Apartments lead sales downward

Home sales registered on the MLS® in Metro Vancouver* declined 8.4 per cent relative to September last year, weighed down by the apartment segment.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,717 in September 2026, an 8.4 per cent decrease from the 1,875 sales recorded in September 2025. This was 25 per cent below the 10-year seasonal average (2,289).

“While sales were down about eight per cent overall in September, this figure hides the fact the weakness is contained to the sizeable apartment segment, which typically accounted for half of sales in any given month in recent years,” said Andrew Lis, GVR chief economist and vice-president data analytics. “By contrast, sales of attached and detached homes finished slightly up from last September, consistent with our view that end-users are primarily driving the market, as investor-driven demand awaits more favourable market conditions.”

There were 5,852 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2026. This represents a 10.3 per cent decrease compared to the 6,527 properties listed in September 2025. This was 5.7 per cent above the 10-year seasonal average (5,537).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,394, a four per cent decrease compared to September 2025 (17,079). This is 24.3 per cent above the 10-year seasonal average (13,186).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for September 2026 is 10.9 per cent. By property type, the ratio is 9.7 per cent for detached homes, 12.2 per cent for attached, and 11.4 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“The combination of slow sales and inventory trending lower has kept home prices from declining too swiftly, with the composite price index drifting down 0.5 percent month –over-month,” Lis said. “While small month-over-month changes may not appear significant individually, the cumulative effect of many small changes has become more pronounced over time, with all market segments now showing price declines of about three per cent since the start of the year.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,075,900. This represents a 5.5 per cent decrease over September 2025 and a 0.6 per cent decrease compared to August 2026.

Sales of detached homes in September 2026 reached 575, a 4.2 per cent increase from the 552 detached sales recorded in September 2025. The benchmark price for a detached home is $1,784,700. This represents a 7.3 per cent decrease from September 2025 and a 0.8 per cent decrease compared to August 2026.

Sales of apartment homes reached 777 in September 2026, a 18.6 per cent decrease compared to the 954 sales in September 2025. The benchmark price of an apartment home is $682,500. This represents a 6.2 per cent decrease from September 2025 and a 0.5 per cent decrease compared to August 2026.

Attached home sales in September 2026 totalled 358, a 0.6 per cent increase compared to the 356 sales in September 2025. The benchmark price of a townhouse is $1,016,700. This represents a 4.7 per cent decrease from September 2025 and a 1.2 per cent decrease compared to August 2026.

Download GVR's September 2026 MLS® Residential Market Report.

It was a pleasure to help this client buy her first Vancouver Home, and I am grateful for her kind works she shared.

🎉 SOLD — and what a fabulous place to call HOME! 🎉

A huge congratulations to my wonderful first-time home buyers on finding their very own piece of Gastown! 

This one has SO much going for it — right in the middle of the action, surrounded by Gastown’s iconic cobblestone streets, great restaurants, coffee shops and that unmistakable Vancouver energy.

Inside? Bright, stylish and full of character. Floor-to-ceiling windows, beautiful wood floors and a cozy gas fireplace in the primary bedroom. The kitchen has been thoughtfully renovated with cabinetry all the way to the ceiling, a built-in pantry and loads of storage.

There’s a powder room for guests, a gorgeous ensuite, and a bright den that could easily be your home office, creative space — or second bedroom.

And the rooftop deck? WOW. Those views are pretty hard to beat!

But the best part of my job isn’t the keys, the condos or the rooftops…

It’s helping people find the place that feels like THEIR place.

I’m so happy we found the right home, in the right neighbourhood, at the right time for these first-time buyers.

Congratulations, you two! The next chapter starts NOW. 

#SOLD #Gastown #VancouverRealEstate #FirstTimeHomeBuyer #VancouverCondos #NewHomeowners #WendyMcLeod #ThinkRealEstate