Metro Vancouver Real Estate Market Update – October 2025

October saw the Metro Vancouver real estate market continue its firm trend towards buyer-favourable conditions, characterized by slow sales activity and the highest inventory levels seen in many years. Despite a fourth Bank of Canada policy rate cut, overall sales remained muted, giving purchasers significant leverage in the fall market.

Prices continued their gentle, month-over-month decline across all segments, easing affordability constraints as the year draws to a close. The combination of sustained high inventory and a slower pace of sales ensures that choice and negotiation power remain firmly with the buyer.

Key Market Stats – October 2025

Overall Residential Market

  • Total Sales: 2,255 (↓14.3% YoY)
  • Benchmark Price: $1,132,500 (↓3.4% YoY, ↓0.8% MoM)
  • New Listings: 5,438 (↓0.3% YoY)
  • Total Active Listings: 16,393 (↑13.2% YoY)
  • Sales-to-Active Listings Ratio: 14.2% (Balanced market, leaning buyer’s territory)

Detached Homes

  • Sales: 693 (↓4.3% YoY)
  • Benchmark Price: $1,916,400 (↓4.3% YoY, ↓0.9% MoM)
  • Active Listings: 6,135
  • Avg. Days on Market: 46
  • Sales-to-Active Ratio: 11.3% (Buyer’s Market Territory)

Attached Homes (Townhouses)

  • Sales: 477 (↓4.8% YoY)
  • Benchmark Price: $1,066,700 (↓3.8% YoY, ↓0.3% MoM)
  • Active Listings: 2,716
  • Avg. Days on Market: 35
  • Sales-to-Active Ratio: 17.6% (Balanced Market)

Apartments

  • Sales: 1,071 (↓23.1% YoY)
  • Benchmark Price: $718,900 (↓5.1% YoY, ↓1.4% MoM)
  • Active Listings: 6,902
  • Avg. Days on Market: 38
  • Sales-to-Active Ratio: 15.5% (Balanced Market)

Market Commentary

October confirmed that the Metro Vancouver market is now heavily favouring the buyer. Overall residential sales were 14.3% lower than the same month last year, totaling 2,255 and falling 14.5% below the 10-year seasonal average.

Inventory remains the major theme, with total active listings at 16,393—a 35.9% increase over the 10-year average—providing purchasers with an abundance of choice.

According to Andrew Lis, GVR chief economist and vice-president data analytics:

“October is typically the last month of the year where sales activity sees a seasonal uptick, but sales still fell short of last year’s figures and the ten-year seasonal average. Even the fourth cut this year to the Bank of Canada’s policy rate this October wasn’t enough to entice more buyers back into the market.”

The overall Sales-to-Active Listings Ratio stands at 14.2%. This metric, which signals market pressure, suggests continued downward pressure on home prices as it is well below the 20% threshold that indicates upward pressure. The Detached segment, at 11.3%, remains firmly in a buyer’s market territory (historically, below $12\%$ indicates downward price pressure).

The composite benchmark price for all residential properties in Metro Vancouver is $1,132,500, marking a 3.4% decrease year-over-year.

Looking Ahead

With sales lagging and inventory at multi-year highs, market conditions are the most favourable they have been for buyers all year. Mr. Lis added:

“After peaking in June, inventory levels have edged lower, and prices have eased across all market segments as slower-than-usual sales activity meets the highest inventory levels seen in many years…
With no further reductions to the Bank of Canada’s policy rate expected in 2025, market conditions appear as favourable for buyers as they’ve been all year.”

The apartment segment experienced the most significant year-over-year decline in sales 23.1% and the steepest month-over-month price drop 1.4%, presenting notable opportunities for first-time buyers and investors in this segment.

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Conclusion

Metro Vancouver’s October market was defined by the persistence of high inventory and buyer caution, despite further easing of borrowing costs. For those looking to purchase, the current conditions offer a clear window of opportunity with high selection and strong negotiation power.