Vancouver-area home sales drop almost 5% in August amid lag: board
Greater Vancouver Realtors says there were 1,869 home sales last month, which was 20.7 per cent below the 10-year seasonal average.
In August, home sales in the Vancouver area experienced a significant 4.6% decline compared to the previous year, a trend that began as early as May and is projected to continue through 2026. The Greater Vancouver Realtors reported a total of 1,869 property sales, marking a 20.7% drop from the 10-year seasonal average. Andrew Lis, the board's chief economist and vice-president of data analytics, attributed the downward price trend across all market segments to a decline in inventory levels from their 2025 peak.
With slower-than-anticipated sales, prices have been "drifting downwards". The composite benchmark price for all residential properties in Vancouver fell to $1,081,900, a 5.6% decrease from August 2025 and a slight 0.6% reduction from July 2026. Last month, there were 4,100 new listings, a 3% decrease year-over-year and a 1.3% dip from the 10-year average.
Inventory levels also took a hit, declining by 2.7% annually to 15,798, which was 26.2% higher than the long-term average.
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- Vancouver-area home sales drop almost 5% in August amid lag: board globalnews.ca
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