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JANUARY SALES AND LISTING REPORTThere’s a Feelingin the Market

Highlights of Dexter’s January 2026 report Don’t let the numbers fool you, it’s only JanuaryBank of Canada on hold for nowOne of the healthiest inventory environments in yearsIt’s a buyer’s time to shineJanuary rarely defines a real estate year. It resets it.Across Greater Vancouver, January 2026 unfolded exactly as a reset month should:slower sales, a decisive return of newish listings, and a market that continuestransitioning away from volatility toward structure, choice, and long-term stability.While headline sales numbers declined month-over-month and year-over-year albeitat a better pace than January 2023 and 2019, the underlying trends point tosomething more constructive: One of the healthiest inventory environments the regionhas seen in years, paired with better buyer engagement and early signs ofnormalization. Ask a REALTOR® if January is feeling different so far. Sometimes thenumbers do not tell the whole story, the feeling on the ground from agents is thatbuyers are more engaged then we saw last year. With buyers citing better purchasingpower and more opportunity as 2026 begins. We’ll see if the market saw its shadow ornot on Ground Hog Day and perhaps an early start to the spring market is in store.This is not a market losing momentum. It is a market rebuilding confidence.January Market Overview: A Reset Month That’s Building the Base for2026

Greater Vancouver: More Inventory, Better Balance, Clearer DirectionTotal residential sales across Greater Vancouver reached 1,107 units in January, downfrom the fall months and on queue with the seasonal drop from December’s numbers.Sales transactions that start in the last half of December are reflected in January salesreported, so while many celebrated the Holidays and took time away from the market,it makes for weaker results in January. Nothing to be surprised at. But activity lastmonth still outperformed January 2023 and January 2019 and thus reflected typicalwinter behavior rather than structural weakness. What’s more important is thatactivity in the market has increased at opens and with homes getting more buyersviewing them, and even some multiple offers sprinkling into the market.More importantly, supply continues to be a story in the market. Not just resale homes,but newly built properties – mostly apartments, are providing buyers with meaningfulopportunities in the market. At the end of 2025, there were 4,350 newly built andmove-in ready strata units available in Metro Vancouver according to Zonda Urban.Burnaby/New Westminster lead the way with 1,388 followed by Richmond/SouthDelta with 653. Those opportunities will dwindle though as developers shy away fromplanning and building new projects due to the high costs in development, especiallyever increasing municipal and regional fees and levies. Once these new homes aregone, expect there to be a shortage in the next 2 to 5 years with many developmentshalted and developers having pivoted to rental buildings.Greater Vancouver sales in January were 31% below the 10-year average after salesin December were 18% below the 10-year average, and November with 21% belowthe 10-year average. January lagged with the hangover from the end of 2025 as ayear of uncertainty kept so many buyers on the sidelines.

Active listings rose to 12,628, up 10% year-over-year, while new listings surged to5,253, a dramatic post-holiday return of sellers. The question is how many of theselistings were brought back from 2025, some with lower prices to reflect sellers listeningto the market. This influx of inventory pushed months of supply to 11 months, firmlyinto buyer’s market territory and giving purchasers something they have lacked foryears: a continuation of time, selection, and leverage.The number of new listings in January were 19% above the 10-year average afterDecember was 11% above the 10-year average and November 3% above. Again, howmany of these listings are new to market or back on after a break for the holidaysspeaks volumes. With the total active listing count having only grown by less than 1%from December, this indicates that many of these new listings aren’t that new at all. Yet despite this shift, the market remains orderly. The sales-to-listings ratio openedthe year at 21%, a level that signals a significant buyer advantage. Buyers are present.Sellers need to be realistic. Transactions are happening—just with more deliberation.This is the foundation of a sustainable market.Vancouver Westside: Inventory Contracts Quietly To Tighten the MarketOn the Vancouver Westside, January sales declined to 190 units, consistent withseasonal slowdowns and reflecting the discretionary nature of higher-end purchases.However, the more telling story lies on the supply side. Active listings fell to 2,301, down 10% year-over-year (an anomaly in MetroVancouver), and continued to trend lower month-over-month. This decline occurredeven as 916 new listings entered the market, an indication that many listings came backon as opposed to new to market.

Months of supply rose to 12 months, maintaining buyers’ market conditions, but thesemetric masks the growing selectivity of demand. Buyers are active, but focused. Sellerswho align pricing with today’s realities are being rewarded with successful outcomes.The Westside is not oversupplied, it is recalibrating. Buyers are finding purchasingpower they didn’t know existed.Vancouver East Side: Modestly Moving with Selection for BuyersJanuary sales reached 127 units, down seasonally but up 8% compared to January 2023,reinforcing the longer-term stability of demand in this submarket. Detached sales wereup 9% year over year with buyers taking advantage of move-up opportunities. Activelistings rose to 1,329, and new listings surged nearly 200% from December, reflectingsellers’ growing confidence in a more balanced environment. Months of supplyincreased to 10 months, yet the East Side remains one of the region’s most liquidmarkets. Townhomes and duplexes remain fully stocked as developers shift to smallerprojects.North Shore: Inventory Rebuild Sets the Stage for RecoveryNorth Vancouver recorded 92 sales in January, lower than prior years but still 21%higher than January 2023, highlighting the longer-term upward trend in demand. Thestory here is inventory.Active listings climbed to 696, up 17% year-over-year, while new listings rose sharplyas sellers responded to improving conditions. Months of supply increased to 8 months,a notable shift from the tighter conditions of recent years. The North Shore remainshighly desirable, and this period of balance is likely temporary as pent-up demandslowly reasserts itself.

Beyond VancouverRichmond’s January performance mirrored the broader region: slower sales at 129units, paired with a meaningful increase in inventory. Active listings rose to 1,684, up28% year-over-year, while new listings increased sharply from December.Burnaby North and South outperformed the eastern part of that city with the southseeing more sales than January 2025 in detached and townhome segments.Opportunities are there for buyers in Burnaby where massive developments atBrentwood and Metrotown continue to provide significant supply of new condosincluding the upscale Highline at Metrotown.The Tri-Cities experienced one of the most pronounced inventory expansions inJanuary which includes the supply of newly built homes. Coquitlam recorded 89 sales,outperforming January 2023 by 22%, while active listings rose to 1,063. Port Moodyand Port Coquitlam saw sharp seasonal slowdowns in sales, but also dramaticincreases in listings, creating the most buyer-friendly conditions seen in years.Months of supply now range from 11 to 12 months, giving buyers flexibility andencouraging longer-term planning.Further afield, markets like Maple Ridge, Pitt Meadows, Ladner, and Tsawwassenexperienced slower January sales. Ladner didn’t see a townhome or condo sale inJanuary. Maple Ridge stood out with 72 sales, up from January 2023, and stablemonths of supply at 10 months which could be a sign of underlying consistency.

Fraser Valley Tells a Similar Story as Greater VancouveBig Picture: This Is What Stability Looks LikeJanuary’s data confirms a critical shift underway across Metro Vancouver. This is nolonger a market defined by scarcity, panic, or forced urgency. It is defined by choice,balance, and discipline. Inventory is being restored without overwhelming demand.Buyers are returning without overextending. Sellers are adjusting expectationswithout capitulating. Sales volumes may be lower, but market quality is improving withprices experiencing sharper declines in the last 6 months. Purchasing power is at itsbest for buyers compared to the last 5 years.As interest rate expectations stabilize and confidence gradually rebuilds, theseconditions position the region well for more activity, particularly in the second half of2026. Markets move in cycles, and January made one thing clear: The groundwork forthe next expansion phase is already being laid. There have been far too few sales inthe past 4 years to expect this market to remain quiet.Much like Greater Vancouver, The Fraser Valley experienced a tepid start to 2026 withFebruary showing a decline in sales and new listings year-over-year. With 619 sales inJanuary, this was down 32% from December and down 24% from January 2025.Unlike Greater Vancouver, sales were slightly down from January 2023 and down 21%from January 2019. Affordability continues to take a toll on the Fraser Valley marketwith prices showing higher declines over the last year compared to GreaterVancouver, with Surrey and North Delta being the hardest hit. Inventory saw a greaterincrease month-over-month in the Fraser Valley, up 11% compared to GreaterVancouver at only 1%.With the increase in listing inventory, months of supply in the Fraser Valley increasedfrom 8 months in December to 12 months in January and compared to 9 months inJanuary 2025.

Here’s a summary of the numbers:Greater Vancouver: Total Units Sold in January were 1,107, down from 1,537 (28%) inDecember, down from 1,846 (40%) in November, down from 2,255 (51%) in October,down from 1,552 (29%) in January 2025, down from 1,427 (22%) in January 2024, andup from 1,030 (7%) in January 2023; Active Listings were at 12,628 at month endcompared to 11,494 at that time last year (up 10%) and 12,550 at the end ofDecember (up 1%); the 5,253 New Listings in January were up 176% compared toDecember, up 40% compared to November, down 5% compared to October, down 7%compared to January 2025, up 35% compared to January 2024 and up 55%compared to January 2023. Month’s supply of total residential listings is up to 11 months from 8 (buyer’s marketconditions) and sales to listings ratio of 21% compared to 27% in January 2025, 37% inJanuary 2024, and 30% in January 2023. Vancouver Westside: Total Units Sold in January were 190, down from 287 (34%) inDecember, down from 363 (48%) in November, down from 403 (53%) in October,down from 255 (25%) in January 2025, down from 245 (22%) in January 2024, anddown from 194 (2%) in January 2023; Active Listings were at 2,301 at month endcompared to 2,548 at that time last year (down 10%) and 2,366 at the end ofDecember (down 3%); the 916 New Listings in January were up 189% compared toDecember, up 30% compared to November, down 13% compared to October, down22% compared to January 2025, up 8% compared to January 2024 and up 27%compared to January 2023. Month’s supply of total residential listings is up to 12 months from 8 (buyer’s marketconditions) and sales to listings ratio of 21% compared to 22% in January 2025, 29% inJanuary 2024, and 27% in January 2023.

Vancouver East Side: Total Units Sold in January were 127, down from 158 (20%) inDecember, down from 210 (40%) in November, down from 269 (53%) in October,down from 158 (20%) in January 2025, down from 164 (23%) in January 2024, and upfrom 118 (8%) in January 2023; Active Listings were at 1,329 at month end comparedto 1,198 at that time last year (up 11%) and 1,242 at the end of December (up 7%);the 654 New Listings in January were up 199% compared to December, up 54%compared to November, up 8% compared to October, up 0.5% compared to January2025, up 30% compared to January 2024 and up 82% compared to January 2023. Month’s supply of total residential listings is up to 10 months from 8 (buyer’s marketconditions) and sales to listings ratio of 19% compared to 24% in January 2025, 33% inJanuary 2024, and 33% in January 2023.North Vancouver: Total Units Sold in January were 92, down from 125 (26%) inDecember, down from 158 (42%) in November, down from 188 (51%) in October,down from 148 (38%) in January 2025, down from 117 (21%) in January 2024, and upfrom 82 (21%) in January 2023; Active Listings were at 696 at month end compared to596 at that time last year (up 17%) and 625 at the end of December (up 11%); the 407New Listings in January were up 257% compared to December, up 41% compared toNovember, down 4% compared to October, down 5% compared to January 2025, up50% compared to January 2024 and up 76% compared to January 2023. Month’s supply of total residential listings is up to 8 months from 5 (buyer’s marketconditions) and sales to listings ratio of 23% compared to 34% in January 2025, 43% inJanuary 2024, and 35% in January 2023.

West Vancouver: Total Units Sold in January were 29, up from 28 (4%) in December,down from 53 (45%) in November, down from 58 (50%) in October, down from 30 (3%)in January 2025, up from 23 (26%) in January 2024, and up from 28 (4%) in January2023; Active Listings were at 557 at month end compared to 541 at that time last year(up 3%) and 573 at the end of December (down 3%); the 213 New Listings in Januarywere up 233% compared to December, up 84% compared to November, down 4%compared to October, up 8% compared to January 2025, up 18% compared toJanuary 2024 and up 68% compared to January 2023. Month’s supply of total residential listings is down to 9 months from 20 (buyer’s marketconditions) and sales to listings ratio of 14% compared to 15% in January 2025, 13% inJanuary 2024, and 22% in January 2023.Richmond: Total Units Sold in January were 129, down from 165 (22%) in December,down from 191 (32%) in November, down from 236 (45%) in October, down from 206(37%) in January 2025, down from 161 (20%) in January 2024, and up from 120 (8%)in January 2023; Active Listings were at 1,684 at month end compared to 1,319 atthat time last year (up 28%) and 1,781 at the end of December (down 5%); the 597New Listings in January were up 125% compared to December, up 37% compared toNovember, down 1% compared to October, down 3% compared to January 2025, up45% compared to January 2024 and up 47% compared to January 2023. Month’s supply of total residential listings is up to 13 months from 11 (buyer’s marketconditions) and sales to listings ratio of 22% compared to 34% in January 2025, 39% inJanuary 2024, and 29% in January 2023.

Burnaby East: Total Units Sold in January were 9, down from 15 (40%) in December,down from 18 (50%) in November, down from 32 (72%) in October, down from 17(47%) in January 2025, down from 17 (47%) in January 2024, and the same as January2023; Active Listings were at 141 at month end compared to 135 at that time last year(up 4%) and 155 at the end of December (down 9%); the 65 New Listings in Januarywere up 150% compared to December, up 97% compared to November, down 14%compared to October, down 24% compared to January 2025, up 30% compared toJanuary 2024 and up 48% compared to January 2023. Month’s supply of total residential listings is up to 16 months from 10 (buyer’s marketconditions) and sales to listings ratio of 14% compared to 20% in January 2025, 34% inJanuary 2024, and 20% in January 2023.Burnaby North: Total Units Sold in January were 80, down from 113 (29%) inDecember, down from 98 (18%) in November, down from 147 (46%) in October, downfrom 104 (23%) in January 2025, down from 88 (9%) in January 2024, and up from 63(27%) in January 2023; Active Listings were at 715 at month end compared to 649 atthat time last year (up 10%) and 691 at the end of December (up 3%); the 344 NewListings in January were up 175% compared to December, up 44% compared toNovember, up 3% compared to October, down 2% compared to January 2025, up86% compared to January 2024 and up 70% compared to January 2023. Month’s supply of total residential listings is up to 9 months from 6 (buyer’s marketconditions) and sales to listings ratio of 23% compared to 30% in January 2025, 48% inJanuary 2024, and 31% in January 2023.

Burnaby South: Total Units Sold in January were 67, down from 85 (21%) inDecember, down from 89 (25%) in November, down from 104 (36%) in October, upfrom 59 (14%) in January 2025, down from 102 (34%) in January 2024, and up from 54(24%) in January 2023; Active Listings were at 604 at month end compared to 500 atthat time last year (up 21%) and 639 at the end of December (down 5%); the 255 NewListings in January were up 150% compared to December, up 34% compared toNovember, down 9% compared to October, up 3% compared to January 2025, up19% compared to January 2024 and up 57% compared to January 2023. Month’s supply of total residential listings is up to 9 months from 8 (buyer’s marketconditions) and sales to listings ratio of 26% compared to 24% in January 2025, 48% inJanuary 2024, and 33% in January 2023.New Westminster: Total Units Sold in January were 48, down from 67 (28%) inDecember, down from 65 (26%) in November, down from 98 (51%) in October, downfrom 61 (21%) in January 2025, down from 54 (11%) in January 2024, and up from 40(20%) in January 2023; Active Listings were at 464 at month end compared to 404 atthat time last year (up 15%) and 430 at the end of December (up 8%); the 219 NewListings in January were up 192% compared to December, up 63% compared toNovember, down 11% compared to October, down 4% compared to January 2025, up63% compared to January 2024 and up 107% compared to January 2023. Month’s supply of total residential listings is up to 10 months from 6 (buyer’s marketconditions) and sales to listings ratio of 22% compared to 27% in January 2025, 40% inJanuary 2024, and 38% in January 2023.

Coquitlam: Total Units Sold in December were 149, up from 146 (2%) in November,down from 185 (19%) in October, down from 167 (11%) in September, up from 128(16%) in December 2024, and up from 119 (25%) in December 2023; Active Listingswere at 1,062 at month end compared to 867 at that time last year (up 22%) and1,269 at the end of November (down 16%); the 172 New Listings in December weredown 53% compared to November, down 67% compared to October, down 70%compared to September, up 11% compared to December 2024, and up 100%compared to December 2023.Month’s supply of total residential listings is down to 7 month’s from 9 (balancedmarket conditions) and sales to listings ratio of 87% compared to 40% in November,83% in December 2024, and 138% in December 2023. Port Moody: Total Units Sold in December were 50, up from 46 (9%) in November,down from 65 (23%) in October, up from 46 (9%) in September, up from 29 (72%) inDecember 2024, and up from 25 (100%) in December 2023; Active Listings were at261 at month end compared to 155 at that time last year (up 68%) and 352 at the endof November (down 26%); the 56 New Listings in December were down 49%compared to November, down 69% compared to October, down 71% compared toSeptember, up 107% compared to December 2024, and up 75% compared toDecember 2023.Month’s supply of total residential listings is down to 5 month’s (balanced marketconditions) and sales to listings ratio of 89% compared to 42% in November, 107% inDecember 2024, and 78% in December 2023.

Port Coquitlam: Total Units Sold in January were 28, down from 43 (35%) inDecember, down from 61 (54%) in November, down from 69 (59%) in October, downfrom 65 (57%) in January 2025, down from 43 (35%) in January 2024, and down from34 (18%) in January 2023; Active Listings were at 304 at month end compared to 236at that time last year (up 29%) and 258 at the end of December (up 18%); the 168New Listings in January were up 195% compared to December, up 83% compared toNovember, up 12% compared to October, up 13% compared to January 2025, up130% compared to January 2024 and up 115% compared to January 2023. Month’s supply of total residential listings is up to 11 months from 6 (buyer’s marketconditions) and sales to listings ratio of 17% compared to 44% in January 2025, 59% inJanuary 2024, and 44% in January 2023.Pitt Meadows: Total Units Sold in January were 9, down from 16 (44%) in December,down from 28 (68%) in November, down from 29 (69%) in October, down from 13(31%) in January 2025, down from 20 (55%) in January 2024, and down from 15 (40%)in January 2023; Active Listings were at 96 at month end compared to 75 at that timelast year (up 28%) and 83 at the end of December (up 16%); the 53 New Listings inJanuary were up 231% compared to December, up 51% compared to November, up13% compared to October, up 26% compared to January 2025, up 39% compared toJanuary 2024 and up 39% compared to January 2023. Month’s supply of total residential listings is up to 11 months from 5 (buyer’s marketconditions) and sales to listings ratio of 16% compared to 30% in January 2025, 52% inJanuary 2024, and 39% in January 2023.

Maple Ridge: Total Units Sold in January were 72, down from 78 (8%) in December,down from 100 (28%) in November, down from 110 (35%) in October, down from 95(24%) in January 2025, down from 106 (32%) in January 2024, and up from 65 (11%)in January 2023; Active Listings were at 733 at month end compared to 663 at thattime last year (up 10%) and 746 at the end of December (down 2%); the 279 NewListings in January were up 179% compared to December, up 39% compared toNovember, down 5% compared to October, down 22% compared to January 2025, up7% compared to January 2024 and up 29% compared to January 2023. Month’s supply of total residential listings is steady at 10 months (buyer’s marketconditions) and sales to listings ratio of 25% compared to 26% in January 2025, 40% inJanuary 2024, and 30% in January 2023.Ladner: Total Units Sold in January were 5, down from 7 (29%) in December, downfrom 27 (81%) in November, down from 30 (83%) in October, down from 17 (71%) inJanuary 2025, down from 21 (76%) in January 2024, and down from 16 (69%) inJanuary 2023; Active Listings were at 147 at month end compared to 134 at that timelast year (up 10%) and 132 at the end of December (up 11%); the 72 New Listings inJanuary were up 500% compared to December, up 38% compared to November, up20% compared to October, down 8% compared to January 2025, up 57% comparedto January 2024 and up 67% compared to January 2023. Month’s supply of total residential listings is up to 29 months from 19 (buyer’s marketconditions) and sales to listings ratio of 7% compared to 22% in January 2025, 46% inJanuary 2024, and 37% in January 2023.

Tsawwassen: Total Units Sold in January were 19, down from 29 (34%) in December,down from 30 (37%) in November, down from 51 (63%) in October, down from 26(27%) in January 2025, down from 24 (21%) in January 2024, and down from 20 (5%)in January 2023; Active Listings were at 255 at month end compared to 216 at thattime last year (up 18%) and 245 at the end of December (up 4%); the 88 New Listingsin January were up 283% compared to December, up 33% compared to November,down 4% compared to October, down 18% compared to January 2025, up 73%compared to January 2024 and up 54% compared to January 2023. Month’s supply of total residential listings is up to 13 months from 8 (buyer’s marketconditions) and sales to listings ratio of 22% compared to 24% in January 2025, 47% inJanuary 2024, and 35% in January 2023.Fraser Valley: Sales in January were down 33% at 619 compared to December at 919and were down 24% from January 2024 at 818. New listings were up 128% at 3,078from December at 1,350 and down 10% from January 2025 at 3,432. The averageprice of $942,330 was down 5% month-over-month and was down 9% year-over-year.Active listings at 7,711 were up 11% compared to last month at 6,965 and up 6% fromJanuary 2025 at 7,251. Month’s supply of total residential listings is up to 12 months supply from 8 (buyer’smarket conditions).

Looking to stay in the know?Sign up for our monthly Sales andListing Reports by visiting us atdexterrealty.comKevin Skipworth, Partner/Broker and ChiefEconomist at Dexter RealtyMarch Greater Vancouver Sales & Listing Report