January 2026 Metro Vancouver housing market sees slower sales, higher inventory, and modest price declines
The January 2026 Metro Vancouver housing market opened the year with slower sales, higher inventory, and modest price declines, according to the latest data released by Greater Vancouver REALTORS.
Residential sales across Metro Vancouver totalled 1,107 in January 2026, down 28.7% from January 2025 and nearly 31% below the 10-year seasonal average, pointing to a market that continues to adjust following several volatile years.
“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years,” said Andrew Lis, GVR’s chief economist and vice-president of data analytics. “Last year ended with one of the lowest sales totals in over two decades, and so it’s not surprising that the January sales figures were fourth slowest in over two decades as well.”
Lis added: “Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal.”
What’s Happening in the January 2026 Metro Vancouver Housing Market
While sales activity was subdued, new listings remained elevated. More than 5,100 properties were newly listed in January, leaving total active listings almost 10% higher than a year ago. The overall sales-to-active listings ratio sat at 9.1%, a level that historically places downward pressure on prices.
Benchmark prices across all residential property types declined:
- Composite benchmark price: $1,101,900, down 5.7% year-over-year
- Detached homes: $1,850,800, down 7.3%
- Townhomes: $1,043,400, down 5.4%
- Apartments: $704,600, down 5.9%
January 2026 Tri-Cities Real Estate Snapshot
In the Tri-Cities, pricing trends largely mirrored the broader market, with modest month-over-month declines:
- Coquitlam: benchmark $1,000,400, down 1.4% month-over-month and 6.3% year-over-year
- Port Coquitlam: benchmark $896,200, down 0.3% month-over-month and 4.9% year-over-year
- Port Moody: benchmark $1,040,900, down 0.8% month-over-month and 4.0% year-over-year
What This Means Going Forward
Taken together, January’s numbers point to a market that is quieter but stabilizing, said Lis, noting that inventory remains elevated, buyer activity is cautious, and price movement is gradual rather than dramatic.
“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid,” Lis said. “When paired with sellers remaining eager to list, inventory will likely remain elevated relative to historical averages and, as a result, we expect prices to finish the year relatively unchanged.”
For buyers and sellers alike, this places greater importance on careful planning, financing considerations, and understanding the legal and contractual aspects of a real estate transaction in a slower market.
Get In Touch Today
If you have questions about the January 2026 Metro Vancouver housing market, real estate transactions, or how current market conditions may affect your property, the real estate team at Clark Woods LLP is here to help. Contact us today.
