July 2026 | Metro Vancouver
After a promising start to the summer, Metro Vancouver’s housing market took a step back in July.
Home sales on the MLS® fell nearly 10% compared with July 2025, reversing the gain seen in June. The latest numbers suggest that buyers and sellers remain cautious, with neither strong enough to push the market decisively in one direction.
According to the Greater Vancouver REALTORS® (GVR), 2,061 homes sold in July 2026, down 9.8% from 2,286 sales in July 2025 and 18.6% below the 10-year seasonal average of 2,532 sales.
The result: June’s renewed momentum appears to have been short-lived.
Apartment Sales Lead the Slowdown
The biggest change was in the apartment market.
Apartment sales dropped 17.8% year-over-year, with 952 sales in July compared with 1,158 in July 2025. This was the primary factor behind the overall decline in Metro Vancouver sales.
Detached sales were more resilient, falling 3.2%, while attached-home sales declined just 1.1% year-over-year.
This continues a pattern we’ve seen in the market over the past several years: one step forward, one step back.
Fewer New Listings — and Gradually Less Inventory
July also saw fewer sellers entering the market.
There were 4,991 new listings across Metro Vancouver, down 11.5% from July 2025. New apartment listings were particularly weak, falling by nearly 17%.
There were 16,476 active listings at the end of July — down 4% from a year earlier, but still 26.8% above the 10-year seasonal average.
This is an important trend to watch. While inventory remains elevated, the gradual decline in both new listings and overall inventory could eventually provide more balance between buyers and sellers.
What Does the Sales-to-Listings Ratio Tell Us?
Metro Vancouver’s overall sales-to-active-listings ratio was 13% in July.
By property type:
- Detached: 10.5%
- Attached: 15.8%
- Apartments: 14.0%
Historically, sustained ratios below 12% can create downward pressure on prices, while ratios consistently above 20% tend to create upward price pressure.
At 13%, the overall market remains relatively balanced but still leans toward buyers, particularly in the detached segment.
Home Prices Continue to Ease
Prices also moved lower in July, although the decline was relatively modest from the previous month.
The Metro Vancouver MLS® Home Price Index benchmark price is now $1,088,800, down:
6.2% year-over-year
0.9% from June 2026
July 2026 Benchmark Prices
| Property Type | Benchmark Price | Year-over-Year | Month-over-Month |
|---|---|---|---|
| Detached | $1,822,900 | ↓ 7.0% | ↓ 1.1% |
| Attached | $1,030,400 | ↓ 6.0% | ↓ 1.5% |
| Apartment | $688,000 | ↓ 7.5% | ↓ 1.0% |
| All Residential | $1,088,800 | ↓ 6.2% | ↓ 0.9% |
The numbers show that all three major housing segments remain below their July 2025 price levels, with apartments experiencing the largest annual decline.
What Does This Mean for Buyers and Sellers?
For Buyers
There continues to be opportunity for buyers who are patient and selective. Elevated inventory gives buyers more choice and negotiating leverage, particularly where properties have been sitting on the market.
However, the declining number of new listings is something to watch. If demand begins to strengthen while fewer homes come to market, competition could increase relatively quickly.
For Sellers
Pricing remains critical.
With sales activity below historical norms and buyers having plenty of choice, overpricing can result in longer market times and eventual price reductions.
Today’s market rewards sellers who position their property strategically from the outset — with realistic pricing, strong presentation and targeted marketing.
The Bottom Line
July’s numbers reinforce the message we’ve been seeing throughout 2026: Metro Vancouver’s real estate market remains in a period of adjustment.
The June sales increase suggested that buyer demand might be strengthening, but July’s decline shows that the recovery is not yet firmly established.
Prices are continuing to ease gradually, inventory remains well above historical averages, and both buyers and sellers appear to be taking a measured approach.
Download GVR’s July 2026 MLS® Residential Market Report
