Buyers and sellers step back in October

Home sales and new listings registered on the MLS® in Metro Vancouver* fell roughly ten per cent relative to October last year, respectively.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,024 in October 2026, a 10.2 per cent decrease from the 2,255 sales recorded in October 2025. This was 22.5 per cent below the 10-year seasonal average (2,612).

“October came with a few suspenseful distractions for buyers and sellers alike, with a somewhat surprising Bank of Canada rate hike and a snap provincial election among them,” said Andrew Lis, GVR chief economist and vice-president data analytics. “Between the onslaught of news coverage of the provincial and municipal elections, and the uncertainty surrounding where mortgage rates may be headed, it’s not entirely surprising that market participants took a step back in October to recalibrate.”

There were 4,805 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2026. This represents a 11.6 per cent decrease compared to the 5,438 properties listed in October 2025. This was 1 per cent above the 10-year seasonal average (4,758).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 15,688, a 4.3 per cent decrease compared to October 2025 (16,393). This is 24 per cent above the 10-year seasonal average (12,649).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for October 2026 is 13.4 per cent. By property type, the ratio is 11.6 per cent for detached homes, 16.5 per cent for attached, and 13.5 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.

“With one quarter-point rate hike now behind us, and financial markets pricing in a slight chance of another quarter-point hike in December, it’s possible some buyers may step in to take advantage of rate holds that will soon be expiring,” Lis said. “Still, it’s a difficult quandary for buyers who’ve watched prices edge lower throughout the year, only to see those affordability gains eroded by higher borrowing costs. Like much of 2026, it’s a continued pattern of one step forward, one step back in nearly all aspects impacting the housing market. Whether we finish 2026 stepping forward rather than back, remains the defining question that will set the tone for the New Year.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,068,600. This represents a 5.2 per cent decrease over October 2025 and a 0.7 per cent decrease compared to September 2026.

Sales of detached homes in October 2026 reached 643, a 7.2 per cent decrease from the 693 detached sales recorded in October 2025. The benchmark price for a detached home is $1,775,200. This represents a 7 per cent decrease from October 2025 and a 0.5 per cent decrease compared to September 2026.

Sales of apartment homes reached 892 in October 2026, a 16.7 per cent decrease compared to the 1,071 sales in October 2025. The benchmark price of an apartment home is $673,400. This represents a 5.9 per cent decrease from October 2025 and a 1.3 per cent decrease compared to September 2026.

Attached home sales in October 2026 totalled 468, a 1.9 per cent decrease compared to the 477 sales in October 2025. The benchmark price of a townhouse is $1,006,500. This represents a 5.5 per cent decrease from October 2025 and a 1 per cent decrease compared to September 2026.