Led by slow sales in the apartment segment, home sales registered on the MLS® in Metro Vancouver were down nearly 4% in May compared to last year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,150 in May 2026, a 3.5% decrease from the 2,228 sales recorded in May 2025. This was 26.6% below the 10-year seasonal average (2,930).

“While attached sales held relatively steady and detached sales edged up roughly one per cent in May, apartment sales were down about 7% year-over-year, which weighed down the overall sales total,” said Andrew Lis, GVR chief economist and vice-president data analytics. “Even then, apartment sales were not down uniformly across all regions – some of the larger areas such as North and East Vancouver saw increases relative to last year.”

There were 6,115 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2026. This represents a 7.6% decrease compared to the 6,620 properties listed in May 2025. This was 1.3% above the 10-year seasonal average (6,036).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,917, a 1% decrease compared to May 2025 (17,094). This is 34.6% above the 10-year seasonal average (12,567).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2026 is 13.1%. By property type, the ratio is 10.7% for detached homes, 15.4% for attached, and 14.2% 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.

“Price trends across all housing types were flat month-over-month, as a healthy level of inventory easily absorbed the relatively muted level of overall demand in the market,” Lis said. “Year-to-date, sales have come in just shy of our forecast to this point in the year. With demand tracking our forecast so closely, it’s reasonable to expect a calm and orderly summer market, as no obvious near-term catalysts loom over the horizon to move the market significantly in either direction.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,100,700. This represents a 6.2% decrease over May 2025 and a 0.2% increase compared to April 2026.

Sales of detached homes in May 2026 reached 660, a 0.9% increase from the 654 detached sales recorded in May 2025. The benchmark price for a detached home is $1,847,900. This represents a 6.9% decrease from May 2025 and a 0.4% increase compared to April 2026.

Sales of apartment homes reached 1,009 in May 2026, a 7.2% decrease compared to the 1,087 sales in May 2025. The benchmark price of an apartment home is $697,800. This represents a 7.9% decrease from May 2025 and a 0.7% decrease compared to April 2026.

Attached home sales in May 2026 totalled 463, a 1.3% decrease compared to the 469 sales in May 2025. The benchmark price of a townhouse is $1,048,200. This represents a 5.1% decrease from May 2025 and a 0.5% increase compared to April 2026.

Click here to view GVR’s May 2026 MLS® Residential Market Report.

Apartment Sales Lag, Other Housing Segments Steady by GVR