When you list a home in Greater Vancouver, you are not competing with what sold last month or what your neighbour paid three years ago. You are competing with the homes a buyer can see, tour and make an offer on today.
A comparative market analysis starts there: with the properties currently on the market that a buyer will compare with yours. The asking prices, the condition, the days those homes have been sitting, and how many of them there are. All of it shapes what a buyer expects your home to be worth and whether they will book a showing.
Key takeaways
- A comparative market analysis compares your home with similar properties currently listed for sale, not past sales or assessments.
- As of November 14, 2026, Greater Vancouver had 12,430 residential homes listed, with a median of 54 days on the market for condos and townhouses and 66 days for detached houses.
- Overpricing typically adds weeks to your time on the market and weakens your negotiating position; underpricing can leave money on the table or attract lowball offers.
- The analysis looks at property type, size, location, condition, days on market and current asking prices to position your home competitively.
- Work with your agent to review the active competition and adjust your price as the market shifts.
What a comparative market analysis actually compares
A comparative market analysis is not an appraisal and it is not your BC Assessment. It is a snapshot of what buyers are choosing between right now in your neighbourhood and price range.
Your agent pulls the active listings that match your home: same property type, similar size, same general area, comparable condition. For a three-bedroom townhouse in Coquitlam, that means looking at other three-bedroom townhouses in Coquitlam currently listed. For a two-bedroom condo in Burnaby, it means two-bedroom condos in Burnaby on the market today.
The analysis notes the asking prices, how long each home has been listed, and any features that make a property more or less comparable. A renovated kitchen, a larger lot, a busy street, a view—these adjust the comparison up or down.
It also considers how many similar homes are competing with yours. As of November 14, 2026, Greater Vancouver had 5,437 condos listed at a median asking price of $680,000, 1,595 townhouses at a median of $1,049,000, and 4,281 detached houses at a median of $2,050,000. A buyer shopping for a condo has more than three times the selection of a buyer shopping for a townhouse, which changes how aggressively you need to price.
Why the homes on the market right now matter more than last month's sales
Sold prices tell you what worked in the past. Active listings tell you what you are up against today.
A buyer does not care what a similar home sold for in September if there are five better options listed this week at a lower price. They care about what they can tour on Saturday and what it will cost them to make an offer.
That is why days on market matter. Condos and townhouses in Greater Vancouver had been listed for a median of 54 days as of mid-November; detached houses had been on the market for a median of 66 days. If your home has been listed longer than most of the competition, buyers assume something is wrong—usually the price.
The analysis also tracks new listings. In the 30 days leading up to November 14, 2026, 3,420 homes were listed in Greater Vancouver. Of those, 1,597 were condos with a median asking price of $659,000, 467 were townhouses at $1,039,900, and 999 were detached houses at $1,888,000. Fresh competition resets buyer expectations quickly, especially if the new listings are priced lower than yours.
What overpricing costs you in time and leverage
Overpricing does not mean you start high and negotiate down. It means you sit on the market while buyers tour other homes, and by the time you drop the price, you have lost the attention of the buyers who would have made strong offers in the first two weeks.
Homes that linger develop a reputation. Buyers wonder if there is a problem with the property, the strata, the location. Agents stop showing it because they have already told their clients it is overpriced. When you finally reduce the asking price, you are now competing with homes that just came on the market and have not been picked over.
You also lose negotiating leverage. A buyer who sees your home has been listed for 80 days knows you are motivated. They make a lower offer and they are less willing to move on price, terms or conditions.
What underpricing costs you in money and credibility
Underpricing can work in a hot market where multiple offers are common and buyers expect to bid over asking. In a slower market, it often just leaves money on the table.
If you list a home well below comparable properties, you may attract buyers who are looking for a deal and are not willing to pay more even if the home is worth it. You may also signal to serious buyers that something is wrong—why else would it be priced so low?
Some sellers underprice intentionally to create urgency or to attract attention. That strategy requires careful timing, a clear understanding of buyer behaviour in your segment, and a willingness to walk away from lowball offers. It is not a default approach; it is a calculated risk.
How to use the competition to your advantage
Pricing is not static. The market shifts, new listings come on, interest rates change, buyer sentiment moves. Your asking price should reflect what is happening now, not what you hoped would happen when you first listed.
Review the active competition with your agent every two weeks. If similar homes are sitting longer than yours, you may have room to hold firm. If new listings are priced lower and getting showings, you may need to adjust.
Pay attention to the details that make your home more or less desirable than the comparables. A south-facing unit, a recent renovation, a quiet street, a shorter strata fee—these matter to buyers and they justify a premium. A north-facing unit, deferred maintenance, a busy road, higher fees—these justify a discount.
Be honest about condition. Buyers compare your home with move-in-ready properties at the same price. If yours needs work, price it accordingly or do the work first. A free home valuation from Renanza gives you a clear picture of where your property sits relative to the competition and what adjustments make sense.
Frequently asked questions
How often should I update my comparative market analysis?
Every two weeks while your home is listed, and immediately if a cluster of similar homes comes on the market or if interest rates or buyer sentiment shift noticeably. The analysis is only useful if it reflects current competition.
Should I price at the high end of the range to leave room to negotiate?
Only if the high end is justified by features, condition or location that genuinely set your home apart. Buyers and their agents know the comparables. If your asking price is not supported by the analysis, you will sit on the market and lose leverage, not gain it.
What if my home is unique and there are no good comparables?
Your agent will expand the search to properties that share key features—size, location, lot, view—even if the property type is different, and will adjust for the differences. Unique homes take longer to price accurately and often longer to sell, because the buyer pool is smaller.
Can I use my BC Assessment to set my asking price?
BC Assessment is a snapshot for tax purposes, not a market analysis. It does not account for condition, recent renovations, or what buyers are willing to pay today. Use it as one data point, not the primary one.
What if I need to sell quickly?
Price at or slightly below the median asking price for comparable active listings, make sure the home shows well, and be prepared to negotiate on terms and timing. Speed usually requires a trade-off on price, but overpricing to test the market will cost you more time than you save.
Sources
Renanza Realty — Analysis of active MLS® listings (CREA DDF®) — Greater Vancouver, November 2026
Data last checked: 2026-11-14
