Home sales registered on the MLS in Metro Vancouver were down nearly four per cent in May compared to last year, and the Maple Ridge-Pitt Meadows real estae market is also slow.
So far this year, From January through May 2026, sales of all property types are down compared to the same period last year. House sales have dropped from 326 to 307, townhouses from 205 to 185, and apartments from 163 to 143, according to stats from the Greater Vancouver Realtors.
The group reports that residential sales across the region totalled 2,150 in May 2026, a 3.5 per cent decrease from the 2,228 sales recorded in May 2025 – and 27 per cent below the 10-year seasonal average (2,930).
“While attached sales held relatively steady and detached sales edged up roughly one per cent in May, apartment sales were down about seven per cent year-over-year, which weighed down the overall sales total,” said Andrew Lis, GVR chief economist and vice-president data analytics.
The first five months of the year also showed price drops in Ridge Meadows compared with last year. The median house sale dropped $100,000 to $1.19 million. Townhouses dropped from $815,000 to $740,000, and apartments went from $533,000 to $490,000.
The number of properties listed for sale on the MLS system in Metro Vancouver is 16,917 – which is 35 per cent above the 10-year seasonal average (12,567).
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,1 million. This represents a 6.2 per cent decrease over May 2025.