Vancouver Home Prices Chart: 21 Years of Benchmark Prices by Type (2005 to 2026)

The benchmark Greater Vancouver home cost $349,600 in January 2005. In August 2026 it was $1,081,900, about 3.1 times as much. It peaked at $1,252,800 in April 2022 and is down 13.6% since.

Below are the charts: 21 years of MLS® Home Price Index benchmark prices for Greater Vancouver from the Canadian Real Estate Association (CREA), split by detached, townhouse and apartment, with the last 10 years broken out, an inflation-adjusted line, and the Fraser Valley next to it. GVR's own September 2026 release, the newest number, has the composite at $1,075,900.

Sources: CREA MLS® Home Price Index data download, Greater Vancouver, not seasonally adjusted, January 2005 to August 2026; Statistics Canada, Consumer Price Index, Vancouver, all-items (table 18-10-0004-01); Greater Vancouver REALTORS®, September 2026 stats package. Ten-year changes are Aug 2016 to Aug 2026.

Greater Vancouver home prices, 2005 to 2026

The "benchmark" is the MLS® HPI's estimate of what a typical home with fixed features would sell for. It's built to strip out the swings you get from averages and medians, where a month with more condo sales looks like a price drop. CREA's Greater Vancouver series covers the area of Greater Vancouver REALTORS® (GVR), which lists Bowen Island, Vancouver, Burnaby, Richmond, the North Shore, the Tri-Cities, New Westminster, Maple Ridge and Pitt Meadows, South Delta, Squamish, Whistler and the Sunshine Coast.

The shape is simple. A steady climb from 2005 to 2008, a short drop, a jump in 2015 and 2016, a flat-to-down stretch to 2019, the pandemic run to the April 2022 peak, a sharp drop through the rest of 2022, a partial rebound into 2024, and a slide since then to a new low. The line in 2026 is back near where it was in mid-2021.

Detached, townhouse and apartment prices over time

Source: CREA MLS® Home Price Index data download, Greater Vancouver, not seasonally adjusted, January 2005 to August 2026.

The detached line is the one that moves the region's average around. It went from $533,600 in 2005 to a peak of $2,088,000 in April 2022, and it's now $1,804,900. The gap between a detached house and an apartment was about $318,700 in 2005. Today it's $1,118,700.

Apartments peaked later than everything else, in April 2024, two years after houses and townhouses. They're down 11.8% from that peak. GVR's September 2026 benchmarks are $1,784,700 for detached, $1,016,700 for townhouses and $682,500 for apartments. GVR's detached figure is a little different from CREA's single-family series, so I keep the two apart.

Vancouver house prices over the last 10 years

Source: CREA MLS® Home Price Index data download, Greater Vancouver, not seasonally adjusted, January 2005 to August 2026.

Over ten years, a Greater Vancouver detached house is up 4.2%. Consumer prices in Vancouver rose 33.0% over the same stretch. In real terms, the typical house has lost value since 2016.

Townhouses are the opposite story: up 50.9%, well ahead of inflation. Apartments are up 38.2%. My read: ten years ago the family that couldn't afford a house bought a townhouse, and enough of them did it for long enough to close a lot of the gap. In 2016 a townhouse benchmark was 39% of the detached benchmark. Now it's 57%.

GVR's own 10-year figures in its September 2026 release say the same thing in slightly different numbers: detached +4.5%, townhouse +49.5%, apartment +36.8%, composite +7.5%.

Year by year: average benchmark price

7 of the last 21 years were down years on this measure. The biggest up years were 2016 (+25.0%), 2006 (+17.2%), 2021 (+14.9%) and 2015 (+14.4%). The worst was 2019 at −11.3%. So far 2026 is tracking −5.5% on 2025's average, which would make it the second-worst year since 2005 if it holds.

Source: CREA MLS® Home Price Index data download, Greater Vancouver annual averages (2005–2025). The 2026 row averages January to August monthly benchmarks and is calculated by EstateBlock, rounded to the nearest $100.

Vancouver home prices adjusted for inflation

Vancouver's consumer price index is up 59% since January 2005. Run the benchmark through it and the 2022 peak of $1,252,800 is worth about $1,426,000 in today's dollars. Today's $1,081,900 is 24% below that in real terms, a much bigger drop than the 13.6% headline number.

The 2016 comparison is the one that surprised me. The benchmark in August 2016 was $1,014,700, which is about $1,349,000 in today's money. The typical home costs less now, in real terms, than it did ten years ago. It's still about 1.9 times its 2005 level after inflation, though.

The three big drops since 2005

Source: CREA MLS® Home Price Index data download, Greater Vancouver, not seasonally adjusted, January 2005 to August 2026. Peaks and lows picked by EstateBlock from the monthly series; the current decline's "low point" is the lowest month so far.

By percentage, the deepest of the three was the 2017 to 2019 decline, 15.6% over 24 months. The 2008 drop was fast: 13.7% in 9 months, then a full recovery within about a year. The current one has lasted longest from peak to its lowest point so far, and it hasn't been a straight line. The composite fell 11.8% from April 2022 to December 2022, climbed back 9.3% to $1,206,900 by May 2024, and has slid since to $1,081,900, the lowest since the peak. The Bank of Canada made its first rate increase of that cycle on March 2, 2022, and prices topped out the next month. The policy rate went to 5% by July 2023 and has been cut back to 2.25%, where the Bank held it on September 2, 2026. The next decision is October 28.

Lower rates haven't turned this chart around yet. If you want the forecasts for what comes next, I keep them, with their sources, in the 2027 predictions post.

Greater Vancouver vs the Fraser Valley

Indexed to January 2005, the Fraser Valley Real Estate Board's area (Surrey, Langley, Abbotsford, Mission, North Delta and White Rock, per its September 2026 package) has now risen slightly more than Greater Vancouver: 313 against 309.5. Most of that came in the pandemic run, when the Fraser Valley index went to 428.4 in March 2022. It has fallen harder since, down 26.9% from its peak against 13.6% for Greater Vancouver. The Fraser Valley composite benchmark was $869,900 in August 2026. For the month-by-month numbers on both boards, see the Greater Vancouver market update.

What sellers are asking today

Source: EstateBlock.com live listings, snapshot taken October 15, 2026 (active listings, asking prices). These are asking prices, not sale prices or benchmarks.

The benchmark is a sale-price model; these are what sellers listed on EstateBlock want right now. A median Vancouver condo ask of $798,985 sits above the regional apartment benchmark because the city's condos are pricier than the suburbs'. Use the Vancouver listings map to see where a specific home lands.

What I take from 21 years of prices