July 2026 Market Update

Metro Vancouver Real Estate

Market Update – C21 Team

July 2026 Edition  |  Prepared by Doug Foulds, Managing Broker

At a Glance

S/A Ratio Trend – 2026

Metro Vancouver overall S/A ratio, GVR monthly data  •  dashed line = 12% buyer’s-market threshold

Key Insight

Overall sales-to-active-listings sits at 13% – right at the edge of buyer’s-market territory. June’s ten per cent sales bump didn’t carry into July; GVR Chief Economist Andrew Lis called it “one step forward, one step back,” with apartment sales down 18% doing most of the damage.

Prices are holding relatively steady for now – the composite benchmark slipped just 0.9% month-over-month – but with active listings running nearly 27% above the 10-year seasonal average, there’s plenty of room for buyers to shop and for softness to persist if sales don’t pick back up.

What’s HotAttached homes / townhomes – best-performing segment at 15.8% S/A, essentially flat on sales YoY (-1.1%) while everything else fell harder. Best story to tell right now.

 What’s NotApartments – sales down 17.8% YoY, new listings down nearly 17%. Weakest segment this month and the one dragging the overall numbers down.

Client Conversations

For Buyers

• Selection is excellent – active listings are 26.8% above the 10-year average.
• They aren’t in any hurry, but they’re active for the right price – use that to negotiate.
• Apartments especially favour buyers right now with the softest sales ratio.

For Sellers

• Price to today’s market – benchmark prices are down 6-7.5% year over year across all types.
• With 16,476 competing listings, presentation and pricing accuracy matter more than ever.
• Attached/townhome sellers have the strongest hand this month – 15.8% S/A ratio.

Looking Ahead

3-Month Outlook

Expect the holding pattern to continue into fall. With inventory elevated and July sales stepping back from June’s gain, don’t expect a strong seasonal push – watch apartments in particular for further softening.

12-Month Outlook

BCREA’s July “Phantom Recovery” report points to a gradual, not dramatic, recovery – household confidence remains fragile amid trade and economic uncertainty, with a more meaningful rebound not expected until 2027.

Winning Strategy This Month

This is a selection-and-negotiation market, not a rush market. Lean into that with buyers – there’s real room to find the right home and negotiate terms, especially on apartments.

With sellers, the conversation is about realistic pricing and standout presentation. Point to the attached/townhome segment as proof that well-priced, well-marketed listings are still moving.