The latest data from Greater Vancouver REALTORS® points to a market that remains balanced overall, with the apartment segment experiencing the most weakness. Key points:
1. Sales remain sluggish
- Total May sales: 2,150
- Down 3.5% year-over-year
- Down 26.6% below the 10-year seasonal average
Demand remains muted despite lower borrowing costs compared to previous years.
2. Inventory remains elevated
- Active listings: 16,917
- Roughly unchanged from last year
- 34.6% above the 10-year average
Buyers continue to have plenty of choice, which is limiting price growth.
3. Apartments are the weakest segment
- Apartment sales fell 7.2% year-over-year
- Apartment benchmark price: $697,800
- Down 7.9% year-over-year
- Down 0.7% month-over-month
This continues to be the most buyer-friendly segment of the market.
4. Detached homes showing resilience
- Detached sales increased 0.9% year-over-year
- Benchmark price: $1,847,900
- Down 6.9% year-over-year
- Up 0.4% month-over-month
Detached homes appear to have stabilized after the price declines seen over the past year.
5. Townhomes remain relatively stable
- Sales down only 1.3%
- Benchmark price: $1,048,200
- Down 5.1% year-over-year
- Up 0.5% month-over-month
Townhomes continue to be the strongest-performing segment from a demand perspective.
What This Means for Sellers
- Detached homes: Well-priced properties can still generate strong interest, particularly in family-oriented neighbourhoods.
- Townhomes: Competitive but stable; presentation and pricing remain important.
- Condos: Buyers have significant leverage due to abundant inventory and slower sales activity. Strategic pricing is critical.
What This Means for Buyers
- More selection than we’ve seen in years.
- Less competition and fewer bidding wars.
- Increased negotiating power, especially in the condo market.
- Opportunities to secure price reductions and favourable terms.
Market Outlook for Summer 2026
The commentary from GVR suggests a “calm and orderly” summer market. With inventory plentiful and demand tracking forecasts, significant price swings appear unlikely in the near term. Expect:
- Stable pricing overall
- Continued buyer choice
- Detached and townhouse markets outperforming condos
- Local neighbourhood and property-specific factors becoming increasingly important
For Metro Vancouver as a whole, this remains a balanced market leaning slightly in favour of buyers, particularly in the apartment sector.
Download GVR’s May 2026 MLS® Residential Market Report.
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