Public Service Announcement:
Before I summarize the market last month, I want to put out a Public Service Announcement: The real estate "sale" is reaching epic proportions.
As reported in the Globe and Mail, some developers are selling condos at prices so low that they are requiring buyers to sign non-disclosure agreements (NDAs) when they purchase. This means the buyers are not allowed to disclose how little they paid in order to protect the values of other units.
Another strategy developers are using is to offer significant "decorating bonuses". This effectively lowers the purchase price, BUT on the record, buyers will be seen to be paying a lot more than they actually pay out after being credited with the decorating bonus. For example, rather than lowering a condo from $1 million to $900,000, the developer will keep the $1 million dollar sales price BUT credit the buyer with $100,000 for "decorating". Effectively, the buyer has bought the condo for $900,000.
What does this mean? Buyers are getting amazing deals, especially with condos. Even though we have seen a pickup in sales this past month, buyers are still doing very well. These arrangements allow developers to sell units for less, without lowering publicly available values (thereby protecting buyers who bought previously at higher prices and now need financing). Unfortunately, this makes it a bit more difficult to determine the actual value of condos because the available sale price information is inaccurate. While these practices are definitely legal, they protect developers while putting potential buyers at an informational disadvantage. However, when developers must adopt these measures, there are clearly deals to be had.
While this benefits buyers of new builds, it further disadvantages sellers of "used" condos. Many great condos are available at great prices; often with better floor space and layouts; however, many buyers opt for newer units, especially where developer incentives are available.
So of course, as we have been saying for over a year, if you are thinking of buying, selling to move up in the market, or getting into real estate investment, etc. the opportunities are amazing. It is definitely a good time to consider this type of purchase.
Back to the Real Estate Clock: What happened in June?
If you have been reading this newsletter or otherwise following our local real estate market, you know that we have had a VERY slow Spring market. Spring is usually the busiest season of the year, but hopefully that will not be the case this year, or we are in REAL trouble. I have personally never experienced such a slow Spring (which means working a lot but selling a little, not great for my sellers), and I know a lot of others who are in the same boat. The spring sales statistics clearly show this. However, June brought a surprising jump in sales right when the market typically goes quiet for the summer season. With prices continuing to soften, buyers are finally deciding to act. This is good because too much delay definitely sets up a risk of "missing the boat".
As Andrew Lis from Greater Vancouver Realtors points out, "June saw a pattern of broad gains in home sales across all home types relative to the same time last year, which has been a rare occurrence in recent years". Normally, June is when we start to see sales taper off; July and August can be slower than Christmas. As a result, many sellers take their homes off the market for the summer. This year, we may make an unusual recommendation: keep your home listed and see if July follows the pattern set in June.
If we look at the June 2026 numbers, last month in Greater Vancouver, we saw:
- Sales of all types of properties were UP 9.6% from June 2025.
- Sales were 12.4% BELOW the 10-year seasonal average (2,728).
- The number of homes listed for sale last month was 17,017, which is DOWN 3.1% when compared with June 2025.
- This is 30.2% higher than the 10-year average (13,070).
- The number of homes newly listed for sale was DOWN 6.0% from June 2025.
- This is 5.9% OVER the 10-year average (5,609).
- Detached home sales were UP 13.7% from June 2025.
- The benchmark price for detached homes was DOWN 7.1% when compared to June 2025, and a 0.3% decrease compared to May 2026.
- The sales-to-active listings ratio overall for all types of homes was 14.6%; for detached homes, the ratio is 12.0%.
- Prices trend downward when the ratio is below 12% for a sustained period.
For Buyers: You still have an excellent window of opportunity. Active listings are well above the ten-year average, which gives you the space to carefully weigh your options and negotiate without the pressure of a bidding war. The pace of new listings is starting to slow down, so this selection will not last forever. Take your time, find the right house, and do not be afraid to walk away if a seller is demanding yesterday's prices. If you are looking for a condo and have some flexibility on where you want to go, there might be some unexpected "sale" prices.
For Sellers: Do not let a slight uptick in sales trick you into overpricing. Today's buyers are incredibly pragmatic; they buy the house that presents the best value. If your home sits without offers, your price is wrong. You have likely built up significant tax-free equity over your years of ownership. Get the price right from day one, or be prepared to wait. Many people who bought recently are losing money when they sell; if you are lucky enough to have bought pre peak prices, you will still do well in this market.
This market shifts quickly, and timing matters. Whether you need a current market valuation or want to map out a plan for the fall, I am always happy to chat about all things real estate.
Feel free to contact me anytime… or book an appointment!