Royal LePage released its third-quarter House Price Survey on October 15. In Greater Vancouver, the aggregate price of a home was $1,148,100. That is 4.0% lower than the third quarter of 2025, and 1.4% lower than the quarter before.
What that price actually measures
Royal LePage builds the aggregate price as a weighted average of the median values for the housing types it collects. RPS Real Property Solutions supplies the data, and the figures include resale homes and new builds. The survey covers 65 markets. A median is the middle value in that data, not a price tag for one home.
This is also not the benchmark in the Greater Vancouver REALTORS® report. I walked through September's MLS® sales and benchmarks in my October 6 post on Metro Vancouver home sales. The two reports measure different things, so I am not mixing their numbers here.
Inside Greater Vancouver, the median price of a single-family detached home was $1,617,200, down 5.6% from a year earlier. The median price of a condominium was $712,100, down 4.1%.
The country as a whole moved less. Canada's aggregate price was $810,000, down 0.8% from a year earlier and 0.6% from the previous quarter. The national median for a detached home was $856,500, down 0.5%. The national median for a condominium was $571,900, down 1.5%.
Randy Ryalls, managing broker at Royal LePage Sterling Realty, said transaction volumes are "consistently running 25 to 30 per cent below our 10-year average," and that a slight tightening of inventory "hasn't been enough to keep prices from declining." Homes that are "aggressively priced and well-presented can still attract multiple offers," he said, while some sellers who are not desperate to sell are pulling properties off the market.
The city of Vancouver, and their forecast
In the city of Vancouver, the aggregate price was $1,314,000, down 5.0% from a year earlier. The median detached price was $2,076,900, down 5.7%. The median condominium price was $739,100, down 7.7%.
This release does not give a separate price for Coquitlam, Port Moody or Port Coquitlam. I will not make one up. A condo at the city of Vancouver median is not a condo in the Tri-Cities, BC.
Royal LePage forecasts that the aggregate price of a home in Greater Vancouver will be 4.5% lower in the fourth quarter of 2026 than in the fourth quarter of 2025. The company says it revised that forecast downward. For Canada, it forecasts the aggregate price will be 1.0% higher than the same quarter last year, also revised down after a slower third quarter.
Phil Soper, Royal LePage's president and CEO, said this about the national market:
"The opportunity is there; the confidence to act remains elusive."
Those forecasts are Royal LePage's projection. I am not promising a lower price on a home in the Tri-Cities, BC, or that waiting will leave you ahead.
What this means for you
If you are buying: treat the 4.0% drop as background, then price the home from recent sales nearby. It does not tell you what a townhouse in Coquitlam or a condo in Port Moody is worth this week. Looking for a realtor in Coquitlam, Port Coquitlam or Port Moody? My guide for home buyers is where I keep notes on those neighbourhoods, including for a first purchase. If you are looking at a presale condo in Port Moody or Coquitlam, this survey is still not a price for that project. The medians include new builds. They do not replace the disclosure statement or the resales on the same street.
If you are selling: Ryalls' useful line is about price and presentation. Which path fits you, selling now or waiting, depends on your timeline and the sales near you. I will not guess the next quarter.
If you are renting, or you are a newcomer: this release is about purchase prices, not the rent on the listing you want. A lower sale price does not set that rent. If you are moving to Greater Vancouver, choose the commute and the monthly number before you arrive. My guide to relocating to Greater Vancouver covers neighbourhoods from Vancouver out to the Tri-Cities, BC.
If you want help finding a place before the move, 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.