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Metro Vancouver Real Estate Intelligence
Century 21 In Town Realty
Metro Vancouver
Market Update
February 2026 Edition · Published March 2026
Market Signal: S/A Ratio Crosses the 12% Threshold — Momentum Building
February delivered a clear market signal: the sales-to-active listings ratio climbed to 12.6% — up from 9.1% in January — crossing the key 12% threshold that historically marks the boundary between downward and stable price pressure. Hey Top Producing Realtors, here’s what the numbers mean for your clients right now.
By the Numbers
February 2026 Market Snapshot
S/A Ratio (Composite)
12.6%
↑ from 9.1% in Jan
Total Sales
1,648
−9.8% YoY
Active Listings
13,545
+6.3% YoY
Composite Benchmark
$1.10M
−6.8% YoY
Sales-to-Active Listings Ratio by Property Type
Detached9.0%
Attached / Townhouse16.6%
Apartment14.1%
Composite (All Types)12.6%
0–12%Buyers Market↓ Price Pressure
12–20%Balanced→ Stable Prices
20%+Sellers Market↑ Price Pressure
“With fewer sellers coming to market than last year, a pick-up in demand heading into spring could result in a stagnation of standing inventory, which may support prices around current levels. The spring market will be the litmus test of whether we continue along this new normal, or see any significant surprises.”
— Andrew Lis, Chief Economist & VP Data Analytics, Greater Vancouver REALTORS®
Property Intelligence
What’s Hot & What’s Not
On Fire
Attached / Townhouses
S/A 16.6% · Sales +7.8% YoY · Only type with YoY sales gain · Benchmark $1,046,100
Apartments (Mid-Market)
S/A 14.1% · Benchmark $708,200 · MoM +0.5% · Entry-price demand holding
Squamish (All Types)
Composite +2.9% YoY · Detached +11.1% YoY · Townhouse S/A robust
Whistler / Pemberton
Detached benchmark +12.3% YoY · Detached $2,837,400 · Lifestyle market outperforming
Vancouver East
MoM +0.6% composite · Attached sales +70.7% MoM recovery · Relative value play
Slow Lane
Detached (Region-Wide)
S/A only 9.0% — deep buyer’s market · Sales −10.5% YoY · Benchmark −8.8% YoY
Burnaby East & North
Composite −10.8% & −9.0% YoY respectively · Detached North −11.3% YoY
New Westminster
Composite −9.4% YoY · Apartments −10.6% YoY · Inventory elevated
Coquitlam Detached
−10.6% YoY · Benchmark $1,610,900 · High inventory, cautious buyers
Vancouver West Detached
−13.7% YoY · Benchmark $2,931,700 · Luxury segment stagnant
Sub-Market Breakdown
Area Benchmarks — February 2026
| Area | Composite | 1-Year Change | Signal |
|---|---|---|---|
| Squamish | $1,122,200 | +2.9% | Hot |
| Whistler | $1,373,400 | +2.6% | Hot |
| Vancouver East | $1,149,300 | −5.6% | Active |
| North Vancouver | $1,279,300 | −5.9% | Active |
| Richmond | $1,058,000 | −7.6% | Soft |
| Coquitlam | $997,300 | −7.8% | Soft |
| Burnaby (North) | $910,400 | −9.0% | Soft |
| New Westminster | $741,500 | −9.4% | Soft |
| Vancouver West | $1,228,600 | −7.7% | Soft |
| West Vancouver | $2,317,000 | −7.9% | Soft |
Strategic Guidance
Tips for Your Clients
For Buyers
1
Act before spring competition arrives. Inventory is still elevated (37% above the 10-year average), but new listings are dropping. The window of maximum buyer leverage may be closing.
2
Look hard at townhouses. The attached segment has the strongest S/A ratio (16.6%) and is the only property type posting year-over-year sales gains. Price softening has been more moderate — these won’t stay affordable long.
3
Detached buyers: negotiate hard. With a 9% S/A ratio, detached homes remain firmly in buyer’s market territory. Sellers in Burnaby, New Westminster and Coquitlam are motivated. Use subject-to-financing confidently.
4
Rate conditions are your friend. Bank of Canada overnight rate at 2.25%, 5-year fixed near 4.5% (BCREA Q1 2026). That’s a meaningful improvement from recent peaks. Get pre-approved now.
5
Think long term. Vancouver’s 10-year composite HPI is up 19.2%. Even in a soft market, the structural case for Metro Vancouver real estate remains intact.
🏷 For Sellers
1
Spring is your moment — but price it right from day one. Andrew Lis flagged fewer new sellers as a key trend. That’s your opportunity, but overpriced listings still sit. Buyers have data.
2
Townhouse sellers: you have leverage. Your segment is the most competitive in the market right now. Price to the benchmark ($1,046,100) and expect solid activity.
3
Detached sellers: manage expectations. Benchmarks are down 8.8% year-over-year. If you need to sell, price realistically — strategy beats stubbornness in this environment.
4
Presentation still wins listings. In a market with 13,545 active listings, professional photography, video and staging separate you from the noise. Don’t skip it.
5
Can’t sell? Consider renting. Rental demand in Metro Vancouver remains structurally strong. A hold strategy with professional property management may out-perform a forced sale at current prices.
BCREA Q1 2026 Forecast + GVR Analysis
Where Is This Market Heading?
3-Month Outlook (Spring 2026)
Spring is the market’s litmus test (GVR’s words). With new listings down 6.4% and the S/A ratio crossing 12%, momentum is building. Expect townhouses and apartments to tighten first as spring demand picks up. Detached will lag — inventory remains heavy and the 9% S/A ratio means sellers still need to compete. Watch the S/A ratio closely: if it reaches 15–16% by April, expect minor upward price nudges on attached product.
12-Month Outlook (2026)
BCREA forecasts Greater Vancouver sales at 28,500 — a 20.2% year-over-year increase — with an average price of $1,259,000. BC-wide, 78,690 sales projected (+12%). Key tailwinds: BoC rate at 2.25%, improving affordability, pent-up demand. Headwinds: US tariff uncertainty, immigration policy changes, elevated inventory in the detached segment. Net verdict: cautious recovery, not a boom.
Key Economic Context
BoC overnight rate: 2.25% · 5-yr fixed: ~4.5% · BC GDP growth: 1–1.5% · BC unemployment: 6.5% · Housing starts forecast: 38,000 units. Bryan Yu (Central 1 Chief Economist) notes sales remain at early-2000s levels — excess inventory is still “spooking” some buyers, but structural undersupply hasn’t gone away.
Key Risk Factors
US tariff uncertainty remains the single biggest macro wildcard — BC’s export economy is exposed. Federal immigration policy changes could dampen long-term demand expectations. Locally, watch whether the detached S/A ratio can sustainably breach 12% — until it does, luxury and detached segments remain vulnerable to further price softening.
Professional Development
Realtor Best Practices — Right Now
Run Your “Can’t Sell? Let’s Talk Strategy” Campaign Now
February’s data is your conversation starter. Call your database of stale or expired listings. The S/A crossover above 12% gives you an honest, positive story — and sellers who were sitting on the fence need a nudge. Spring is coming and inventory is tightening.
Position Townhouses as Your Primary Listing Target
16.6% S/A ratio. The only segment with YoY sales gains (+7.8%). If you have townhouse sellers in your pipeline, bring them to market in March — you’re entering the best conditions for their product type. Price to the $1,046,100 composite benchmark and expect competitive offers.
🗓
Time Your Listings for the Spring Window
GVR data shows new listings are down 6.4% year-over-year, which means less competition for listings that come to market now. Get your pre-listing prep, photography and marketing ready. First two weeks of April is the sweet spot for maximum buyer pool with minimal competition.
Use the S/A Ratio in Every Client Conversation
Most consumers don’t know what a sales-to-active ratio is. Explain it simply: “When this number is below 12%, buyers have the power. When it’s above 20%, sellers do. Right now we’re at 12.6% — the market just came off the floor and is starting to stabilize.” That framing positions you as a market expert and builds trust.
Sharpen Your Rental Strategy Pitch
With detached home sellers still in challenging territory, your “Can’t Sell? Let’s Discuss Your Rental Strategy” proposition has never been more relevant. 13,545 active listings means frustrated sellers. Be the agent who presents a credible Plan B with real numbers — vacancy rates, cap rates, cash flow projections.
Watch the Macro — Tariff Updates Can Move This Market Fast
US trade policy is the variable no one can fully price in. If tariff escalation hits BC’s economy hard, expect buyer sentiment to soften quickly. Stay close to economic news, subscribe to BCREA’s monthly forecast, and have a contingency narrative ready for nervous clients.
Rental Strategy Specialist
Can’t Sell? Let’s Discuss Your Rental Strategy.
Not every market condition calls for a sale. Sometimes the smartest move is a well-managed hold strategy. Let’s run the numbers together and explore all your options.
Century 21 In Town Realty
Douglas Foulds
REALTOR® & Property Manager
Data Source: Greater Vancouver REALTORS® MLS® HPI Statistics Package, February 2026 & BCREA Q1 2026 Housing Forecast.
This analysis is for professional use by licensed REALTORS®. Always verify specific data points with official GVR sources.
MLS® and Multiple Listing Service® are registered trademarks of The Canadian Real Estate Association.
This analysis is for professional use by licensed REALTORS®. Always verify specific data points with official GVR sources.
MLS® and Multiple Listing Service® are registered trademarks of The Canadian Real Estate Association.
Doug Foulds – Managing Broker
