Why Condos Are Feeling the Most Pressure in Today's Vancouver Housing Market
May delivered an interesting twist in the Vancouver real estate market. While it recorded the highest number of home sales we've seen so far in 2026, it was still the second-slowest May in the past 25 years. In other words, activity improved compared to earlier this year, but the market remains well below what's considered normal for this time of year.
So, who is feeling the biggest impact? Right now, it's condo owners.
Vancouver Condo Market Continues to Struggle 😬
The Metro Vancouver condo market remains the weakest segment of the housing market. Compared to May 2025, condo sales declined approximately 7%, while benchmark prices fell 8% year over year.
However, the story isn't the same across every neighbourhood.
Areas such as North Vancouver and East Vancouver actually experienced an increase in condo sales, proving that local market conditions continue to play a significant role. Buyers remain active in desirable neighbourhoods, even as the broader condo market softens.
For anyone considering buying or selling a condo, understanding neighbourhood-specific trends is becoming more important than ever.
Detached Homes Continue to Lead the Market 🏡
Unlike condos, detached homes continue to show resilience.
Detached properties were the only major property type where sales increased compared to last spring, demonstrating that demand for single-family homes remains relatively strong despite higher borrowing costs and economic uncertainty.
Townhomes, meanwhile, have been moving at a slower pace, following a trend more similar to the condo market than detached homes.
Why Vancouver Home Prices Remain Stable ⚖️
Despite slower overall market conditions, home prices haven't experienced a dramatic decline.
One of the biggest reasons is the slowdown in new supply. New listings fell 12% compared to May 2025, and total inventory declined for the third consecutive month. With fewer homeowners listing their properties, buyers have less fresh inventory to choose from, helping support prices even in a softer market.
The MLS® Benchmark Price for all residential properties across Metro Vancouver currently sits at approximately $1.1 million, remaining virtually unchanged from the previous month.
What Buyers and Sellers Should Watch This Summer
Many economists expect the Greater Vancouver housing market to remain relatively quiet throughout the summer months. While demand has improved slightly from earlier this year, market activity continues to be balanced, giving buyers more time to make decisions and encouraging sellers to price their homes strategically.
If you're planning to buy, sell, or simply want to understand what your home is worth in today's market, now is a great time to start preparing before the busier fall season arrives. Every neighbourhood is performing differently, and having a strategy tailored to your local market can make all the difference.
