What the August 2026 Market Pulse Means for Vancouver and Burnaby Real Estate

The Brad & Theo Market Pulse fell to 24 out of 100 in August, down from 32 last month and firmly in Buyer Advantage territory.

After some encouraging signs in June, July's numbers suggest the Vancouver real estate market has not yet established a convincing bottom. Sales weakened, prices continued to soften, and buyers still have plenty of choice.

But the headline numbers don't tell the entire story. Our recent transactions in Vancouver, Burnaby and New Westminster show that buyers haven't disappeared—they've become much more selective about what they buy and how much they're prepared to pay.

Is Vancouver Real Estate Still a Buyer's Market?

Our Market Pulse says yes.

July sales declined across all three major property categories. Detached sales were down 2.4% year over year, apartment sales fell 17.5%, and townhome sales declined 6.1%.

Prices also continued to soften. Compared with July 2025, benchmark prices were down 7.0% for detached homes, 7.5% for apartments and 6.0% for townhomes.

The sales-to-active listings ratios tell a similar story: 10.3% for detached homes, 14.2% for condos and 17.2% for townhomes. Townhomes are clearly showing greater relative strength, while detached homes remain the most buyer-friendly of the three major categories.

That's important because a buyer's market changes behaviour. When buyers have lots of options, they don't need to compromise as much. They can compare properties, monitor price reductions and wait until something offers compelling value.

We're seeing exactly that.

Buyers Are Picking Off Good Deals

Two of our recent buyer transactions illustrate how people are taking advantage of these conditions.

At 519–10 Renaissance Square in New Westminster, our buyer purchased a 791-square-foot loft at Murano Lofts for $496,000. Rather than a typical one-bedroom condo, the home offers 17-foot ceilings, two levels, city views, parking and a rare same-floor storage locker.

Our buyer recognized a combination of price and features that would be difficult to replicate and decided it was worth acting.

We saw something similar at 1–1606 W 10th Avenue in Vancouver's Fairview neighbourhood. The building dates to 1982, but the home offers 804 square feet, two bedrooms, parking, storage and a large private garden patio in a boutique nine-unit building. It sold for $687,500.

Neither buyer needed to know whether July 2026 would ultimately prove to be the exact bottom of the market.

They found properties they liked at prices they considered attractive.

That's a significant change from a strong seller's market, when buyers often purchase because they're worried about what will happen if they wait. Today's buyers have the luxury of asking: Is this property good enough, and is the price attractive enough, for me to act now?

If the answer isn't clearly yes, many are prepared to keep looking.

What Vancouver Condo Sellers Need to Know

Our recent sale at 329–2239 Kingsway in East Vancouver demonstrates the other side of this market.

This is a functional two-bedroom, two-bathroom plus flex condo offering 841 square feet, parking, mountain views, in-suite laundry and a convenient Kingsway location.

Yet it took almost three months to sell.

We reduced the price twice as we responded to buyer feedback and competing inventory. Eventually, we found the right buyer and sold for $645,000 against a final asking price of $649,900.

This fits closely with what we've been seeing in the Vancouver condo market, particularly among older and smaller units. Even a slightly overpriced condo can struggle to generate meaningful activity because buyers have alternatives.

The lesson isn't that condos aren't selling. It's that buyers are forcing sellers to find the price at which the market recognizes value.

Once we reached that point on Kingsway, we negotiated a sale very close to our asking price.

Why Some Burnaby Townhomes Are Still Competitive

A Market Pulse of 24 doesn't mean every buyer has unlimited negotiating power.

One of our buyers searching for an older North Burnaby townhome below $900,000 recently encountered multiple offers on two separate properties and was unsuccessful both times.

That's consistent with townhomes having the strongest sales-to-active ratio of the three major housing categories.

It also reinforces something we regularly tell clients: there isn't one Vancouver or Burnaby real estate market.

An older condo competing against numerous similar listings can behave very differently from a well-priced Burnaby townhome suitable for a young family. Price range, location, condition and property type all matter.

We're finding that buyer activity remains particularly noticeable at the more accessible price points. Affordability is still a major constraint in Vancouver and Burnaby, so when a desirable property reaches a price that buyers perceive as good value, competition can return surprisingly quickly.

Is This a Good Time to Move Up in Burnaby?

For some families, we think it can be.

We recently helped a Burnaby family move from a three-bedroom townhome into a move-in-ready detached home—while staying in Burnaby.

This is one of the opportunities we find most interesting in the current market.

Move-up buyers are both sellers and buyers. It's easy to focus on the fact that your existing home might sell for less than it would have at the peak of the market. But that's only half of the equation.

The more important number is often the price gap between the home you're selling and the home you want to buy.

A softer market can mean more detached-home inventory, fewer competing offers and greater negotiating leverage. If higher-priced properties have experienced larger dollar declines, the gap required to move from a townhome into a detached home can actually become more manageable.

Paradoxically, the strongest markets can be some of the hardest times to move up. Your existing home sells easily, but so does the detached home you want—and you may find yourself competing aggressively to buy it.

What Does a 24 Market Pulse Mean?

We aren't yet seeing enough evidence to say the Vancouver housing market has established a durable bottom. July's weakness following June's improvement reinforces our cautious outlook.

But Buyer Advantage doesn't mean buyers shouldn't buy.

It means they have something Vancouver and Burnaby buyers haven't always enjoyed: time, selection and negotiating power.

Our recent transactions illustrate that clearly. Some sellers are having to reduce prices to find the market. Some buyers are patiently picking off properties they consider good value. And certain segments—particularly well-priced townhomes and more affordable attached homes—can still attract considerable competition.

For sellers, pricing and presentation have become critical. For buyers, patience and preparation are being rewarded. And for homeowners considering a move up, today's weaker market may actually create an opportunity that becomes harder to find once confidence and competition return.

Buyers are in control—and they're getting choosy. Right now, understanding value at the neighbourhood and property level matters far more than trying to perfectly predict the exact bottom of the Vancouver or Burnaby real estate market.

The Brad & Theo Market Pulse for July 2026 rose to 32 out of 100, up five points from 27 last month. That is the strongest monthly improvement we have seen in some time, but the market remains firmly in Buyer Advantage territory.

The key question is whether this is the beginning of a genuine recovery or simply a better month in a still-weak market. At this stage, we think it is too early to call a bottom. However, June’s data did contain some genuinely encouraging signs.

The biggest improvement came from sales activity. June sales were 9.6% higher than a year earlier and only 12.4% below the 10-year seasonal average. That is still weaker than normal, but it represents a meaningful improvement from May, when sales were approximately 27% below the 10-year average.

The sales-to-active listings ratio also improved to 14.6%. This is an important measure because it looks at demand relative to the amount of inventory available. The higher the ratio, the more pressure there is on buyers; the lower it is, the more choice and negotiating leverage buyers generally have.

At 14.6%, the market is still not strong, but demand is doing a better job of absorbing available inventory than it was earlier this year. That improvement is the main reason the Pulse moved from 27 to 32.

Inventory Is Still the Biggest Challenge

The strongest argument against declaring a market bottom is inventory.

There were approximately 17,000 active listings across Greater Vancouver at the end of June, roughly 30% above the 10-year seasonal average. Buyers still have a lot of choice, and sellers are competing against far more listings than they were during the stronger markets of recent years.

This has a significant psychological effect. When buyers have limited options, they worry about missing out. When they have numerous comparable properties to consider, they become more patient. They watch new listings, compare recent price reductions and wait for a property that offers clear value.

That is very much the market we are seeing today.

The important change in June was that demand strengthened while the flow of new listings began to slow. If that continues, the market could gradually work through some of its excess inventory. But one month is not enough to establish a trend, particularly as we move into the traditionally quieter summer period.

Prices Are Still Under Pressure

The composite benchmark price was approximately 6% lower than a year ago and edged down another 0.1% from May.

That monthly decline is small, but the broader trend matters. Despite better sales activity, prices have not yet shown convincing evidence of stabilizing.

This is why we are cautious about calling the current market a bottom. A true market turn would likely involve several things happening together: stronger sales, a sustained improvement in the sales-to-active ratio, inventory beginning to decline relative to normal levels, and prices showing broader signs of stabilization.

We have now seen improvement in the first two areas. We have not yet seen enough progress in the other two.

A Buyer’s Market Does Not Mean Every Property Is Easy to Buy

One of the clearest lessons from our June transactions is that the market is much more nuanced than the headline numbers suggest.

We recently sold 153–20180 84th Avenue after just one open house. We were initially a little nervous about using an underpricing strategy to generate competition. In a market with high inventory and selective buyers, underpricing can be risky if the demand simply is not there.

However, after a lot of research into the competing inventory, recent sales and likely buyer demand, our experience told us the strategy was worth trying. It worked.

This is an important reminder for sellers: a buyer-friendly market does not mean every home needs the same strategy. The right approach depends on the property, price range and competition. In some cases, pricing at market value is best. In others, strategic underpricing can still create urgency and competition.

We saw the same market segmentation from the buyer side. One of our clients looking for an older townhome in North Burnaby under $900,000 encountered multiple offers on two different properties and was unsuccessful both times.

That may sound surprising in a market with so much inventory, but it illustrates an important point: affordable, family-oriented housing can still be very competitive.

Buyers have more choice overall, but good properties at attractive price points can still draw multiple offers. The market is not uniformly weak.

Buyers Are Picking Off the Best Opportunities

Our day-to-day experience continues to show that buyers are highly selective. They are not rushing into purchases simply because inventory is available. Instead, they are carefully evaluating properties and waiting for clear value.

We continue to see some of the greatest pressure on older and smaller condos. In this segment, even a property that is only slightly overpriced may struggle to attract traffic. With so many alternatives available, buyers can simply move on to the next listing.

At the same time, good homes can still sell very well.

Our recent listing at 4355 MacDonald Avenue in Burnaby’s Burnaby Hospital neighbourhood attracted more than 30 groups to its first open house and sold above the asking price.

The common thread is that buyers are still active, but they are focusing their attention on the best opportunities. Well-located, well-presented, move-in-ready homes that represent clear value can still perform strongly.

We often describe this as buyers picking off the best deals.

The Move-Up Opportunity Is Real

Perhaps the most interesting opportunity in the current market is for homeowners looking to move up.

We recently helped a Burnaby family sell their three-bedroom townhome and move into a detached, move-in-ready home, also in Burnaby. We are also working with another astute buyer who sees the current market as an opportunity to make the move from a townhouse to a detached home.

These buyers understand something important: the best time to move up is not necessarily when the market feels strongest.

A move-up buyer is both a seller and a buyer. In a softer market, they may receive less for the home they are selling, but the more important question is what is happening to the property they want to buy.

In many cases, the more expensive property has experienced greater dollar-value pressure. There may also be more inventory, less competition and better negotiating opportunities. That can make the gap between a townhome and a detached house—or between a condo and a townhome—more manageable.

The strongest markets are often the hardest markets in which to move up. Your current home may sell easily, but the next property can attract multiple offers and rise in price faster than the home you already own.

Today’s market can offer the opposite dynamic: more time, more choice and greater leverage on the purchase.

What We Expect This Summer

June’s improvement is encouraging, but our view remains cautious.

The spring market failed to produce a convincing turnaround or clear evidence of a durable bottom. That matters because spring is normally the strongest part of the Vancouver real estate calendar.

We expect activity to remain relatively subdued through the summer. If sales continue to improve while new listings slow, the market could begin to stabilize. If demand weakens again and inventory remains elevated, further price pressure is possible.

For now, the Pulse at 32 out of 100 tells a fairly clear story: the market is improving, but buyers still hold the overall advantage.

The more important lesson from our own June transactions is that there is no single Vancouver market. Some older and smaller condos are struggling to attract attention. Well-presented homes can still sell quickly. Affordable townhomes can receive multiple offers. And for move-up buyers who understand the opportunity, the current market may offer possibilities that are much harder to find when the headlines are more positive.

The market may not have found its bottom yet. But for the first time in several months, both the data and some of what we are seeing on the ground are moving in a more constructive direction.