Metro Vancouver home sales registered on the MLS® in February continued the recent trend of slower-than-average sales, seeing a 10% decline over the same period last year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,648 in February 2026, a 9.8% decrease from the 1,827 sales recorded in February 2025. This was 28.7% below the 10-year seasonal average (2,310).

“With each passing data point, the pace of sales running well-below long-term averages are no longer a surprise – it’s become the new norm,” said Andrew Lis, GVR chief economist and vice-president data analytics. “A surprising finding this February, however, is that home sellers appear less eager to list their homes relative to last year with new listings down about seven percent, mostly driven by fewer listings in the apartment segment.”

There were 4,734 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2026. This represents a 6.4% decrease compared to the 5,057 properties listed in February 2025. This was 7.1% above the 10-year seasonal average (4,421).

 The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,545, a 6.3% increase compared to February 2025 (12,744). This is 37% above the 10-year seasonal average (9,886).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2026 is 12.6%. By property type:

• Detached homes: 9%

• Attached homes (townhomes): 16.6%

• Apartments: 14.1%

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.  

“With fewer sellers coming to market with their properties than last year, a pick-up in demand heading into the spring could result in a stagnation of standing inventory, which may support prices around current levels,” Lis said. “With sales slightly outpacing our 2026 forecast year-to-date, the spring market will be the litmus test of whether we continue along this new normal, or if we see any significant surprises.”

Home Prices and Sales Snapshot – February 2026

• Composite Benchmark Price (All Residential): $1,100,300

  • ↓ 6.8% from February 2025

  • ↓ 0.1% from January 2026

• Detached Homes:

  • Sales: 427 (↓ 10.5% Year over Year)

  • Benchmark Price: $1,835,900 (↓ 8.8% Year over Year | ↓ 0.8% Month over Month)

• Apartments:

  • Sales: 824 (↓ 34.5% Year over Year)

  • Benchmark Price: $708,200 (↓ 6.8% Year over Year | ↓ 0.5% Month over Month)

• Attached Homes (Townhomes):

  • Sales: 387 (↓ 23.4% Year over Year)

  • Benchmark Price: $1,046,100 (↓ 5.6% Year over Year | ↓ 0.3% Month over Month)

Click here for the GVR February 2026 MLS Housing Market Report