September 2026: apartments pull sales down, buyers gain room

Home sales across Greater Vancouver slipped again in September, but the slowdown isn’t spread evenly. Detached and townhouse sales actually rose a little from last year. The drop came almost entirely from apartments.

Sales and listings

According to Greater Vancouver REALTORS® (GVR), 1,717 homes sold in September 2026. That’s 8.4% fewer than in September 2025, and 25% below the 10-year average for the month.

• Apartments: 777 sales, down 18.6% from last year
• Detached houses: 575 sales, up 4.2%
• Townhouses: 358 sales, up 0.6%

Sellers listed 5,852 new homes, 10.3% fewer than a year ago. There are now 16,394 homes for sale across the region, 4% fewer than last year but still 24.3% above the 10-year average. In other words, buyers have plenty to choose from.

GVR’s chief economist, Andrew Lis, put it this way: “While sales were down about eight per cent overall in September, this figure hides the fact the weakness is contained to the sizeable apartment segment, which typically accounted for half of sales in any given month in recent years.”

Prices

The benchmark price for all home types is $1,075,900, down 5.5% from a year ago and 0.6% from August.

Home type	Benchmark price	vs. last year
Detached	$1,784,700	−7.3%
Townhouse	$1,016,700	−4.7%
Apartment	$682,500	−6.2%

In the areas I work in most:

Area	Benchmark price	vs. last year
Burnaby East	$982,400	−6.3%
Burnaby North	$877,100	−7.4%
Burnaby South	$972,800	−7.2%
Richmond	$1,015,800	−6.8%
Vancouver East	$1,120,200	−5.0%
Vancouver West	$1,206,600	−5.3%

Source: GVR September 2026 stats package, MLS® Home Price Index.

One number to watch is the sales-to-active-listings ratio: 10.9% in September. GVR notes that when it stays below 12% for a while, prices tend to come under downward pressure.

What it means for you

If you’re buying: this is a market where you can take your time. With more homes to choose from and fewer competing buyers, especially for condos, there’s more room to negotiate on price and to keep conditions like financing and inspection in your offer. Keep in mind that the Bank of Canada raised its rate on October 28, so get your mortgage pre-approval updated before you shop.

If you’re selling: pricing matters more than ever. Buyers are comparing many similar homes, so a well-prepared home listed at the right price from day one will sell faster than one that has to come down later. Detached and townhouse sales are holding up better than condos, which is useful to know if you’re planning a move from one to the other.

GVR publishes October’s numbers in early November, and I’ll update this page when they’re out.

This article is general information, not legal, tax or financial advice.