Greater Vancouver New(er) Home Resale Report: August 2026.

Data correct as of 8 September 2026.

August gives us our final look at Metro Vancouver’s newer, entry level resale market before heading into the important fall market. This report focuses specifically on newer condos, townhomes and detached homes that represent some of the most attainable ownership and move up opportunities across the region. The August numbers show a market that continues to strongly favour buyers, giving those entering the fall more time, selection and negotiating power than we have seen in years.

There are plenty of headlines giving people reasons to sit on the sidelines. But at some point, life moves on. People get married, have kids, change jobs, need another bedroom or simply reach a point where they want a home of their own. At the same time, Canada is making a major push to attract global investment and create the next generation of jobs. This month, Prime Minister Mark Carney is hosting the first Canada Investment Summit as part of the federal government’s goal of attracting $1 trillion of investment over the next five years.

If Canada succeeds in attracting more businesses, capital and talent, those people will need somewhere to live. Against that longer term backdrop, August shows just how much opportunity exists today. Across the four newer entry level resale housing types tracked in this report, 185 homes sold, down 2% from last year, while 2,420 active listings were down 11%, resulting in an 8% sales to listings ratio.

This is where I think things get really interesting. While Canada is trying to grow the economy of tomorrow, Metro Vancouver is building fewer homes for tomorrow’s residents to actually own. According to CMHC’s Fall 2026 Housing Supply Report, purpose built rentals now represent roughly 60% of housing starts in the Vancouver region, while condominium starts fell another 40% in the first half of 2026 to their lowest level since 2011. CMHC warns that declining condo construction creates a longer term risk to ownership affordability because condos have historically been the region’s largest source of new homeownership supply.

The homes buyers are not buying today are increasingly becoming the homes developers are not building tomorrow. Nearly 4,000 completed developer owned homes still need to be absorbed, with developers competing through price reductions, incentives and the ability for eligible first time buyers to recover 100% of the GST on qualifying new homes priced up to $1 million. There is plenty of choice today. The ownership pipeline behind it tells a very different story.

After 15 years in residential real estate, and now as a homeowner and father with a young family myself, I believe buyers need to look beyond what the market feels like today and think about where they want to be five or ten years from now. Renting can make sense right now as rents soften and rental supply increases. But for those with stable incomes, the ability to comfortably afford a home and plans to remain here long term, August’s numbers show the kind of buying environment that deserves attention heading into this fall. Buyers have time to research, negotiate and make a thoughtful decision.

Nobody can guarantee where prices go next, but construction takes years. What is not being built today cannot suddenly appear when buyers come back. Owning the right home can provide stability, build equity and help grow your net worth over time. Sometimes the best long-term opportunities appear when everyone else is still waiting to feel comfortable.

Townhomes were flat compared to last year.

Newer entry-level townhome sales in August 2026 remained flat compared to the previous year, with 27 homes sold. Active listings were also relatively unchanged year-over-year, leaving buyers with ample inventory to choose from and strong negotiating power.

Prices continued to soften across most markets as many buyers maintained a wait-and-see approach. Townhome demand is also closely tied to the condo market, as many prospective townhome buyers are move-up purchasers selling a condo to gain more space. With condo values having softened, some owners have less equity available than they may have previously anticipated, making the move into a larger townhome more difficult.

For buyers in a position to make that move, however, current conditions are creating an increasingly attractive opportunity. Greater selection and softer pricing are allowing some buyers to consider neighbourhoods and communities that may have previously been out of reach.

Median sale prices in August ranged from $700,000 in South Surrey to $1,380,000 on Vancouver’s Westside, highlighting the significant range in entry-level townhome pricing across Metro Vancouver.

One-bed condo sales stayed subdued.

Newer one-bedroom condo sales remained subdued in August 2026, with 47 homes sold, unchanged from the previous year. Active listings, however, declined 13% year-over-year, as some would-be sellers likely chose to rent or occupy their homes rather than sell into a softer market.

Downtown Surrey and Richmond were notable bright spots, with 11 sales in Surrey, up 38% year-over-year, and 10 sales in Richmond, up 400%. Despite the improvement in activity, median sale prices remained down by double digits across most tracked markets. As the one-bedroom market continues to adjust, August pricing suggests signs that a potential bottom may be forming.

At current price points, the cost of owning is moving closer to the cost of renting a comparable home, creating a compelling opportunity for first-time and younger buyers to enter the market and begin building equity over the long term.

Median sale prices ranged from $375,000 in Downtown Surrey to $549,500 in North Vancouver.

Two-bed condo sales remained slow as well.

Newer two-bedroom condo sales remained under pressure in August 2026, with 89 homes sold, down 10% from the previous year. Active listings also declined 10% year-over-year, though market conditions continue to firmly favour buyers.

As with the one-bedroom market, newly completed developer-owned inventory continues to compete directly with newer resale condos. First-time buyers can benefit from GST savings on qualifying new homes, while developers have also made significant price adjustments to move remaining inventory. This competition is weighing on resale demand and is likely to continue until the estimated 4,000 units of standing new inventory see a substantial amount absorbed.

For buyers, these conditions are creating strong negotiating opportunities in the newer condo market, with prices on some homes adjusting by upwards of $150,000 from previous highs.

Median sale prices for newer two-bedroom condos ranged from $459,250 in Downtown Surrey to $2,850,000 in Downtown Vancouver.

Single-family homes saw some movement, but declined year-over-year.

Newer entry-level single-family home sales remained limited in August 2026, with just 22 homes sold, although this represented a 47% increase from the previous year. Inventory declined nearly 20% year-over-year, while Surrey, Coquitlam and Burnaby recorded no sales despite carrying a combined 82 active listings.

Affordability remains a significant hurdle, with newer detached homes starting around $1.5 million in Surrey. Many buyers in this segment are move-up purchasers relying on equity from an existing condo or townhome. As those markets have softened, some owners have less equity available than anticipated, making the move into a newer detached home more difficult.

At the same time, lower prices for older detached homes are creating competition for newer inventory. In Surrey and Langley, some older homes are now selling in the $900,000s, giving buyers willing to renovate an increasingly attractive and more affordable path into the single-family market.

Median sale prices ranged from $1,585,000 in South Surrey to $4,498,000 on Vancouver’s Westside.

Reasons why you should consider newer-home resale data:

1. Facilitates wise choices in new pre-sale purchases by providing valuable comparables, offering insights into product considerations for both personal use and investment.
2. Great for those looking to purchase housing that is still in the early stages of its lifecycle – this means less repairs & maintenance during the first few years of ownership.
3. More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.
4. Homes include some of the latest design and technology – great for resale value.
5. Monthly sales statistics crucial for evaluating and planning new housing developments.
6. These figures are routinely used by industry stakeholders such as real estate developers to understand the value of land, and anticipated market values for newly completed homes.