January 2026 – The Year Of Breathing Room
If you have been feeling whiplash from Metro Vancouver headlines, you are not alone. One week it is “prices falling,” the next week it is “homes still unaffordable.” Our read of the January numbers is simpler.
This is the year the market finally gives you some breathing room.
All stats in this update come from the Greater Vancouver REALTORS Metro Vancouver report for January 2026. 2026-01-Metro-Vancouver
Big picture: the sprint is over, the hike continues
Across detached homes, condos, and townhomes, three themes show up.
- Prices are lower than last year, but not collapsing.
- Detached benchmark price is approx 1,850,800, about 7.3% lower than January 2025.
- Condo benchmark price is approx 704,600, about 5.9% lower.
- Townhome benchmark price is approx 1,043,400, about 5.4% lower. 2026-01-Metro-Vancouver
- Fewer sales, more time to decide.
- Detached sales are down approx 21% year over year, condos down approx 34%, townhomes down approx 31%.
- Average days on market now sit around 61 for detached, 49 for condos, 47 for townhomes, which means many listings are taking one to two months to find the right buyer. 2026-01-Metro-Vancouver
- We are sitting in a buyer leaning to balanced range.
- Sales to active ratios for January: approx 6.4% for detached, 10.5% for condos, 10.9% for townhomes. The chart on page 1 shows all three property types sitting in the lower part of the balanced band, with detached closest to buyer territory. 2026-01-Metro-Vancouver
If you zoom out to the long term price chart on page 5, you still see a steady climb over the last decade. Even with this year’s pullback, benchmark prices sit well above pre 2020 levels. 2026-01-Metro-Vancouver
One glance summary: where each segment stands
Price and balance snapshot
| Property type | Benchmark price Jan 2026 | 1 year change | Market feel |
|---|---|---|---|
| Detached | approx 1,850,800 | approx 7.3% lower | approx 6.4% sales to active, buyer leaning |
| Condo | approx 704,600 | approx 5.9% lower | approx 10.5% sales to active, softer balanced |
| Townhome | approx 1,043,400 | approx 5.4% lower | approx 10.9% sales to active, softer balanced |
2026-01-Metro-Vancouver
You can think of this as three different kinds of breathing room:
- Detached owners are negotiating in a clear buyer leaning environment.
- Condo and townhome owners are in softer balanced territory, where the right listing still finds a buyer, but rarely overnight.
- Buyers across all segments have more time to think and more power to negotiate than they did a year or two ago.
Detached homes: from sprint to steady climb
Detached homes have felt the biggest shift.
- Active listings are up approx 3.9% compared with last January.
- Sales are down approx 20.7%.
- Prices are approx 7.3% lower year over year and have been easing gradually from mid 2025 peaks. 2026-01-Metro-Vancouver
What this means if you own a detached home
- You are competing with more listings and more cautious buyers.
- Pricing above the current detached benchmark usually pushes buyers toward the next neighbourhood or property type.
- Cosmetic prep, clean disclosure, and realistic expectations around days on market are your best protection.
What this means if you want to buy detached
- The sales to active ratio around 6.4% and the 61 day average time on market tell us you can negotiate calmly, not rush. 2026-01-Metro-Vancouver
- You can often include inspection and financing conditions again.
- Your leverage comes from being prepared, not from lowballing everything. Serious, well supported offers stand out in a quieter room.
Condos: quietly recalibrating
Condo data shows a softer recalibration rather than a sharp break.
- Active listings are slightly lower than last January, down approx 1.3%.
- Sales are down approx 34.4%.
- Benchmark price is approx 704,600, about 5.9% lower than a year ago and on a slow downward trend across 2025. 2026-01-Metro-Vancouver
Average price per square foot for condos has also eased over the last two years, as shown in the chart on page 5, even though it remains higher than pre pandemic levels. 2026-01-Metro-Vancouver
If you own a condo
- Buyers now compare multiple units in your building and neighbouring towers.
- View, floor plan, noise exposure, and strata history matter more than ever.
- Being the “clear, easy to understand” option on the shortlist often matters more than chasing an extra few thousand dollars.
If you are buying a condo
- With a sales to active ratio around 10.5% and nearly fifty days on market on average, you have time to read documents and think clearly. 2026-01-Metro-Vancouver
- You can use this breathing room to prioritize building quality and long term fit, not just price per square foot.
Townhomes: families still moving, but at a calmer pace
Townhomes sit between detached and condos, both in price and in behaviour.
- Active listings are up approx 18.3% year over year.
- Sales are down approx 30.8%.
- Benchmark price is approx 1,043,400, about 5.4% lower than last January and on a gentle downward slope through 2025. 2026-01-Metro-Vancouver
The sales to active ratio around 10.9% and an average of 47 days on market tell us townhomes are not in a frenzy, but good homes still move. 2026-01-Metro-Vancouver
If you own a townhome
- Family sized layouts, parking that actually works for real life, and walkable amenities continue to pull in buyers.
- Your biggest risk is pricing as if 2022 never ended. The latest sales for your complex or immediate area should be the anchor, not the highest sale on record.
If you want to buy a townhome
- You have more product to choose from, especially in communities that saw a lot of building in the last decade.
- You can often trade some competition for better terms by targeting homes that have been on the market longer.
How to use this “breathing room” to your advantage
If you are thinking about selling
- Decide what matters most: timing, price, or convenience.
In this market, you rarely get all three at the top of the scale. Knowing your priority lets us design a strategy that protects it. - Use the extra days on market wisely.
You have a window to adjust pricing, improve staging, or respond to feedback instead of everything being over in three days. - Anchor to very recent sales.
In a shifting market, June 2025 numbers can already be stale. January and February 2026 comparables tell the real story.
If you are planning to buy
- Get clear on your numbers, not just your approval.
Higher rates mean comfort level matters as much as maximum qualification. - Use the calm to do full due diligence.
Title, inspection, and strata documents are not red tape, they are your protection. - Remember that micro markets matter.
The city wide stats are a starting point. Your specific neighbourhood and property type can behave very differently.
If you want to see how this “year of breathing room” lands on your specific home or wish list, send us a quick note with your neighbourhood and timeline and we will put together a simple, custom breakdown for you in plain language.
January 2026 sits in a buyer leaning to balanced range. Sales to active ratios are approx 6.4% for detached homes, 10.5% for condos, and 10.9% for townhomes, which points to softer conditions than the busy years and more negotiating room for buyers.
Benchmark prices are lower across all three property types. Detached homes are approx 7.3% lower than January 2025, condos are approx 5.9% lower, and townhomes are approx 5.4% lower.
Yes. Detached homes took an average of about 61 days to sell in January 2026, condos averaged about 49 days, and townhomes about 47 days, which is noticeably slower than the peak periods.
Not necessarily. It means you need a pricing and prep plan that reflects today’s buyers and today’s competition. Well presented, accurately priced homes are still selling, but the strategy is different from a bidding war environment.
For many people, yes, as long as the monthly payments and timeline fit. Prices are lower than last year, there is more selection, and you can usually include protective conditions again. The key is to buy a home that fits your life for the next several years rather than trying to time the absolute bottom.