Vancouver-area home sales down 3.5% in May as condo market lags: real estate board

In a photo taken by drone, Vancouver homes in the Kitsilano neighbourhood of Vancouver are pictured Monday, October 3, 2022. THE CANADIAN PRESS/Jonathan Hayward

Weak condo sales dragged down real estate activity in the Vancouver area last month, as prices also moved lower compared with a year ago.

The city’s real estate board said there were 2,150 home sales in the region in May, down 3.5 per cent from the same month last year and 26.6 per cent below the 10-year seasonal average.

The composite benchmark price for all types of residential properties in Vancouver was $1,100,700, a 6.2 per cent decrease from May 2025, but 0.2 per cent higher than April 2026.

Weak condo sales dragged down real estate activity in the Vancouver area last month, as prices also moved lower compared with a year ago. (June 2, 2026)

“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,” said Andrew Lis, Greater Vancouver Realtors’ chief economist and vice-president of data analytics, in a news release.

“Year-to-date, sales have come in just shy of our forecast to this point in the year. With demand tracking our forecast so closely, 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.”

Last month, there were 6,115 new listings on the market, down 7.6 per cent year-over-year but 1.3 per cent above the 10-year average.

Total inventory fell one per cent annually to 16,917, which was 34.6 per cent above the long-term average.

Despite the decline in overall activity, sales of detached homes grew 0.9 per cent to 660 in May. Attached home sales totalled 463, a 1.3 per cent decrease compared with the same month last year.

There were 1,009 sales of apartment homes, a 7.2 per cent decrease compared with a year ago.

Lis noted that while condo sales weighed down overall activity levels, transactions in that category were not down uniformly across all regions. He said some of the larger areas such as North and East Vancouver saw increases in condo activity relative to last year.

This report by Sammy Hudes, The Canadian Press, was first published June 2, 2026.