Hi everyone, it's Maria with your Metro Vancouver Market Watch for May 2026.
The biggest story this month is that apartment sales slowed down, while detached homes and townhomes remained relatively steady.
Overall, there were 2,150 homes sold across Metro Vancouver in May, which is about 3.5% lower than the same time last year. While detached home sales actually increased slightly, apartment sales were down about 7%, which brought the overall numbers down.
On the inventory side, we continue to see plenty of choice for buyers. There are currently almost 17,000 homes for sale across Metro Vancouver, which is about 35% higher than the 10-year average. New listings were slightly lower than last year, but overall inventory remains healthy.
What does that mean for buyers and sellers?
For buyers, there are still lots of opportunities and more negotiating power than we've seen in recent years.
For sellers, pricing correctly remains critical. Homes that are well-priced and well-marketed are still attracting attention, but buyers have options and are taking their time.
As for prices, they've remained relatively stable month over month. The benchmark price for all residential properties in Metro Vancouver is now approximately $1.1 million, which is down 6.2% from a year ago but virtually unchanged from April.
Breaking it down by property type:
• Detached homes averaged a benchmark price of $1.85 million, down 6.9% from last year.
• Apartments averaged $698,000, down 7.9% from last year.
• Townhomes averaged just over $1.048 million, down 5.1% from last year.
Looking ahead, economists expect a relatively balanced and predictable summer market. Inventory remains strong, demand is steady, and there are no major factors expected to dramatically shift the market in either direction.
If you're thinking about buying, selling, investing, or exploring multiplex opportunities, I'd be happy to discuss your options and what these market conditions mean for you personally.
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