The latest data on the British Columbia real estate sector reveals a continuous decline in November sales, reflecting a challenging year for the market.
According to the BC Real Estate Association (BCREA), both the number of sales and the average selling price saw a decrease last month compared to the same period last year.
In November, the association’s ‘Multiple Listings Service’ (MLS) recorded only 5,052 transactions.
The report stated, “Total MLS residential sales dollar volume reached $4.9 billion, marking a 14.5% decrease from the previous year. Additionally, BC MLS unit sales dropped by 24.9%, falling below the ten-year average for November.”
Sales dipped across all regions, falling even lower than historical norms.
Year-to-date figures show a total home sales value of $62.9 billion, an 8% decline from 2024.
Meanwhile, a focused report on a specific segment of the market predicts continued soft conditions in the first half of the upcoming year.
RE/MAX released its 2026 Canadian Condominium Report, projecting 2026 as a transitional period as prospective homebuyers prepare for a promising 2027.
In the words of RE/MAX President Don Kottick, “For financially ready first-time buyers or those looking to upsize, 2026 offers a unique chance to enter the market at a lower price point. This opportunity is expected to last approximately six months before inventory levels tighten.”
On a national scale, condo sales saw a significant drop in the first ten months of the year compared to 2024.
According to RE/MAX, Fraser Valley witnessed a condo sales decline of over 20%, while Greater Vancouver experienced an 11% decrease. Prices in these regions reportedly fell between six to seven percent.
Certain areas in British Columbia, such as Squamish, Whistler, Pemberton, and Mission, surpassed the broader market performance.