British Columbia real estate prices: the figures, city by city

Are house prices falling in British Columbia?

Yes, in most markets: 8 of the 8 markets with a published annual change are down year over year, against 0 up. In the main markets: Vancouver −5.2%, Surrey −6.4%. Each change compares the latest month published with the same month a year earlier, on the same indicator as the price shown (MLS® benchmark, median or average).

Sharpest declines: Abbotsford (-9.9 %), Richmond (-8.3 %), Coquitlam (-7.1 %). The row-by-row detail is in the table below.

What is the average house price in British Columbia?

The average sale price is $1,049,811 in Kelowna (August 2026) and $539,144 in Prince George (Q3 2026), according to the local real estate boards. For Vancouver and Surrey, the board publishes a reference price, not an average: $1,068,600 (MLS® benchmark price, October 2026) and $860,000 (MLS® benchmark price, October 2026).

British Columbia housing market prices: what is the latest month published?

The most recent figures are for October 2026; of 8 markets with a published annual change, 0 are up and 8 down year over year (Vancouver −5.2%, Surrey −6.4%). Boards do not all publish the same month: every row of the table carries its own period.

For the price of a specific property, a local professional reads these figures for you: real estate broker in Vancouver, appraiser in Vancouver, real estate broker in Surrey and appraiser in Surrey.

British Columbia home prices by city (October 2026)

The table shows the headline value published for each market: the composite MLS® HPI benchmark where the board publishes one, otherwise the median, otherwise the average — the type is flagged on every row, and the annual change refers to that same indicator. Every row also states its reference period. Ranked from most to least expensive.

"HPI" = MLS® benchmark price (typical home, CREA method); "median"/"average" = closed-sale prices. The year-over-year change is the one published by the source for the same indicator; "—" = not published. Full detail (inventory, days on market, exact links) is on each city's page.

Average, median or MLS® benchmark price: what does each figure measure?

The average price is the total of the month's sale prices divided by the number of sales. It is exact, but it moves with the mix of sales: a month with more large homes sold pushes it up without any property gaining value.

The median price is the midpoint of closed sales: half of transactions close above it, half below. A few very expensive sales move it far less than the average.

The MLS® benchmark price (composite HPI) is computed by CREA from sales: it is the price of a "typical" property whose characteristics stay the same from month to month, across all categories (houses, townhouses, apartments). It is not the price of any actual sale, but it is the most accurate indicator of whether prices are rising or falling.

In practice: compare one city with another on the same indicator (the table's "indicator" column says which), and read the year-over-year change rather than the month-to-month move, which follows the season.

How to read these figures

The gap between markets is the dominant fact. Between Victoria ($1,288,600) and Prince George ($539,144), the reference price varies enormously within a single province — comparing your city to the provincial average is often misleading.

The one-year trend. Of the 8 markets with a published annual change, 0 are up and 8 down. Sharpest declines: Abbotsford (-9.9 %), Richmond (-8.3 %), Coquitlam (-7.1 %).

A reference price is not a guaranteed price. The HPI tracks a "typical home"; the median is the midpoint of closed sales. Neither tells you what a specific property is worth — for that, there is the verified appraiser and broker for your sector. And every year the purchase price carries a property tax whose rate varies widely from one city to the next: see the real property tax rate, city by city.

The provincial picture

Province-wide, CREA put British Columbia's average price at $952,768 in April 2026 (+0.8% year over year) and the benchmark at $889,800, in a buyer's market (6.8 months of inventory) — the country's most expensive province, but also one of the few where buyers hold the advantage.

Borrowing costs remain a key driver: see our policy-rate dossier for current rates and the Bank of Canada's decision calendar.

Methodology and sources

Where the figures come from. Every value comes from statistics published by the real estate boards (GVR, FVREB and local boards · CREA). Where a published figure is regional rather than municipal, the "scope" column says so explicitly, row by row.

Every figure carries its date. Boards publish at different paces: the "period" column gives the exact month or quarter of each figure. This table is regenerated on every update of our market data (last generated: November 5, 2026) — the same source feeds our city pages and our open market-data feed.

Our rule: no invented data. When a source does not publish a value, the cell shows "—" rather than an estimate. No figure on this page is computed, extrapolated or "adjusted" by Payotte.

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