Metro Vancouver Real Estate Market Update – September 2025
September saw Metro Vancouver’s real estate market solidify its shift toward buyer-favourability, driven by another Bank of Canada rate cut and persistent high inventory. While overall sales volume was modest, the environment offered a wealth of opportunity for those ready to act.
Prices continued their gentle slide across all housing types, while inventory swelled to near-record levels. The combination of easing affordability and favorable borrowing costs created a fall market characterized by plenty of choice and negotiating power for buyers.
Key Market Stats – September 2025
Overall Residential Market
- Total Sales: 1,875 (↑1.2% YoY)
- Benchmark Price: $1,142,100 (↓3.2% YoY, ↓0.7% MoM)
- New Listings: 6,527 (↑6.2% YoY)
- Total Active Listings: 17,079 (↑14.4% YoY)
- Sales-to-Active Listings Ratio: 11.3% (Strong buyer’s market territory)
Detached Homes
- Sales: 552 (↑7% YoY)
- Benchmark Price: $1,933,100 (↓4.4% YoY, ↓0.9% MoM)
- Active Listings: 6,459
- Avg. Days on Market: 47
- Sales-to-Active Ratio: 8.5% (Deep Buyer’s Market)
Attached Homes (Townhouses)
- Sales: 356 (↓5.8% YoY)
- Benchmark Price: $1,069,800 (↓2.7% YoY, ↓0.9% MoM)
- Active Listings: 2,798
- Avg. Days on Market: 36
- Sales-to-Active Ratio: 12.7% (Approaching buyer’s territory)
Apartments
- Sales: 954 (↑1.5% YoY)
- Benchmark Price: $728,800 (↓4.4% YoY, ↓0.8% MoM)
- Active Listings: 7,164
- Avg. Days on Market: 44
- Sales-to-Active Ratio: 13.3% (Approaching buyer’s territory)
Market Commentary
September marked a further cooling in the market, despite a slight year-over-year increase in total sales. The major story is inventory, which is 36.1% above the 10-year seasonal average, offering a substantial range of choices to prospective purchasers.
According to Andrew Lis, GVR’s director of economics and data analytics:
“With another cut to Bank of Canada’s policy rate behind us, and markets pricing in at least one more cut by the end of the year, Metro Vancouver homebuyers have reason to be optimistic about the fall market. Easing prices, near-record high inventory levels, and increasingly favourable borrowing costs are offering those looking to purchase a home this fall with plenty of opportunity.”
Benchmark prices declined for the second consecutive month across all segments, easing affordability constraints. Notably, the detached segment showed the highest year-over-year price decrease (↓4.4%) and the lowest Sales-to-Active Ratio (8.5%), confirming that larger homes are firmly in a buyer’s market environment.
Looking Ahead
The market is showing signs of stability after the volatility of recent years, with the acute impact of rapid rate hikes and trade tensions now fading. The continued decline in the Sales-to-Active Listings Ratio—now at 11.3% overall—suggests that downward pressure on home prices is likely to continue for the immediate future.
The apartment and attached segments remain closer to a balanced market than detached homes, but all three segments are well below the 20% threshold that signals upward price pressure.
For buyers, the current conditions of high inventory and modestly falling prices present an ideal purchasing window.
“The past few years have been quite challenging for the market… With the acute impacts of these events now fading, we expect market activity to continue stabilizing to end the year, barring any unforeseeable major disruptions.”
Conclusion
Metro Vancouver’s September market extended the buyer-friendly trends seen in August. With prices easing, inventory high, and interest rates moving in a favorable direction, it’s a prime time for purchasers to secure a property with less competition. The fall market clearly favours the buyer, offering both selection and negotiation leverage.
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Staying informed, pre-approved, and ready to act will be key for those aiming to capitalize on the current environment, which offers the most choice seen in recent memory.