as long as a year, and in some cases, over a year, without a buyer. That includes 1337 Camridge Rd., which would qualify as ultra-luxury, being listed for nearly $11 million. The property was listed in September 2025.
There are also several homes like 4050 Ripple Pl., currently listed for $5,450,000, that have been on the market for several months without movement.
“Although its analysis of land title and MLS records from January 2024–August 2026 reveals that one in seven West Vancouver properties above $4 million sells without ever appearing on MLS, Sotheby’s International Realty Canada maintains that given current market conditions, broader public marketing on MLS, in conjunction with strategic private network outreach, is key to attracting qualified purchasers,” the report states.
Elaine Hung, the chief marketing officer for Sotheby’s, has some advice for sellers echoing that sentiment.
“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,” Hung said.