The Greater Vancouver newer resale market is going through a fascinating shift right now. If you only look at the broad headlines, you might miss the real story. Total sales are down 17% compared to this time last year, but we are actually seeing a tale of two completely different markets. On one side, end users with solid equity are moving up, absorbing larger properties from an active inventory pool that is down 13% over the year. This flight to functional space triggered a significant 79% increase in newer single family home sales with 34 transactions, and pushed townhome sales up 7% to 47 units. Meanwhile, the entry level segment has cooled visibly. Two bed condo sales slipped 10% to 116 units, and one bed transactions dropped 47% with just 65 homes changing hands.
However, a major piece of the puzzle is missing from these resale numbers. The newer resale condo market is in direct competition with a growing supply of newly completed, developer-owned inventory. Because builders are carrying completed units, they are offering steady incentives to move them. These private developer transactions do not show up in our MLS resale statistics, meaning actual condo sales are likely higher than reported. Because this brand new inventory is priced competitively with newer resale, buyers get the added benefits of GST exemptions, brand new home warranties and a space that has never been lived in. It is highly probable that reported condo resale numbers will remain well below historical averages until this newly completed inventory is substantially absorbed.
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The newer resale condo market is in direct competition with a growing supply of newly completed, developer-owned inventory.
Manraj Dosanjh
Personal Real Estate Corporation at Dexter Realty
This drop in condo sales also highlights how young people view money today. Let us be real, for a lot of young adults, real estate has been put on the back burner. Facing tough affordability, today’s generation is living in a very different world than we were even five years ago. Capital is constantly being pulled away by a hyper-connected digital lifestyle. Between instant sports betting, hot stock tips like Nvidia or SpaceX just a tap away on your phone and payment platforms like Klarna, it is easier than ever to finance lifestyle choices. In fact, a notable 60% of Coachella attendees chose to finance their festival experiences over time using installment plans. Throw in some very valid anxieties about job security with the rise of artificial intelligence, and it is completely understandable why many first time buyers are hitting pause or waiting on the sidelines.
But while the digital world offers instant gratification, real estate offers something much harder to find these days, and that is stability. In a world full of daily micro transactions, the fact that real estate is an illiquid asset is actually its greatest asset. It acts as a built in, disciplined savings plan that protects your capital from short term temptation. For first time buyers looking for an entry point, the current condo market presents a unique window. When you look at the numbers, the monthly price to own a one or two bedroom condo right now operates a lot like a housing subscription service, and it is running relatively in line with what you would pay in monthly rent for that exact same property. With prices in prime communities like the Fraser Valley now sitting nearly 30% below their peak, the opportunity for first time buyers to start building long-term equity has genuinely never been this practical. Markets are naturally cyclical, and capital always rotates through assets.
As the early excitement for the upcoming World Cup starts putting Vancouver back on the global stage, the world is being reminded of just how incredible this place is to live. If you can look past the temporary noise of today, the best long term investment opportunity is waiting right here in our very own dirt.
Townhomes remained tepid.
Townhome sales in May 2026 increased 7% year-over-year, while inventory growth remained relatively flat. Sales gains were concentrated in north-of-the-Fraser markets, including Coquitlam, Richmond, North Vancouver and Vancouver’s Westside, while all other tracked markets recorded year-over-year declines in sales.
Strong demand in Willoughby, Coquitlam and North Vancouver has pushed these markets into seller’s market territory, while the remaining tracked markets continue to favor buyers.
Median sale prices in May 2026 ranged from $810,000 in South Surrey to $1.5 million in Vancouver’s Westside, highlighting the wide range of pricing across Metro Vancouver's townhome market.
One-bed condos slipped again.
Demand for one-bedroom homes remains under significant pressure, with sales in May 2026 down 47% year-over-year and 28% month-over-month.
Interestingly, inventory also declined across most tracked markets. The exceptions were Downtown Surrey and Coquitlam, where inventory increased by 4% and 23% year-over-year, respectively. Overall, active inventory was down 20% compared to May 2025.
Several factors appear to be weighing on resale one-bedroom demand. Investors remain largely on the sidelines, while many first-time buyers are stretching into two-bedroom homes where possible. At the same time, the new development market continues to offer compelling incentives, including GST exemptions and aggressive pricing. As a result, resale one-bedroom prices have continued to adjust downward. For renters considering homeownership, improving affordability may begin to create opportunities as ownership costs move closer to rental costs.
Median sale prices for one-bedroom homes ranged from $376,850 in Downtown Surrey to $745,000 in North Vancouver.
Two-bed condos dropped year-over-over.
Two-bedroom condo sales declined by 10% in May 2026 compared to the same period last year. Similar to the one-bedroom segment, resale product continues to compete directly with newly completed, move-in ready developer inventory, which remains heavily incentivized and is anchoring near-term pricing.
First-time buyers are increasingly active in the two-bedroom segment, with prices down double-digits in most major markets, representing a reset of approximately 20% to 25% from peak levels in many investor-heavy areas.
Demand remains strongest in functional end-user layouts, while less efficient or investor-oriented product continues to lag, reflecting a clear split in absorption across product types.
North of the Fraser, East Vancouver represents one of the most affordable two-bedroom entry points, with a median sale price of $700,000 in May, slightly below Coquitlam at $720,000. Suburban markets continue to capture a larger share of sales activity. Median sale prices for two-bedroom condos ranged from $574,000 in South Surrey to $1.58 million in Downtown Vancouver.
Single-family homes saw movement, but remain tepid overall.
Single-family home sales continued to gain momentum in May, increasing by 79% year-over-year and 36% month-over-month. However, total volume remained limited at 34 sales, with activity relatively evenly distributed across most tracked markets, aside from Willoughby, which recorded eight sales and North Vancouver, which recorded none.
Market activity within newer resale single-family homes continues to be highly price-sensitive, with results varying significantly by submarket and individual listing. Well-priced homes in suburban markets are seeing stronger demand, while overpriced listings are taking longer to sell or are not attracting offers, leading to uneven activity across segments.
Median resale prices ranged from $1.29 million in Surrey to $3.31 million in Vancouver’s Westside.
Reasons why you should consider newer-home resale data:
- Facilitates wise choices in new pre-sale purchases by providing valuable comparables, offering insights into product considerations for both personal use and investment.
- 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.
- More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.
- Homes include some of the latest design and technology – great for resale value.
- Monthly sales statistics crucial for evaluating and planning new housing developments.
- 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.
