Vancouver Sales Finally Edge Up—But Sellers Are Still Pricing for January’s Market

Royal LePage's second-quarter 2026 market update, released this week, shows Greater Vancouver's aggregate home price fell 4.5% year-over-year to $1.164 million, with detached homes down 5.2% to $1.65 million and condos dropping 5.1% to $721,000. The City of Vancouver saw steeper declines, with the aggregate price falling 5% to $1.34 million and condos plunging 7.9% to $748,000. Despite these drops, Randy Ryalls, managing broker at Royal LePage Sterling Realty, notes that transaction volumes picked up in late June, with sales temporarily overtaking new listings—a shift from the persistent inventory accumulation that has characterized recent months.

The market has been grappling with approximately 17,000 active listings, significantly above the 14,000 to 15,000 range historically considered balanced. This oversupply has created a bifurcated environment where compelling, aggressively priced properties are drawing competitive offers, while overpriced listings languish. Ryalls emphasizes that buyers are well-educated and selective—only acting when they perceive genuine value. The data suggests a potential rebalancing, with Royal LePage forecasting a moderated 3.5% year-over-year decline by Q4 2026, indicating the rate of price drops may be slowing even as values continue to trend downward.