Home sales registered on the MLS® in Metro Vancouver* declined nearly ten per cent last month relative to July last year, erasing the ten per cent gain seen in June that kicked off the summer.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,061 in July 2026, a 9.8 per cent decrease from the 2,286 sales recorded in July 2025. This was 18.6 per cent below the 10-year seasonal average (2,532).

“Last month, we reported gains in home sales across all home types, raising the question of whether demand would continue to build into the summer. Instead, July sales were down nearly ten per cent, led by an 18 per cent drop in apartment sales, confirming to market watchers that the June momentum was not sustained,” said Andrew Lis, GVR chief economist and vice-president data analytics. “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.”

There were 4,991 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2026. This represents a 11.5 per cent decrease compared to the 5,642 properties listed in July 2025. This figure matches the 10-year seasonal average (4,992).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,476, a 4 per cent decrease compared to July 2025 (17,168). This is 26.8 per cent above the 10-year seasonal average (12,992).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2026 is 13 per cent. By property type, the ratio is 10.5 per cent for detached homes, 15.8 per cent for attached, and 14 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Sales weren’t the only metric taking a step back in July, however. New listings were also down 11 percent in July, largely due to a nearly 17 per cent drop in apartment listings,” said Lis. “We’ve been pointing to the slowdown in sellers coming to market for several months, and it’s beginning to translate into a gradual decline in the overall inventory level. This shift remains in early days, and with sales in a holding pattern, price pressures of significance in either direction aren’t showing up in the data quite yet, with prices down roughly one per cent in July.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,088,800. This represents a 6.2 per cent decrease over July 2025 and a 0.9 per cent decrease compared to June 2026.

Sales of detached homes in July 2026 reached 639, a 3.2 per cent decrease from the 660 detached sales recorded in July 2025. The benchmark price for a detached home is $1,822,900. This represents a 7 per cent decrease from July 2025 and a 1.1 per cent decrease compared to June 2026.

Sales of apartment homes reached 952 in July 2026, a 17.8 per cent decrease compared to the 1,158 sales in July 2025. The benchmark price of an apartment home is $688,000. This represents a 7.5 per cent decrease from July 2025 and a one per cent decrease compared to June 2026.

Attached home sales in July 2026 totalled 454, a 1.1 per cent decrease compared to the 459 sales in July 2025. The benchmark price of a townhouse is $1,030,400. This represents a 6 per cent decrease from July 2025 and a 1.5 per cent decrease compared to June 2026.