Metro Vancouver, Fraser Valley housing markets favour buyers heading into fall

Metro Vancouver’s housing market is heading into the fall with sales still sluggish, prices trending lower and buyers gaining more choice as inventory remains elevated.

The Greater Vancouver Realtors recorded 1,869 residential sales in August, down 4.6 per cent from August 2025 and 20.7 per cent below the region’s 10-year seasonal average.

The results capped a summer that underperformed last year, with sales lagging the Greater Vancouver Realtors’ expectations since May.

Inventory stays elevated

There were 15,798 properties listed for sale in Metro Vancouver at the end of August, down 2.7 per cent from a year earlier, but 26.2 per cent above the 10-year seasonal average.

New listings were also lower than last year, with 4,100 properties coming onto the market in August, a three per cent decline from August 2025 and 1.3 per cent below the 10-year average.

The combination of slower sales and above-average inventory is giving buyers more time to weigh their options.

Prices continue to soften

Metro Vancouver’s composite benchmark price was $1,081,900 in August, down 5.6 per cent from a year earlier and 0.6 per cent from July.

Greater Vancouver Realtors chief economist Andrew Lis said the latest figures support the organization’s recent downward revision to its 2026 forecast.

“Sales have lagged our January forecast,” Lis said.

Lis pointed to slower immigration, reduced investor demand and mortgage rates that remain too high to encourage stronger buying activity.

Fraser Valley sees a similar trend

The cooling trend continues east into the Fraser Valley, where August sales fell sharply from July despite posting a small year-over-year gain.

The Fraser Valley Real Estate Board recorded 941 sales in August, down 14 per cent from July but one per cent higher than August 2025.

It was only the second annual increase in monthly sales in the region since the beginning of 2025.

Buyers have more leverage

The Fraser Valley had 9,787 active listings at the end of August, down three per cent from July but still 33 per cent above the 10-year seasonal average.

The region remains firmly in a buyer’s market, with a sales-to-active-listings ratio of 10 per cent. A balanced market is typically defined by a ratio between 12 and 20 per cent.

New listings also fell, with 2,373 properties coming onto the market in August — down 16 per cent from July and 15 per cent from August 2025.

“We’re seeing a bit of a tug-of-war between buyers and sellers,” Fraser Valley Real Estate Board (FVREB) chair Ishaq Ismail said.

Prices remain under pressure

The Fraser Valley’s composite benchmark price fell 0.9 per cent in August to $869,900, down seven per cent from a year earlier.

Detached homes were down 8.4 per cent year over year to $1,319,600, while townhomes fell 7.1 per cent to $750,600. Apartment prices declined 8.9 per cent to $466,100.

Homes are also taking time to sell. Detached homes and condos averaged 45 days on the market in August, while townhomes averaged 37 days.

With sales remaining below historical norms in Metro Vancouver and the Fraser Valley firmly in buyer’s-market territory, the late-summer data point to a fall market where buyers have more choice and sellers may need to adjust their expectations.

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