Connie McGinley

Highlights of Dexter’s July 2026 report

 

• Sales stabilized despite normal seasonal summer moderation

• Inventory continued tightening across Metro Vancouver

• World Cup distraction has come to an end

• Buyers continue to enjoy choice and opportunity

 

 

A Market Finding Its Footing Through Stability

 

Now that FIFA World Cup Soccer has come and gone, the distraction of the game can move to a different pitch – the real estate market. The weekly sales during the games dropped, more so in the City of Vancouver where the games and celebrations were centered. Even with soccer fun, July continued the story that has quietly been developing across Greater Vancouver throughout 2026, a real estate market that is becoming increasingly stable, predictable, and balanced. While seasonal slowing is evident in the monthly sales figures, the underlying fundamentals remain encouraging. Inventory is gradually tightening, new listings are slowing, and buyers continue to absorb available supply at a healthy pace. Rather than the volatility experienced over the past several years, today's market is exhibiting characteristics that create confidence for both buyers and sellers. And perhaps sets up for a fall where better engagement occurs, with home prices providing buyers with the best opportunities in years.

Greater Vancouver recorded 2,061 residential sales during July. While this represented a seasonal decline of 14% from June and 4% from May, the slowdown is consistent with normal summer market patterns as vacations, travel, and seasonal distractions naturally reduce transaction volume. More importantly, despite fewer sales, the market remains remarkably healthy when viewed alongside inventory trends and listing activity.

 

Greater Vancouver sales in July were 19% below the 10-year average, after June was 12% below the 10-year average, May was 27% below the 10-year average, April was 23% below the 10-year average, and March at 32% below the 10-year average. June’s active start in sales turned offside through the last half of June and into the first half of July with FIFA getting much more attention. Weekly sales showed an increase for the last two weeks of July even with the seasonal change in market activity.

 

Perhaps the most encouraging statistic this month is not sales, but supply. Active listings declined to 16,474 properties at month-end, down 3% from June and 4% compared to July of last year. After spending much of the past year discussing elevated inventory, July marks another month where available supply has continued to contract. Combined with a sharp decline in new listings, this suggests that the market is gradually working through existing inventory rather than becoming overwhelmed with additional supply.

 

New listings fell to 5,099 during July, a substantial 16% decline from June and 18% below May's total. Compared to July 2025, new listings were also down 11%. This reduction reflects growing discipline among sellers. Many homeowners appear comfortable waiting for the right market conditions rather than listing simply to test demand while others are reacting with list prices that are attracting buyers. As a result, inventory growth is moderating naturally.

 

The number of new listings in July were right at the 10-year average compared to June where they were 6% above the 10-year average, May at 1% above the 10-year average, April at 15% above the 10-year average and March at 5% above the 10-year average. Listing activity showed a noticeable decline when compared to previous months this year. Buyers take note, summer can be one of the best markets to find a home when other buyers are in vacation mode. But listing inventory will also start to decline, so take advantage of choice while at the peak.

 

The sales-to-listings ratio improved slightly to 40%, matching July of last year and strengthening from 34% in May. Although Greater Vancouver continues to sit within buyer's market territory at approximately eight months of inventory, the overall environment remains balanced in many areas and product types. Buyers continue to enjoy choice, while sellers benefit from an increasingly stable marketplace where well-priced homes continue to attract attention.

 

Stability Replaces Uncertainty

 

One of the defining characteristics of today's market is consistency. Earlier in the year, uncertainty surrounding interest rates, economic conditions, and consumer confidence created hesitation among many buyers and sellers. Those concerns have gradually given way to a more measured approach.

 

Instead of dramatic swings in inventory or transaction volume, most communities are now experiencing moderate adjustments month to month. This is exactly the type of environment that supports sustainable price stability and long-term confidence.

 

Rather than competing in multiple-offer situations or rushing purchasing decisions, buyers can evaluate properties carefully, complete inspections, negotiate terms, and purchase with confidence. At the same time, sellers who price their homes appropriately continue to achieve successful sales, particularly in neighbourhoods where inventory has begun to tighten.

 

 

Vancouver Sees Listings Decline

 

On the Westside, 362 homes sold during July. While sales moderated from June, active listings declined to 2,923 properties, approximately 11% below last year's level. New listings also declined significantly, falling 16% from June and 21% below May.

 

The result is a market where inventory is gradually becoming more manageable despite fewer sales. The sales-to-listings ratio held at a healthy 40%, demonstrating that buyer demand remains resilient in one of Canada's most sought-after housing markets.

 

Vancouver East continues to show particularly impressive resilience. Although sales eased to 244 transactions, activity remained slightly above July of last year. Inventory declined 6% from June while new listings dropped nearly 30%, one of the largest monthly reductions across Greater Vancouver.

 

With approximately seven months of inventory and a sales-to-listings ratio of 44%, Vancouver East remains firmly within balanced market conditions. Its improved affordability, diverse housing stock, and strong neighbourhood appeal continue to attract first-time buyers, move-up purchasers, and investors alike.

 

North Shore

 

North Vancouver's sales-to-listings ratio of 39% kept the submarket comfortably within balanced conditions, even as months of supply ticked up to 7. Limited land availability, desirable lifestyle amenities, and consistent buyer demand continue to support long-term market stability throughout North Vancouver. 

 

West Vancouver's ratio improved to 33% from 30% in June, continuing a steady climb from May's 20%, a clear multi-month trend of strengthening demand in the region's luxury segment. Although inventory remains elevated at approximately 13 months, active listings and new listings both declined significantly. This gradual tightening may help improve conditions within the luxury segment over the coming months.

 

Richmond Market Shows Subtle Improvement

 

Richmond continues to exhibit many of the same characteristics seen across the broader region. Sales moderated seasonally, yet inventory also declined and new listing activity slowed considerably.

 

Active listings were down 3% compared to last year, while new listings fell nearly 20% from June and 12% year-over-year. The sales-to-listings ratio improved to 40%, indicating that buyer activity continues to absorb available inventory at a healthy pace.

 

Burnaby Shows Improving Fundamentals

 

Burnaby North was the standout performer in the municipality, growing sales for a third straight month with a strong 43% sales-to-listings ratio, up from 39% in June. Burnaby South maintained the highest ratio of the three Burnaby submarkets at 47%, reflecting brisk absorption of available inventory despite a seasonal dip in transaction count. Burnaby East's months of supply held steady at 8, keeping conditions predictable for both buyers and sellers.

 

Overall, Burnaby continues to represent one of Greater Vancouver's strongest value propositions, combining excellent transportation infrastructure with comparatively attainable pricing.

 

New Westminster Steady

 

New Westminster held nearly steady with 84 sales, essentially flat compared to June, and a solid 36% sales-to-listings ratio, evidence of the kind of consistent, low-volatility demand that makes this submarket attractive for long-term planning.

 

Tri-Cities

 

Port Moody was the month's clear highlight, with sales jumping 24% over June and 19% over May. Its sales-to-listings ratio climbed to 40% from 32%, and months of supply improved to 7 from 9, a meaningful tightening. 

 

Coquitlam and Port Coquitlam both saw a natural pullback after exceptionally strong June results, but each maintained sales-to-listings ratios in the mid-to-high 30% range, keeping them within balanced market territory.

 

The Tri-Cities continue attracting families seeking larger homes with expanding infrastructure, and excellent long-term value within Metro Vancouver.

 

Maple Ridge & Pitt Meadows

 

Maple Ridge and Pitt Meadows both posted sales-to-listings ratios of 34% and 44% respectively, with Pitt Meadows' ratio remaining among the strongest in the eastern part of Metro Vancouver despite a lighter sales month — a reflection of consistently limited new supply meeting steady buyer interest.

 

South Delta

 

Tsawwassen posted the strongest sales-to-listings ratio in the entire region at 48%, up from 36% in May, underscoring robust demand relative to available inventory. Ladner's ratio of 46% likewise points to well-matched supply and demand, even as overall transaction counts moderated for the season. 

 

Fraser Valley Shows Steady Improvement

 

The Seasonal slowdown hit the Fraser Valley much like Vancouver, although month-over-month only down 5% compared to 14% for Greater Vancouver. But compared to last year, the Fraser Valley was similar to Greater Vancouver in total sales for July, being down 9%. There were 1,089 sales in July compared to 1,147 in June and 1,190 in July 2025. Perhaps FIFA Soccer created less of an impact on the Fraser Valley market, but it could also be a sign of an improving market in a region which has seen a steeper downturn.  

 

And like Greater Vancouver, new listings were down significantly in July, and active listings declined month-over-month, a typical seasonal trend. The result in the Fraser Valley left the region with 9 months of supply, a buyer’s market, compared to Greater Vancouver at 8. The detached market performed better than the townhouse and condo market in July when compared to June, with less decline in sales, although not as much of a decline in inventory. Year-over-year, new listings in townhouses were down 22% while condos saw a drop of 28%. A sign of a tightening market in the Valley.

 

Looking Ahead

 

July numbers reinforce a trend that has steadily developed throughout 2026. Rather than dramatic changes in market direction, Metro Vancouver continues progressing toward a healthier and more sustainable housing environment.

 

Inventory is no longer expanding rapidly, and going the other way. New listings are slowing. Buyers remain active despite seasonal fluctuations. Sales-to-listings ratios continue supporting stable market conditions across many communities, while balanced markets are becoming increasingly common throughout the region.

Perhaps most importantly, confidence appears to be returning. Buyers have adjusted to today's financing environment, while sellers have become increasingly realistic about pricing and market expectations. That combination is creating more successful transactions and a marketplace built on sound fundamentals rather than speculation.

 

As we move toward the traditionally active fall market, the current trends provide reasons for cautious optimism. If inventory continues tightening while buyer demand remains steady, many communities could continue transitioning from buyer's market conditions toward balanced markets over the coming months.

 

Here’s a summary of the numbers:

 

Greater Vancouver: Total Units Sold in July were 2,061, down from 2,390 (14%) in June, down from 2,150 (4%) in May, down from 2,110 (2%) in April, down from 2,286 (10%) in July 2025, down from 2,333 (12%) in July 2024, and down from 2,455 (16%) in July 2023; Active Listings were at 16,474 at month end compared to 17,168 at that time last year (down 4%) and 17,017 at the end of June (down 3%); the 5,099 New Listings in July were down 16% compared to June, down 18% compared to May, down 11% compared to July 2025, down 10% compared to July 2024 and up 7% compared to July 2023.

Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 40% compared to 39% in June, 34% in May, 40% in July 2025, 41% in July 2024 and 52% in July 2023. 

 

Vancouver Westside: Total Units Sold in July were 362, down from 420 (14%) in June, down from 414 (13%) in May, down from 365 (1%) in April, down from 396 (9%) in July 2025, down from 416 (13%) in July 2024, and down from 438 (17%) in July 2023; Active Listings were at 2,923 at month end compared to 3,279 at that time last year (down 11%) and 3,027 at the end of June (down 3%); the 914 New Listings in July were down 16% compared to June, down 21% compared to May, down 11% compared to July 2025, down 20% compared to July 2024 and down 11% compared to July 2023.

Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 40% compared to 39% in June, 36% in May, 39% in July 2025, 37% in July 2024 and 43% in July 2023. 

 

Vancouver East Side: Total Units Sold in July were 244, down from 287 (15%) in June, down from 267 (9%) in May, down from 258 (5%) in April, up from 242 (1%) in July 2025, down from 263 (7%) in July 2024, and down from 286 (15%) in July 2023; Active Listings were at 1,681 at month end compared to 1,737 at that time last year (down 3%) and 1,783 at the end of June (down 6%); the 553 New Listings in July were down 29% compared to June, down 22% compared to May, down 9% compared to July 2025, down 7% compared to July 2024 and up 9% compared to July 2023.

Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 44% compared to 37% in June, 38% in May, 40% in July 2025, 44% in July 2024 and 57% in July 2023.

 

North Vancouver: Total Units Sold in July were 153, down from 213 (14%) in June, down from 223 (4%) in May, down from 178 (2%) in April, down from 190 (10%) in July 2025, down from 201 (12%) in July 2024, and down from 185 (16%) in July 2023; Active Listings were at 1,001 at month end compared to 1,029 at that time last year (down 3%) and 1,057 at the end of June (down 5%); the 394 New Listings in July were down 15% compared to June, down 30% compared to May, down 15% compared to July 2025, down 31% compared to July 2024 and up 27% compared to July 2023.

Month’s supply of total residential listings is up to 7 months from 5 (balanced market conditions) and sales to listings ratio of 39% compared to 46% in June, 40% in May, 41% in July 2025, 47% in July 2024 and 59% in July 2023.

 

West Vancouver: Total Units Sold in July were 54, down from 61 (11%) in June, up from 45 (20%) in May, up from 51 (6%) in April, down from 62 (13%) in July 2025, down from 59 (8%) in July 2024, and up from 47 (15%) in July 2023; Active Listings were at 684 at month end compared to 747 at that time last year (down 8%) and 723 at the end of June (down 5%); the 163 New Listings in July were down 21% compared to June, down 26% compared to May, down 22% compared to July 2025, down 24% compared to July 2024 and down 12% compared to July 2023.

Month’s supply of total residential listings is up to 13 months from 12 (buyer’s market conditions) and sales to listings ratio of 33% compared to 30% in June, 20% in May, 30% in July 2025, 27% in July 2024 and 25% in July 2023.

 

Richmond: Total Units Sold in July were 227, down from 262 (13%) in June, the same as May, down from 245 (7%) in April, down from 241 (6%) in July 2025, down from 255 (11%) in July 2024, and down from 294 (23%) in July 2023; Active Listings were at 2,079 at month end compared to 2,143 at that time last year (down 3%) and 2,117 at the end of June (down 2%); the 562 New Listings in July were down 19% compared to June, down 13% compared to May, down 12% compared to July 2025, down 12% compared to July 2024 and up 4% compared to July 2023.

Month’s supply of total residential listings is up to 9 months from 8 (buyer’s market conditions) and sales to listings ratio of 40% compared to 38% in June, 35% in May, 38% in July 2025, 40% in July 2024 and 54% in July 2023.

 

Burnaby East: Total Units Sold in July were 22, down from 25 (12%) in June, up from 19 (16%) in May, down from 30 (27%) in April, down from 30 (27%) in July 2025, down from 33 (33%) in July 2024, and down from 25 (12%) in July 2023; Active Listings were at 183 at month end compared to 236 at that time last year (down 22%) and 190 at the end of June (down 4%); the 69 New Listings in July were down 5% compared to June, down 7% compared to May, down 17% compared to July 2025, up 10% compared to July 2024 and up 77% compared to July 2023.

Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 32% compared to 34% in June, 26% in May, 36% in July 2025, 52% in July 2024 and 64% in July 2023.

 

Burnaby North: Total Units Sold in July were 135, up from 131 (3%) in June, up from 121 (12%) in May, the same as April, down from 164 (18%) in July 2025, down from 137 (1%) in July 2024, and down from 160 (16%) in July 2023; Active Listings were at 925 at month end compared to 946 at that time last year (down 2%) and 956 at the end of June (down 3%); the 311 New Listings in July were down 7% compared to June, down 15% compared to May, down 15% compared to July 2025, down 22% compared to July 2024 and up 7% compared to July 2023.

Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 43% compared to 39% in June, 33% in May, 45% in July 2025, 35% in July 2024 and 55% in July 2023.

 

Burnaby South: Total Units Sold in July were 118, down from 146 (19%) in June, up from 92 (28%) in May, up from 92 (28%) in April, down from 142 (17%) in July 2025, down from 140 (16%) in July 2024, and down from 139 (15%) in July 2023; Active Listings were at 853 at month end compared to 835 at that time last year (up 2%) and 883 at the end of June (down 3%); the 253 New Listings in July were down 19% compared to June, down 14% compared to May, down 15% compared to July 2025, down 9% compared to July 2024 and up 7% compared to July 2023.

Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 47% compared to 46% in June, 31% in May, 48% in July 2025, 50% in July 2024 and 59% in July 2023.

 

New Westminster: Total Units Sold in July were 84, down from 87 (3%) in June, down from 86 (2%) in May, down from 86 (2%) in April, down from 99 (15%) in July 2025, down from 98 (14%) in July 2024, and down from 119 (29%) in July 2023; Active Listings were at 648 at month end compared to 633 at that time last year (up 2%) and 651 at the end of June (down 0.2%); the 231 New Listings in July were down 10% compared to June, down 5% compared to May, down 2% compared to July 2025, up 11% compared to July 2024 and up 25% compared to July 2023.

Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 36% compared to 34% in June, 35% in May, 42% in July 2025, 47% in July 2024 and 64% in July 2023.

 

Coquitlam: Total Units Sold in July were 187, down from 254 (26%) in June, up from 165 (13%) in May, up from 183 (2%) in April, down from 205 (9%) in July 2025, up from 178 (5%) in July 2024, and down from 223 (16%) in July 2023; Active Listings were at 1,316 at month end compared to 1,349 at that time last year (down 2%) and 1,350 at the end of June (down 3%); the 488 New Listings in July were down 7% compared to June, down 12% compared to May, down 3% compared to July 2025, down 3% compared to July 2024 and up 20% compared to July 2023.

Month’s supply of total residential listings is up to 7 months from 5 (balanced market conditions) and sales to listings ratio of 38% compared to 48% in June, 30% in May, 41% in July 2025, 35% in July 2024 and 55% in July 2023.

 

Port Moody: Total Units Sold in July were 57, up from 46 (24%) in June, up from 48 (19%) in May, up from 54 (6%) in April, down from 66 (14%) in July 2025, down from 58 (2%) in July 2024, and down from 85 (33%) in July 2023; Active Listings were at 380 at month end compared to 376 at that time last year (up 1%) and 395 at the end of June (down 4%); the 143 New Listings in July were up 1% compared to June, down 22% compared to May, down 11% compared to July 2025, up 28% compared to July 2024 and up 29% compared to July 2023.

Month’s supply of total residential listings is down to 7 months from 9 (balanced market conditions) and sales to listings ratio of 40% compared to 32% in June, 26% in May, 41% in July 2025, 52% in July 2024 and 77% in July 2023.

 

Port Coquitlam: Total Units Sold in July were 57, down from 62 (8%) in June, down from 67 (36%) in May, down from 60 (5%) in April, down from 85 (33%) in July 2025, down from 66 (14%) in July 2024, and down from 73 (22%) in July 2023; Active Listings were at 424 at month end compared to 357 at that time last year (up 19%) and 423 at the end of June; the 170 New Listings in July were up 2% compared to June, down 11% compared to May, up 15% compared to July 2025, up 4% compared to July 2024 and up 39% compared to July 2023.

Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 34% compared to 37% in June, 35% in May, 57% in July 2025, 40% in July 2024 and 60% in July 2023.

 

Pitt Meadows: Total Units Sold in July were 24, down from 26 (8%) in June, down from 29 (17%) in May, down from 30 (20%) in April, down from 25 (4%) in July 2025, down from 27 (11%) in July 2024, and the same as July 2023; Active Listings were at 148 at month end compared to 139 at that time last year (up 6%) and 160 at the end of June (down 7%); the 54 New Listings in July were down 23% compared to June, down 5% compared to May, down 12% compared to July 2025, down 24% compared to July 2024 and up 17% compared to July 2023.

Month’s supply of total residential listings is steady at 6 (balanced market conditions) and sales to listings ratio of 44% compared to 37% in June, 50% in May, 40% in July 2025, 38% in July 2024 and 52% in July 2023.            

 

Maple Ridge: Total Units Sold in July were 109, down from 122 (11%) in June, down from 110 (1%) in May, down from 117 (7%) in April, down from 122 (11%) in July 2025, down from 166 (34%) in July 2024, and down from 143 (24%) in July 2023; Active Listings were at 949 at month end compared to 1,033 at that time last year (down 8%) and 939 at the end of June (up 1%); the 320 New Listings in July were up 8% compared to June, up 1% compared to May, down 9% compared to July 2025, down 6% compared to July 2024 and up 12% compared to July 2023.

Month’s supply of total residential listings is up to 9 months from 8 (buyer’s market conditions) and sales to listings ratio of 34% compared to 41% in June, 34% in May, 34% in July 2025, 48% in July 2024 and 50% in July 2023.

 

Ladner: Total Units Sold in July were 21, down from 27 (22%) in June, down from 28 (25%) in May, down from 33 (36%) in April, down from 36 (42%) in July 2025, down from 31 (32%) in July 2024, and down from 26 (19%) in July 2023; Active Listings were at 186 at month end compared to 172 at that time last year (up 8%) and 196 at the end of June (down 5%); the 46 New Listings in July were down 23% compared to June, down 28% compared to May, down 36% compared to July 2025, down 13% compared to July 2024 and down 21% compared to July 2023.

Month’s supply of total residential listings is up to 9 months from 7 (buyer’s market conditions) and sales to listings ratio of 46% compared to 45% in June, 44% in May, 50% in July 2025, 58% in July 2024 and 45% in July 2023.

 

Tsawwassen: Total Units Sold in July were 43, down from 48 (10%) in June, up from 38 (13%) in May, up from 34 (26%) in April, up from 30 (43%) in July 2025, down from 45 (4%) in July 2024, and up from 33 (30%) in July 2023; Active Listings were at 329 at month end compared to 347 at that time last year (down 5%) and 339 at the end of June (down 3%); the 90 New Listings in July were down 10% compared to June, down 15% compared to May, down 20% compared to July 2025, up 27% compared to July 2024 and up 41% compared to July 2023.

Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 48% compared to 48% in June, 36% in May, 27% in July 2025, 63% in July 2024 and 52% in July 2023.

 

Fraser Valley: Total Units Sold in July were down 5% at 1,089 compared to June at 1,147 and were down 9% from July 2025 at 1,190. New listings were down 14% at 2,836 from June at 3,303 and down 18% from July 2025 at 3,453. The average price of $940,355 was down 1.5% month-over-month and was down 5.5% year-over-year. Active listings at 10,044 were down 3% compared to last month at 10,377 and down 6% from July 2025 at 10,650.

Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions).