Greater Vancouver Housing Market Outlook (Fall 2026)

The average residential sale price in the Vancouver Region decreased by 4.1 per cent for houses and 3.7 per cent for condominiums and townhouses between 2025 and 2026. Average house prices declined from approximately $2.061 million to $1.979 million, while average condominium and townhouse prices declined from $927,256 to $893,941.

The number of sales was essentially unchanged, decreasing from 4,071 to 4,070. Meanwhile, attached-home sales, including condominiums and townhouses, decreased by approximately 10 per cent, from 10,566 to 9,569. House listings decreased by approximately nine per cent, from 10,717 to 9,785, while condominium and townhouse listings declined from 13,891 to 12,761.

Average 2026 sale prices are expected to decline by approximately 3.1 per cent for detached homes and one per cent for attached homes compared with 2025 levels. Sales are expected to decline by approximately 9.2 per cent for detached homes and 6.3 per cent for attached homes.

Vancouver remains a buyer’s market, and this condition is expected to continue through the remainder of the year. July MLS sales fell to their second-lowest July total in more than two decades, with the fewest sales through the first seven months of any year in available data going back to 2005. New listings have trailed year-ago levels for seven consecutive months, while inventory has remained below year-ago levels for five months. Despite lower inventory, buyer demand remains weak, with median sold prices declining across nearly every segment.

Economic uncertainty is the biggest factor causing buyers to delay entering the market. Buyers are increasingly hesitant to make decisions, with concerns about potential further price declines contributing to a wait-and-see approach.

The GST/HST rebate has not meaningfully affected the market. Elizabeth McQueen of REMAX Select Properties, based in Vancouver, does not typically work with the segment of the market where the rebate applies and therefore did not provide further commentary on its impact.

Location is what buyers are least willing to compromise on. However, buyers have become increasingly reluctant to make decisions overall, with heightened uncertainty and media coverage about potential price declines contributing to buyer hesitation.

According to Elizabeth, the foreign buyer ban has reduced new construction development without improving affordability. She believes the ban has had a particularly significant impact on the high-net-worth segment of Vancouver’s market, where sellers are facing substantial price reductions and local buyers rarely purchase these properties. She argues that the ban has therefore done little to improve affordability for local buyers while contributing to weakness at the higher end of the market.

Vancouver is currently underperforming relative to Canada as a whole, with high interest rates, tariff-related economic uncertainty, and excess supply weighing more heavily on the expensive Lower Mainland market. In the high-net-worth segment, some condominiums are selling at prices comparable to 2013 levels, while some buyers of new condos are reportedly unable to complete purchases due to their classification as foreign buyers, resulting in significant financial losses and forfeited deposits.