Scarlett Klee | REAL ESTATE ADVISOR

Home sales registered on the MLS® in Metro Vancouver* declined 4.6 per cent compared to August last year, marking the end of a summer season that underperformed the summer of 2025.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,869 in August 2026, a 4.6 per cent decrease from the 1,959 sales recorded in August 2025. This was 20.7 per cent below the 10-year seasonal average (2,356).

“The soft August sales data suggest the modest downward revisions we recently made to our 2026 forecast were a timely and prudent decision,” said Andrew Lis, GVR chief economist and vice-president data analytics. “The market’s performance matched our expectations for the first four months of 2026, but since May, sales have lagged our January forecast, and we expect that trend to persist to the end of the year.”

There were 4,100 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2026, representing a three per cent decrease compared to the 4,225 properties listed in August 2025. This was 1.3 per cent below the 10-year seasonal average (4,152) for new listings.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 15,798, a 2.7 per cent decrease compared to August 2025 (16,242). This is 26.2 per cent above the 10-year seasonal average (12,522).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for August 2026 is 12.3 per cent. By property type, the ratio is 9.6 per cent for detached homes, 15.1 per cent for attached, and 13.7 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Previously, we’ve noted that inventory levels have receded from their 2025 heights. This gradual decline, paired with slower-than-usual sales, has caused prices to drift downwards across all market segments, with the composite price index now down approximately six per cent year over year,” Lis said. “Ample selection, softening prices, and stable mortgage rates are considered favorable buying conditions, but they haven't been enough to bring many buyers off the sidelines. While the renewed trade tensions with the USA are an unwelcome distraction for the market, we still believe the main drivers of this soft market are the slowdown in immigration to our region, reduced investor demand, and mortgage rates that aren’t low enough to incentivize robust buying activity.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,081,900. This represents a 5.6 per cent decrease over August 2025 and a 0.6 per cent decrease compared to July 2026.

Sales of detached homes in August 2026 reached 557, a 3.1 per cent decrease from the 575 detached sales recorded in August 2025. The benchmark price for a detached home is $1,799,400, representing a 7.2 per cent decrease from August 2025 and a 1.3 per cent decrease compared to July 2026.

Sales of apartment homes reached 891 in August 2026, a 6.8 per cent decrease compared to the 956 sales in August 2025. The benchmark price of an apartment home is $686,200, translating to a 6.6 per cent decrease from August 2025 and a 0.3 per cent decrease compared to July 2026.

Attached home sales in August 2026 totalled 412, a 0.7 per cent increase compared to the 409 sales in August 2025. The benchmark price of a townhouse is $1,028,800; this represents a 4.4 per cent decrease from August 2025 and a 0.2 per cent decrease compared to July 2026.

* Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.