New Year, Same Housing Market in Metro Vancouver

The latest data from Greater Vancouver REALTORS shows that Metro Vancouver’s housing market continues to reflect the slower pace experienced throughout 2025 for January 2026.

Market Overview

Residential sales totaled 1,107 in January 2026, representing a 28.7 per cent decrease compared to the 1,552 sales recorded in January 2025. Sales were also 30.9 per cent below the 10 year seasonal average, marking a quieter start to the year.

There were 5,157 newly listed detached, attached, and apartment properties added to the MLS in January. Total active listings reached 12,628, up 9.9 per cent year over year and sitting 38 per cent above the 10 year seasonal average. Elevated inventory levels continue to provide buyers with more choice across all property types.

Sales to Active Listings Ratio

The overall 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 homes, and 10.3 per cent for apartments.

Historical trends suggest that when the ratio remains below 12 per cent for a sustained period, downward pressure on home prices can occur. Current conditions reflect a balanced to buyer leaning market, particularly in the detached segment.

MLS® Home Price Index Trends

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 compared to January 2025 and a 1.2 per cent decrease compared to December 2025.

Across property types, benchmark prices have seen modest year over year declines. Detached homes have experienced the largest percentage adjustment, followed by apartments and attached homes. These shifts reflect the impact of elevated inventory and slower sales activity across the region.

Sales & Listings Report Snapshot

Average sale price per square foot:

What This Means Moving Forward

January’s data points to a housing market that remains steady but subdued. With inventory levels elevated and the sales to active listings ratio below historical balanced thresholds, buyers currently have more negotiating power and time to make informed decisions.

For sellers, pricing strategy and presentation remain critical in a competitive environment. Well positioned properties that are aligned with current market expectations are still attracting interest, while overpricing can lead to extended days on market.

The rental market highlights that while core areas remain expensive, suburban alternatives continue to provide options for renters seeking affordability. As 2026 unfolds, both rental and sales markets will continue to be influenced by supply, demand, and overall consumer confidence. Our team is here to help guide you through these trends.