Vancouver Home Sales Fall 8.4% as Apartments Drag Market

Home sales in Metro Vancouver fell 8.4% from a year earlier to 1,717 in September, 25% below the 10-year seasonal average, according to Greater Vancouver Realtors (GVR). The weakness was concentrated in apartments.

Sales by type

• Detached: 575 sales, up 4.2% from 552

• Attached (townhouses): 358 sales, up 0.6%

• Apartments: 777 sales, down 18.6% from 954

Prices

• All residential benchmark: C$1,075,900, down 5.5% year on year and 0.6% from August

• Detached: C$1,784,700, down 7.3%

• Townhouse: C$1,016,700, down 4.7%

• Apartment: C$682,500, down 6.2%

 

Supply

New listings were 5,852, down 10.3% from a year ago but 5.7% above the 10-year average. Total inventory fell 4% to 16,394, still 24.3% above the long-term average.

What GVR's economist says

Chief economist Andrew Lis said the overall sales dip hides the fact that the weakness is contained to the large apartment segment, which has typically made up about half of monthly sales. He said slow sales combined with inventory trending lower have kept prices from falling too fast.

The bigger picture

RBC Economics described Vancouver as in "correction mode," with prices falling since early 2025 and buyers still not returning in meaningful numbers.