Metro Vancouver’s housing market lost some of the momentum it gained in June. About 2,100 homes sold through the MLS® in July, while inventory remained well above the seasonal average. Prices were lower than a year ago, but the balance between buyers and sellers did not point to major pressure in either direction. For buyers, sellers, and investors across Maple Ridge and the Fraser Valley, the latest numbers offer a market that still rewards careful planning.

Key takeaways

  • July home sales were 10% lower than last year and 19% below the 10-year average.
  • New listings declined by about 11.5% year over year.
  • Active listings remained 27% above the 10-year seasonal average.
  • The overall sales-to-active listings ratio was 13%, suggesting a relatively balanced market.
  • The benchmark price for all housing types was approximately $1.089 million, down 6.2% from July last year.
  • Apartment sales were a major reason the market slowed after June’s stronger results.

Sales give back June’s gains

Realtors recorded approximately 2,100 residential sales in July. That was a sharp change from June, when the market showed broader improvement. Compared with July of the previous year, sales fell 10%, and activity was about 19% below the typical level for the month over the past decade.

The slowdown was especially noticeable in the apartment market. After a stronger start to the summer, the decline in apartment sales pulled overall activity lower. This shows that June’s improvement was not yet a clear sign of a lasting market shift.

For buyers working with Royal LePage Brookside Realty, this type of market can create more time to compare homes, review financing, and make decisions without rushing. Still, good properties can attract attention, especially when they are well priced and located in established Fraser Valley communities.

Fewer new listings, but plenty of choice

About 5,000 properties were newly listed in July. That was 11.5% fewer than the same month last year, although the number was close to the 10-year average.

By the end of July, roughly 16,500 homes were listed for sale on the MLS®. This was 4% below last year but still 27% higher than the 10-year seasonal average.

The numbers suggest that sellers are becoming more cautious about entering the market. At the same time, buyers continue to have more options than they typically would at this point in the year. That combination can make pricing strategy especially important.

For sellers in Maple Ridge, Pitt Meadows, Mission, and nearby communities, an accurate starting price matters. A home that sits too high above comparable listings may be overlooked, while a well-positioned property can stand out even when buyers have plenty of choice.

What the sales-to-active listings ratio shows

The sales-to-active listings ratio compares the number of homes sold during the month with the number available for sale. It is one way to understand the balance between supply and demand.

Historical trends suggest:

  • A ratio below 12% for a sustained period can create downward pressure on prices.
  • A ratio above 20% for several months can create upward pressure.
  • A ratio between those levels generally reflects a more balanced market.

Metro Vancouver ended July with an overall ratio of 13%. By property type, the figures were:

Detached homes were closest to the level associated with downward price pressure. However, one month of data is not enough to establish a firm trend. Prices are usually influenced by several months of sales, listings, interest rates, and buyer confidence.

Prices remain below last year

The MLS® HPI benchmark price for all housing types in Metro Vancouver was approximately $1,089,000 in July. That represents a 6.2% decline from July last year.

Benchmark prices by property type were:

The annual price decline is important, but the latest market conditions do not show strong pressure in either direction. Inventory has started to ease gradually as fewer sellers come forward, yet supply remains high compared with the 10-year average.

What this means for Fraser Valley clients

Market-wide figures provide useful context, but real estate decisions are local. Conditions can vary between Maple Ridge, Pitt Meadows, Mission, and other Fraser Valley communities. Property type, neighborhood, condition, and price point all affect how quickly a home sells and how buyers respond.

For buyers, July’s numbers point to a market where patience and preparation can help. For sellers, careful pricing and strong presentation are more important when competing with a large number of active listings. Property owners considering rental management may also benefit from reviewing their costs, tenant plans, and long-term investment goals.

As a long-established, family-owned real estate and property management company serving the region since 1969, Royal LePage Brookside Realty brings a local perspective to these decisions. A steady market does not mean every property follows the same pattern. It means the details matter more.