Real Estate Market Report for Vancouver, May 2026

Key Market Metrics and Housing Trends

Metro Vancouver's housing market in May 2026 recorded 2,150 residential sales with a composite benchmark price of $1,100,700, down 6.2 per cent year-over-year. The market showed flat month-over-month pricing across all property types while inventory levels remained elevated above historical averages.

Sales Activity and Inventory Changes

The Greater Vancouver REALTORS (GVR) reported that residential sales in May 2026 totalled 2,150 transactions, representing a 3.5 per cent decrease from the 2,228 sales recorded in May 2025. This figure came in 26.6 per cent below the 10-year seasonal average of 2,930 sales.

Apartment sales drove the overall decline, falling 7.2 per cent year-over-year to 1,009 transactions. However, the weakness in apartment sales wasn't uniform across all areas, as some larger regions including North and East Vancouver saw increases relative to last year.

Detached home sales reached 660 in May 2026, posting a modest 0.9 per cent increase from May 2025. Attached home sales totalled 463, down slightly by 1.3 per cent compared to the previous year.

New listings on the MLS® system decreased 7.6 per cent to 6,115 properties in May 2026, down from 6,620 in May 2025. Despite this decline, new listings remained 1.3 per cent above the 10-year seasonal average of 6,036 properties.

Price Movements by Property Type

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver stood at $1,100,700 in May 2026. This marked a 6.2 per cent decrease compared to May 2025, though prices edged up 0.2 per cent from April 2026.

Property Type	Benchmark Price	Year-over-Year Change	Month-over-Month Change
Detached	$1,847,900	-6.9%	+0.4%
Apartment	$697,800	-7.9%	-0.7%
Townhouse	$1,048,200	-5.1%	+0.5%

Apartment homes experienced the steepest annual price decline at 7.9 per cent, with a benchmark of $697,800. This segment also posted the only month-over-month decrease, falling 0.7 per cent from April 2026.

Detached homes carried a benchmark price of $1,847,900, down 6.9 per cent year-over-year but up 0.4 per cent from the previous month. Townhouses were priced at $1,048,200, showing a 5.1 per cent annual decrease and a 0.5 per cent monthly increase.

Sales-to-Active Listings Ratio and Market Conditions

The sales-to-active listings ratio across all property types reached 13.1 per cent in May 2026. This metric indicates balanced market conditions, sitting between the 12 per cent threshold that typically signals downward price pressure and the 20 per cent level associated with upward price pressure.

By property type, detached homes posted a ratio of 10.7 per cent, while attached homes reached 15.4 per cent and apartments came in at 14.2 per cent. The detached segment's ratio fell below the 12 per cent threshold, suggesting modest downward pressure on prices.

Total active listings on the MLS® system numbered 16,917 properties in May 2026, representing a one per cent decrease from the 17,094 listings in May 2025. However, inventory remained 34.6 per cent above the 10-year seasonal average of 12,567 properties.

New Listings and Days on Market Overview

We observed 6,115 detached, attached, and apartment properties newly listed for sale in Metro Vancouver during May 2026. This represented a notable 7.6 per cent decline from the 6,620 new listings recorded in May 2025.

The elevated inventory levels combined with relatively muted demand allowed the market to absorb new listings efficiently. GVR chief economist Andrew Lis noted that "a healthy level of inventory easily absorbed the relatively muted level of overall demand in the market," resulting in flat month-over-month price trends.

The balance between supply and demand created stable conditions with no significant near-term catalysts expected to shift the market substantially in either direction through the summer months.

Segment Analysis and Local Insights

Breaking down May 2026's performance by property type reveals distinct patterns across Greater Vancouver's housing segments. Detached homes showed marginal growth while apartments faced headwinds, and attached properties maintained stability in a market characterized by elevated inventory levels.

Detached Home Performance

Detached home sales reached 660 units in May 2026, marking a 0.9 per cent increase from the 654 sales recorded in May 2025. This modest uptick contrasts with the broader market decline, signalling sustained interest in single-family properties despite economic headwinds.

The MLS® Home Price Index benchmark for detached homes stood at $1,847,900 in May 2026. This represents a 6.9 per cent decrease compared to May 2025, though we observed a 0.4 per cent month-over-month increase from April 2026. The sales-to-active listings ratio for detached properties registered at 10.7 per cent, sitting below the 12 per cent threshold that typically signals downward price pressure.

Greater Vancouver Realtors data indicates this segment maintained relative stability compared to other property types. The year-over-year price correction reflects broader market adjustments rather than segment-specific weakness.

Condo and Apartment Market Snapshot

The apartment segment experienced the most significant challenges in May 2026, with sales totalling 1,009 units. This represented a 7.2 per cent decrease from the 1,087 sales recorded in May 2025, making apartments the primary drag on overall market performance.

The benchmark price for apartment homes reached $697,800, down 7.9 per cent from May 2025. We noted a 0.7 per cent decline from April 2026, making apartments the only property type to experience month-over-month depreciation. The sales-to-active listings ratio stood at 14.2 per cent, indicating balanced market conditions.

Regional variation emerged within the apartment market. North and East Vancouver saw sales increases relative to last year, while other areas experienced softness. This disparity suggests location-specific factors continue to influence buyer decisions in the condo segment.

Attached Home Sales and Townhouse Trends

Attached home sales totalled 463 units in May 2026, representing a 1.3 per cent decrease from the 469 sales recorded in May 2025. This segment demonstrated the most stability among the three property types tracked by GVR.

The benchmark price for townhouses reached $1,048,200 in May 2026. We observed a 5.1 per cent year-over-year decline but a 0.5 per cent increase from April 2026, indicating month-over-month price stabilization. The sales-to-active listings ratio for attached properties registered at 15.4 per cent, the highest among all property types.

This ratio suggests attached homes maintained better balance between supply and demand compared to detached properties. The segment's resilience positions it as a middle-ground option for buyers navigating affordability constraints.

Investment Highlights and Market Outlook

The overall sales-to-active listings ratio of 13.1 per cent across all property types indicates a balanced market framework. Total active listings stood at 16,917 properties, down one per cent from May 2025 but 34.6 per cent above the 10-year seasonal average.

New listings totalled 6,115 properties in May 2026, down 7.6 per cent year-over-year but 1.3 per cent above the 10-year average. This inventory cushion absorbed demand without triggering significant price movements. The composite Vancouver real estate benchmark price of $1,100,700 remained essentially flat month-over-month with just a 0.2 per cent increase.

Key metrics for investors:

• Sales tracking closely with forecasts suggests predictable summer conditions
• No immediate catalysts identified for significant market shifts
• Balanced inventory levels support price stability across segments

Year-to-date sales performance has aligned with projections, supporting expectations for a calm and orderly summer market. The absence of near-term demand or supply shocks points to continued equilibrium in the coming months.