Vancouver home transactions down in February as sellers holding off: board

In a photo taken by drone, Vancouver homes in the Kitsilano neighbourhood of Vancouver are pictured.THE CANADIAN PRESS/Jonathan Hayward

VANCOUVER — Vancouver-area home sales continued at slower pace last month compared to last year as prices were also lower.

There were 1,648 sales of residential properties in the region throughout February, down 9.8 per cent from the same month in 2025 and 28.7 per cent below the 10-year seasonal average.

Greater Vancouver Realtors said the composite benchmark price for all residential properties was $1,100,300, down 6.8 per cent from February 2025 and 0.1 per cent lower than January.

“With each passing data point, the pace of sales running well-below long-term averages are no longer a surprise — it’s become the new norm,” said Andrew Lis, the board’s chief economist and vice-president of data analytics, in a press release.

“A surprising finding this February, however, is that home sellers appear less eager to list their homes relative to last year.”

There were 4,734 new listings on the market last month, down 6.4 per cent from a year earlier but still 7.1 per cent above the 10-year average.

Lis said the decline in new listings was mostly driven by fewer condos being put on the market.

Sales of apartment-style homes totalled 824 in February, a 15.6 per cent decrease compared with February 2025. The benchmark price of a condo was $708,200, representing a 6.8 per cent decrease year-over-year.

Total inventory across all housing types grew 6.3 per cent year-over-year to 13,545, which was 37 per cent above the long-term average.

“With fewer sellers coming to market with their properties than last year, a pick-up in demand leading into the spring could result in a stagnation of standing inventory, which may support prices around current levels,” Lis said.

“With sales slightly outpacing our 2026 forecast year-to-date, the spring market will be the litmus test of whether we continue along this new normal, or if we see any significant surprises.”

There were 427 sales of detached homes in February, a 10.5 per cent decrease from a year ago, as the benchmark price for that segment was $1,835,900 — 8.8 per cent lower year-over-year.

Attached home sales totalled 387, a 7.8 per cent increase from February 2025, as the benchmark price was $1,046,100 — a 5.6 per cent decrease.

This report by The Canadian Press was first published March 3, 2026.

Sammy Hudes, The Canadian Press