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July 2026 brought a reality check to the Metro Vancouver real estate market. After a promising 10% sales jump in June, residential transactions on the MLS® slipped nearly 10% year-over-year.
Greater Vancouver REALTORS® reported 2,061 sales last month—down 9.8% from the 2,286 recorded in July 2025 and 18.6% below the 10-year seasonal average. Apartment sales led the decline with an 18% drop, while detached and attached homes held up better.
Inventory Starts to Ease, Prices Stay Soft
New listings fell 11.5% from last July to 4,991 (right on the long-term average), driven largely by fewer apartment listings. Total active inventory now sits at 16,476 homes—4% lower than a year ago but still nearly 27% above the 10-year norm.
The overall sales-to-active listings ratio stands at 13%. That’s in the balanced zone (downward pressure typically builds below 12%; upward pressure above 20%). The MLS® Home Price Index composite benchmark is $1,088,800—down 6.2% from July 2025 and 0.9% from June.
- Detached: 639 sales (-3.2%), benchmark $1,822,900
- Attached/Townhomes: 454 sales (-1.1%), benchmark $1,030,400
- Apartments: 952 sales (-17.8%), benchmark $688,000
As GVR chief economist Andrew Lis noted, the market continues its familiar “one step forward, one step back” pattern. Sellers are gradually slowing their entry, inventory is edging down, and significant price movement in either direction has yet to appear.
Smart Move for Buyers and Sellers
With sales in a holding pattern and inventory still elevated relative to history, buyers gain negotiating room—especially on apartments—while patient sellers who price realistically can still attract serious interest without chasing the market down.
With sales in a holding pattern and inventory still elevated relative to history, buyers gain negotiating room—especially on apartments—while patient sellers who price realistically can still attract serious interest without chasing the market down.
TL;DR
July sales dropped ~10% after June’s rebound. New listings also cooled, inventory is slowly declining, and prices are soft (about -1% month-over-month, -6% year-over-year). The market remains balanced for now.
July sales dropped ~10% after June’s rebound. New listings also cooled, inventory is slowly declining, and prices are soft (about -1% month-over-month, -6% year-over-year). The market remains balanced for now.
Ready to talk strategy for buying or selling in this environment? Reach out—I’d love to discuss your goals and how the latest numbers affect your next move.
