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 % in May, apartment sales were down about seven % year-over-year, which weighed down the overall sales total. 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.” Andrew Lis, GVR chief economist and vice-president data analytics

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:

• Detached homes: 10.7%

• Attached homes (townhomes): 15.4%

• Apartments: 14.2%

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.” 

Home Prices and Sales Snapshot – May 2026

• Composite Benchmark Price (All Residential): $1,100,700

  • ↓ 6.2% from May 2025

  • ↑ 0.2% from April 2026

• Detached Homes:

  • Sales: 660 (↑ 0.9% Year over Year)

  • Benchmark Price: $1,847,900 (↓ 6.9% Year over Year | ↑ 0.4% Month over Month)

• Apartments:

  • Sales: 1,009 (↓ 7.2% Year over Year)

  • Benchmark Price: $697,800 (↓ 7.9% Year over Year | ↓ 0.7% Month over Month)

• Attached Homes (Townhomes):

  • Sales: 463 (↓ 1.3% Year over Year)

  • Benchmark Price: $1,048,200 (↓ 5.1% Year over Year | ↑ 0.5% Month over Month)

Click here for the GVR May 2026 MLS Housing Market Report