Home sales in Metro Vancouver opened the year on a quiet note, extending the sluggish pace that shaped much of 2025, according to the Greater Vancouver Realtors (GVR).

Residential sales totalled 1,107 in January 2026, down 28.7% from a year earlier and nearly 31% below the 10-year seasonal average.

The January sales appear alarming, but it’s important to put these figures in the context of the past few years, said GVR chief economist Andrew Lis.

“Last year ended with one of the lowest sales totals in over two decades, and so it’s not surprising that the January sales figures were fourth slowest in over two decades as well,” he said. “Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal.”

Listings Keep Piling Up

New listings dipped 7.3% from last January to 5,157, but remained elevated compared with historical norms.

At the same time, the number of homes available for sale climbed to 12,628, up nearly 10% from a year ago and well above the long-term seasonal average.

The sales-to-active listings ratio sat at 9.1% across the region, with detached homes at 6.7%, attached homes at 11.1% and apartments at 10.3%.

Prices, Sales Mix and Outlook

The benchmark price for all residential properties was $1.1 million, down 5.7% from January 2025 and 1.2% from December.

Apartment sales fell 34.5% year over year, while detached and attached home sales declined 21.1% and 23.4%, respectively.

GVR says elevated inventory, softer sales activity and ongoing economic and political uncertainty are expected to keep prices relatively stable as buyers and sellers adjust to slower market conditions.

“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid,” said Lis. “When paired with sellers remaining eager to list, inventory will likely remain elevated relative to historical averages and, as a result, we expect prices to finish the year relatively unchanged.”

January Home Sales Slide Nearly 29% in Metro Vancouver by REM Real Estate Magazine