Last year’s market trends continued in January as home sales registered on the MLS® in Metro Vancouver were 28.5 per cent lower than last year, setting the year off to a quieter start.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,107 in January 2026, a 28.7 per cent decrease from the 1,552 sales recorded in January 2025. This was 30.9 per cent below the 10-year seasonal average (1,602).
“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years. Last year ended with one of the lowest sales totals in over two decades, and so it’s not surprising that the January sales figures were fourth slowest in over two decades as well,” said Andrew Lis, GVR’s chief economist and vice-president, data analytics. “Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal.”
There were 5,157 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2026. This represents a 7.3 per cent decrease compared to the 5,566 properties listed in January 2025. This was 19.4 per cent above the 10-year seasonal average (4,318).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,628, a 9.9 per cent increase compared to January 2025 (11,494). This is 38 per cent above the 10-year seasonal average (9,153).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2026 is 9.1 per cent. By property type, the ratio is 6.7 per cent for detached homes, 11.1 per cent for attached, and 10.3 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.
“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid. When paired with sellers remaining eager to list, inventory will likely remain elevated relative to historical averages and, as a result, we expect prices to finish the year relatively unchanged,” Lis said. “As consumers adjust to the ongoing backdrop of political and economic uncertainty, we expect a degree of pent-up demand to re-enter the market at some point. Whether it will happen in 2026 remains an open question, and we’ll be watching the market closely for signs of improvement.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,101,900. This represents a 5.7 per cent decrease over January 2025 and a 1.2 per cent decrease compared to December 2025.
Sales of detached homes in January 2026 reached 300, a 21.1 per cent decrease from the 380 detached sales recorded in January 2025. The benchmark price for a detached home is $1,850,800. This represents a 7.3 per cent decrease from January 2025 and a 1.5 per cent decrease compared to December 2025.
Sales of apartment homes reached 554 in January 2026, a 34.5 per cent decrease compared to the 846 sales in January 2025. The benchmark price of an apartment home is $704,600. This represents a 5.9 per cent decrease from January 2025 and a 0.8 per cent decrease compared to December 2025.
Attached home sales in January 2026 totalled 246, a 23.4 per cent decrease compared to the 321 sales in January 2025. The benchmark price of a townhouse is $1,043,400. This represents a 5.4 per cent decrease from January 2025 and a 1.2 per cent decrease compared to December 2025.
Download GVR’s January 2026 MLS® Housing Market Report
As for the rest of the province …
2026 Kicks Off With Weak Sales Activity
Vancouver, BC – February 11, 2026. The British Columbia Real Estate Association (BCREA) reports that 3,314 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in January 2026, down 22.9 per cent from January 2025. The average MLS® residential price in BC in January 2026 was down 1.9 per cent at $924,239 compared to $942,384 in January 2025.
Total MLS® residential sales dollar volume was $3.06 billion, down 24.4 per cent from the same time the previous year. BC MLS® unit sales were 30.97 per cent lower than the ten-year average for the month of January.
“British Columbia’s housing market kicked off 2026 with its second weakest January since 2016, with sales in almost every region falling short of historical averages,” said BCREA Chief Economist Brendon Ogmundson. “Despite a slow start, we expect stable rates and improved affordability conditions to release pent-up demand with sales picking up over the course of 2026.”
Active listings in January 2026 climbed to 32,626 units, a 5.6 per cent increase from the same month last year. Weak sales activity over the past several quarters have led to an accumulation of inventory, which should accommodate demand pressures in the short term. However, dampening sentiments concerning new home construction in BC leave the housing market vulnerable to long-term demand growth, a pattern which will be monitored over the next few years.
For the complete statistics release, including detailed tables, click here.
