Vancouver’s housing market remains in a funk as potential buyers stay on the sidelines.
Greater Vancouver Realtors report that there were 1,648 homes sold in the city during February, down 9.8% from the same month in 2025 and 28.7% below the 10-year seasonal average.
The lack of sales has led to lower prices in the Greater Vancouver region, with the average price for all residential properties dropping 6.8% year-over-year in February to $1.1 million.
The depressed market has also led to sellers growing less willing to list their homes for sale than in 2025 or 2024.
There were 4,734 new listings on the Vancouver market in February of this year, down 6.4% from a year ago.
The condominium market in Vancouver has been particularly hard hit, with sales totaling 824 in February, a 15.6% decrease from February 2025.
The average price of a condo was $708,200, a 6.8% decline year-over-year, said the real estate board.
There were 427 sales of detached homes in February, a 10.5% decrease from a year ago, as the benchmark price for that segment was $1.84 million, an 8.8% year-over-year drop.
The total inventory of homes for sale across all housing types in Vancouver grew 6.3% year-over-year to 13,545 in February, which was 37% above the long-term average.
Housing across Canada has struggled as interest rates remain high by historic measures and the economy softens.
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