January home sales on the MLS in Metro Vancouver were 29 per cent lower than last year, setting the year off to a quiet start.
The Greater Vancouver Realtors (GVR) report residential sales in the region totalled 1,107 in January 2026, down from the 1,552 sales recorded in January 2025. It was also 31 per cent below the 10-year seasonal average of 1,602 sales.
“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years. 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,” said Andrew Lis, GVR’s chief economist.
“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.”
In Maple Ridge-Pitt Meadows, sales of all property types last month were down compared to January 2025 – from 52 houses to 38, from 35 townhouses to 22, and from 21 apartments to 19.
The median selling price dropped from $1.26 million for house sales in January 2025, to $1.05 million last month, while townhouses sale prices dropped $100,000 to $730,000 for the month.
There is a lot of choice for buyers.
The total number of properties currently listed for sale on the MLS system in Metro Vancouver is 12,628, which is a 9.9 per cent increase compared to January 2025 (11,494). This is 38 per cent above the 10-year seasonal average (9,153).
“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid. 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,” Lis said.
“As consumers adjust to the ongoing backdrop of political and economic uncertainty, we expect a degree of pent-up demand to re-enter the market at some point. Whether it will happen in 2026 remains an open question, and we’ll be watching the market closely for signs of improvement.”