METRO VANCOUVER SEPTEMBER OVERVIEW
Metro Vancouver home sales were down 8.4% compared with September 2025, with 1,717 homes changing hands compared with 1,875 a year earlier. This weakness was concentrated heavily in the apartment market, while detached and attached home sales were actually slightly higher than they were last September. So rather than one broad-based market moving in the same direction, we're seeing different segments behave very differently — and that distinction is becoming increasingly important for both buyers and sellers.METRO VANCOUVER SALES
Metro Vancouver recorded 1,717 residential sales in September 2026, an 8.4% decline from the 1,875 sales recorded in September 2025. September 2026 sales were also 25% below the 10-year seasonal average of 2,289 sales. This continues a trend we've been watching throughout 2026, where buyers are acting selectively and individual markets may experience shifts independent of the broader trend.
Sales by Segment (year over year):
- Detached sales increased by 575 (4.2%).
- Townhome sales increased by 358 (0.6%).
- Apartment sales decreased by 177 (18.6%).
METRO VANCOUVER APARTMENT SALES
This is a pretty dramatic difference and apartments have historically represented roughly half of Metro Vancouver's monthly sales, so when that segment slows significantly, it has a noticeable impact on the overall market statistics. And so we ask, what factors are likely contributing to this decline in apartment sales?
- Affordability remains a challenge, even after the price adjustments we've experienced.
- Investor demand appears to be sitting on the sidelines waiting for more favourable conditions.
- End-users (ie buyers who intend to live in their property) appear to be driving a larger share of the market.
METRO VANCOUVER DETACHED AND TOWNHOUSE PRICES
In September, the detached market provided the most positive part of the story, with 575 detached sales, up 4.2% from 552 last September. This significant increase suggest that sellers are pricing their homes attractively and buyers are noticing. The benchmark price for a detached home was $1,784,700, down 7.3% from September 2025 and another 0.8% from August 2026.The townhouse (attached) market is hinting that it might follow the trend with 358 sales in September, up slightly from 356 last year. The benchmark price for a townhouse is now $1,016,700., down 4.7% from September 2025 and 1.2% from August 2026. Townhomes offer some of the size and amenities of a detached home, with the lower price point and with the detached benchmark prince still well above $1.7 million, that middle option continues to be important for families and move-up buyers.
METRO VANCOUVER MARKET INVENTORY OVERVIEW
Inventory levels continue to decrease, but we are in no way running out of homes. September's total inventory sits 4% below September 2025, while remaining 24.3% above the 10-year seasonal average. New listings were still 5.7% above the 10-year seasonal average, though down 10.3% year over year.
METRO VANCOUVER SALES-TO-ACTIVE LISTING OVERVIEW
Following the trend we've seen throughout 2026, the overall sales-to-active listings ratio in September was 10.9%.That's below the 12% level that GVR identifies as a point where sustained downward pressure on prices can occur.
September Sales-To-Active Ratio by Segment:
- Detached: 9.7%
- Attached: 12.2%
- Apartments: 11.4%
METRO VANCOUVER BENCHMARK PRICE
The Metro Vancouver composite benchmark price is now $1,075,900 which is only a 0.6% lower than August 2026. However, while the month-over-month decline doesn't seem significant on its own, the bigger picture tells us so much more. According to GVR, all major market segments are now showing price declines of approximately 3% since the beginning of 2026.September benchmark prices
- Detached: $1,784,700 (down 7.3% year over year and 0.8% from August).
- Apartment: $682,500 (down 6.2% year over year and 0.5% from August).
- Townhouse: $1,016,700 (down 4.7% year over year and 1.2% from August).
METRO VANCOUVER MARKET FOR BUYERS
For buyers, I think September's numbers reinforce a message we've been seeing for much of 2026:
- There is no need to rush, do your homework, get the inspection.
- There is still a significant amount of inventory available.
- Prices are lower than they were a year ago.
- The overall sales-to-active listings ratio remains below the level associated with upward price pressure.
- And if you're looking at apartments, there may be even more negotiating room given the significant decline in apartment sales.
METRO VANCOUVER MARKET FOR SELLERS
For sellers, September has reinforced the importance of being realistic. This market is not rewarding sellers simply because they own a property, buyers have choices and have become more selective.
- This is particularly important in the apartment market: there are 5 comparable units in your building and/or neighbourhood.
- Your listing needs to give buyers a reason to choose it: price, condition, layout, amenities.
- Make your property stand out and select a realistic pricing strategy.
METRO VANCOUVER SEPTEMBER MARKET SUMMARY
If I had to sum up the September market in one sentence, it would be: Metro Vancouver real estate is still adjusting, but the adjustment isn't happening equally across every type of home. The 8.4% decline in overall sales sounds concerning until you look underneath the headline. Detached sales are actually higher than they were a year ago, and townhouse sales are essentially unchanged. The big decline is apartments.
For buyers, that creates opportunity — especially if you're financially prepared and willing to be patient.
For sellers, it creates a different challenge. You need to understand what buyers are comparing your property against and price accordingly.
Because if inventory keeps falling while detached and attached sales remain relatively resilient, the market could begin to look quite different heading into 2027. For now, though, we're still in a market where patience, preparation and good advice matter more than trying to time the perfect moment.
Source: GVR
