Is the Greater Vancouver housing market a buyer’s market, a seller’s market, or a balanced one?
Well, it’s a bit of a mixed bag according to the latest Royal LePage housing market forecast, with some positive trends, depending on who you’re asking.
“The market has been on a gradual upswing in recent months as we approach the spring season,” said Randy Ryalls, managing broker, Royal LePage Sterling Realty.
Across Greater Vancouver, the aggregate home price decreased 4.5 per cent year over year to $1,174,500. Royal LePage says prices also decreased modestly by 0.4 per cent over Q4 2025.
Royal LePage also broke down prices by home type in Greater Vancouver.
The median price of a single-family detached home in Greater Vancouver decreased 5.7 percent year over year to $1,660,800.
Unsurprisingly, condos are still by far the most affordable way to get into the Greater Vancouver housing market, and the median price decreased 4.8 percent year over year to $729,000.
“In March, transaction volume increased, notably month over month, suggesting that consumers are beginning to re-engage. We’re also seeing the return of multiple offers and stronger foot traffic at open houses, and anecdotally, agents are reporting increased activity,” Ryalls said.
“Buyers are engaged and responding to well-priced, well-presented inventory. We’re also continuing to see a higher number of ‘subject to sale’ offers, which indicates that both move-up and downsizing buyers are present in the market.”
Within the City of Vancouver, the aggregate home price decreased 3.9 per cent year over year to $1,366,800 in the first quarter of 2026. The median price of a single-family detached home decreased by 5.4 per cent year over year to $2,160,400, while the median condo price decreased 4.6 per cent in the same period to $780,100.
Royal LePage predicts that the aggregate price of a home in Greater Vancouver will decrease 3.5 per cent in the fourth quarter of 2026 compared to last year.
“Looking ahead, I anticipate a busier spring market that will help to offset the slower start to the year,” said Jason Ralph, a broker and owner with Royal LePage Team Realty.
“Inventory levels remain higher than in recent years, giving buyers more choice and keeping the market in balanced territory, while prices are expected to remain relatively stable in the months ahead.”