Vancouver Housing Market Outlook 2026
Vancouver Hits Record-Low Home Sales Despite Lower Rates
Vancouver closed 2025 in a notably weak position, with home sales falling to their lowest annual level in more than 2 decades as affordability challenges and economic uncertainty kept buyers sidelined. Total residential sales fell to roughly 23,800 transactions, well below historical norms, even as sellers brought a record number of listings to market. Inventory remained elevated through year-end, giving buyers more choice and leverage, while demand stayed muted following trade-related uncertainty and lingering concerns about price direction. December activity underscored this softness, with sales running well below the 10-year seasonal average despite a modest pickup earlier in the second half of the year.
Price trends continued to adjust lower under the weight of weak demand and abundant supply. The MLS Home Price Index composite ended the year down about 4.5% year over year, with declines spread across detached homes, townhouses, and condominiums. Lower borrowing costs and easing prices have improved conditions on paper, but confidence remains fragile, and many buyers remain in a wait-and-see mode. Heading into 2026, Vancouver starts the year with improved affordability and ample inventory, but a sustained recovery will likely depend on clearer economic signals and a decisive return of buyer confidence rather than rate relief alone.
Vancouver Housing Market Highlights
- The average selling price of a home in Vancouver decreased by 4.5% year-over-year to $1,114,800 in December.
- The average selling price of a single-family home in Vancouver decreased by 4.9% year-over-year to $1,887,800 in December.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 5% year-over-year to $1,056,600 in December.
- The average selling price of a condo in Vancouver decreased by 5.3% year-over-year to $710,000 in December.
- The average rent in Vancouver is now $2,664 for December.
- January 18, 2026: Today’s lowest mortgage rate in Vancouver is
for a 5-year fixed.
Data from the Greater Vancouver Realtors (GVR) indicates that the average price of resale residential homes sold across Vancouver in December was $1,114,800, and itdecreased of 4.5% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 83%, indicating Sellers market conditions in Vancouver for December.
Composite Home Prices
The average selling price of a home in Vancouver was $1,114,800 for the month of December, that’s decreased by 0.8% month over month. On a year-over-year basis, Vancouver home prices have decreased 4.5% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,887,800 for the month of December, that’s decreased by 0.9% month over month. On a year-over-year basis, single-family home prices in Vancouver have decreased by 4.9% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Vancouver was $1,056,600 for the month of December, that’s decreased by 0.8% month over month. On a year-over-year basis, the price of a townhouse in Vancouver has decreased by 5% year-over-year.
Condo Prices
The average selling price of a condo in Vancouver was $710,000 for the month of December, that’s decreased by 0.6% month over month. On a year-over-year basis, the price of a condo in Vancouver has decreased 5.3% year-over-year.
Transactions – Number of Sales
The number of sales in Vancouver was 1,537 during December, that’s decreased by 16.7% month over month. On a year-over-year basis, sales in Vancouver have decreased by 12.9% year-over-year.
New Listings
The number of new listings in Vancouver was 1,849 during December, that’s decreased by 49.7% month over month. On a year-over-year basis, new listings in Vancouver have increased by 10.3% year-over-year.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Vancouver was 83% during December, indicating a Sellers. On a monthly basis, that’s increased by 65.4% month over month. Vancouver’s yearly sales-to-new-listings ratio has decreased by 21.1% year-over-year.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% suggests a buyer’s market, where buyers have the upper hand and greater negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in Vancouver
Vancouver Market Rents Snapshot
The average rent in Vancouver was $2,664 for the month of December.
The average rent for a 1-bedroom apartment in Vancouver was $2,391 for the month of December, which decreased by 4.8% year over year.
The average rent for a 2-bedroom apartment in Vancouver was $3,255 for the month of December, which decreased by 5.1% year over year.
Rental Price Changes by City
Rental Price Changes by Province
Rental Price Growth by Housing Type
How Does Renting Compare with Homeownership in Vancouver?
Each $100,000 in mortgage balance costs an average of $572.53 per month on nesto’s lowest fixed 5-year rate at
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Frequently Asked Questions on Vancouver Housing Market Outlook for 2026
Will Vancouver’s housing prices increase in 2026?
Vancouver’s home prices are expected to rise slightly in 2026 as demand remains strong and housing supply struggles to keep pace.
Is Vancouver’s housing market going to crash in 2025?
A crash is unlikely in Vancouver. Despite affordability concerns, low inventory and high demand will sustain home prices.
How affordable will homes in Vancouver be in 2026?
Vancouver remains Canada’s most expensive housing market. Buyers may consider condos or suburban areas in the GVA for better affordability.
What trends will drive Vancouver’s market in 2026?
Factors include low housing supply, increasing demand, and declining mortgage rates.
Should I buy a home in Vancouver in 2026?
If you’re financially prepared to become a homeowner, buying during periods of price stabilization in 2026 could offer long-term benefits.
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