Greater Vancouver
January 2026
Sales opened 2026 at one of their slowest paces in two decades, listings kept building, and prices slipped again across every property type.
Subscribe for monthly reports-30.9% vs 10-year January average
+38% vs 10-year January average
-1.2% vs December 2025
A slow start to a year of choice
January picked up right where 2025 left off. Sales were about 30% below what's typical for the month, while new listings came in almost 20% above the 10-year norm – so buyers are starting the year with far more choice than usual.
With supply well ahead of demand, prices eased again – the overall benchmark is down 5.7% from last year and 1.2% from December. Every property type is now in buyer's market territory, with detached homes the softest and townhouses and duplexes holding up a little better than the rest.
“Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal.” Andrew Lis, Chief Economist & VP Data Analytics, Greater Vancouver Realtors
- Keeping it in context: January sales were the fourth slowest in over two decades, following one of the lowest annual sales totals in over 20 years in 2025.
- Rates: the Bank of Canada held its policy rate at 2.25% on January 28.
- The outlook: GVR's 2026 forecast expects this year to look a lot like 2025 – tepid sales, elevated inventory and prices finishing the year relatively unchanged.
Sales-to-active listings ratio
This ratio compares how many homes sold in the month to how many were for sale. Historically, when it stays below 12%, prices tend to soften; above 20% for several months, prices tend to rise.
What each segment is doing
Detached
- vs last year
- -7.3%
- vs last month
- -1.5%
- January sales
- 300 (-21.1%)
- Sales-to-active
- 6.7%
The softest segment. With lots of houses to choose from and few competing offers, buyers have real room to negotiate on price, conditions and timing.
Townhouses & duplexes
- vs last year
- -5.4%
- vs last month
- -1.2%
- January sales
- 246 (-23.4%)
- Sales-to-active
- 11.1%
Still the firmest segment, sitting just below balanced. Well-priced family-sized homes continue to get the most attention.
Condos
- vs last year
- -5.9%
- vs last month
- -0.8%
- January sales
- 554 (-34.5%)
- Sales-to-active
- 10.3%
Sales saw the biggest drop of any type, which leaves first-time buyers with plenty of options and time to compare without bidding wars.
GVR reports duplexes, townhouses and row homes together as “attached” homes, and apartments/condos together.
Demand across Greater Vancouver
How many homes sold in January for every 100 new listings that came on. It's the best area-level read on demand GVR publishes each month. As a guide: under 40% leans toward buyers, 40–60% is balanced, and over 60% leans toward sellers.
| Area | Detached | Townhouse & duplex | Condo | All types |
|---|---|---|---|---|
| Vancouver West | 15%29 of 189 | 20%36 of 184 | 23%125 of 543 | 21% |
| Vancouver East | 21%34 of 165 | 18%41 of 229 | 20%52 of 254 | 20% |
| North Vancouver | 25%31 of 122 | 24%24 of 99 | 21%37 of 179 | 23% |
| West Vancouver | 10%16 of 158 | 36%4 of 11 * | 22%9 of 41 | 14% |
| Burnaby | 20%30 of 147 | 24%28 of 116 | 25%98 of 390 | 24% |
| Richmond | 18%29 of 164 | 20%26 of 128 | 25%74 of 301 | 22% |
| Coquitlam | 19%22 of 116 | 21%22 of 104 | 20%45 of 221 | 20% |
| New Westminster | 35%13 of 37 | 8%2 of 26 | 21%33 of 155 | 22% |
| Port Moody | 12%4 of 34 | 36%8 of 22 | 16%14 of 86 | 18% |
| Port Coquitlam | 23%11 of 48 | 11%6 of 57 | 19%11 of 59 | 17% |
| Maple Ridge / Pitt Meadows | 22%38 of 173 | 27%22 of 82 | 30%19 of 63 | 25% |
| South Delta | 14%12 of 84 | 12%5 of 43 | 21%7 of 33 | 15% |
| Squamish | 4%1 of 25 | 20%6 of 30 | 14%4 of 29 | 13% |
Region-wide, 1,107 sales against 5,157 new listings works out to 21%. New Westminster detached homes, Port Moody townhouses and Maple Ridge/Pitt Meadows condos were among the most active pockets, while detached homes in Squamish and West Vancouver and townhouses in New Westminster and Port Coquitlam leaned firmly toward buyers.
Plenty of choice, plenty of leverage
- Listings are well above the 10-year norm and sales are slow – take your time, compare, and negotiate.
- Detached homes offer the most room on price and subjects; condos aren't far behind.
- Get pre-approved now – with rates on hold, you'll be ready to act when the right home comes up this spring.
Price for today, not last July
- Buyers have lots of choice – pricing right from day one matters more than ever.
- Your 2026 assessment is based on July 2025 values; your list price should reflect today's sales.
- Presentation counts: staging, photography and pre-inspections help your home stand out in a crowded field.
Benchmark prices by area
The benchmark price describes a typical home in each area, with the change from January 2025 underneath. Most areas and property types are down on the year, led by Vancouver West detached homes (-12.2%). The exceptions are Squamish detached homes and townhouses and Tsawwassen condos, with Burnaby North townhouses flat.
| Area | Detached | Townhouse & duplex | Condo |
|---|---|---|---|
| Vancouver West | $2,956,400-12.2% | $1,397,300-5.2% | $777,200-4.3% |
| Vancouver East | $1,697,600-8.1% | $1,037,100-7.9% | $638,700-8.3% |
| North Vancouver | $2,037,600-6.9% | $1,269,900-7.5% | $780,300-0.8% |
| West Vancouver | $2,914,000-8.2% | n/a | $1,159,100-1.4% |
| Burnaby North | $1,939,300-8.0% | $920,4000.0% | $699,900-4.8% |
| Burnaby South | $2,028,500-9.4% | $950,000-6.4% | $766,400-6.6% |
| Richmond | $1,991,600-8.7% | $1,033,100-7.4% | $663,500-9.1% |
| Coquitlam | $1,647,800-6.3% | $982,500-7.2% | $668,800-8.0% |
| New Westminster | $1,473,300-8.3% | $876,600-6.8% | $596,400-8.9% |
| Port Moody | $1,997,100-2.6% | $982,900-1.1% | $695,100-5.3% |
| Port Coquitlam | $1,340,100-4.2% | $870,000-5.5% | $596,600-6.9% |
| Maple Ridge | $1,225,700-3.6% | $725,600-8.4% | $505,700-9.3% |
| Tsawwassen | $1,550,600-3.4% | $908,100-9.2% | $658,700+4.2% |
| Squamish | $1,738,400+11.6% | $1,005,100+1.6% | $563,200-6.6% |
Assessed values vs. today's market
2026 assessment notices landed this month. BC Assessment's 2026 values reflect the market as of July 1, 2025, and most Lower Mainland homeowners saw changes between -10% and 0%. Since then, GVR's overall benchmark price has kept sliding (-5.7% year over year to January 2026), so in many areas today's market value may sit below your 2026 assessment. If you're selling, price off current sales, not your assessment notice.
“The softening housing market is being reflected in 2026 property assessments.” Bryan Murao, Assessor, BC Assessment
| Municipality | Single-family (typical) | Strata (typical) |
|---|---|---|
| City of Vancouver | $2,092,000-5% | $772,000-3% |
| West Vancouver | $2,910,000-5% | $1,354,000-2% |
| North Vancouver (District) | $2,056,000-3% | $928,000-2% |
| North Vancouver (City) | $1,937,000-3% | $820,000-2% |
| Burnaby | $1,959,000-4% | $706,000-4% |
| Richmond | $1,745,000-8% | $735,000-6% |
| Coquitlam | $1,649,000-5% | $699,000-4% |
| Port Moody | $1,778,000-4% | $797,000-5% |
| Port Coquitlam | $1,358,000-4% | $648,000-5% |
| New Westminster | $1,560,000-2% | $617,000-4% |
| Delta | $1,353,000-4% | $722,000-5% |
| Maple Ridge | $1,183,000-3% | $635,000-2% |
| Squamish | $1,515,000+2% | $848,000+2% |
Typical assessed values for the 2026 roll, with change from the 2025 roll. Strata includes condos and townhouses. Source: BC Assessment, January 2, 2026.
What I'm watching this spring
Spring listings
New listings are already running almost 20% above normal. If spring brings another wave without more buyers, expect continued pressure on prices.
Interest rates
The Bank of Canada held at 2.25% in January. Its next decision is March 18 – one to watch for anyone renewing or buying this spring.
A 'new normal'
GVR expects 2026 to look a lot like 2025. Watch whether sales start to recover from January's slow pace as the year gets going.
Want to know what this means for your street?
Every neighbourhood – and every home – is a little different. I'm happy to put together a custom report on your area or talk through your plans.
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