Home sales in B.C. are picking up slowly but steadily, according to a new report from the British Columbia Real Estate Association (BCREA), and while prices have come down, they haven’t come down by much.
The latest report from the BCREA analyzes numbers from August 2026, stating that 5,653 sales were recorded in Multiple Listing Service (MLS) Systems. That’s a four per cent decrease compared to August 2025.
While much has been made of home prices coming down, the BCREA report suggests that prices, compared to August 2025, came down just 1 per cent.
BCREA states, “The average MLS residential price in B.C. in August 2026 was down 1 per cent [to] $924,826 compared to $925,917 in August 2025.”
In dollar volume, $5.2 billion in sales was recorded in August 2026, a 4.8 per cent drop compared to last year.
BCREA
Brendon Ogmundson, the chief economist at the BCREA, says that while home sales in B.C. are “well below” long-term averages, he expects a gradual turnaround. However, actions by U.S. President Donald Trump are adding some uncertainty to that reality.
“We expect a gradual recovery in sales to continue, though new tariffs and a recent spike in long-term interest rates add a layer of risk to that scenario.”
BCREA says that so far, year-to-date, sales dollar volume is down 6.5 per cent to $43.26 billion compared to the same period last year. Total residential unit sales are down 5.5 per cent to 46,069 units.
Unsurprisingly, the Greater Vancouver area has the highest residential average price at $1,213,418. Both the B.C. Northern region and the B.C. Interior posted the lowest average prices.
BCREA
Year-to-date, not one region covered by the BCREA saw an increase in total residential unit sales. Every region saw a drop.