July brought a bit of a reality check to the Metro Vancouver housing market. After sales increased in June, that momentum didn’t carry through into July. Sales fell nearly 10% compared with last year, reinforcing the pattern we’ve been seeing lately: one step forward, one step back.

Here are the key numbers:

• 2,061 homes sold in July, down 9.8% from July 2025 and 18.6% below the 10-year seasonal average.

• 4,991 new listings came to market, down 11.5% from last year and almost exactly in line with the 10-year average.

• The overall sales-to-active listings ratio was 13%, keeping the market relatively balanced but close to the 12% level historically associated with downward pressure on prices.

Detached Homes

• 639 sales, down 3.2% year-over-year

• Benchmark price: $1,822,900

• Prices down 7% year-over-year and 1.1% from June

Apartments

• 952 sales, down 17.8% year-over-year

• Benchmark price: $688,000

• Prices down 7.5% year-over-year and 1% from June

• Apartments saw the largest decline in sales activity of the three property types.

Townhouses

• 454 sales, down 1.1% year-over-year

• Benchmark price: $1,030,400

• Prices down 6% year-over-year and 1.5% from June

What does this mean?

July’s numbers show that buyers continue to have plenty of choice, and price sensitivity remains an important part of the market. Apartments saw the biggest slowdown in sales, while detached and townhouse sales held up somewhat better.

For sellers, pricing realistically from the beginning continues to matter. For buyers, the combination of inventory and softer prices may provide more room to negotiate than we typically see in a busier market.

The market isn’t moving in one clear direction right now, which makes it particularly important to look at the numbers for your specific neighbourhood and property type rather than relying on the overall Metro Vancouver statistics.