Apartment Sales Lag While Other Housing Segments Hold Steady
The Greater Vancouver real estate market is transitioning into a calm and orderly summer. According to the latest data from Greater Vancouver REALTORS® (GVR), May 2026 saw a slight cooling in overall sales, driven primarily by a dip in the apartment segment. However, detached and attached homes are demonstrating resilient stability.
If you are thinking of buying or selling in Metro Vancouver, here is a detailed breakdown of what the current numbers mean for you.
Key Market Highlights for May 2026
Overall residential sales registered on the MLS® in Metro Vancouver totalled 2,150 in May 2026. This represents a 3.5% decrease compared to May 2025 (2,228 sales) and tracks 26.6% below the 10-year seasonal average.
Despite the lower sales volume, the market is benefiting from a healthy level of inventory, leading to flat month-over-month price trends and an balanced environment for both buyers and sellers.
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Composite Benchmark Price: $1,100,700 (Down 6.2% Year-over-Year, Up 0.2% Month-over-Month)
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Total Active Listings: 16,917 properties
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Overall Sales-to-Active Listings Ratio: 13.1%
“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. Even then, apartment sales were not down uniformly across all regions – some of the larger areas such as North and East Vancouver saw increases relative to last year.”
— Andrew Lis, GVR Chief Economist and VP Data Analytics
Performance by Property Type
Different segments of the market are moving at slightly different speeds. Here is a snapshot of how detached homes, attached homes (townhouses), and apartments performed in May 2026:
| Property Type | Total Sales | YoY Sales Change | Benchmark Price | YoY Price Change | MoM Price Change |
| Detached Homes | 660 | + 0.9% | $1,847,900 | – 6.9% | + 0.4% |
| Attached / Townhomes | 463 | – 1.3% | $1,048,200 | – 5.1% | + 0.5% |
| Apartments | 1,009 | – 7.2% | $697,800 | – 7.9% | – 0.7% |
Inventory Levels and Market Balance
A major storyline for May 2026 is the robust inventory available to buyers, absorbing the relatively muted demand and keeping prices stable.
Listings Breakdown
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New Listings: 6,115 properties were listed in May 2026, a 7.6% decrease from May 2025, but sitting 1.3% above the 10-year seasonal average.
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Total Active Inventory: There are currently 16,917 properties for sale on the MLS®. While this is a minor 1% decrease year-over-year, it remains a massive 34.6% above the 10-year seasonal average.
Is it a Buyer’s or Seller’s Market?
Market balance is often determined by the sales-to-active listings ratio. Historically, home prices face downward pressure when this ratio dips below 12% for a sustained period, and upward pressure when it surpasses 20%.
Currently, the overall ratio sits at 13.1%, indicating a relatively balanced market leaning slightly toward buyers in certain segments:
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Detached Homes: 10.7%
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Attached Homes: 15.4%
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Apartments: 14.2%
What to Expect This Summer
With demand tracking closely to economic forecasts and inventory remaining elevated, experts predict a stable market ahead.
“Price trends across all housing types were flat month-over-month, as a healthy level of inventory easily absorbed the relatively muted level of overall demand in the market,” Lis noted. “It’s reasonable to expect a calm and orderly summer market, as no obvious near-term catalysts loom over the horizon to move the market significantly in either direction.”
Want to Dive Deeper into the Numbers?
Stay informed to make the best real estate decisions.
[Download GVR’s May 2026 MLS® Residential Market Report Here] (Link to PDF)
Looking to buy or sell in Metro Vancouver? Contact us today to learn how these market trends specifically impact your neighborhood and property value.
