Real Estate Market Update February 2026: Slower sales activity continued across Metro Vancouver and North Vancouver in February, with elevated inventory levels, balanced-to-buyer-leaning conditions, and buyers taking more time to evaluate homes in a competitive market.
In our Real Estate Market Update February 2026, we explain what actually happened in the Metro Vancouver and North Vancouver housing market during the month. We review the latest market statistics from Greater Vancouver REALTORS®, examine how inventory levels and pricing trends are shaping results, and explore why buyers are becoming more selective in today’s market. This update also looks at the broader economic and policy factors that influenced housing activity in February.
Whether you’re planning a move, preparing to sell, or simply keeping an eye on the market, this update provides context around current housing trends and what they may mean for real estate decisions in North Vancouver.
How did the February market compare to January? Read our article about the Vancouver housing market in January 2026.
Table of Contents:
February 2026 Market Summary
Monthly Real Estate Market Stats
Current Housing Market Conditions
Why Are Buyers More Selective Right Now?
How Inventory Influences Market Conditions
Economic and Policy Factors
What Does This All Mean for Sellers?
Thinking About Selling Your Home?
Real Estate Market Update February 2026 Summary
Looking for a quick overview of the real estate market in February? This TL;DR section highlights the key takeaways from our real estate market update February 2026.
Key highlights from the February 2026 housing market:
- Sales activity remained slow. 1,648 homes sold across Metro Vancouver in February, 9.8% lower than February 2025 and 28.7% below the 10-year seasonal average.
- Inventory remained elevated. There were 13,545 active listings, a 6.3% increase year-over-year, giving buyers more choice across most property types.
- New listings declined slightly. 4,734 new listings came onto the market in February, down 6.4% compared to February 2025.
- Market conditions remained balanced to buyer-leaning. The sales-to-active listings ratio of 12.6% indicates buyers have more leverage when comparing homes.
- Benchmark prices remained lower than last year. Overall benchmark prices were down 6.8% year-over-year, though month-to-month changes were relatively stable.
- Apartments and townhomes saw small monthly price gains. Condo prices rose 0.5% month-to-month, and townhomes increased 0.3%, while detached prices edged slightly lower.
- Buyers remained active but more selective. Higher inventory, affordability pressures, and stable mortgage rates meant buyers took more time to evaluate properties.
- Broader economic factors continued to influence the market. Mortgage rates, affordability pressures, housing policy changes, and slower housing construction shaped market conditions, though local supply and demand remained the primary drivers.
- Sellers faced increased competition. With more homes available, accurate pricing and strong presentation remained critical for attracting early buyer interest.
Bottom Line for the Real Estate Market in February: The February 2026 housing market continued the slower sales trend seen in late 2025 and early 2026. Inventory remained elevated, giving buyers more choice and creating balanced-to-buyer-leaning conditions. For sellers, success in this environment often comes down to accurate pricing, strong presentation, and strategic positioning.
February 2026 Market Statistics
Source: GVR
The February GVR Market Report shows that home sales in Metro Vancouver remained below historical averages, sitting 28.7% below the 10-year seasonal average, continuing the slower sales trend seen in late 2025 and January 2026.
Here are the real estate market update February 2026 statistics:
- Residential Sales (Metro Vancouver): 1,648 homes sold (9.8% decrease year-over-year)
- New Listings: 4,734 across all residential property types (6.4% decrease year-over-year)
- Total Active Listings: 13,545 current active listings (6.3% increase compared to February 2025)
- Sales-to-Active Listings Ratio: 12.6% across all residential property types, indicating a balanced-to-buyer-leaning environment (historically, a sales-to-active listings ratio below 15% suggests buyer-leaning conditions, while a ratio above 20% typically indicates a seller’s market)
- MLS® HPI Benchmark Prices (February 2026):
- All Residential Property Types: $1,100,300 (6.8% decrease YoY | 0.1% decrease MoM)
- Detached Homes: $1,835,900 (8.8% decrease YoY | 0.8% decrease MoM)
- Apartments: $708,200 (6.8% decrease YoY | 0.5% increase MoM)
- Townhomes: $1,046,100 (5.6% decrease YoY | 0.3% increase MoM)
While benchmark prices remain lower year-over-year across all property types, apartments and townhomes showed slight month-to-month increases in February 2026, while detached prices edged slightly lower.
The table below summarizes HPI Benchmark Prices across residential property types. It compares February 2026 prices to those in February 2025 and January 2026 (last month).
| Property Type | HPI Benchmark Prices – February 2026 | HPI Benchmark Prices – February 2025 | HPI Benchmark Prices – January 2026 |
| Detached Homes | $1,835,900 | $2,026,500 | $1,850,800 |
| Apartments | $708,200 | $759,600 | $704,600 |
| Townhomes (Attached Homes) | $1,046,100 | $1,111,100 | $1,043,400 |
Real Estate Market Update February 2026 Stats Takeaway: February’s market continued to show slower sales activity and elevated inventory, giving buyers more choice and keeping conditions balanced to buyer-leaning. Benchmark prices remain lower than last year, though month-to-month changes were relatively stable across most property types.
Greater Vancouver Housing Market Conditions
Across Greater Vancouver, the real estate market continues to show a slower pace of activity compared to the peak years of the pandemic-era market. Sales remain below historical averages while the number of available homes has increased, creating a more competitive environment among listings.
One of the clearest indicators of current market conditions is months of supply, which measures how long it would take to sell all available listings at the current sales rate.
Greater Vancouver currently has approximately 11.4 months of supply, reflecting elevated inventory levels and slower absorption of listings.
This higher level of supply means buyers now have more choice when comparing homes. With more options available, buyers tend to take more time to evaluate properties, pricing, and neighbourhoods before making a decision. As a result, homes may take longer to sell than during tighter market periods.
However, it’s important to note that this does not mean the market has stalled. Transactions are still happening across all property types throughout Metro Vancouver. Instead, the current environment reflects a more balanced market dynamic, with buyers holding greater leverage due to elevated supply.
What do these market conditions mean for sellers in North Vancouver?
With more homes available on the market, sellers in North Vancouver face increased competition from other listings. Buyers now have more options and often take longer to make decisions as they compare properties more carefully.
In this environment, pricing based on local market signals and strong presentation become especially important. Homes that are well-prepared and accurately priced from the start are typically better positioned to stand out and generate stronger interest early on.
What do these market conditions mean for buyers in North Vancouver?
For buyers in North Vancouver, elevated inventory levels mean more choice and flexibility when searching for a home. With more listings available, buyers often have more time to compare properties and evaluate value before making an offer.
While desirable homes can still sell quickly, the current environment generally allows buyers to make more calculated and less rushed decisions.
Why Are Buyers More Selective in the Vancouver Real Estate Market Right Now?
Quick Answer: Buyers are more selective in the Vancouver real estate market right now because inventory levels are higher, affordability remains a challenge, and buyers have more time to compare homes before making a decision. As a result, demand still exists, but buyers are approaching purchases more carefully and deliberately.
As you can see in our real estate market update February 2026, buyers remain active in the Greater Vancouver and North Vancouver real estate market, but their behaviour looks different from the urgency seen in previous years. Higher inventory levels, affordability constraints, and shifting buyer priorities have created a market where buyers take more time to evaluate their options before making a decision.
Demand has not disappeared. Instead, buyers are approaching purchases more carefully and comparing properties more closely before committing.
Several factors are influencing how buyers approach the market today.
More Inventory Means Buyers Have More Choice
One of the most important factors shaping buyer behaviour is the increase in the number of homes available across Metro Vancouver. With more listings on the market, buyers can compare multiple properties before committing.
When inventory levels rise, buyers typically:
- Compare more listings within the same price range
- Evaluate value, condition, and location more carefully
- Take additional time before submitting an offer
- Wait for homes that meet their needs and expectations
Affordability Continues to Influence Buyer Decisions
Affordability remains a major factor in the current housing market. Even though mortgage rates have stabilized compared to recent years, borrowing costs and home prices continue to shape how buyers approach purchasing decisions.
As a result, many buyers are:
- Staying within strict budget limits
- Avoiding purchases that stretch beyond their financial comfort zone
- Comparing similar homes carefully before committing
Life Events Are Driving Purchases
Another important shift is why people are buying homes. In today’s market, many housing decisions are driven by life events rather than speculation or urgency.
Common reasons people are moving include:
- Job relocations or career changes
- Growing families that need more space
- Lifestyle changes or downsizing
- Moving closer to work, schools, or family
What does this mean for North Vancouver home sellers?
Even though buyers are taking more time to make decisions, demand still exists across the Greater Vancouver housing market. Well-priced homes that show strong value relative to comparable listings can still attract meaningful interest.
The difference today is that buyers are more analytical and deliberate when comparing homes. For sellers, this reinforces the importance of pricing based on local market signals and preparing a home to stand out early.
How Inventory Influences Market Conditions
Quick Answer: When the number of homes for sale grows faster than the number of homes being purchased, buyers gain more choice, and sellers face greater competition.
In the current Greater Vancouver real estate market, inventory levels are one of the most important factors influencing buyer behaviour, seller outcomes, and the overall real estate market update February 2026. When the number of homes available for sale rises faster than the number of homes being purchased, the balance of power in the market begins to shift.
Right now, inventory has increased while sales activity remains below historical averages. This creates an environment where buyers have more choice and sellers face greater competition.
When inventory grows faster than sales activity, several things typically happen in the housing market:
- Buyers have more options to compare
- Sellers face increased competition from other listings
- Buyers take more time before making decisions
- Pricing mistakes become more noticeable to buyers
- Homes that are not positioned well may take longer to sell
When Inventory is Elevated, Initial Pricing Matters
In markets with elevated inventory, the first couple of weeks (7-14 days) after a home is listed are often the most important. This is when a property receives the most attention from active buyers who are already watching the market.
Homes that are accurately priced and well-prepared at launch are more likely to:
- Generate early interest
- Attract more showings
- Receive stronger offers
On the other hand, properties that are priced too high or not properly prepared to compete with nearby listings can experience:
- Reduced early interest
- Longer time on market
- Increased likelihood of price adjustments
Inventory vs Sales: How Market Balance Changes
The relationship between listings and sales helps explain how market conditions shift.
| Listings vs Sales Conditions | What It Means for the Real Estate Market |
| Listings rising faster than sales | Buyers gain leverage |
| Inventory and sales relatively balanced | Market conditions are more neutral |
| Low inventory relative to sales | Sellers often have more leverage |
Recent market data across Greater Vancouver shows that sales have declined faster than inventory has increased, which keeps supply-demand conditions tilted toward buyers.
What Does This Mean for Sellers on the North Shore?
In an inventory-rich environment, the market tends to reward homes that separate early from competing listings. This means that properties that are priced accurately and presented well from the start are more likely to attract interest, even when buyers have many options.
For sellers on the North Shore, this reinforces the importance of pricing based on local market signals and preparing a home to stand out.
Economic and Policy Factors Affecting the Market
Quick Answer: Several broader economic and policy factors influenced the housing market conditions seen in our real estate market update February 2026. These factors included stable mortgage rates, ongoing affordability pressures, housing-related tax policies, changes to the BC Property Tax Deferment Program, and slower housing construction.
While local supply and demand dynamics remained the primary drivers of real estate activity in February 2026, macroeconomic factors also influenced buyer confidence, affordability, and long-term housing supply expectations.
It’s important to note that these macroeconomic factors shape the market gradually, but they do not typically cause immediate shifts in buyer behaviour.
What Economic and Policy Factors Are Shaping the Housing Market?
| Factor | What It Means for the Housing Market |
| Relatively stable mortgage rates | Borrowing costs are more predictable than in recent years, but rates remain high enough to limit affordability and urgency among buyers. |
| Affordability pressures | Higher home prices combined with borrowing costs continue to make buyers cautious and price-sensitive. |
| Housing-related taxes and development costs | Policy changes affecting development and property ownership may increase building costs and influence investor participation |
| BC Property Tax Deferral Program changes | Adjustments to deferment interest rates may affect how some homeowners manage carrying costs and financial planning. |
| Slower housing starts | A slowdown in new construction may affect future housing supply, but it does not reduce current resale inventory. |
Relatively Stable Mortgage Rates
Mortgage rates have stabilized compared to the volatility seen in recent years. While rates remain higher than the ultra-low levels experienced during the pandemic, the current environment has created more predictable borrowing conditions for buyers.
That said, stable rates alone have not restored strong urgency in the market. Many buyers continue to evaluate affordability carefully before committing to a purchase.
Affordability Pressures
Affordability remains a major influence on buyer behaviour in today’s market. Higher home prices combined with borrowing costs mean many households remain cautious when entering the market.
As a result, buyers often:
- Stay within strict budget limits
- Compare properties more carefully
- Take additional time before submitting offers
This helps explain why demand remains present but more measured and selective than in previous market cycles.
Housing Taxes and Development Costs
Recent policy discussions in British Columbia have focused on how housing-related taxes may affect development costs and housing supply. Industry groups, including the BC Real Estate Association (BCREA), have raised concerns that several measures introduced in the 2026 provincial budget could increase the cost of building new homes.
Examples of these policy changes include:
- Higher school taxes on development land, which increase project costs
- Provincial sales tax (PST) applied to housing-related professional services, raising development soft costs.
- An increase in the Speculation and Vacancy Tax to 4% for foreign owners, which could affect investment in housing development.
Important to Note: These changes primarily affect development economics and long-term housing supply, rather than creating immediate shifts in day-to-day buyer behaviour in the resale market.
Changes to the BC Property Tax Deferral Program
Policy changes proposed in the 2026 British Columbia provincial budget may adjust how the Property Tax Deferment Program works for homeowners.
The program allows eligible homeowners, including seniors, people with disabilities, and some families with children, to defer paying annual property taxes as a loan secured against their home.
Currently, the program allows eligible homeowners to defer property taxes at interest rates tied to the prime rate or below, with simple interest that does not compound. Under the proposed changes, newly deferred taxes would instead accrue compound interest at the prime rate plus 2%.
Important to Note: These changes mainly affect how some homeowners manage ongoing carrying costs, rather than creating immediate shifts in buyer demand or resale market conditions.
Slower Housing Starts
Recent housing data shows that housing starts have slowed across Canada. Developers have become more cautious due to financing conditions, construction costs, and weaker demand for some types of new housing.
Important to note: While this slowdown may influence future housing supply, it does not significantly reduce the number of homes currently available in the resale market. For now, current market conditions are primarily shaped by existing inventory levels and buyer demand, rather than future construction activity.
What Does This All Mean for Sellers in North Vancouver?
Quick Answer: For sellers in North Vancouver, the real estate market update February 2026 highlights the importance of accurate pricing based on local market signals, strong presentation, and strategic positioning. With higher inventory and more selective buyers, homes that stand out early are more likely to attract interest and sell efficiently.
For sellers in North Vancouver, the February 2026 market conditions point to a more competitive environment than in recent years. With inventory levels elevated and buyers taking more time to evaluate their options, success in today’s market often comes down to pricing, preparation, and positioning.
Key takeaways for sellers:
- Buyers have more options. Higher inventory across Greater Vancouver means buyers can compare multiple listings before making a decision. Homes that do not stand out may take longer to attract attention.
- Accurate pricing matters more than ever. In an inventory-rich environment, buyers quickly recognize when a property is priced above comparable listings. Homes that are priced appropriately from the start are more likely to generate early interest.
- Preparation and presentation influence early momentum. Well-prepared homes often attract more showings and stronger buyer engagement.
- The first couple of weeks (7-14 days) on the market are the most critical. New listings typically receive the most attention shortly after launch. Sellers who enter the market well-positioned often have a better chance of capturing early demand.
- Serious buyers are still active. Even though buyers are taking more time to make decisions, demand has not disappeared. Well-priced homes that offer strong value relative to competing listings can still attract meaningful interest. For example, one of our recent listings in North Vancouver received an offer (which the seller ultimately accepted) in just three days!
Thinking About Selling in North Vancouver in 2026?
Every home and neighbourhood responds differently to changing market conditions. If you’re considering selling your home, understanding how current inventory levels, pricing trends, and buyer behaviour apply to your specific property can make a meaningful difference.
Jenny and Suzanne provide data-driven pricing guidance and strategic preparation advice to help North Vancouver sellers position their homes effectively in today’s market.
Contact Jenny + Suzanne to discuss your home and receive a personalized market evaluation.
Contact Us Online: https://jennyandsuzanne.ca/contact-us
Call Us: Jenny – 604-561-9802 | Suzanne – 604-230-9339