The British Columbia Real Estate Association published its September sales figures today. Across B.C., 5,254 homes sold on the Multiple Listing Service, down 8.9% from September 2025.
What today's release says
Those 5,254 sales were 25.8% below the 10-year average for September. The total dollar value of the sales was $4.9 billion, down 11% from a year earlier.
The average MLS price in B.C. was $924,279. That is 2.4% lower than $946,767 in September 2025. On its housing monitor, BCREA explains the average as total sales dollars divided by the number of sales. It also says the mix of homes can move that number. In the association's example, if buyers shift toward apartments rather than single-family homes, the average price falls when everything else stays the same. I am not saying that mix is what happened in September. I am saying a provincial average is a blunt figure.
Brendon Ogmundson, BCREA's chief economist, said:
"Home sales dipped in September after an encouraging summer as spiking oil prices prompted speculation of impending Bank of Canada rate hikes."
He added, "However, we are also seeing inventory levels decline on a monthly basis, which should help markets remain in balance." The release gives that comment and does not give a count of active listings, so I will not invent one.
The Canadian Press, reporting the same release, said September sales were lower than a year earlier in every region other than the South Peace River and the Kootenays.
For 2026 so far, BCREA counts 51,310 residential sales, down 5.9% from the same period in 2025. Sales dollar volume for the year to date is $48.11 billion, down 7%. The year-to-date average price is $937,644, down 1.1%.
Price a home in the Tri-Cities, BC from nearby sales
$924,279 is the average of homes that sold across the whole province in September. A townhouse in Coquitlam, a condo in Port Moody, and a house in Port Coquitlam each need their own recent sales.
If you are buying in the Tri-Cities, BC, I start with similar homes that sold nearby, then look at condition, strata fees, and the commute. Greater Vancouver REALTORS® published a separate September report for Metro Vancouver. I wrote that up on October 6. Today's figures are the provincial count.
I work in Port Moody, and I help buyers and renters across Greater Vancouver. A province-wide headline is background. The home in front of you is the one to price.
October 28 is the next rate announcement
Ogmundson tied the September dip to speculation that the Bank of Canada might raise rates after oil prices jumped. The decision itself is still ahead.
The Bank of Canada target for the overnight rate is 2.25%. The September 2, 2026 announcement left it unchanged. The next announcement is Wednesday, October 28, together with the Monetary Policy Report.
I will leave the guesswork there. A lender qualifies you on your income, your debts, and the rate on your file. If you are buying, ask what you qualify for before you write an offer, and keep a financing condition. When a lender offers a rate hold, you can keep shopping while you wait for October 28.
Buyers, renters, and newcomers
If you are buying: September sales sat 25.8% below the 10-year average for the month, so take the time to compare homes and price each one from recent sales nearby. Looking for a realtor in Coquitlam, Port Coquitlam, or Port Moody? My guide for home buyers is where I keep the neighbourhood notes.
If you are renting, or you are a newcomer: this release counts homes that sold. The rent you budget is the rent on the listing you want. If you are moving to Greater Vancouver, set the commute and the monthly number before you arrive. My guide to relocating to Greater Vancouver covers neighbourhoods from Vancouver to the Tri-Cities, BC.
My relocation rental service for tenants covers all of Greater Vancouver. The fee is $1,500 plus GST, paid by the tenant: $750, non-refundable, at the start, and $750 once a rental is secured. Reach out 4 to 6 weeks before the move.