Vancouver Home Sales Drop Nearly 5% in August

The Greater Vancouver real estate market experienced a continued slowdown last month, with home sales falling 4.6 per cent compared to the same period last year.

According to the latest data from Greater Vancouver Realtors, a total of 1,869 residential properties were sold across the region in August, marking a significant 20.7 per cent drop below the 10 year seasonal average. Real estate experts note that this sluggish momentum, which first began in May, is expected to persist through the remainder of 2026 as buyers continue to exercise caution amid changing economic conditions.

This combination of slower buyer activity and shifting inventory levels has placed downward pressure on property values across all housing categories. Andrew Lis, chief economist and vice-president of data analytics at Greater Vancouver Realtors, highlighted that although inventory levels have eased from their peak highs in 2025, the subdued demand has caused prices to drift lower across every market segment.

The composite benchmark price for all residential properties in Metro Vancouver slipped to $1,081,900 last month—a 5.6 per cent decline year-over-year from August 2025 and a minor 0.6 per cent dip from July 2026.

Supply trends also reflected a cooling marketplace, as 4,100 new properties were listed for sale last month. This represents a three per cent decrease compared to last August and sits 1.3 per cent below the 10-year seasonal average for new listings.

Total active inventory settled at 15,798 units down 2.7 per cent annually, yet remaining 26.2 per cent higher than the long-term historical average. With overall supply remaining well above historical norms and demand lagging behind, prospective buyers in the Lower Mainland continue to navigate a market offering increased selection and negotiating power.