More than 14,000 new condos unsold in Metro Vancouver as presales fall to record low
Rennie and MLA Canada report a record-low sales pace for new condominiums across Metro Vancouver, with no concrete tower presales launched in all of 2026.
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More than 14,000 new condominiums sit unsold across Metro Vancouver, and new sales reached a record low in the first half of 2026, according to two market reports. Daily Hive Vancouver reported Monday on Rennie's Fall 2026 market intelligence report and MLA Canada's October 2026 report.
Rennie counted more than 14,000 unsold new condominiums across Metro Vancouver at the end of June 2026. About 56 per cent of those homes, or nearly 8,000, were under construction. Another 15 per cent were in projects where construction had not yet started, and the rest were already finished and waiting for buyers.
Sales at a record low
Only 1,340 new condominiums sold across Metro Vancouver in the first six months of 2026, Rennie reports. The firm calls this a record low. "Metro Vancouver's condo market isn't really a pre-sale market anymore, it's a new-home market," said Ryan Wyse, market intelligence manager at Rennie, as quoted by Daily Hive.
Rennie notes that no concrete condominium tower presale launches occurred in Metro Vancouver in all of 2026. In September 2026, only two presale projects launched across the whole region, releasing a combined 32 homes. MLA Canada says neither reported a sale and that September's release volume was about 96 per cent below the five-year average for that month.
More choice for buyers, easing rents
Buyers now have a large selection. Greater Vancouver Realtors listed 16,394 active listings in September 2026, which is 24.3 per cent above the 10-year seasonal average. Condominium resales fell 18.6 per cent from September 2025.
On the rental side, MLA Canada counted 1,001 secured purpose-built rental homes completing construction in September 2026, the largest monthly total of 2026. Average advertised rents in newer buildings tracked by MLA Canada fell to $2,671 per month in September from $2,711 in August. Vancouver's Westside averaged $3,136, Downtown Vancouver $3,039, and Vancouver's Eastside $2,814.
Rennie says it expects unsold inventory to keep rising before the market turns. Residents looking to buy a condo or find a rental in Metro Vancouver can see active listings through local real estate boards; the full reports from Rennie and MLA Canada are published to subscribers.
Questions this story answers
How many new condos were unsold in Metro Vancouver?
According to Rennie's Fall 2026 report, more than 14,000 new condominium homes were unsold across Metro Vancouver at the end of June 2026. About 56 per cent of those, or nearly 8,000 homes, were under construction. Another 15 per cent were in projects where construction had not yet started.
How many new condos sold in Metro Vancouver in the first half of 2026?
Only 1,340 new condominiums sold across Metro Vancouver in the first six months of 2026, according to Rennie. The firm says this is a record low for the region. By comparison, September 2026 alone saw 1,717 total home sales (new and resale combined) in Greater Vancouver Realtors' area, showing how far new condo sales have fallen behind the broader market.
Were there any new presale condo launches in 2026?
Rennie reports no concrete condominium tower presale launches in Metro Vancouver in all of 2026. In September 2026, only two presale projects launched across the region, releasing a combined 32 homes. MLA Canada says neither reported a sale. September 2026's total release volume was about 96 per cent below the five-year average for that month, according to MLA Canada.
How did September 2026 condo resales compare to the year before?
Greater Vancouver Realtors reported 1,717 total home sales in September 2026, down 8.4 per cent from September 2025 and 25 per cent below the 10-year average for that month. Condominium resales fell 18.6 per cent from September 2025, while single-family house and townhouse sales were higher.
How many active listings were there in Metro Vancouver?
Greater Vancouver Realtors had 16,394 active listings in September 2026, which is 24.3 per cent above the 10-year seasonal average. The Fraser Valley Real Estate Board's area had 9,763 active listings, 31 per cent above its 10-year seasonal average.
What is happening with purpose-built rental housing?
In contrast to the slow condo market, purpose-built rental completions are rising. MLA Canada counted 1,001 new secured purpose-built rental homes completed in September 2026 across six projects, the largest monthly total of 2026 to that point. Average advertised rent in newer buildings tracked by MLA Canada was $2,671 per month in September 2026, down from $2,711 in August.
What are rents like in different parts of Vancouver?
Among areas tracked by MLA Canada in buildings completed within the last five years, Vancouver's Westside had the highest average monthly rent at $3,136 in September 2026, followed by North Vancouver at $3,076 and Downtown Vancouver at $3,039. Burnaby averaged $2,838 and the Vancouver Eastside $2,814.
What does this mean for people looking to buy or rent in Vancouver?
Buyers have more choice and lower prices than in recent years, with active listings 24.3 per cent above the 10-year seasonal average in Greater Vancouver Realtors' area as of September 2026. Completed and unsold condos are available for immediate occupancy, Rennie says. Renters in newer buildings are seeing rents ease: the average advertised rent tracked by MLA Canada dropped from $2,711 in August to $2,671 in September 2026.
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