What's Happening in the Greater Vancouver Housing Market?

Oct 10, 2026 · @Heidi

The short answer: Greater Vancouver is a buyer's market right now, and prices are easing across most of the region. Fewer homes are selling, buyers are taking their time, and sellers who price realistically are the ones getting deals done.

Here's what I'm seeing in the numbers, and what it could mean for you.

By the numbers

Prices have dipped about 4% compared with last year, with detached homes and condos and townhouses moving down by similar amounts. Detached sales have held steady, but fewer condos and townhouses are selling. Listings are down for both.

This summer was especially quiet. July had one of the slowest months for sales in more than 20 years. New listings have also been running below last year's levels for several months in a row. Even with less inventory, prices have softened in nearly every part of the market, which tells me demand, not supply, is what's holding things back.

Why buyers are holding back

The biggest factor is uncertainty. Between interest rates, tariffs and headlines about falling prices, many buyers are waiting to see whether prices drop further before they commit.

Vancouver is also lagging behind the rest of Canada. Our market is more expensive, so higher borrowing costs and economic worries hit harder here. At the top end of the market, some sellers are making significant price reductions to attract buyers.

One thing hasn't changed: location still matters most. The buyers I work with are willing to compromise on size, finishes or parking, but rarely on the neighbourhood they want to live in.

What's ahead for the rest of 2026

The forecast is for more of the same. For the full year, average prices are expected to finish about 3% lower than 2025 for detached homes and about 1% lower for condos and townhouses. Sales are expected to come in roughly 9% lower for detached homes and 6% lower for attached homes.

In other words, I expect buyers to keep the upper hand through the end of the year.

What this means for you

If you're buying, this is one of the best opportunities in years to negotiate. You have more time to decide, more room to include conditions like inspections and financing, and less competition from other buyers.

If you're selling, pricing is everything. Homes that are priced right and well presented are still selling. Homes priced for last year's market tend to sit. A clear pricing strategy from day one makes all the difference.

Whether you're thinking of buying, selling or both, I'd be happy to walk you through what's happening in your neighbourhood. Reach out anytime at heidi@heidirahn.com or visit heidirahn.com.