February 2026 Vancouver Housing Update
🏡 Market Overview
The Metro Vancouver housing market continues to settle into what many economists are calling a “new normal.” Sales activity remains below historical averages, while inventory has gradually increased compared to last year. Buyers currently have more selection and there's no urgency, which has translated into stable pricing across many segments.
Why are we seeing multiple offers in this market? In short, there are a lot of buyers ready to purchase but are waiting for that perfect place. When new listings hit the market that have an attractive price and meet many buyers criteria we're seeing all the buyers perk up sometimes resulting in multiple offers. A lot of the time there are still 7 days of conditions and there price is not far off from asking, so its not the crazy chase up the price bidding wars you're thinking.
MLS® HPI Benchmark Price · Monthly Trend
Benchmark Home Prices Mar '25 – Feb '26
City of Vancouver vs. North Vancouver — MLS® HPI composite benchmark, all residential
Data Note
Metro Vancouver composite benchmarks are confirmed from official GVR monthly press releases (Mar 2025–Feb 2026). City of Vancouver (VanEast + VanWest blended) and North Vancouver area figures are sourced from GVR area stats packages and North Shore market reports. North Vancouver detached benchmarks confirmed monthly; composite all-residential derived from property-type weighted averages where applicable. All figures in CAD. Source: REBGV / Greater Vancouver REALTORS® (GVR).
GVR / REBGV Area Data · February Snapshot
February Active Listings 2015–2026
City of Vancouver vs. North Vancouver — total MLS® active listings, end of February each year
Vancouver — Feb '26
~2,980
estimated City of Vancouver
Vancouver — Low (Feb '22)
~1,483
pandemic frenzy low
North Van — Feb '25
~892
confirmed from GVR data
North Van — Feb '26
~724
confirmed from GVR data
Data Note
Metro Vancouver totals (Feb 2015–2026) are confirmed from official REBGV/GVR press releases. City of Vancouver and North Vancouver figures for 2015–2023 are estimated using each area's historical share of Metro inventory (~22% Vancouver, ~7% North Van). 2024–2026 submarket figures are sourced from GVR area stats packages. Open dots (◦) indicate estimated values; filled dots indicate confirmed data.
Key Market Context
📉 Market Conditions
• Sales: 1,648 homes sold in February
• Year-over-year: -9.8%
• New listings: 4,734 homes listed
• Year-over-year: -6.4%
• Active listings: 13,545 homes available
• Year-over-year: +6.3%
• Sales-to-active listings ratio: 12.6% overall
Balanced markets typically fall between 12–20%, meaning detached homes are leaning toward buyer territory, while attached homes and condos remain balanced. GVR-Stats-Package-February-2026
Federal & First Nations Land Claim Agreement
You may have seen headlines recently about a new agreement between the federal government and First Nations regarding historic land claims across Metro Vancouver.
Here’s the simplified breakdown.
What happened
The federal government reached an agreement-in-principle with several Coast Salish First Nations to advance long-standing land claims.
What area does it include
The claim territory spans large parts of the Lower Mainland including:
• Vancouver
• North Vancouver
• West Vancouver
• Burnaby
• Richmond
• UBC lands
• portions of Squamish and surrounding regions
What it actually means
Important points:
• Private property ownership is not affected.
• No homeowners are losing land or title.
• It mainly applies to Crown land, future development, and revenue sharing agreements.
Why it matters
These agreements help governments and First Nations work together on:
• long-term development planning
• infrastructure and land use decisions
• economic partnerships
For buyers and sellers today, there is no immediate impact on real estate ownership or transactions.
🔮 Looking Forward
Spring is historically the most important period for the Metro Vancouver housing market. A few factors will determine how the next few months unfold:
• whether buyers return as interest rates stabilize
• if new listings remain limited
• continued affordability pressures
If demand picks up while listing activity stays constrained, we could see prices stabilize through the spring market.
For buyers, the current environment offers more selection and negotiating leverage than we’ve seen in several years.
If you’re thinking of making a move in 2026 feel free to reach out to me or Steve Saretsky.
70 homes sold last year and happy to help you too!
Feel free to reach out if you want to connect with me! 778-951-5853 LUKE@SARETSKYGROUP.COM
^ Book a call with me to discuss your options here ^
Luke Annunziello | Vancouver Realtor
About Luke
Luke is a real estate professional with a distinguished career as a realtor since 2019, specializing in the Greater Vancouver market. His expertise extends beyond traditional real estate services, as he possesses a comprehensive understanding of property renovations, accumulated over a period of seven years. Clients appreciate Luke for his friendly nature and ability to establish rapport, making complex transactions more accessible.
Luke is a part of the esteemed Saretsky group which is part of the top 1% of all realtors in Vancouver. This affiliation with the Saretsky group translates into a range of benefits for his clients. From market expertise and extensive networks to enhanced marketing capabilities and exclusive opportunities, Luke can provide a superior level of service and results for those seeking assistance in the competitive Vancouver real estate market.
When not doing real estate transactions you can find him playing hockey, snowboarding on the mountains or spending time with his wife and daughter. Whether navigating the dynamic Vancouver market or incorporating renovation insights into property dealings, Luke stands as a reliable and professional ally, ensuring a seamless and positive experience for his clientele.
Whether you're looking to buy or sell a property in North Vancouver or elsewhere in Vancouver, Luke is the agent you can trust to guide you through the process and achieve your goals.
