A new report on the B.C. real estate market shows November sales were just another indication of what has been a year of decline.

The BC Real Estate Association (BCREA) says both sales and the average sale price were down last month compared to the same time last year.

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For November, the association’s ‘Multiple Listings Service’ (MLS) recorded just 5,052 sales.

“Total MLS residential sales dollar volume was $4.9 billion, down 14.5 per cent from the same time the previous year. BC MLS unit sales were 24.9 per cent lower than the ten-year average for the month of November,” said the report.

It says sales fell in every region and were even below historical averages.

Year-to-date, the total value of home sales has fallen to $62.9 billion, down 8 per cent from 2024.

Meanwhile, a report narrowing in on a specific subsection of the market forecasts conditions will remain soft through the first half of the new year.

RE/MAX published its 2026 Canadian Condominium Report, including that 2026 is expected to be a “transition year” as homebuyers gear up for a better 2027.

“For a financially well-prepared first-time buyer or upsizer, 2026 may present a rare opportunity to get into the market at a lower price point,” said RE/MAX President Don Kottick. “We expect this window to remain open for roughly six months before inventory levels begin to tighten.”

Nationally, the report says condo sales through the first 10 months of the year dropped significantly compared to the same period in 2024.

RE/MAX says condo sales were off by more than 20 per cent in the Fraser Valley and by 11 per cent in Greater Vancouver.

Prices in the region also reportedly dropped anywhere from about six to seven per cent.

Some areas of B.C., however, outperformed the wider market, including Squamish, Whistler, Pemberton and Mission.