Greater Vancouver REALTORS® (GVR) published its September 2026 market report on October 2. The headline is that fewer homes sold in Metro Vancouver than a year ago. Look a little closer, though, and it's mostly a condo story. Here's my plain-language read of the numbers and what I think they mean for you.
What the September report says
According to GVR, there were 1,717 residential sales in Metro Vancouver in September. That's 8.4% fewer than the 1,875 sales in September 2025, and 25% below the 10-year average for the month.
The split by property type is the interesting part:
- Apartments: 777 sales, down 18.6% from 954 a year earlier
- Detached homes: 575 sales, up 4.2% from 552
- Attached homes (townhouses and similar): 358 sales, up 0.6% from 356
GVR's chief economist, Andrew Lis, said the overall drop "hides the fact the weakness is contained to the sizeable apartment segment." He added that sales of houses and townhomes are consistent with GVR's view that end-users, meaning people buying a home to live in, are "primarily driving the market," while investor demand waits for better conditions.
On the supply side, 5,852 homes were newly listed in September, down 10.3% from last year. There were 16,394 homes for sale in total, down 4% from a year ago but still 24.3% above the 10-year average for September.
Prices edged lower too. GVR's composite benchmark price for Metro Vancouver is $1,075,900, down 5.5% from September 2025. By type, the benchmark is $1,784,700 for a detached home (down 7.3% from last year), $1,016,700 for a townhouse (down 4.7%) and $682,500 for an apartment (down 6.2%).
The number I keep an eye on
GVR also tracks the sales-to-active listings ratio, which compares how many homes sold with how many were for sale. In September it was 10.9% overall: 9.7% for detached homes, 12.2% for attached homes and 11.4% for apartments.
GVR's historical analysis suggests prices tend to face downward pressure when this ratio stays below 12% for a while, and upward pressure when it stays above 20% for several months. Lis also noted that small monthly dips have added up: every segment is now showing price declines of about 3% since the start of the year.
What about the Tri-Cities, BC?
The same report includes benchmark prices by area. For all property types combined in September:
- Coquitlam: $971,700, down 6.3% from a year ago
- Port Coquitlam: $835,500, down 8.2%
- Port Moody: $1,011,500, down 5.8%
GVR describes a benchmark as the estimated sale price of a typical property in each market. It's a useful way to see the trend, but it isn't a price tag for any particular home. Two condos in the same building can sell for very different amounts.
My take
If you're buying: there are more homes for sale than the 10-year average for September, and sales are slower than usual, so you generally have more choice and more time to decide than in a busier market. I'd use that time well: get your pre-approval sorted, look closely at recent comparable sales before you make an offer, and keep subjects like financing and inspection in place. I can't tell you where prices go next, and nobody can promise that. What I can do is help you read the numbers for the specific neighbourhood and type of home you want. If you're starting a search in Coquitlam, Port Coquitlam or Port Moody, my buyer guide with Tri-Cities, BC neighbourhood notes is a good place to begin.
If you're selling: the report shows there are still buyers out there. House and townhouse sales were slightly up from last September. With this many listings, though, buyers can compare a lot of homes. Pricing based on recent sales near you, and making your home easy to show, really matters in a market like this. If you own a condo, keep in mind that apartments were the slowest-selling segment in September, so give yourself a realistic timeline.
If you're renting or relocating: this report covers sales, not rents, so I won't guess what it means for rent. If you're a newcomer moving to Greater Vancouver and weighing renting against buying, there's no need to rush the decision. Plenty of people rent first while they get to know the commute and the neighbourhoods. My Relocating to Greater Vancouver guide covers areas and commuting, and my relocation rental service for tenants can help you line up a rental before you arrive.
Quick FAQ
Which areas does the GVR report cover?
GVR's numbers cover Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, the Sunshine Coast, Vancouver, West Vancouver and Whistler.
Are prices lower than last year?
On GVR's benchmark, yes. The Metro Vancouver composite benchmark was 5.5% lower than in September 2025 and 0.6% lower than in August 2026.
Where can I read the full report?
The original news release and data tables are linked under Sources below. If you'd like help making sense of the numbers for a specific neighbourhood, get in touch.