Ah, fall in Vancouver — that magical time when pumpkin spice takes over, the Canucks give us hope again, and the real estate market starts to cool off just enough for buyers to finally breathe.
And this September? The winds are shifting. After years of sellers calling the shots, the fall market is leaning toward buyers — and that’s a headline we haven’t heard in a while.
📉 Home Prices Are Drifting Downward (Yes, You Read That Right)
Let’s get straight to the numbers — because that’s where the story really starts.
Across Metro Vancouver, the benchmark home price now sits at $1,142,100, down 3.2% from last year and 0.7% from just last month.
For detached homes, we’re at $1,933,100, which is 4.4% lower than last September. Townhomes dropped 2.7%, sitting at $1,069,800, and condos are down 4.4% to $728,800.
In plain English? Homes are finally getting more affordable — relatively speaking, of course. This is Vancouver, after all.
📈 The Rate Cuts Are Helping… Slowly
Another Bank of Canada rate cut is working its way through the system, and it’s giving buyers just enough confidence to step back into the market.
Andrew Lis, GVR’s Director of Economics and Data Analytics, put it perfectly:
“With another rate cut behind us and possibly one more coming before year-end, homebuyers have reason to be optimistic this fall.”
Translation: If you’ve been waiting on the sidelines, this might be your window.
🏘️ Inventory Is Piling Up — And That’s Great News for Buyers
Active listings across all property types hit 17,079, which is a 14.4% jump from last year and a huge 36.1% above the 10-year average.
More listings mean more choices — and more leverage for buyers.
To break it down:
Detached homes: 6,459 active listings
Townhomes: 2,798 active listings
Condos: 7,164 active listings
It’s not exactly a flood, but it’s a solid step toward a balanced market.
⚖️ The Sales-to-Active Listings Ratio: What It Tells Us
This one’s a big deal — and it’s where the shift really shows.
The overall sales-to-active listings ratio for September was 11.3%.
Detached: 8.5%
Townhomes: 12.7%
Condos: 13.3%
Now, if you’ve been following the market, you know the magic numbers:
Below 12% = downward pressure on prices
Above 20% = upward pressure on prices
So with ratios hovering around that 11–13% mark, the market is officially tilting in buyers’ favour. Expect prices to stay soft — maybe even dip a bit more if this trend continues.
🏠 By the Numbers – September 2025 Snapshot
Property Type | Active Listings | Sales | Benchmark Price | Avg. Days on Market |
|---|---|---|---|---|
Detached | 6,459 | 552 | $1,933,100 | 47 |
Townhomes | 2,798 | 356 | $1,069,800 | 36 |
Condos | 7,164 | 954 | $728,800 | 44 |
Total residential sales hit 1,875, which is slightly up from 1,852 last year, but still 20% below the 10-year average. So, activity is moving — but not at breakneck speed.
🌇 What Does It All Mean?
The past few years have been… a roller coaster, to say the least. Between rising rates, policy shifts, and even trade tensions, Metro Vancouver’s housing market has had its share of drama.
But as we move into the last quarter of 2025, things are stabilizing. The panic is gone, buyers are gaining confidence, and sellers are starting to adjust their expectations to this new reality.
💡 Bottom Line
If you’re a buyer, this fall might be your best shot in years.
If you’re a seller, pricing right is key — because buyers have options now.
Whether you’re looking in Vancouver, Burnaby, Maple Ridge, or the North Shore, one thing’s clear: the market is finally giving both sides a fair fight.
🏡 Thinking of buying or selling this fall?
I’m always happy to help you make sense of the numbers and find the right strategy — whether you’re upgrading, downsizing, or just trying to time the market smartly.
📞 Let’s chat about your goals and how to make this market work for you.
