Lower Mainland Real Estate Market Update: June 2026

May 2026 brought renewed activity to the Lower Mainland market after a slower start to the year. Greater Vancouver REALTORS® reported 2,741 residential sales — up 8.2% from April and 3.5% above the 10-year seasonal average.

The benchmark price for a detached home across the region sits at $2,087,500, essentially flat year-over-year (+0.4%). Apartments remain the most active segment, with a benchmark of $768,900 (+2.1% YoY) as buyers seek more attainable price points.

The sales-to-active listings ratio for the overall market is 16.8%, sitting in balanced-market territory (below 12% favours buyers; above 20% favours sellers). Detached homes are firmly in buyer's market conditions at 11.2%, while apartments are trending toward sellers at 22.1%.

Inventory has been building steadily since February, giving buyers more choice than they've had in two years. If you've been sitting on the sidelines, now is a good time to get pre-approved and start your search — selection is better and negotiating room exists in many segments.

Looking ahead, the Bank of Canada's next rate decision on July 9 will be closely watched. Markets are pricing in a 25 bps cut, which would bring the overnight rate to 2.50% and push mortgage rates lower — potentially re-igniting demand heading into the fall.