This page has been updated with data released August 4, 2026 for the July 2026 period (source: Greater Vancouver REALTORS®, GVR).
Vancouver market stats
These are the market highlights for Metro Vancouver’s real estate market for July 2026.
| Property Type | Sales | Y/Y Change (Sales) | Benchmark Price | Y/Y Change (Benchmark) | M/M Change (Benchmark) |
|---|---|---|---|---|---|
| All Types | 2,061 | -9.8% | $1,088,800 | -6.2% | -0.9% |
| Detached | 639 | -3.2% | $1,822,900 | -7.0% | -1.1% |
| Townhouse (Attached) | 454 | -1.1% | $1,030,400 | -6.0% | -1.5% |
| Apartment | 952 | -17.8% | $688,000 | -7.5% | -1.0% |
The overall residential composite benchmark home price in Metro Vancouver was $1,088,800 for July 2026, a 6.2% year-over-year decrease from July 2025 and a 0.9% decrease compared to June 2026.
Key Takeaways:
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Buyer’s Market Conditions: With a sales-to-active listings ratio of 13%, Metro Vancouver remains in buyer’s territory (10.5% for detached, 15.8% for attached, 14% for apartments). Active listings of 16,476 are down 4% from a year ago but 26.8% above the 10-year seasonal average.
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Sales Momentum Reversed: Total sales of 2,061 fell 9.8% year-over-year, erasing the roughly 10% gain seen in June. Sales were 18.6% below the 10-year seasonal average (2,532), led by an 18% drop in apartment sales.
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New Listings Declined: New listings of 4,991 decreased 11.5% year-over-year, largely due to a nearly 17% drop in apartment listings, though the figure matches the 10-year seasonal average (4,992).
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Prices Edging Lower: All three property types posted small month-over-month benchmark declines (-1.0% to -1.5%), with the composite down 0.9% from June — GVR notes “price pressures of significance in either direction aren’t showing up in the data quite yet.”
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Apartments Softest Segment: Apartment sales fell 17.8% year-over-year to 952, the steepest decline of any property type, while detached (-3.2%) and attached (-1.1%) sales held up comparatively well.
Home price across the Greater Vancouver Area (GVA)
This table shows the benchmark home price in the Greater Vancouver Area (GVA) for Detached, Townhouse, Apartments and Composite (total across all home types) by each area in Vancouver for July 2026.
| Area | Composite | Detached | Townhouse | Apartment |
|---|---|---|---|---|
| Greater Vancouver | $1,088,800 | $1,822,900 | $1,030,400 | $688,000 |
| Vancouver West | $1,226,300 | $3,011,300 | $1,321,100 | $768,700 |
| Vancouver East | $1,122,400 | $1,642,100 | $1,009,100 | $628,600 |
| Richmond | $1,026,200 | $1,911,700 | $1,035,200 | $639,700 |
| Coquitlam | $987,600 | $1,627,600 | $990,900 | $651,400 |
| North Vancouver | $1,307,500 | $2,078,200 | $1,237,300 | $785,700 |
| West Vancouver | $2,293,500 | $2,897,500 | — | $1,104,000 |
Source: Greater Vancouver REALTORS® MLS® Home Price Index, July 2026.
How much income would it take to afford a home in Vancouver?
What if you wanted to purchase the typical/benchmark home in Vancouver? This table shows the income needed to afford a home based on the composite benchmark home price in Vancouver for July 2026:
| Home Type | Home Price | Income Required |
|---|---|---|
| Composite | $1,088,800 | $228,664 |
| Detached | $1,822,900 | $370,092 |
| Townhouse | $1,030,400 | $217,413 |
| Apartment | $688,000 | $151,447 |
All of these figures are well above the average household income in Vancouver of $155,700, highlighting the city’s extreme affordability challenge.
For the calculation of income to afford a home in Vancouver we used the following as inputs:
- Down payment of 20% to avoid mortgage default insurance
- Mortgage rate of 4.04%
- Amortization period of 25 years
- Gross debt service (GDS) ratio of 32%
- Property tax of $354 per month ($4250 per year)
- Heating costs of $150 per month ($1800 per year)
Key trends in the Vancouver housing market
Foreign buyer tax and speculation taxes
British Columbia has implemented some of Canada’s most aggressive measures to cool housing demand:
- Foreign Buyer Tax (20%) — Known as the Additional Property Transfer Tax, this applies to foreign nationals and foreign-controlled corporations purchasing residential property in specified areas including Metro Vancouver. At 20%, it adds a substantial cost to foreign purchases.
- Speculation and Vacancy Tax — The provincial speculation and vacancy tax targets property owners who do not pay income tax in BC. Rates range from 0.5% to 2% of the property’s assessed value depending on the owner’s tax status and residency.
- Empty Homes Tax (Vancouver) — The City of Vancouver charges an additional annual tax on properties declared empty. The current rate is 5% of the assessed value, one of the highest vacancy taxes in North America.
These policies have been credited with reducing foreign investment in the market, though their overall impact on affordability remains debated.
Zoning reform
Recent provincial legislation has mandated zoning changes across BC municipalities, allowing up to four units on previously single-family lots in cities with populations over 5,000 and up to six units near transit stations. These reforms aim to increase housing density and supply over the coming decade.
Market outlook
Vancouver’s market remains in a buyer’s market, with a sales-to-active listings ratio of 13% in July 2026. Benchmark prices are now down 6.2% year-over-year. After posting a roughly 10% sales gain in June, July sales fell back 9.8% year-over-year — GVR chief economist Andrew Lis noted the “one step forward, one step back” pattern has repeated for several years running. Total sales sat 18.6% below the 10-year seasonal average. Declining new listings (-11.5% YoY) are gradually pulling down overall inventory, though active listings remain 26.8% above the 10-year seasonal average, keeping the market firmly buyer-favourable.
Notable areas in Metro Vancouver
Metro Vancouver encompasses a wide range of communities with varying price levels:
- Vancouver West — The most expensive area in the region, with detached homes averaging over $3.3 million. Includes neighbourhoods like Kitsilano, Point Grey, Kerrisdale, and Dunbar.
- Vancouver East — More affordable than the west side but still expensive by national standards. Detached homes average around $1.8 million. Includes Commercial Drive, East Van, and Mount Pleasant.
- Burnaby — A popular middle ground with good transit access (SkyTrain). Three sub-areas (North, South, East) with apartment prices ranging from $718,000 to $809,000.
- Surrey — The fastest-growing city in Metro Vancouver and among the more affordable options. Detached homes are significantly less than Vancouver proper.
- Richmond — Known for a large Asian-Canadian community and strong amenities. Detached homes average around $2.1 million.
- North Vancouver — Premium pricing for mountain and waterfront proximity. Detached homes average $2.2 million.
- Langley and Maple Ridge — Outer suburban communities offering more affordable detached homes under $1.3 million, popular with families.
BC Property Transfer Tax
British Columbia’s property transfer tax is a significant closing cost for buyers. The tax is calculated on a tiered structure based on the property’s fair market value:
| Fair Market Value | Rate |
|---|---|
| First $200,000 | 1% |
| $200,001 to $2,000,000 | 2% |
| $2,000,001 to $3,000,000 | 3% |
| Over $3,000,000 | 5% |
On a home purchased at Vancouver’s composite benchmark price of $1,088,800, the property transfer tax would be approximately $19,776.
First-time buyer exemptions in BC
BC offers significant property transfer tax relief for first-time buyers:
- Full exemption on properties valued up to $500,000
- Partial exemption on properties valued between $500,000 and $525,000
- Newly built home exemption — Full exemption up to $750,000; partial exemption between $750,000 and $800,000
Given Metro Vancouver’s high prices, many first-time buyers will not qualify for the full exemption unless purchasing a condo or a home in a more affordable sub-market. Our land transfer tax calculator can help you estimate the property transfer tax for your specific purchase price.
Related Vancouver housing calculators
If you are buying a home in Metro Vancouver, these tools can help you plan:
- Mortgage Calculator — Estimate your monthly mortgage payments
- Mortgage Affordability Calculator — Determine how much home you can afford
- Income to Afford Home Calculator — Find the salary needed at Vancouver price levels
- Mortgage Insurance Calculator — CMHC premium estimates for down payments under 20%
- Land Transfer Tax Calculator — Calculate BC property transfer tax
- Closing Costs Calculator — Estimate total costs beyond the purchase price
- Mortgage Stress Test Calculator — Verify qualification under the stress test
- Mortgage Rates — Current mortgage rates in British Columbia
More housing market reports
- British Columbia Housing Market — Provincial overview including all BC regions
- Victoria Housing Market — Vancouver Island’s capital, 27–34% lower prices
- Calgary Housing Market — Popular relocation destination with lower prices
- Toronto Housing Market — Canada’s other major market for comparison
- Canada Housing Market Overview — National trends, prices, and provincial comparisons
- First-Time Home Buyer Guide — Programs, incentives, and step-by-step buying process
Data Sources
The housing market data in this report is sourced from: