Metro Vancouver’s housing market opened 2026 with a clear shift in momentum: more homes are hitting the market, fewer are selling, and buyers are taking their time.
According to the data analyzed by real estate brokerage and online platform HouseSigma, just 1,470 homes changed hands in January 2026, marking a steep pullback in activity. Sales fell by roughly 30 per cent compared with December 2025 and were also down by a similar margin from a year earlier, which shows how cautious buyers have become at the start of the year.
At the same time, sellers moved in the opposite direction. More than 7,100 new listings were added in January 2026, a sharp jump from December 2025, as many homeowners rushed to test the market after the holidays. The result is a widening gap between supply and demand — one that’s beginning to show up clearly in how long properties are sitting unsold.
The number of “property days on market” — a measure that accounts for relisted homes — climbed to an average of 100 days in January 2026. That is the highest level recorded in the recent data and a continuation of a steady upward trend that’s been building since late Summer 2025. Back in August 2025, homes were taking roughly 75 days to sell by this measure; each month since then, the timeline has stretched longer, reaching triple digits at the start of the new year.
Even the standard “days on market” metric, which tracks the time a listing stays active before selling, has pushed past 50 days, up from around 40 days in late Summer 2025 and early Fall 2025. In practical terms, that means sellers are waiting weeks longer for offers, while buyers have more breathing room to shop around, compare options, and negotiate.
Despite the slowdown in sales and the growing pile of listings, home prices have not fallen dramatically — at least not yet. The median sale price across all home types dipped just 0.8 per cent month-over-month to $868,000 in January 2026. That relatively modest decline suggests the market is cooling through activity and timing rather than through sharp price corrections.
Breaking the numbers down by property type shows a similar story: single-family detached houses, townhomes, and condominium home segments have all seen softer sales volumes, while inventory continues to build. The imbalance is giving buyers more choice, but it has not yet forced widespread discounting.
January 2026 looked less like a panic and more like a pause. With buyers stepping back and sellers stepping forward, listings are stacking up and stretching out selling timelines. The early spring market will likely be the next big test: either demand returns as prospective homebuyers re-enter after the winter lull, or sellers may start adjusting expectations if homes continue to linger.
According to HouseSigma, the market feels more like a “standoff” than a slide. Buyers are cautious, sellers are still hopeful, and prices are holding in a narrow range — for now.
