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Metro Vancouver market update: October 2026

Published 2026-11-03

October brought a surprise Bank of Canada rate hike and a snap provincial election, and both buyers and sellers stepped back. Sales and new listings each fell about 10% from last October, and benchmark prices eased again. Here are the numbers that matter and what they mean if you are thinking of moving.

The headline numbers

2,024home sales10.2% fewer than October 2025, and 22.5% below the 10-year October average

4,805new listings11.6% fewer than October 2025, but 1% above the 10-year average

15,688homes for sale4.3% fewer than a year ago, but 24% above the 10-year average

13.4%sales-to-active ratioDetached 11.6% · townhouse 16.5% · apartment 13.5% (up from 10.9% overall in September)

Benchmark prices

Property type	Benchmark price	vs. a year ago	vs. September
All residential	$1,068,600	−5.2%	−0.7%
Detached	$1,775,200	−7.0%	−0.5%
Townhouse	$1,006,500	−5.5%	−1.0%
Apartment	$673,400	−5.9%	−1.3%

The benchmark price tracks a typical home of each type, so it moves less than average prices do when the mix of homes sold changes.

Sales by property type

Townhouses held up best, with 468 sales, down just 1.9% from last October. Detached sales fell 7.2% to 643. Apartments again drove the overall drop, with 892 sales, down 16.7%.

What it means

Greater Vancouver REALTORS® uses the sales-to-active listings ratio as a gauge: below about 12% for a sustained period tends to push prices down, and above 20% tends to push them up. October's 13.4% is the strongest reading in months and moves the region toward balanced. Townhouses, at 16.5%, are firmly balanced, while detached homes, at 11.6%, are still on the buyers' side.

The rate hike works both ways. Higher borrowing costs eat into the affordability buyers gained as prices eased this year, but GVR expects some buyers with expiring rate holds to act before rates move again, with markets pricing in a small chance of another hike in December.

If you are selling

Price against today's benchmark, which is about 5% below last year. New listings fell even faster than sales, so there is a little less competition than the inventory total suggests, especially for townhouses. Presentation and a sharp launch week still decide who sells first.

If you are buying

You still have choice and room to negotiate, particularly on detached homes and apartments. If you have a rate hold, check when it expires and get your pre-approval updated, since the higher rate changes what you can afford. Waiting may bring lower prices, but not necessarily a lower monthly payment.

Source: Greater Vancouver REALTORS® monthly market report for October 2026, released November 2, 2026. Figures cover the Greater Vancouver REALTORS® area. For your home or neighbourhood, ask Alan for a valuation.