As we head toward the fall real estate market, August’s numbers show a market that continues to reward realistic pricing, strong presentation and a well-planned selling strategy.

Across Metro Vancouver, benchmark prices remain below where they were a year ago and homes are generally taking longer to sell. But the regional numbers only tell part of the story.

When we look more closely at Burnaby South and New Westminster, we can see just how differently individual property types are performing.

For homeowners considering a sale this fall, that distinction matters.

Metro Vancouver: Buyers are active, but taking their time

Across Metro Vancouver, sales remained relatively steady compared with last August, while benchmark prices were lower across all three major property types.

Detached homes recorded 561 sales in August, down 2.3% year-over-year. The benchmark price was $1,799,400, down 7.2%, while homes took an average of 49 days to sell.

Condos recorded 893 sales, down 6.2% from last year. The benchmark price was $686,200, down 6.6%, with an average of 43 days on market.

Townhomes recorded 301 sales, down just 2.6% year-over-year. Their benchmark price was $1,028,800, down 4.4%, while average days on market increased to 40 days.

The broader picture is fairly clear, buyers are still purchasing homes, but they have more time to compare properties and are paying close attention to value.

For sellers, that makes the launch of a listing particularly important. A property that enters the market priced too aggressively can lose valuable momentum during those first few weeks.

Burnaby South: More competition for sellers

Burnaby South continues to show substantial differences between detached homes, condos and townhomes.

Detached homes had 198 active listings and 16 sales during August. The benchmark price was $1,887,800, down 10.2% from a year ago. Interestingly, average days on market fell to 46 days, suggesting properly positioned homes can still attract buyers.

The condo market was more active, with 75 sales and 470 active listings. The benchmark price was $731,500, down 7.1%. However, the average condo took 50 days to sell, a 42.9% increase from last August.

Townhomes had 84 active listings but only six sales. The benchmark price was $933,600, down 7.4%, with properties averaging 44 days on market.

For Burnaby South homeowners, the takeaway isn’t that homes aren’t selling, they are.

The challenge is that buyers have choices.

That makes professional presentation, accurate pricing and understanding your immediate competition especially important.

New Westminster: A very different picture depending on what you own

New Westminster provides perhaps the best example of why sellers shouldn’t rely solely on broad market headlines.

Detached homes had an exceptionally active August compared with last year. Sixteen detached homes sold, an increase of 128.6%, while average days on market fell 44.2% to just 29 days.

At the same time, the detached benchmark price was $1,377,600, down 14.6% year-over-year.

The condo market recorded 56 sales, up 7.7%, with a benchmark price of $576,100, down 8.9%. Condos averaged 50 days on market.

Townhomes were considerably slower. Just five townhomes sold during August, down 64.3% from last year. The benchmark price was $873,400, down 4.2%, while the average property took 51 days to sell.

This is exactly why the question “How is the market?” rarely has one simple answer.

A detached homeowner in New Westminster is experiencing a very different market from someone selling a townhome, even though both properties may be only a few kilometres apart.

What does this mean if you’re thinking about selling this fall?

The August numbers reinforce something I’ve always believed, the market doesn’t determine the outcome of every sale, your strategy matters.

In today’s market, sellers need to understand:

• what comparable homes are actually selling for;

• how much competing inventory is currently available;

• how long similar properties are taking to sell;

• what buyers are responding to; and

• how to position the property properly from the beginning.

Pricing a home based simply on what a neighbour received a year or two ago can be a costly mistake. Likewise, assuming a slower overall market means there are no buyers can cause sellers to miss opportunities.

There are buyers in the market. The key is giving them a compelling reason to choose your home.

Thinking about selling?

If you’re considering selling in Burnaby, New Westminster or elsewhere in Metro Vancouver, I’d be happy to prepare a current market evaluation for your property.

Rather than relying on regional averages, we can look specifically at your neighbourhood, your property type, recent comparable sales and the homes you would be competing against.

That gives you a much clearer picture of your home’s current market position, and whether now is the right time for you to make a move.

Steve Davis, REALTOR®
Oakwyn Realty Encore

July 2026 brought softer year-over-year pricing across Metro Vancouver, with market conditions varying considerably depending on property type and location. Looking more closely at Burnaby South and New Westminster shows why local market statistics remain important when making a real estate decision.

Metro Vancouver

Across Metro Vancouver, benchmark prices were lower year-over-year for detached homes, condos and townhomes.

Detached homes recorded 641 sales in July, down 2.4 per cent from a year earlier, with 6,236 active listings. The average detached home spent 42 days on the market, unchanged from July 2025. The MLS® HPI benchmark price was $1,822,900, representing a 7.0 per cent year-over-year decrease.

Condo sales totalled 955, down 17.5 per cent compared with July 2025. There were 6,733 active condo listings, while the average time on market increased 20 per cent to 42 days. The benchmark price was $688,000, down 7.5 per cent year-over-year.

Townhomes recorded 353 sales, a 6.1 per cent decrease from last year, with 2,057 active listings. Townhomes spent an average of 33 days on the market, up 10 per cent year-over-year. The benchmark price was $1,030,400, down 6.0 per cent.

Burnaby South

Burnaby South experienced a mixed market in July, with sales activity varying substantially between property types.

Detached homes recorded 22 sales, an increase of 4.8 per cent compared with July 2025, despite active listings declining 20.1 per cent to 191. The average time on market increased to 38 days. The benchmark price was $1,919,800, down 10.7 per cent year-over-year.

The condo market recorded 75 sales, down 22.7 per cent from last year, with 492 active listings. Condos spent an average of 41 days on the market, an increase of 17.1 per cent. The benchmark condo price was $741,600, down 7.4 per cent year-over-year.

Burnaby South townhomes recorded 13 sales, down 27.8 per cent compared with July 2025. Active listings increased significantly, rising 33.8 per cent to 87. Interestingly, the average time on market declined to just 25 days. The benchmark townhouse price was $924,200, down 10.6 per cent year-over-year.

New Westminster

New Westminster also saw benchmark prices decline across all three property types in July.

Detached homes recorded 13 sales, down 7.1 per cent year-over-year, while active listings increased 9.3 per cent to 164. The average time on market rose to 39 days. The benchmark price was $1,384,300, down 13.3 per cent compared with July 2025.

The condo market recorded 61 sales, a 12.9 per cent decrease from last year, with 388 active listings. Condos spent an average of 47 days on the market, up 23.7 per cent year-over-year. The benchmark condo price was $582,400, an 8.3 per cent decrease.

Townhomes recorded eight sales in July, down 42.9 per cent from a year earlier. There were 65 active listings, while the average time on market increased to 31 days. The benchmark townhouse price was $872,900, down 4.5 per cent year-over-year.

What Does This Mean for Buyers and Sellers?

July’s numbers continue to demonstrate that there is no single real estate market across Metro Vancouver. Conditions can differ significantly between detached homes, condos and townhomes, and even more when looking at individual communities such as Burnaby South and New Westminster.

For buyers, lower benchmark prices and longer marketing times in several segments may provide more opportunity to compare properties and negotiate. For sellers, accurate pricing and understanding the competition within your specific neighbourhood and property type remain especially important.

If you are considering buying or selling in Metro Vancouver, Burnaby South or New Westminster, I would be happy to discuss what the latest market numbers mean for your specific property and real estate goals.