Last year’s market trends continued in January as home sales registered on the MLS® in Metro Vancouver were 28.5% lower than last year, setting the year off to a quieter start.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,107 in January 2026, a 28.7% decrease from the 1,552 sales recorded in January 2025. This was 30.9% below the 10-year seasonal average (1,602).

“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years. 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,” said Andrew Lis, GVR’s chief economist and vice-president, data analytics. “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.”

There were 5,157 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2026. This represents a 7.3% decrease compared to the 5,566 properties listed in January 2025. This was 19.4% above the 10-year seasonal average (4,318).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,628, a 9.9% increase compared to January 2025 (11,494). This is 38% above the 10-year seasonal average (9,153).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2026 is 9.1%. By property type, the ratio is 6.7% for detached homes, 11.1% for attached, and 10.3% for apartments.

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

“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid. 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,” Lis said. “As consumers adjust to the ongoing backdrop of political and economic uncertainty, we expect a degree of pent-up demand to re-enter the market at some point. Whether it will happen in 2026 remains an open question, and we’ll be watching the market closely for signs of improvement.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,101,900. This represents a 5.7% decrease over January 2025 and a 1.2% decrease compared to December 2025.

Sales of detached homes in January 2026 reached 300, a 21.1% decrease from the 380 detached sales recorded in January 2025. The benchmark price for a detached home is $1,850,800. This represents a 7.3% decrease from January 2025 and a 1.5% decrease compared to December 2025.

Sales of apartment homes reached 554 in January 2026, a 34.5% decrease compared to the 846 sales in January 2025. The benchmark price of an apartment home is $704,600. This represents a 5.9% decrease from January 2025 and a 0.8% decrease compared to December 2025.

Attached home sales in January 2026 totalled 246, a 23.4% decrease compared to the 321 sales in January 2025. The benchmark price of a townhouse is $1,043,400. This represents a 5.4% decrease from January 2025 and a 1.2% decrease compared to December 2025.

Click here to view GVR’s January 2026 Housing Market Report.

New Year, Same Housing Market in Metro Vancouver by GVR