Lower Mainland weakness pulls B.C. home sales down 6.7% in July

B.C. home sales fell 6.7% from a year earlier in July as continued weakness in the Lower Mainland outweighed monthly gains across most other regions, according to the British Columbia Real Estate Association.

A total of 6,561 residential properties changed hands through the province’s MLS systems, down from 7,032 in July 2025. Sales were also 18.8% below the 10-year average for the month.

The average residential price declined 1.3% year over year to $929,619, while total sales volume fell 7.9% to $6.1 billion.

“Seasonally adjusted sales activity rose from the previous month across most of BC, while weaknesses remained concentrated in the Lower Mainland,” said BCREA chief economist Brendon Ogmundson.

Lower Mainland leads sales declines

Greater Vancouver recorded 2,061 sales in July, down 9.4% from a year earlier, while its average price declined 2.2% to $1.21 million.

Sales in the Fraser Valley fell 7.3% to 1,025 units, accompanied by a 5.8% drop in the average price to $964,108. Chilliwack recorded one of the largest sales declines in the province, with transactions falling 14.2% to 181, although its average price rose 1.7% to $768,129.

Activity was also weaker on Vancouver Island. Sales outside Victoria declined 12.4% from a year earlier, while Victoria recorded a 1.7% decrease.

Results were more mixed across the Interior. Okanagan sales fell 5.2%, but the region’s average price increased 8.2% to $806,810. Sales rose 2.6% in the Kootenay region and 26.2% in South Peace, although the latter represented just 53 transactions.

Provincewide active listings fell 4.5% year over year to 45,159. The sales-to-active-listings ratio was 14.5%, little changed from 14.9% in July 2025.

Ogmundson said BCREA expects economic resilience and a recovering labour market to help regional housing markets move closer to their long-term averages over the next year.

Through the first seven months of 2026, 40,432 homes were sold across B.C., down 5.6% from the same period last year. The year-to-date average price declined 1.2% to $940,948, while total dollar volume fell 6.7% to $38.04 billion.

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Last modified: August 13, 2026