As 2025 winds down, the latest housing data from across British Columbia is offering a clearer picture of where the market is heading in early 2026 — and it’s trending toward a slower, more balanced environment with important implications for both buyers and sellers.
Market Activity Cooling in November
According to the British Columbia Real Estate Association (BCREA), residential sales in November 2025 were down about 13% compared to last year, and well below historical averages. The average MLS® residential price across the province also softened slightly year-over-year. Residential sales dollar volume was down more than 14%, and activity weakened as the market moved closer to the holidays.
This cooling trend is reflected in both provincial figures and in local boards across the Lower Mainland and Fraser Valley, where sales activity remains subdued as inventory stays elevated — a dynamic that increases buyers’ negotiating power.
Prices Showing Modest Softening
In Metro Vancouver specifically, the Greater Vancouver REALTORS® reported a decline in sales and a slight decrease in benchmark prices in November 2025 compared with last year. Detached, townhouse, and condo prices all saw moderate downward pressure, while inventory levels remain healthier than in recent years.
Something to Watch: Higher Rental Vacancies
Meanwhile, rental markets in major regions like Greater Vancouver and Greater Victoria have seen vacancy rates more than double compared to recent years, according to the latest rental market report. Rising vacancy and falling rents signal a shift in housing dynamics and give longer-term renters more options — a welcome relief after years of intense competition for rental units.
What This Means for Buyers
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More choice: Elevated inventory and slower sales give buyers the ability to take their time.
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Negotiation leverage: With less urgency in the market, buyers can negotiate more favorable terms.
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Softening prices: While prices aren’t collapsing, modest declines can present opportunities for well-qualified buyers.
What This Means for Sellers
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Pricing matters more than ever: In a market with fewer competing buyers, accurately pricing properties is essential.
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Presentation is key: Quality staging and marketing help homes stand out when fewer buyers are active.
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Expect patience: Properties may take longer to sell than they did in previous years.
Looking Ahead
Economists and industry experts expect the market to remain balanced going into early 2026, with any rebound in activity likely tied to shifts in buyer sentiment, interest rates, and broader economic conditions. Falling mortgage rates earlier in the year helped moderate activity, but the strong fundamentals of local markets — including long-term demand drivers like population growth — continue to shape market behavior.
If you’re thinking about moving, selling, or exploring investment opportunities early in 2026, now is a great time to plan your strategy with current market insight.
