Vancouver Real Estate Statistics (2026)

Vancouver has long been one of Canada’s most expensive housing markets and is consistently ranked among the least affordable cities in the world. The city’s strong population growth, limited amount of land, and high demand for homes have helped drive prices upward over the last two decades.

While Vancouver’s housing market has cooled down since the record highs of the pandemic, it remains the most expensive major real estate market in Canada. Understanding the latest real estate statistics for Vancouver can help buyers, sellers, homeowners, and investors understand the current market conditions better.

Key 2026 Vancouver Real Estate Statistics

•  In April 2026, the average home cost around $1.21 million in Greater Vancouver.
• In Metro Vancouver, the benchmark home price was $1.098 million in April 2026. 
• Benchmark prices in Vancouver were 6.9% lower compared to the year before. 
• Greater Vancouver recorded over 2,100 home sales in April 2026. 
• There were in excess of 16,000 active property listings in April 2026. 
• Detached home benchmark prices were down 8.3% and condominium prices 7.9% year-over-year. 
• condominium sales represented a significant share of homes sales in Vancouver in spring 2026. 
• The Metro Vancouver area had a population of around 3 million residents in the 2021 Census. 
• Vancouver remains the most expensive major housing market in Canada. 
• The homeownership rate in Vancouver was below the national average according to the 2021 Census.

Vancouver Housing Market Overview

Metro Vancouver is the third-largest metropolitan area in Canada and has one of the most active housing markets in the country. According to Statistics Canada, the area had a population of around 3 million residents in 2021, showing a 7.3% increase from the 2016 Census. This population growth is one of the main drivers for demand for homes throughout the region. 

During the pandemic years of 2020 and 2021, the housing market in Vancouver experienced exceptional growth when low interest rates and demand pushed home prices to record levels. Higher mortgage rates, introduced in 2022, slowed housing market activity and reduced sales volumes, leading to declining home prices for most property types. 

The composite benchmark home price reached an all-time high of around $1.25 million in Metro Vancouver in April 2022. This had fallen to approximately $1.098 million by April 2026, which represents around 12.4% decline from the peak. However, prices in Vancouver remain above pre-pandemic and historical levels. 

Home prices in Vancouver remain much higher than ten years ago. The composite benchmark price was $844,800 in April 2026 compared to $1,098,000 in April 2026. This represents a rise of around 30% in a decade. 

Vancouver House Prices

Vancouver has the highest home prices among major metropolitan areas in Canada. In April 2026, the average home in Vancouver sold for around $1,209,600, while the composite benchmark was $1,098,000. Year-over-year, the benchmark price in Vancouver declined by 6.9%. 

In spring 2026, the approximate average selling prices by property type were:

• Detached homes: $1,928,062
• Attached homes: $1,199,238
• Condominiums: $749,692

During the same period, the benchmark prices by property type were:

• Detached homes: $1,840,700
• Townhouses: $1,043,400
• Condominiums: $703,000

Detached homes are by far the most expensive housing option in Vancouver. The detached home benchmark price was more than 2.6 times higher than the benchmark price for a condominium. 

Compared to other major Canadian cities, Vancouver has the most expensive housing market in the country. Greater Vancouver had approximately 15% higher home prices than the Greater Toronto Area, and significantly higher than those in cities such as Calgary, Winnipeg, and Edmonton. 

Vancouver Real Estate Sales

Home sales activity was below normal levels in Greater Vancouver in spring 2026. 2,110 residential sales were recorded in April 2026, which was 2.5% lower than April 2025 and 22.9% lower than the 10-year average of 2,735 sales.

Sales volumes in Vancouver varied by property type. In April 2026, buyers bought 433 attached homes, 658 detached homes, and 1,009 condominium units. This means that condominiums accounted for almost half (48%) of all residential transitions. Detached homes represented approximately 31% of sales and attached homes, such as townhouses and duplexes, accounted for around 21%. 

Trends also differed among housing types. The Vancouver area saw detached home sales increase by around 14% year-over-year, while condominium sales fell by 10.7% and attached home sales by 2%. These differences may be due to changing affordability conditions, buyer preferences, and varying levels of availability. 

Housing Supply in Vancouver

The supply of homes in Metro Vancouver has increased so far in 2026. At the end of April, there were 16,236 active listings, which was around 38% above the 10-year average for April of 11,773 properties. 

In April, there were a total of 6,684 property listings in the area. While this was 2.4% lower than in April 2025, it was still 15.5% higher than the 10-year average. The increase has given buyers more choice and reduced some of the competitive pressure that was characteristic of the Vancouver real estate market during the pandemic housing boom. 

However, despite the increase, supply of homes is uneven across property types, with detached homes seeing stronger listing growth compared to condominiums and townhouses. 

Homeownership in Vancouver

Vancouver’s homeownership rate is one of the lowest among the major cities in Canada. According to the Canadian Census from 2021, fewer than half of households in Vancouver owned their own, with the majority of households living in rented accommodation. Based on the Census findings 45.5% owned their homes while 54.5% rented. This rate was considerably lower than the national homeownership rate of 66.5%.

The high cost of homes has made homeownership difficult for many residents, especially younger adults and first-time buyers. As a result, many remain in rental accommodation for longer periods or move to more affordable areas elsewhere in the region. 

Housing Affordability in Vancouver

Vancouver remains the least affordable housing market in Canada. The average home prices exceed $1.2 million in the region, meaning that many households need annual incomes well into the six figures to get a mortgage. Detached homes, with an average price nearing $2 million, are beyond the reach of many middle-income buyers. 

The gap between the cost of homes and household incomes continues to be one of the highest in Canada. Even though benchmark prices have come down since their 2022 peak, affordability is still a major challenge because of elevated borrowing costs and the high cost of living in Vancouver. 

As a result, many residents have had to adjust their housing choices, with some purchasing condominiums instead of detached homes, others moving to more affordable suburbs, or renting for longer before entering the housing market. 

Future Outlook for Vancouver Real Estate

Most forecasts regarding Vancouver real estate suggest that the region’s housing market will be relatively balanced for the remainder of 2026 and into 2027. Sales activity is predicted to be below historical averages with benchmark prices continuing to trend lower than a year earlier. However, population growth, immigration, and limited availability of land mean that demand for housing will continue strong in the region. 

Many analysts expect housing activity to strengthen provided that borrowing costs decline and buyer confidence improves. Lower mortgage rates would help more people get on the property ladder and encourage more buyers to the market. 

However, forecasts generally do not predict a return to similar price growth seen during 2020 and 2021, when exceptionally low rates and strong demand pushed prices to record levels. Instead, predictions generally point to a more stable market with modest price growth.