Metro Vancouver Real Estate Wrap-Up: Softer Summer Sales, More Choice, and Easing Prices

by Gavin Lam

August closed a quieter-than-expected summer for Metro Vancouver housing. Sales on the MLS® slipped 4.6% from last August to 1,869 homes — well below the 10-year seasonal average. Inventory remains plentiful, prices have continued to drift lower, and conditions still favour patient buyers more than they did a year ago.

August Snapshot

Residential sales totalled 1,869, down from 1,959 in August 2025 and 20.7% below the long-term seasonal norm. New listings also eased slightly (4,100 vs. 4,225 a year earlier). Active inventory sits at 15,798 — a modest 2.7% drop from last August but still 26% above the 10-year average.The sales-to-active-listings ratio landed at 12.3% overall. That’s the zone where prices often face downward pressure if it persists. Detached homes sit at 9.6%, townhouses at 15.1%, and apartments at 13.7%.

Prices Continue Their Gradual Slide

The MLS® Home Price Index composite benchmark is now $1,081,900 — down 5.6% year-over-year and 0.6% from July.

Detached: $1,799,400 (−7.2% YoY)
Townhouses: $1,028,800 (−4.4% YoY)
Apartments: $686,200 (−6.6% YoY)

Townhouse sales were the only segment to tick slightly higher versus last August; detached and apartment sales both declined.

Why the Market Feels Soft

Greater Vancouver REALTORS® chief economist Andrew Lis notes that sales have lagged the January forecast since May. Key factors include slower immigration to the region, reduced investor activity, and mortgage rates that haven’t dropped enough to spark stronger demand. Renewed trade tensions with the U.S. add another layer of caution, though they’re seen as a secondary distraction rather than the main driver.

Ample selection, softening prices, and relatively stable rates create what many would call favourable buying conditions — yet many prospective buyers remain on the sidelines.

Practical Tip for Buyers and Sellers

Buyers: Use the extra inventory and modest price softness to your advantage. Get pre-approved, focus on properties that have been listed longer, and negotiate on condition dates or closing costs rather than chasing every new listing.

Sellers: Price to the current market, not last year’s peak. Homes that sit well above recent comparable sales are more likely to linger. A clean, well-presented property priced in line with recent activity still attracts attention even in a slower market.

TLDR

August sales: 1,869 (−4.6% YoY), well below seasonal norms
Inventory still elevated; prices down ~5–7% depending on property type
Conditions lean buyer-friendly, but demand remains cautious
Townhouses held up best on the sales side

Thinking about buying, selling, or just wanting a clear read on your neighbourhood?

Reach out — happy to walk through the latest numbers and what they mean for your specific situation. No pressure, just a conversation.