METRO VANCOUVER
Favourable market conditions for buyers at outset of 2026
The residential market in Metro Vancouver closed December with its fifth consecutive month of declining sales – a drop of 16.4% from the preceding month – for a total of 1,537 homes sold in the last month of the year. Despite the lengthy downward trend in the last half of year, the sales for the period totalled only 2% below the first six months, making 2025 a challenging year overall. It was in fact the slowest home sales year in more than two decades, and 25% below the 10-year seasonal average. On recent annual comparisons, last year’s total of 23,800 home sales was 10.4% down from 2024, and 9.3% down from 2023. It was in new listings, however, that the month-over-month market decline was most prominent. December’s news listings dropped a dramatically from the previous month, registering a 50% decline for a total of 1,849 newly listed homes across all property types. Total inventory for Metro Vancouver at the end of December still remained high at 12,550. This was 17% lower than the preceding month but nonetheless 10.3% higher than the same period one year ago, and 10.3% above than the 10-year season average. If December’s new listings decline was noticeable by its size, it was not completely unexpected, following a 30% drop in the preceding month. The year on the whole was one marked by a much greater desire to sell than to buy, a market dynamic that has remained persistent in a climate of general economic uncertainty. Yet, the current market conditions represent an excellent time to buy. Mortgage interest rates have dropped along with home prices. The Bank of Canada’s policy rate of 2.25% has remained steady since December 10 with the next central bank rate announcement is scheduled for January 28. Canada’s Consumer Price Index inflation rate has been close to the target of 2% for several months, and there appears to be little reason for a further rate at this time. As well, home prices have eased considerably. At the end of December, the composite benchmark price for residential property in Metro Vancouver was $1,114,800, a 0.8% decline from the preceding month, and 4.5% lower than one year ago.
Below is my monthly guide to benchmarks prices around Metro Vancouver. I have selected the overall average price from the different municipal areas as the benchmark for comparing comparable homes in six different areas for each property type. The six selections consist of three home closest to the benchmark on the higher side of the average, and three on the lower side. The monthly price changes shown are typical fluctuations arising from recent sales in a particular area. Remember that average prices may conceal specific prices that are attractive to your budget, so please call me if your interested in exploring what is available in a particular area. I can provide you with the most up-to-date information on the latest listings. And if you are interested in selling your home, I can advise you on the optimal listing price in the current market conditions.
Detached homes
The benchmark price for a single-family detached home in Metro Vancouver at the end of December was $1,879,800, a decrease of 1.1% from the preceding month. The range of this average extended from $3,137,400 in Vancouver West to $841,000 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,930,400, a decrease of 0.5% from the preceding month; Port Moody at $2.001,800, a decrease of 4.2% from the preceding month; and Richmond at $2,036,800, a decrease of 0.5% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,718,800, a decrease of 1.1% from the preceding month; Coquitlam at $1,670,400, a decrease 1.5% from the preceding month (Squamish is omitted here because it is too far out for my clients); and Tsawwassen at $1,478,600, an increase of 1.7% from the preceding month.
Townhouses
The benchmark price for a townhouse in Metro Vancouver at the end of December was $1,056,600, a decrease of 0.9% from the preceding month. The range of this average extended from $1,695,100 in Whistler to $774,200 in Pitt Meadows. The three municipalities closest to the benchmark on the higher side of the average were: Richmond at $1,057,400, a decrease of 1.9% from the preceding month; North Vancouver at 1,257,600, a decrease of 2.6% from the preceding month; and Vancouver West at $1,413,200, an increase of 3.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,035,100, an increase of 3.4% from the preceding month (Squamish is omitted here because it is too far out for my clients); Coquitlam at $994,300, a decrease of 2.8% from the preceding month; and Burnaby South at $987,300, an increase of 0.4% from the preceding month.
Condominiums
The benchmark price for a condominium in Metro Vancouver at the end of December was $710,000, a decrease of 0.6% from the preceding month. The range of this average extended from $1,077,300 in West Vancouver to $473,100 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody at $710,000, an increase of 0.8% from the preceding month; Burnaby East at $750,100, a decrease of 1.2% from the preceding month; and Burnaby South West at $765,900, an increase of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Coquitlam at $681,100, a decrease of 0.7% from the preceding month; Richmond at $676,400, a decrease 1.6% from preceding month; and Ladner at $660,000, a decrease of 0.8% from the preceding month.
Let me help
There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.