The Vancouver real estate market has been on a steady decline over the past few years — and new analysis reveals just how tough that has been for sellers.
Zealty, an online property search service, looked at regular residential sales in Greater Vancouver and the Fraser Valley, revealing just how many needed a second listing to actually sell.
Forty per cent of homes in Greater Vancouver and the Fraser Valley needed a second listing between January and September of this year, according to data Zealty shared with Daily Hive Urbanized.
The first listing had either expired or been pulled, after it “failed to sell on an earlier listing.”
In 2021, 19 per cent of homes needed a second listing to sell.
Zealty also found that the median home sale took 23 days to sell after it was re-listed, and it took 58 days from the first listing.
In 2021, it was 12 days.
Further, they found that “the second try costs money.” While homes that sold on the first try sold for 3.5 per cent below the initial asking prices, homes that sold on the second try sold for 13.5 per cent below the asking price.
Zealty reported that detached homes were “hit hardest,” with 43 per cent needing a second listing, and selling a whopping 15 per cent below their first asking price.
Zealty.ca/Supplied
West Vancouver has seen the most sluggish sales, with 50 per cent of its homes needing a second listing, a median of 105 days from first listing to sale.
West Vancouver is home to its fair share of luxury real estate, which is a sector of real estate that has been struggling the past couple of years. A report from Sotheby’s International Realty Canada found that between Jan. and Aug. 30 of this year, just 57 properties sold for over $4 million, a 25 per cent decrease from the same time in 2025, when 76 homes sold for over $4 million.
What happens next?
Recently, Royal LePage released its Q3 Housing Market Report, which found that home prices fell four per cent year-over-year in the Greater Vancouver region.
“The Vancouver housing market hasn’t come to a total standstill, but it is operating well below normal levels, with transaction volumes consistently running 25 to 30 per cent below our 10-year average,” said Randy Ryalls, Royal LePage Sterling Realty’s managing broker, in a release.
Royal LePage said they are forecasting this downward trend to continue, and that they predict the aggregate price of a home in Greater Vancouver will fall by 4.5 per cent in the fourth quarter of 2026, compared to the same quarter last year.
Ryalls said that the Vancouver real estate market is in a “stop-and-start environment, where momentum never really takes off, and pricing strategy is everything.”
“Some sellers are pulling properties off the market if they’re not desperate to sell, while homes that are aggressively priced and well-presented can still attract multiple offers. It is undeniably a good time to be a buyer right now, but it’s a challenging climate given the current state of the economy and anxiety over trade tensions.”
With files from Amir Ali