Residential sales in British Columbia saw a decline in August compared to the previous year, according to the latest report from the British Columbia Real Estate Association (BCREA). Despite this, the real estate market in the province continues its path to recovery.
In August, a total of $5.2 billion worth of homes were sold, marking a 4.8% decrease from August 2025 and a significant 25.4% drop below the 10-year average for the month. BCREA’s chief economist, Brendon Ogmundson, stated that while provincial home sales are still below long-term averages, there has been consistent improvement throughout the year.
Ogmundson added, “We anticipate a gradual rebound in sales momentum, although uncertainties such as new tariffs and rising long-term interest rates present some risks to this outlook.”
The average listing price for homes province-wide stood at $924,826, showing a slight 1% decrease from the previous year. Unit sales were also down by 5.5% compared to the same period last year, with a total of 46,069 homes changing ownership.
In Greater Vancouver, the average listing price was $1,213,418, a decrease of approximately 1.3% year-over-year. The region saw a total of 1,869 units sold, representing a 3.6% drop from August 2025.
Moving to the Fraser Valley, the average home price was $949,354, down by 4.7%, while in Chilliwack, it increased by 1.5% to reach $746,289.
Overall, the figures for 2026 show that $43.26 billion worth of residential properties have been sold so far, reflecting a 6.5% decline compared to the same period in the previous year.
