February 2026 - Vancouver Real Estate Market Update

The Vancouver real estate market started 2026 much like it ended 2025 — quiet, measured, and highly competitive for sellers.

January home sales across Greater Vancouver were down 29% compared to January 2025 and 31% below the 10-year seasonal average. While those numbers may seem dramatic, they reflect a market that has been gradually slowing over the past year rather than a sudden shift.

Last year recorded one of the lowest annual sales totals in over two decades. January’s performance continues that trend.

The MLS® Home Price Index benchmark price for all residential properties in Metro Vancouver is now $1,101,900.

That represents:

* ⬇️ 6% decrease year-over-year

* ⬇️ 1% decrease month-over-month

Price adjustments have been gradual rather than sharp. The combination of cautious buyers and increased supply is creating moderate downward pressure, but not dramatic declines.

For buyers, this means improved negotiating power.

For sellers, accurate pricing is more important than ever.

The bigger headline this month is inventory.

Active listings are up 10% compared to last year and sit 38% above the 10-year seasonal average. This is the highest level of inventory the Vancouver housing market has seen since 2012.

More inventory means more choice for buyers — and more competition for sellers.

At the same time, new listings were actually down 7% year-over-year, though still 19% above the seasonal average. This tells us sellers are continuing to enter the market, but demand has not yet caught up.

The current sales-to-active listings ratio sits below 12%, placing Metro Vancouver firmly in buyers’ market territory.

Historically, when this ratio stays below 12% for an extended period, prices tend to experience downward pressure. When it rises above 20%, prices typically increase.

Right now, we are clearly in a more balanced-to-buyer-favouring environment across detached homes, condos, and townhomes.

Current forecasts suggest that 2026 may resemble 2025 in several ways:

* Slower sales activity

* Elevated housing inventory

* Relatively stable pricing with mild downward pressure

There is pent-up demand in the Vancouver real estate market, but ongoing economic and political uncertainty continues to keep some buyers on the sidelines.

You have more choice than you’ve had in years.

Conditions allow for due diligence, negotiations, and thoughtful decision-making.

Preparation, pricing strategy, and marketing execution matter more than ever. Homes that are priced realistically are still selling — but overpricing is being corrected quickly by the market.

The February 2026 Vancouver real estate market update shows a slower but more predictable environment. Inventory remains elevated, sales are subdued, and prices are adjusting gradually.

This is not a crash.

It’s a recalibration.

And as always, performance varies significantly by neighbourhood and property type. A condo in Brentwood behaves differently than a detached home in Kitsilano or South Vancouver.

If you’d like a neighbourhood-specific breakdown or a current home value estimate, feel free to reach out. Understanding the numbers is one thing — knowing how they apply to you is what truly matters.