Apartments Drive Downward Trend in Metro Vancouver Home Sales
News related to:Greater Vancouver REALTORS® · 2 min read
VANCOUVER, BC, CANADA, October 5, 2026 /CourierPR/ -- Home sales in Metro Vancouver registered a 8.4 percent decline in September 2026 compared to the same month last year, according to the Greater Vancouver REALTORS® (GVR). The region saw a total of 1,717 sales in September 2026, a 25 percent decrease from the 10-year seasonal average of 2,289.
While overall sales were down about 8 percent, the apartment segment was particularly hit, accounting for a 18.6 percent decrease in sales from the 954 sales recorded in September 2025. By contrast, sales of detached and attached homes saw slight increases, with detached home sales up 4.2 percent and attached home sales up 0.6 percent.
The apartment segment's decline is a significant factor in the overall sales drop.
The apartment market's downturn is reflected in price drops, with the benchmark price for an apartment home in September 2026 at $682,500, a 6.2 percent decrease from the $724,000 recorded in September 2025. The detached home market also saw a price drop, with the benchmark price for a detached home at $1,784,700, a 7.3 percent decrease from the $1,926,000 in September 2025.
The total number of properties newly listed for sale in Metro Vancouver in September 2026 was 5,852, a 10.3 percent decrease from the 6,527 properties listed in September 2025. This was 5.7 percent above the 10-year seasonal average of 5,537. The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,394, a four percent decrease compared to September 2025 (17,079). This is 24.3 percent above the 10-year seasonal average (13,186).
The sales-to-active listings ratio for September 2026 is 10.9 percent, with the ratio being 9.7 percent for detached homes, 12.2 percent for attached homes, and 11.4 percent for apartments. 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.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,075,900, a 5.5 percent decrease over September 2025 and a 0.6 percent decrease compared to August 2026.