Home sales remain down in Maple Ridge-Pitt Meadows and across Metro Vancouver

Residential real estate sales remained slow in Maple Ridge-Pitt Meadows and across Metro Vancouver in August. Greater Vancouver Realtors reported 1,869 Metro Vancouver residential sales, down 4.6 per cent from 1,959 in August 2025 and 21 per cent below the 10-year seasonal average of 2,356.

GVR chief economist Andrew Lis said inventory has receded from 2025 highs, while slower-than-usual sales have pushed prices lower across market segments. He said the composite price index is down about six per cent year over year, and cited slower immigration, reduced investor demand and mortgage rates that have not encouraged robust buying activity.

In Maple Ridge-Pitt Meadows, Royal LePage Elite West realtor Andy Wallace described 2026 as abnormally slow. GVR figures show detached-home prices have fallen 10 per cent in Maple Ridge and nine per cent in Pitt Meadows over three years. Townhouse prices fell about eight per cent and apartment prices more than 11 per cent. Last month’s median prices were $1.22 million for detached homes, $692,000 for townhouses and $479,000 for apartments.

Across Metro Vancouver, the composite residential benchmark price was $1.08 million, down 5.6 per cent from August 2025. Detached homes had a benchmark price of $1.8 million, down 7.2 per cent. Apartment sales fell 6.8 per cent to 891, with a benchmark price of $686,200, while townhouse sales rose to 412 from 409 and their benchmark price fell 4.4 per cent to $1.03 million. Wallace and the B.C. Real Estate Association expect conditions may improve in 2027, though BCREA says any recovery is likely to be slow and gradual.