Greater Vancouver
July 2026
June's sales bounce didn't last – July sales slipped nearly 10% from last year, fewer sellers listed, and prices eased about 1% on the month.
Subscribe for monthly reports-18.6% vs 10-year July average
+26.8% vs 10-year July average
-0.9% vs June 2026
One step forward, one step back
After an encouraging June, July sales gave most of that momentum back. Sales were down about 10% from last July and ran nearly 19% below what's typical for the month, with condo and apartment sales falling the most (about 18%).
Sellers also held back – new listings were down 11.5% from a year ago, and total inventory is now slightly below last year's level, though still well above the 10-year norm. With demand and supply both quiet, prices slipped about 1% on the month and the overall benchmark is down 6.2% from last year.
“Over the past few years, the sales activity story has often been one step forward, one step back, and the June and July data are a prime example of this pattern.” Andrew Lis, Chief Economist & VP Data Analytics, Greater Vancouver Realtors
- What changed: June's gain in sales across all home types wasn't sustained – July sales fell nearly 10%, led by an 18% drop in apartment sales.
- Rates: the Bank of Canada held its policy rate at 2.25% on July 15.
- Fewer sellers: new listings were down 11.5% year over year, and GVR says the slowdown in sellers is starting to bring overall inventory down gradually.
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
- -7.0%
- vs last month
- -1.1%
- July sales
- 639 (-3.2%)
- Sales-to-active
- 10.5%
Still the softest segment, with prices down 7% on the year. Buyers have room to negotiate on price, conditions and timing.
Townhouses & duplexes
- vs last year
- -6.0%
- vs last month
- -1.5%
- July sales
- 454 (-1.1%)
- Sales-to-active
- 15.8%
The most active segment, with sales nearly flat on last July. Prices dipped 1.5% on the month, so well-priced family homes are a good opportunity.
Condos
- vs last year
- -7.5%
- vs last month
- -1.0%
- July sales
- 952 (-17.8%)
- Sales-to-active
- 14.0%
Sales fell the most here, but so did new listings. For first-time buyers, it's a good time to compare options without much competition.
GVR reports duplexes, townhouses and row homes together as “attached” homes, and apartments/condos together.
Demand across Greater Vancouver
How many homes sold in July 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 | 43%67 of 157 | 29%50 of 173 | 42%245 of 578 | 40% |
| Vancouver East | 37%66 of 179 | 45%81 of 182 | 52%97 of 187 | 45% |
| North Vancouver | 53%55 of 104 | 32%28 of 87 | 36%69 of 194 | 39% |
| West Vancouver | 30%33 of 111 | 50%5 of 10 * | 41%16 of 39 | 34% |
| Burnaby | 39%50 of 129 | 39%51 of 130 | 47%171 of 364 | 44% |
| Richmond | 37%65 of 174 | 57%71 of 124 | 36%91 of 256 | 41% |
| Coquitlam | 36%54 of 151 | 36%44 of 123 | 42%88 of 212 | 38% |
| New Westminster | 25%13 of 51 | 37%10 of 27 | 41%61 of 148 | 37% |
| Port Moody | 30%16 of 53 | 71%17 of 24 | 38%23 of 60 | 41% |
| Port Coquitlam | 26%18 of 68 | 39%17 of 44 | 37%21 of 57 | 33% |
| Maple Ridge / Pitt Meadows | 40%80 of 198 | 35%32 of 92 | 26%19 of 74 | 36% |
| South Delta | 52%37 of 71 | 41%14 of 34 | 48%13 of 27 | 48% |
| Squamish | 52%15 of 29 | 100%21 of 21 | 65%13 of 20 | 70% |
Region-wide, 2,061 sales against 4,991 new listings works out to 41%. Squamish and Port Moody townhouses, Richmond townhouses and North Vancouver detached homes were among the most competitive pockets, while detached homes in New Westminster, Port Coquitlam, Port Moody and West Vancouver leaned firmly toward buyers.
Plenty of choice, room to negotiate
- Inventory is still well above the 10-year norm for July, so take your time and compare.
- Detached homes remain in buyer's-market territory – there's room to negotiate on price and subjects.
- Get pre-approved now – with rates on hold, you'll be ready if the right home comes up.
Fewer competing listings, careful buyers
- Fewer new listings means a bit less competition, but buyers are still cautious – price to today's market.
- Presentation counts: staging, photography and pre-inspections help your home stand out.
- Townhouses and duplexes are the most active segment; detached sellers should plan for more negotiation.
Benchmark prices by area
The benchmark price describes a typical home in each area, with the change from July 2025 underneath. Every area and property type is down on the year. West Vancouver and Squamish condos and New Westminster detached homes saw the biggest drops, while townhouses in Squamish and Tsawwassen held up best.
| Area | Detached | Townhouse & duplex | Condo |
|---|---|---|---|
| Vancouver West | $3,011,300-7.4% | $1,321,100-6.5% | $768,700-6.4% |
| Vancouver East | $1,642,100-8.7% | $1,009,100-8.7% | $628,600-7.5% |
| North Vancouver | $2,078,200-5.0% | $1,237,300-6.0% | $785,700-4.3% |
| West Vancouver | $2,897,500-8.7% | n/a | $1,104,000-13.6% |
| Burnaby North | $1,858,100-11.3% | $886,600-6.3% | $673,400-6.4% |
| Burnaby South | $1,919,800-10.7% | $924,200-10.6% | $741,600-7.4% |
| Richmond | $1,911,700-8.7% | $1,035,200-5.9% | $639,700-9.6% |
| Coquitlam | $1,627,600-5.2% | $990,900-8.6% | $651,400-7.2% |
| New Westminster | $1,384,300-13.3% | $872,900-4.5% | $582,400-8.3% |
| Port Moody | $1,967,700-4.6% | $983,400-3.0% | $688,300-5.8% |
| Port Coquitlam | $1,308,500-3.4% | $852,300-9.5% | $570,700-7.7% |
| Maple Ridge | $1,184,800-6.4% | $718,100-7.9% | $501,700-6.7% |
| Tsawwassen | $1,472,800-4.2% | $938,000-2.2% | $589,500-9.3% |
| Squamish | $1,638,300-3.6% | $999,600-1.8% | $545,800-13.1% |
Assessed values vs. today's market
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 (-6.2% year over year to July 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 as summer winds down
Inventory
New listings have been slowing for months. If that continues into the fall, the extra choice buyers have enjoyed could start to tighten.
Interest rates
The Bank of Canada held at 2.25% in July. Its next decision is September 2 – one to watch for anyone renewing or buying this fall.
Sales momentum
June's bounce faded in July. Watch whether August sales pick up or confirm the one-step-forward, one-step-back pattern.
Want to know what this means for your street?
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