As Supply Tightens, Momentum Builds

Highlights of Dexter’s August 2026 report

• Inventory tightened as August sales slowed seasonally

• Sales-to-listings ratios improved across Metro Vancouver

• Several communities moved toward balanced market conditions

• Tighter supply creates a stronger fall outlook
  

A More Balanced Market Takes Shape

August brought the typical seasonal slowdown to the Metro Vancouver real estate market, but the numbers beneath the headline sales figures tell a more encouraging story. While overall sales declined from the stronger spring and early-summer months, inventory also contracted, new listings slowed considerably, and the proportion of properties finding buyers improved. Real estate continued to sell, with more balance in a month that on the surface appeared to be slower.

The result is a market that continues to provide buyers with choice and negotiating power, but one that is gradually becoming more balanced and, in several communities, noticeably more competitive.

Across Greater Vancouver, 1,869 residential properties sold in August, down 8% from July's 2,061 sales and 22% from June's 2,390. Sales were also 5% below August 2025, 2% below August 2024 and 19% below August 2023. While these year-over-year comparisons show that overall activity remains below the levels of several previous years, August's decline needs to be viewed in the context of the normal summer slowdown. And here’s a “but” and a rather big one: sales in August 2012 were 1,670 in Greater Vancouver. For all the calamity that is happening right now, it’s still not that bad. 

Two bright spots need attention as well. The Canadian economy performed better than expected in the second quarter with the Bank of Canada forecasting improvement in 2027 and 2028. This followed by the Bank of Canada maintaining its rate at 2.25 per cent at the September meeting, kept variable mortgage rates at their current levels. Buyers have more certainty about their mortgage costs, even with fixed rates showing some increases. As a result, most buyers are taking the variable rate mortgage. Expect that to continue in the fall which will help bring buyers and thus real estate transactions into the market.

Greater Vancouver sales in August were 21% below the 10-year average, after July was 19% below the 10-year average, 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. It’s hard to put stock into sales levels in August with all the headlines out there. Those moves can only be held off so long and the pent-up demand continues to grow. 

More importantly, the supply side of the market continues to tighten. One of the defining characteristics of the August market was the relationship between sales and new listings.

Active listings ended August at 15,798, down 4% from July and 3% from the same time last year. New listings fell even more sharply, with 4,171 properties coming to market, 9% fewer than July, 31% fewer than June and 3% fewer than August 2025.

This reduction in new inventory is an important development. It means that while buyers continue to have plenty of choice, the supply of properties competing for their attention is no longer expanding.

The sales-to-listings ratio increased to 45% in August, up from 40% in July and 39% in June. That improvement indicates that buyers who are active in today's market are becoming more decisive.

Greater Vancouver remains in a buyer's market at eight months of supply, but the direction of the underlying numbers suggests that the market is gradually moving toward greater balance.

Sales declined, but new listings declined even faster. This is important because market balance is determined not simply by how many properties sell, but by how much new supply enters the market relative to buyer demand.

The number of new listings in August were 1.5% below the 10-year average, after July was right at the 10-year average, June at 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. A significant change in listing trajectory has occurred. 

The Market Is Finding Its Rhythm

The 45% sales-to-listings ratio is the highest monthly figure in 2025. It is also equal to August 2025 and August 2024.

This suggests that the market is not experiencing a sudden surge in demand, but it is becoming more efficient at absorbing available inventory.

For buyers, this remains a favourable environment. There is still substantial choice across much of the region, and sellers generally need to be realistic about pricing and presentation.

For sellers, however, the market is becoming more encouraging. The steady reduction in active and new listings means that well-priced properties have less competition than they did earlier in the year. That could become increasingly important as we move into the fall. Something many buyers may want to take note of instead of using the wait and see approach.

Vancouver Market in Near Balance Territory

Vancouver Westside continued to show signs of improving balance. There were 349 sales in August, down 4% from July and 8% from August 2025, but sales were actually 4% higher than August 2024.

Active listings fell to 2,790, down 5% from July and a significant 10% from the same time last year. New listings declined 14% from July and 28% from June.

The East Side recorded 204 sales in August, down 16% from July and 7% from August 2025, but 6% higher than August 2024.

Active listings declined to 1,589, down 5% from July and 1% from a year earlier. New listings fell 20% from July and 4% year-over-year.

Overall, in Vancouver, months of supply sit at 8, mostly due to the seasonality of August sales. Expect inventory to continue to tighten as we move through the fall, especially in the detached segment.

North Shore Absorption Improves

North Vancouver's sales-to-listings ratio jumped to 47% from 39% in July, a meaningful tightening that reflects strong absorption of the 296 new listings that came to market. West Vancouver's ratio also improved, rising to 36% from 33%, continuing its steady climb over the summer and pointing to firming demand in the region's luxury segment even as overall transaction counts there remain modest

Richmond Shows Improvement

Richmond posted 221 sales in August with a sales-to-listings ratio of 48%, up meaningfully from 40% which was one of the strongest readings of any large submarket in the region. With new listings down 17% from July, the market did a notably efficient job matching the available supply with buyer demand.

That improvement in absorption is one of the more encouraging developments in Richmond and could help create a more balanced environment as we move into the fall.

Burnaby East Vastly Improved

Burnaby East was a standout, growing sales 18% over July to reach 26 units, with its sales-to-listings ratio surging to 46% from 32%, a genuinely strong month. Burnaby North and Burnaby South both saw modest pullbacks in transaction volume, which is typical of the season, but their ratios of 39% and 44% respectively remain solidly within healthy territory, with Burnaby South continuing to rank among the most active submarkets in the region for absorption of new inventory.

New Westminster Steady

New Westminster held largely steady with 77 sales and an improving sales-to-listings ratio of 39%, up from 36% in July. This kind of low-volatility, consistent demand continues to make the submarket an attractive, predictable market for both buyers and sellers. But one with more opportunity.

Tri-Cities Stood Out

This was arguably the standout region of the month. Port Coquitlam's sales-to-listings ratio nearly doubled to 66% from 34% in July, while months of supply tightened to 6 from 7, a striking shift toward tighter conditions. Port Moody's ratio climbed to 47% from 40%, supported by sales that were up compared to both June and August for the last 2 years. Coquitlam saw a natural pullback in transaction volume after an exceptionally strong summer run, but even there, a 34% sales-to-listings ratio keeps the submarket within reasonable balance.

Maple Ridge & Pitt Meadows

Maple Ridge's sales-to-listings ratio rose to 46% from 34% in July, a strong improvement even as sales volume moderated. Pitt Meadows was the story of the month region-wide: sales rose 29% over July to 31 units, months of supply fell to just 4, and the sales-to-listings ratio hit a remarkable 100%, full seller's market conditions in a submarket that had been balanced just a month earlier. It's a clear sign of just how quickly local conditions can tighten when listings pull back and buyer interest holds increases.

South Delta

South Delta delivered some of the strongest readings anywhere in Greater Vancouver this month. Ladner's sales rose 38% over July to 29 units, and its sales-to-listings ratio climbed to a robust 63% from 46%. Tsawwassen's ratio reached 66%, up from 48% in July, even as sales eased slightly, again showing that a lighter new-listing count can translate directly into a much tighter, more seller-favourable market.

Fraser Valley Shows Showed a Significant Change

For only the second time since the beginning of 2025, the Fraser Valley market showed a year-over-year gain in montly sales. Not a small feat considering the struggles this market has seen. With the seasonal slowdown in sales though, months of supply ticked up to 10 from 9 months in July. The pool of buyers being more active than they were last year but still has the luxury of choice and opportunity, but that is diminishing. New listings in August were down 15% year-over-year while active listings are down 6% compared to August 2025. 

The detached market once again outperformed the townhome and condo market in August with both townhome and condo sales below the levels seen in August 2025. But with 22% fewer townhome listings in August, this segment is tightening with only 6 months of supply and planting it firmly in balanced market territory compared to detached and condos which sit in a buyer’s market.

A Positive Set Up for the Fall

Greater Vancouver heads into the fall market with genuinely constructive underlying conditions. While headline sales volume eased in line with typical August seasonality, the sharp, broad-based improvement in sales-to-listings ratios, culminating in seller's market conditions in Pitt Meadows and near-seller's-market readings in Port Coquitlam, Ladner, and Tsawwassen which suggests that buyer demand is proving resilient even with fewer new options coming to market. As new listings typically rebound heading into September and October, sellers who bring well-priced homes to a market this efficient should find a receptive audience, while buyers still benefit from a region-wide buyer's market designation and listing supply that remains healthy in absolute terms. All told, August's data points to a market gathering quiet strength beneath a seasonally quiet surface, a solid foundation for what's shaping up to be an active autumn across Greater Vancouver.

Here’s a summary of the numbers

Greater Vancouver: Total Units Sold in August were 1,869, down from 2,061 (8%) in July, down from 2,390 (22%) in June, down from 1,959 (5%) in August 2025, down from 1,903 (2%) in August 2024, and down from 2,296 (19%) in August 2023; Active Listings were at 15,798 at month end compared to 16,242 at that time last year (down 3%) and 16,476 at the end of July (down 4%); the 4,171 New Listings in August were down 9% compared to July, down 31% compared to June, down 3% compared to August 2025, down 1% compared to August 2024 and up 4% compared to August 2023.

Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 45% compared to 40% in July, 39% in June, 45% in August 2025, 45% in August 2024 and 57% in August 2023. 

Vancouver Westside: Total Units Sold in August were 349, down from 362 (4%) in July, down from 420 (17%) in June, down from 381 (8%) in August 2025, up from 337 (4%) in August 2024, and down from 433 (19%) in August 2023; Active Listings were at 2,790 at month end compared to 3,105 at that time last year (down 10%) and 2,923 at the end of July (down %5); the 783 New Listings in August were down 14% compared to July, down 28% compared to June, up 2% compared to August 2025, down 2% compared to August 2024 and down 5% compared to August 2023.

Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 45% compared to 40% in July, 39% in June, 50% in August 2025, 44% in August 2024 and 53% in August 2023.

Vancouver East Side: Total Units Sold in August were 204, down from 244 (16%) in July, down from 287 (29%) in June, down from 219 (7%) in August 2025, up from 193 (6%) in August 2024, and down from 250 (18%) in August 2023; Active Listings were at 1,589 at month end compared to 1,599 at that time last year (down 1%) and 1,681 at the end of July (down 5%); the 443 New Listings in August were down 20% compared to July, down % c43ompared to June, down 4% compared to August 2025, down 3% compared to August 2024 and up 16% compared to August 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 46% compared to 44% in July, 37% in June, 48% in August 2025, 42% in August 2024 and 66% in August 2023.

North Vancouver: Total Units Sold in August were 138, down from 153 (10%) in July, down from 213 (35%) in June, down from 139 (1%) in August 2025, down from 145 (5%) in August 2024, and down from 160 (14%) in August 2023; Active Listings were at 927 at month end compared to 938 at that time last year (down 1%) and 1,001 at the end of July (down 7%); the 296 New Listings in August were down 25% compared to July, down 36% compared to June, down 3% compared to August 2025, down 35% compared to August 2024 and up 16% compared to August 2023.

Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 47% compared to 39% in July, 46% in June, 46% in August 2025, 54% in August 2024 and 63% in August 2023.

West Vancouver: Total Units Sold in August were 52, down from 54 (4%) in July, down from 61 (15%) in June, up from 43 (21%) in August 2025, down from 57 (9%) in August 2024, and down from 57 (9%) in August 2023; Active Listings were at 674 at month end compared to 717 at that time last year (down 6%) and 684 at the end of July (down 1%); the 146 New Listings in August were down 10% compared to July, down 29% compared to June, up 4% compared to August 2025, up 7% compared to August 2024 and down 1% compared to August 2023.

Month’s supply of total residential listings is steady at 13 months (buyer’s market conditions) and sales to listings ratio of 36% compared to 33% in July, 30% in June, 31% in August 2025, 42% in August 2024 and 39% in August 2023.

Richmond: Total Units Sold in August were 221, down from 227 (3%) in July, down from 262 (16%) in June, down from 223 (1%) in August 2025, up from 191 (16%) in August 2024, and down from 319 (31%) in August 2023; Active Listings were at 2,005 at month end compared to 2,129 at that time last year (down 6%) and 2,079 at the end of July (down 4%); the 465 New Listings in August were down 17% compared to July, down 33% compared to June, down 17% compared to August 2025, down 14% compared to August 2024 and down 7% compared to August 2023.

Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions) and sales to listings ratio of 48% compared to 40% in July, 38% in June, 40% in August 2025, 35% in August 2024 and 64% in August 2023.

Burnaby East: Total Units Sold in August were 26, up from 22 (18%) in July, up from 25 (4%) in June, up from 21 (24%) in August 2025, up from 25 (4%) in August 2024, and down from 31 (16%) in August 2023; Active Listings were at 169 at month end compared to 229 at that time last year (down 26%) and 183 at the end of July (down 8%); the 56 New Listings in August were down 19% compared to July, down 23% compared to June, down 12% compared to August 2025, up 14% compared to August 2024 and up 47% compared to August 2023.

Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 46% compared to 32% in July, 34% in June, 33% in August 2025, 51% in August 2024 and 31% in August 2023.

Burnaby North: Total Units Sold in August were 106, down from 135 (21%) in July, down from 131 (19%) in June, down from 115 (8%) in August 2025, down from 145 (27%) in August 2024, and down from 139 (24%) in August 2023; Active Listings were at 935 at month end compared to 883 at that time last year (up 6%) and 925 at the end of July (up 1%); the 275 New Listings in August were down 12% compared to July, down 18% compared to June, up 7% compared to August 2025, down 6% compared to August 2024 and up 6% compared to August 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 39% compared to 43% in July, 39% in June, 45% in August 2025, 49% in August 2024 and 54% in August 2023.

Burnaby South: Total Units Sold in August were 102, down from 118 (14%) in July, down from 146 (30%) in June, down from 103 (1%) in August 2025, down from 112 (9%) in August 2024, and down from 133 (23%) in August 2023; Active Listings were at 837 at month end compared to 811 at that time last year (up 3%) and 853 at the end of July (down 2%); the 232 New Listings in August were down 8% compared to July, down 26% compared to June, up 5% compared to August 2025, up 5% compared to August 2024 and up 9% compared to August 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 44% compared to 47% in July, 46% in June, 50% in August 2025, 51% in August 2024 and 62% in August 2023.

New Westminster: Total Units Sold in August were 77, down from 84 (8%) in July, down from 87 (11%) in June, up from 73 (5%) in August 2025, down from 79 (3%) in August 2024, and down from 87 (11%) in August 2023; Active Listings were at 624 at month end compared to 607 at that time last year (up 3%) and 648 at the end of July (down 4%); the 200 New Listings in August were down 13% compared to July, down 22% compared to June, up 6% compared to August 2025, up 41% compared to August 2024 and up 29% compared to August 2023.

Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 39% compared to 36% in July, 34% in June, 39% in August 2025, 56% in August 2024 and 56% in August 2023.

Coquitlam: Total Units Sold in August were 150, down from 187 (20%) in July, down from 254 (41%) in June, down from 164 (9%) in August 2025, down from 171 (12%) in August 2024, and down from 203 (26%) in August 2023; Active Listings were at 1,295 at month end compared to 1,280 at that time last year (up 1%) and 1,316 at the end of July (down 2%); the 447 New Listings in August were down 8% compared to July, down 15% compared to June, up 6% compared to August 2025, up 6% compared to August 2024 and up 52% compared to August 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 34% compared to 38% in July, 48% in June, 39% in August 2025, 41% in August 2024 and 69% in August 2023.

Port Moody: Total Units Sold in August were 50, down from 57 (12%) in July, up from 46 (9%) in June, up from 46 (9%) in August 2025, up from 39 (28%) in August 2024, and down from 58 (14%) in August 2023; Active Listings were at 364 at month end compared to 332 at that time last year (up 10%) and 380 at the end of July (down 4%); the 106 New Listings in August were down 26% compared to July, down 25% compared to June, up25% compared to August 2025, up 18% compared to August 2024 and up 38% compared to August 2023.

Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 47% compared to 40% in July, 32% in June, 54% in August 2025, 43% in August 2024 and 75% in August 2023.

Port Coquitlam: Total Units Sold in August were 60, up from 57 (5%) in July, down from 62 (3%) in June, up from 46 (30%) in August 2025, up from 56 (7%) in August 2024, and down from 69 (13%) in August 2023; Active Listings were at 384 at month end compared to 354 at that time last year (up 8%) and 424 at the end of July (down 9%); the 91 New Listings in August were down 46% compared to July, down 46% compared to June, down 25% compared to August 2025, down 11% compared to August 2024 and down 21% compared to August 2023.

Month’s supply of total residential listings is down to 6 months from 7 (balanced market conditions) and sales to listings ratio of 66% compared to 34% in July, 37% in June, 38% in August 2025, 55% in August 2024 and 60% in August 2023.

Pitt Meadows: Total Units Sold in August were 31, up from 24 (29%) in July, up from 26 (19%) in June, up from 19 (63%) in August 2025, up from 21 (48%) in August 2024, and up from 23 (35%) in August 2023; Active Listings were at 128 at month end compared to 137 at that time last year (down 6%) and 148 at the end of July (down 14%); the 31 New Listings in August were down 43% compared to July, down 56% compared to June, down 31% compared to August 2025, down 22% compared to August 2024 and down 18% compared to August 2023.

Month’s supply of total residential listings is down to 4 months from 6 (seller’s market conditions) and sales to listings ratio of 100% compared to 44% in July, 37% in June, 42% in August 2025, 52% in August 2024 and 60% in August 2023.             

Maple Ridge: Total Units Sold in August were 96, down from 109 (12%) in July, down from 122 (21%) in June, down from 128 (25%) in August 2025, down from 123 (22%) in August 2024, and down from 119 (19%) in August 2023; Active Listings were at 889 at month end compared to 962 at that time last year (down 8%) and 949 at the end of July (down 6%); the 207 New Listings in August were down 35% compared to July, down 30% compared to June, down 14% compared to August 2025, down 25% compared to August 2024 and down 24% compared to August 2023.

Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions) and sales to listings ratio of 46% compared to 34% in July, 41% in June, 53% in August 2025, 44% in August 2024 and 43% in August 2023.

Ladner: Total Units Sold in August were 29, up from 21 (38%) in July, up from 27 (7%) in June, up from 26 (12%) in August 2025, up from 25 (16%) in August 2024, and up from 24 (21%) in August 2023; Active Listings were at 175 at month end compared to 174 at that time last year (down 1%) and 186 at the end of July (down 6%); the 46 New Listings in August were the same as July, down 23% compared to June, down 10% compared to August 2025, up 2% compared to August 2024 and up 39% compared to August 2023.

Month’s supply of total residential listings is down to 6 months from 9 (balanced market conditions) and sales to listings ratio of 63% compared to 46% in July, 45% in June, 51% in August 2025, 56% in August 2024 and 73% in August 2023.

Tsawwassen: Total Units Sold in August were 39, down from 43 (9%) in July, down from 48 (19%) in June, the same as August 2025, up from 32 (22%) in August 2024, and up from 28 (39%) in August 2023; Active Listings were at 291 at month end compared to 325 at that time last year (down 10%) and 329 at the end of July (down 12%); the 59 New Listings in August were down 34% compared to July, down 41% compared to June, down 27% compared to August 2025, down 2% compared to August 2024 and up 9% compared to August 2023.

Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 66% compared to 48% in July, 48% in June, 48% in August 2025, 53% in August 2024 and 52% in August 2023.

Fraser Valley: Total Units Sold in August were down 14% at 941 compared to July at 1,089 and were up 1% from August 2025 at 931. New listings were down 16% at 2,373 from July at 2,836 and down 15% from August 2025 at 2,793. The benchmark price of $869,900 was down 0.9% month-over-month and was down 7.2% year-over-year. Active listings at 9,787 were down 3% compared to last month at 10,044 and down 6% from August 2025 at 10,445.

Month’s supply of total residential listings is rose to 10 months from 9 (buyer’s market conditions).