By early 2026, Vancouver real estate feels calmer, slower, and more rational than it has in years. After the frenzy of the pandemic boom and the sharp correction that followed, 2025 was largely a year of reset. Prices softened, buyers gained leverage, and sellers had to re-learn how to price and market homes properly.The market hasn’t crashed — but it has normalized. Interest rates are lower than their peak, inventory is higher, and buyers are no longer rushing. On the North Shore in particular, the market has become much more segmented: well-priced, well-located homes still sell, while anything overpriced or compromised can sit for months.Looking ahead to 2026, most professionals expect more of the same: stability, modest movement, and a market driven by lifestyle needs rather than speculation.
Market Overview: Where Things Stand Now
As of early 2026, Metro Vancouver is best described as a buyer-leaning, balanced market. Sales activity is below long-term averages, inventory levels are elevated compared to recent years, and prices have mostly moved sideways or slightly down.Interest rates are no longer the shock they were in 2023 and early 2024. Buyers have adjusted psychologically and financially. While borrowing is still expensive compared to the ultra-low rates of the pandemic, rates are now predictable — and that alone has helped bring cautious buyers back into the conversation.Employment across the region remains relatively stable, but population growth has slowed. Immigration levels were reduced in 2025, which took some pressure off both rental and ownership demand. At the same time, construction costs remain high, and land is still scarce, especially in established areas like North and West Vancouver.The result is a market where prices aren’t running away — but they aren’t collapsing either. Instead, each sub-market has its own story.
Condo Market: The Most Challenged Segment
If one segment has struggled the most, it’s condos. Across Metro Vancouver, condos faced a difficult 2025. Inventory built up, particularly in areas with heavy development over the past decade. Buyers became much more selective, and investors largely stepped to the sidelines as rent growth slowed and carrying costs stayed high.In the City of Vancouver, many condo sellers had to reduce expectations. Pre-sale buyers from earlier years sometimes tried to exit at a loss, and developers quietly adjusted pricing or incentives. On the North Shore, condos held value better due to limited supply, but even there, buyers took their time.For consumers, the condo market now feels negotiable. Buyers are comparing options, asking for concessions, and no longer feeling pressured to act immediately. For sellers, pricing correctly from day one matters more than ever — because overpriced condos tend to linger.
Townhouse Market: The Quiet Middle Ground
Townhouses have been the steadiest part of the market. They’ve benefited from a simple reality: many buyers want more space than a condo but can’t — or don’t want to — stretch to a detached home.On the North Shore, townhouses remain especially popular with young families and downsizers. Supply is limited, and demand is consistent, even if it’s less aggressive than in previous years. Prices haven’t surged, but they haven’t dropped dramatically either.Buyers still feel value here. A townhouse often represents a lifestyle upgrade without the full cost of a detached home. Sellers, meanwhile, can still expect interest if their home is well presented and realistically priced.
Detached Homes: Still Expensive, but More Human
Detached homes remain the most expensive part of the market, but 2025 humbled this segment. Buyers pushed back. Sellers who were anchored to 2021 pricing often had to adjust — sometimes significantly.In West Vancouver, the correction was more noticeable, particularly at the high end. Luxury buyers became patient, selective, and value-driven. On the North Shore, demand remained stronger for well-located family homes, but even there, buyers expected condition, layout, and pricing to align.The key change is psychology. Detached buyers are no longer in a rush. They’re willing to wait for the right home, and they’re comfortable negotiating. Sellers who understand this are still transacting; those who don’t often end up chasing the market down.
How the Property Types Compare
Condos are the most price-sensitive and investor-driven, which makes them vulnerable when financing costs rise. Townhouses sit in the sweet spot — lifestyle-oriented, family-friendly, and relatively scarce. Detached homes are still aspirational, but affordability caps have forced a reality check.In simple terms: condos feel cautious, townhouses feel stable, and detached homes feel selective.
Buying in Vancouver: What Actually Works Right Now
For buyers, this is the most balanced market Vancouver has seen in years. You have time. You can negotiate. Conditions are back on the table.The smartest buyers are focusing less on timing the market and more on buying the right property at the right price. Locking in a home that fits long-term lifestyle needs matters more than squeezing out a perfect bottom.Financing strategy is critical. Getting pre-approved, understanding payment flexibility, and stress-testing your budget matters far more than chasing headlines. Inspections, document reviews, and patience are back in fashion — and that’s a good thing.The biggest mistake buyers are making? Waiting forever for prices to collapse. Vancouver rarely behaves that way.
Selling in Vancouver: Reality Beats Hope
Selling in 2026 requires strategy. Buyers are educated, cautious, and spoiled for choice.Homes that show well, are priced properly, and are marketed professionally still sell. Homes that aren’t feel invisible. The market punishes overpricing quickly — especially for condos and luxury homes.Timing matters, but preparation matters more. Staging, presentation, and transparency go a long way in rebuilding buyer confidence. Sellers who adapt to today’s market conditions tend to do just fine.
What 2025 Taught Everyone
2025 was a year of adjustment. Prices softened, sales slowed, and expectations reset. The speculative energy of earlier years faded, replaced by a more thoughtful, needs-based market.Buyers relearned patience. Sellers relearned pricing. And the market, overall, became healthier — even if less exciting.
Looking Ahead to 2026
Most real estate and finance professionals expect 2026 to be steady rather than dramatic. Modest price movement. Gradual return of confidence. No runaway growth — but no crash either.Interest rates are expected to remain relatively stable, which supports buyer confidence. Immigration is expected to normalize slowly. Long-term housing shortages haven’t gone away — they’ve just paused in their impact.