Metro Vancouver’s housing market continued to cool in September, with overall home sales down 8.4% compared with September 2025. The decline was driven primarily by the apartment market, while detached and attached home sales recorded modest year-over-year increases.
According to Greater Vancouver REALTORS® (GVR), 1,717 homes sold in September, 25% below the 10-year seasonal average. Meanwhile, the number of properties available for sale remained elevated at 16,394 listings, 24.3% above the 10-year average.
Key Market Highlights
- Home sales: 1,717, down 8.4% year-over-year.
- Active listings: 16,394, up 24.3% compared with the 10-year seasonal average.
- Benchmark home price: $1,075,900, down 5.5% year-over-year and 0.6% from August.
- Detached homes: 575 sales, up 4.2% year-over-year; benchmark price of $1,784,700, down 7.3%.
- Apartments: 777 sales, down 18.6% year-over-year; benchmark price of $682,500, down 6.2%.
- Townhomes: 358 sales, up 0.6% year-over-year; benchmark price of $1,016,700, down 4.7%.
What Does This Mean for Buyers and Sellers?
For Buyers: Elevated inventory and declining benchmark prices may provide more choice and greater negotiating flexibility. Buyers can take time to compare properties, assess value and negotiate terms.
For Sellers: Pricing and presentation remain important in a market where buyers have options. Although detached and attached home sales showed some resilience, prices across all three property types have declined since the beginning of the year. A realistic asking price, effective marketing and a clear understanding of competing listings are essential.
Looking Ahead
September’s results highlight a market with slower demand, particularly for apartments, and inventory levels that remain above historical averages. GVR reports that gradual month-over-month price declines have accumulated, with benchmark prices across all market segments down approximately 3% since the beginning of 2026.
At YourHomeTeam®, we believe informed decisions begin with understanding the local market. Whether you’re considering buying, selling or simply planning ahead, our team can help you evaluate current conditions, assess your options and develop a strategy aligned with your goals.
Download GVR’s September 2026 MLS® Residential Market Report.
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As for the rest of the province …
Most Markets Remain Balanced Amidst Mounting Headwinds
Vancouver, BC – October 14, 2026. The British Columbia Real Estate Association (BCREA) reports that 5,254 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in September 2026, down 8.9 per cent from September 2025. The average MLS® residential price in BC in September 2026 was down 2.4 per cent at $924,279 compared to $946,767 in September 2025.
Total MLS® residential sales dollar volume was $4.9 billion, down 11 per cent from the same time the previous year. BC MLS® unit sales were 25.8 per cent lower than the ten-year average for the month of September.
“Home sales dipped in September after an encouraging summer as spiking oil prices prompted speculation of impending Bank of Canada rate hikes,” said BCREA Chief Economist Brendon Ogmundson. “However, we are also seeing inventory levels decline on a monthly basis, which should help markets remain in balance.”
Year-to-date, BC residential sales dollar volume is down 7 per cent to $48.11 billion, compared with the same period in 2025. Residential unit sales are down 5.9 per cent year-over-year at 51,310 units, while the average MLS® residential price is down 1.1 per cent to $937,644.
For the complete statistics release, including detailed tables, click here.
