Brought to you by North Vancouver REALTOR Jim Pilkington of Oakwyn Realty
After showing encouraging signs of renewed momentum in June, the Metro Vancouver housing market took a step back in July, reminding buyers and sellers that today’s real estate landscape continues to be one of balance rather than rapid change.
Residential sales across Metro Vancouver totalled 2,061 homes in July 2026, down 9.8% from July 2025 and sitting 18.6% below the 10-year seasonal average. The decline was driven primarily by the apartment market, where sales fell nearly 18% year over year.
For North Vancouver buyers and sellers, however, the story is more nuanced than the headline numbers suggest. While sales activity slowed, inventory also continued to decline as fewer homeowners chose to bring their properties to market. New listings dropped 11.5% compared to last July, while total active listings were down 4% year over year. Although inventory remains above historical averages, the recent slowdown in new listings may signal that supply is beginning to tighten.
The overall sales-to-active listings ratio sits at 13%, a level that continues to point toward balanced market conditions. Historically, home prices tend to soften when this ratio remains below 12% for an extended period and strengthen when it rises above 20%. With today’s market sitting between those thresholds, we’re seeing relatively stable pricing rather than significant movement in either direction.
The Metro Vancouver MLS® Home Price Index benchmark price is now $1,088,800, down 6.2% from one year ago and 0.9% compared to June. Detached homes now carry a benchmark price of $1,822,900, apartments sit at $688,000, and townhomes are benchmarked at $1,030,400.
For buyers, North Vancouver Realtors continue to see conditions that provide excellent opportunities. More inventory than we’ve experienced over the past several years, combined with stable pricing and less competition than during the peak market, gives purchasers greater negotiating power and more time to make informed decisions.
For sellers, success continues to come down to preparation and pricing. Well-presented homes that are accurately priced are still attracting serious buyers and achieving strong results, particularly in desirable North Vancouver neighbourhoods where demand remains steady despite the broader market slowdown.
As we move toward the fall market, it will be important to watch whether the recent decline in new listings continues. If inventory keeps tightening while buyer demand gradually improves, market conditions could become more competitive in the months ahead.
If you’re thinking about buying or selling in North Vancouver and would like to discuss how these market trends affect your home’s value or your real estate plans, I’d be happy to help.
Jim Pilkington
North Vancouver REALTOR | Oakwyn Realty
