Metro Vancouver Market Update – February 2026 🏡

• Overall, the sales-to-active listings ratio is 12.6%, with detached homes at 9%, attached at 16.6%, and apartments at 14.1%.

• Historically, when this ratio drops below 12% for a while, prices can come under downward pressure. When it’s over 20% for months, prices often rise.

💡 What this means: Fewer sellers are coming to market compared to last year. With demand picking up this spring, we might see inventory hold steady, which could keep prices around current levels.

• Detached homes: 427 sold in February (down 10.5% from last year). Benchmark price: $1,835,900 (down 8.8% YoY).

• Apartments: 824 sold (down 15.6% YoY). Benchmark price: $708,200 (down 6.8% YoY).

• Attached homes/townhouses: 387 sold (up 7.8% YoY). Benchmark price: $1,046,100 (down 5.6% YoY).

The spring market will be the test to see if we continue along this “new normal” or if surprises are in store.

Metro Vancouver* home sales registered on the MLS® in February continued the recent trend of slower-than-average sales, seeing a ten per cent decline over the same period last year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,648 in February 2026, a 9.8 per cent decrease from the 1,827 sales recorded in February 2025. This was 28.7 per cent below the 10-year seasonal average (2,310).

There were 4,734 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2026. This represents a 6.4 per cent decrease compared to the 5,057 properties listed in February 2025. This was 7.1 per cent above the 10-year seasonal average (4,421).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,545, a 6.3 per cent increase compared to February 2025 (12,744). This is 37 per cent above the 10-year seasonal average (9,886).

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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.

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).