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The Metro Vancouver housing market in February 2026 continued its “new normal” of slower-than-average activity, according to the latest report from Greater Vancouver REALTORS® (GVR).Residential sales totaled 1,648 homes, down 9.8% from February 2025 and 28.7% below the 10-year seasonal average. New listings dipped 6.4% year-over-year to 4,734 (still slightly above the long-term average), while active listings rose 6.3% to 13,545—37% above the 10-year norm. This has created a more balanced, buyer-friendly environment, with the overall sales-to-active listings ratio at 12.6% (detached at 9%, attached at 16.6%, apartments at 14.1%).The composite benchmark price for all residential properties sits at $1,100,300, down 6.8% from last year and edging 0.1% lower month-over-month.Breaking it down by property type:
- Detached homes: 427 sales (down 10.5% YoY), benchmark $1,835,900 (down 8.8% YoY, 0.8% MoM).
- Attached homes (townhouses): 387 sales (up 7.8% YoY), benchmark $1,046,100 (down 5.6% YoY, up 0.3% MoM).
- Apartments: 824 sales (down 15.6% YoY), benchmark $708,200 (down 6.8% YoY, up 0.5% MoM).
Fewer sellers are listing (especially apartments), keeping inventory from ballooning further. The chief economist notes that if demand picks up this spring, stagnant or stable inventory could help support prices around current levels. Year-to-date sales are slightly ahead of forecasts, making the upcoming spring market a key test.
Interesting tip for buyers and sellers in this slower market
Buyers: Take advantage of the extra negotiating power—sellers are more motivated, and prices have softened year-over-year. Get pre-approved, be patient, and focus on well-priced properties in desirable areas; you may secure better terms or concessions without rushing.
Buyers: Take advantage of the extra negotiating power—sellers are more motivated, and prices have softened year-over-year. Get pre-approved, be patient, and focus on well-priced properties in desirable areas; you may secure better terms or concessions without rushing.
Sellers: Price realistically based on recent sold comparables (not wishful thinking or older highs). Staging, minor updates for light and appeal, and strong marketing can help your home stand out in a sea of listings—avoid overpricing, as it leads to longer days on market and eventual reductions.
TL;DR Summary
- Metro Vancouver market remains slow: Sales down ~10% YoY, well below averages.
- Inventory up, more buyer-friendly (ratio ~12.6%).
- Benchmark price $1.1M overall (down 6.8% YoY); detached hardest hit.
- Spring could stabilize prices if demand rises.
- Buyers: Negotiate confidently. Sellers: Price sharp and prepare well.
Ready to navigate this market? Whether you’re buying, selling, or just curious about your options in Metro Vancouver, drop me a line—let’s chat about your real estate goals! Reach out anytime.
