Vancouver Housing Market Outlook 2026
Vancouver Gives Back June’s Gains as Condo Sales Slide 18%
According to Greater Vancouver REALTORS® (GVR), home sales registered on the MLS in Metro Vancouver fell 9.8% in July 2026 from a year earlier, erasing most of the roughly 10% annual gain the region posted in June. Chief economist Andrew Lis described the pattern as the market advancing one month and giving back ground the next.
- The composite MLS Home Price Index benchmark was $1,088,800, down 6.2% year-over-year and 0.9% from June, the sharpest annual decline among Canada’s largest markets. Total sales of 2,061 were 18.6% below the 10-year seasonal average for July.
- New listings totalled 4,991, down 11.5% from a year ago but still roughly in line with the 10-year average, keeping overall supply from tightening despite weaker demand.
- Apartment sales fell 17.8% year-over-year to 952, the steepest decline of any property type. Detached sales dropped a more modest 3.2% to 639, while attached home sales slipped just 1.1%.
The condominium segment is where Vancouver’s slowdown is concentrated. The apartment benchmark fell to $688,000, down 7.5% annually, while the detached benchmark eased to $1,822,900, down 7% but still commanding a premium of well over $1 million above the condo figure. Sales-to-active-listings ratios of 10.5% for detached homes, 15.8% for attached, and 14% for apartments all sit inside or below the range associated with balance, with the detached figure edging into buyer-favouring territory. The Bank of Canada held its policy rate at 2.25% at its July 15 decision, leaving borrowing costs as a stable backdrop against a market that is cooling on the demand side rather than the rate side.
A market that gives back its own gains month to month rewards buyers who are patient and prepared. Compare current mortgage rates in Vancouver and connect with our nesto mortgage experts to see what today’s conditions mean for your budget.
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Vancouver Housing Market Highlights
- The average selling price of a home in Vancouver decreased by 6% year-over-year to $1,099,100 in June.
- The average selling price of a single-family home in Vancouver decreased by 6.8% year-over-year to $1,849,900 in June.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 5% year-over-year to $1,046,200 in June.
- The average selling price of a condo in Vancouver decreased by 7.1% year-over-year to $695,200 in June.
- The average rent in Vancouver decreased by 4.9% year-over-year to $2,686 for June.
- August 21, 2026: Today’s lowest mortgage rate in Vancouver is 4.24% for a 5-year fixed.
Data from Greater Vancouver REALTORS® (GVR) indicates that the average price of resale residential homes sold across Vancouver in June was $1,099,100, and it decreased by 6% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 41%, indicating Balanced market conditions in Vancouver for June.
Average Home Prices in Vancouver by Property Type
Composite Home Prices
The average selling price of a home in Vancouver was $1,099,100 for the month of June, that’s decreased by 0.1% month-over-month. On a year-over-year basis, Vancouver home prices have decreased 6% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,849,900 for the month of June, that’s decreased by 0.4% month-over-month. On a year-over-year basis, single-family home prices in Vancouver have decreased by 6.8% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Vancouver was $1,046,200 for the month of June, that’s decreased by 0.2% 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 $695,200 for the month of June, that’s decreased by 0.4% month-over-month. On a year-over-year basis, the price of a condo in Vancouver has decreased 7.1% year-over-year.
Vancouver Home Sales, New Listings and Market Conditions
Transactions and Number of Sales
The number of sales in Vancouver was 2,061 during June, that’s decreased by 13.8% month-over-month. On a year-over-year basis, sales in Vancouver have decreased by 9.8% year-over-year.
New Listings
The number of new listings in Vancouver was 4,991 during June, that’s decreased by 15.9% month-over-month. On a year-over-year basis, new listings in Vancouver have decreased by 11.5% year-over-year.
Sales-to-New-Listings Ratio (SNLR)
The sales-to-new-listings ratio (SNLR) in Vancouver was 41% during June, indicating a Balanced. On a monthly basis, that’s increased by 2.6% month-over-month. Vancouver’s yearly sales-to-new-listings ratio has increased by 1.9% year-over-year.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% indicates a buyer’s market, where buyers hold 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
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Vancouver Market Rents Snapshot
The average rent in Vancouver was $2,686 for the month of June, which decreased by 4.9% year-over-year.
The average rent for a 1-bedroom apartment in Vancouver was $2,377 for the month of June, 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 June, which decreased by 4.6% year-over-year.
Average Rent by City in Canada
| Rank | City | Total Average | 1 Bedroom | 2 Bedrooms |
|---|---|---|---|---|
| 1 | North Vancouver | $3,039 | $2,588 | $3,458 |
| 2 | Vancouver | $2,686 | $2,377 | $3,255 |
| 3 | Toronto | $2,580 | $2,234 | $2,947 |
| 4 | North York | $2,565 | $2,188 | $2,743 |
| 5 | Burnaby | $2,543 | $2,159 | $2,802 |
| 6 | Coquitlam | $2,526 | $2,134 | $2,753 |
| 7 | Oakville | $2,517 | $2,198 | $2,819 |
| 8 | Kanata | $2,514 | $2,230 | $2,751 |
| 9 | Etobicoke | $2,439 | $2,094 | $2,624 |
| 10 | Halifax | $2,372 | $2,071 | $2,616 |
| 11 | Burlington | $2,370 | $2,075 | $2,448 |
| 12 | Mississauga | $2,357 | $2,052 | $2,445 |
| 13 | Vaughan | $2,319 | $2,048 | $2,580 |
| 14 | Victoria | $2,307 | $2,016 | $2,682 |
| 15 | Brampton | $2,285 | $2,001 | $2,379 |
| 16 | Langley | $2,239 | $1,899 | $2,457 |
| 17 | Ajax | $2,234 | $1,878 | $2,218 |
| 18 | Guelph | $2,217 | $1,905 | $2,280 |
| 19 | Scarborough | $2,213 | $1,872 | $2,288 |
| 20 | New Westminster | $2,190 | $1,880 | $2,656 |
| 21 | Surrey | $2,167 | $1,794 | $2,239 |
| 22 | Ottawa | $2,164 | $1,960 | $2,449 |
| 23 | Barrie | $2,155 | $1,863 | $2,108 |
| 24 | Waterloo | $2,118 | $1,915 | $2,234 |
| 25 | Kingston | $2,100 | $1,827 | $2,271 |
| 26 | Laval | $2,096 | $1,732 | $2,356 |
| 27 | Nanaimo | $2,092 | $1,835 | $2,290 |
| 28 | Kelowna | $2,091 | $1,808 | $2,248 |
| 29 | East York | $2,050 | $1,791 | $2,312 |
| 30 | Cambridge | $2,042 | $1,847 | $2,139 |
| 31 | Greater Sudbury | $2,021 | $1,708 | $2,072 |
| 32 | Oshawa | $2,002 | $1,740 | $2,017 |
| 33 | Airdrie | $1,987 | $1,441 | $1,804 |
| 34 | Peterborough | $1,977 | $1,742 | $1,957 |
| 35 | Brossard | $1,970 | $1,722 | $2,199 |
| 36 | Kamloops | $1,956 | $1,731 | $2,042 |
| 37 | Montreal | $1,941 | $1,769 | $2,255 |
| 38 | Niagara Falls | $1,940 | $1,600 | $1,980 |
| 39 | Brantford | $1,936 | $1,807 | $2,043 |
| 40 | Hamilton | $1,929 | $1,654 | $2,235 |
| 41 | London | $1,924 | $1,670 | $2,058 |
| 42 | Kitchener | $1,908 | $1,684 | $2,078 |
| 43 | Calgary | $1,883 | $1,513 | $1,847 |
| 44 | St. Catharines | $1,817 | $1,558 | $1,931 |
| 45 | Welland | $1,779 | $1,522 | $1,985 |
| 46 | Gatineau | $1,775 | $1,592 | $1,852 |
| 47 | Côte Saint-Luc | $1,704 | $1,441 | $1,997 |
| 48 | Windsor | $1,685 | $1,492 | $1,921 |
| 49 | Sarnia | $1,680 | $1,495 | $1,728 |
| 50 | Winnipeg | $1,663 | $1,463 | $1,759 |
| 51 | Edmonton | $1,617 | $1,282 | $1,638 |
| 52 | Red Deer | $1,536 | $1,293 | $1,509 |
| 53 | Lethbridge | $1,519 | $1,342 | $1,571 |
| 54 | Quebec City | $1,516 | $1,279 | $1,611 |
| 55 | Saskatoon | $1,514 | $1,310 | $1,537 |
| 56 | Regina | $1,444 | $1,300 | $1,540 |
| 57 | Fort McMurray | $1,412 | $1,221 | $1,426 |
| 58 | Medicine Hat | $1,359 | $1,237 | $1,380 |
| 59 | Lloydminster | $1,348 | $1,072 | $1,386 |
| 60 | St. John's | $1,215 | $1,105 | $1,314 |
Source: Rentals.ca Network Data & Urbanation Inc.
Average Rent by Province in Canada
Rental Price Growth by Housing Type
How Does Renting Compare With Homeownership in Vancouver?
Each $100,000 in mortgage balance costs an average of $530.91 per month on nesto’s lowest fixed 5-year rate at 4.24% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.45%.
For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.42. The interest rates used for calculation are those offered on insured purchases with less than a 20% down payment on a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.
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Frequently Asked Questions (FAQ) About the Vancouver Housing Market in 2026
Are Vancouver Housing Market Conditions Favouring Buyers or Sellers in 2026?
Vancouver housing market conditions lean toward buyers in most segments in 2026. Sales-to-active-listings ratios sat at 10.5% for detached homes, 15.8% for attached homes, and 14% for apartments in July, with the detached figure edging into territory associated with downward price pressure. Total sales were 18.6% below the 10-year seasonal average for the month, giving buyers more selection and time than they have had through most of the past several years.
Are Vancouver Home Prices Going Up or Down in 2026?
Vancouver home prices are falling in 2026, and the decline is the sharpest among Canada’s largest markets. The composite MLS Home Price Index benchmark was $1,088,800 in July, down 6.2% year over year and 0.9% from June. The detached benchmark eased to $1,822,900, down 7% annually, while the apartment benchmark fell to $688,000, down 7.5%, making condominiums the fastest-falling segment on a percentage basis.
Why Did Vancouver Sales Give Back June’s Gains in July?
Vancouver sales gave back June’s gains in July because the pattern this year has been one step forward and one step back, as GVR chief economist Andrew Lis described it. June sales rose roughly 10% year over year, but July sales fell 9.8%, essentially erasing that gain. New listings stayed closer to their long-term average, so the swing reflects shifting buyer demand from month to month rather than a change in supply.
Which Vancouver Property Type Is Weakest in 2026?
Apartments are the weakest property type in Vancouver in 2026. Apartment sales fell 17.8% year over year in July, more than five times the 3.2% decline in detached sales, and the apartment benchmark dropped 7.5% annually to $688,000. The Bank of Canada has flagged the unsold condominium overhang in Vancouver and Toronto specifically as a risk to the broader national housing recovery, and Vancouver’s July data shows that pressure is concentrated squarely in the condo segment.
What Is Limiting Vancouver Housing Demand in 2026?
Affordability remains the dominant factor limiting housing demand in Vancouver in 2026, even after multiple years of price declines. A benchmark of $1,088,800 still requires a household income well above what most local buyers earn, and the mortgage stress test requires borrowers to qualify at a rate higher than they will actually pay, which compounds the effect of Vancouver’s still-elevated price levels. Slowing population growth in British Columbia has added a second layer of softening demand on top of the affordability constraint.
Is Vancouver Real Estate a Good Investment in 2026?
Vancouver real estate remains a long-term-oriented purchase rather than a short-term investment in 2026, given prices are down across every major segment on a year over year basis. The detached benchmark of $1,822,900 and the apartment/condo benchmark of $688,000 both sit meaningfully below their 2025 levels. Buyers considering Vancouver in the current environment are generally weighing years-long ownership horizons and long-term appreciation potential rather than near-term price gains.
Is It Cheaper to Rent or Buy in Vancouver in 2026?
Renting is significantly cheaper month-to-month than buying in Vancouver in 2026, and the gap remains the widest of any major Canadian market given the city’s benchmark prices. Vancouver did record the highest average asking rent of any major market this year, at $2,677 in July, yet that figure is still far below what a mortgage payment on a comparable property would cost. Which option costs less over time depends on how long it takes to save the down payment, how long you plan to stay, and the mortgage rate you qualify for.
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