Quick answer: October was a month where buyers and sellers took a step back. According to Greater Vancouver Realtors (GVR), 2,024 homes sold in October 2026, down 10.2% from last October and 22.5% below the 10 year average for the month. New listings fell even harder, down 11.6%. Because supply pulled back more than demand, the sales to active listings ratio jumped from 10.9% in September to 13.4%, which puts the overall market in balanced territory. The composite benchmark price is $1,068,600, down 5.2% from a year ago and 0.7% from September. So prices are still drifting lower, but the leverage has shifted a little closer to the middle.
I’ll be honest, I was waiting for this report like it was the last episode of a good show. October was a strange month. We had a Bank of Canada rate hike, a snap provincial election, municipal elections, and more news alerts than any of us asked for. Plenty of people I talked to said some version of “let’s just see what happens first.” The numbers show they weren’t the only ones.
How Many Homes Sold in Greater Vancouver in October 2026?
Here’s the snapshot from GVR’s October report, which covers Metro Vancouver:
Total sales: 2,024, down 10.2% from 2,255 in October 2025
Detached: 643 sales, down 7.2%
Townhouses and attached: 468 sales, down just 1.9%
Apartments (condos): 892 sales, down 16.7%
Two things jump out at me. First, condos are carrying most of the slowdown again. Investors are still mostly sitting this out, and condos are where they usually play. Second, townhouses barely budged. If you’ve been watching that “family home without the detached price tag” segment, it’s holding up better than everything else.
For a little perspective, sales were actually up from September’s 1,717. That’s about 300 more homes changing hands month over month. So it’s not that nobody’s buying. It’s that fewer people are buying than we’d normally expect in a Vancouver fall.
Why Did the Sales to Active Listings Ratio Go Up?
This is my favourite part, because it’s the kind of thing that gets missed in the headlines.
GVR reported 4,805 new listings in October, down 11.6% from last year. Active listings (everything for sale on the last day of the month) came in at 15,688, down 4.3% from last year but still 24% above the 10 year seasonal average. That’s down from 16,394 in September.
So sales went up a bit from September while the pile of homes for sale shrank. Put those together and the ratio climbs. Here’s how it broke down:
Overall: 13.4% (up from 10.9% in September)
Detached: 11.6% (up from 9.7%)
Townhouses: 16.5% (up from 12.2%)
Apartments: 13.5% (up from 11.4%)
If you’ve read my post on the one statistic you should follow every month, you know why I care. GVR’s rule of thumb is that below 12% for a while, prices tend to feel downward pressure, and above 20% for several months, they tend to feel upward pressure. In between is a more balanced market.
So in one month, the overall market slid out of buyer’s market territory and into balanced. Townhouses at 16.5% are the tightest segment by a mile. Detached homes, at 11.6%, are still just under that 12% line.
My honest read: one month is a blip, not a trend. A lot of sellers simply didn’t list in October, and many of them may come back in the spring. But it’s a good reminder that the market can shift faster than the headlines do.
What Happened to Home Prices in October?
Prices kept easing, gently. Here are the benchmark prices (GVR’s “typical home” measure, which is more reliable than averages):
Composite (all homes): $1,068,600, down 5.2% year over year and 0.7% from September
Detached: $1,775,200, down 7.0% year over year and 0.5% from September
Townhouse: $1,006,500, down 5.5% year over year and 1.0% from September
Apartment: $673,400, down 5.9% year over year and 1.3% from September
Closer to home, GVR’s area numbers had Vancouver East at a composite benchmark of $1,121,600, basically flat for the month (up 0.1%) and down 4.4% over the year. Vancouver West came in at $1,196,600, down 0.8% for the month and 4.5% over the year. East Van holding steady while the region slips? I can’t say I’m surprised. People love living over there for a reason.
Quick reminder: these are benchmarks, not your home’s price. If you’re wondering why your own number feels different, it’s the same reason assessed value and market value can be miles apart. Your building, your exposure, your floor plan and your block matter more than any regional average.
Why Did Buyers and Sellers Step Back in October?
GVR’s chief economist, Andrew Lis, called October a month with “suspenseful distractions.” He pointed to two big ones: the surprise Bank of Canada rate hike and the snap provincial election, plus a lot of news coverage around both the provincial and municipal elections and uncertainty about where mortgage rates are heading. He described 2026 as “a continued pattern of one step forward, one step back.”
I’m not going to weigh in on elections here (that’s what your group chat is for). But it makes total sense to me that people paused. When there’s a lot of noise, it’s human to wait for it to settle before making a seven figure decision.
He also flagged the tricky part for buyers: prices have edged lower this year, but higher borrowing costs are eating into those affordability gains. That’s the balancing act right now.
What Does This Mean If You’re Buying This Fall?
You still have choice. Listings are 24% above the 10 year average, and negotiating room hasn’t disappeared. But a few things changed:
Townhouses are getting more competitive. At 16.5%, a well priced townhouse in a good spot may not sit around. Have your financing lined up before you book the showing.
Lock in your rate math. Lis noted some buyers may jump in before their rate holds expire. If you have a hold, know the expiry date. If you don’t, ask your broker about one.
Don’t try to call the bottom. I’ve been saying it since 2021: waiting for the perfect moment is a game nobody wins. If the home is right and the payment works, that’s your answer.
And keep being picky about the Vancouver things that matter: good light (this time of year, a north facing unit at 4:30 pm is a cave), a quiet side of the building, and a strata with a healthy contingency reserve fund.
What Does This Mean If You’re Selling?
A little bit of good news, actually. With fewer new listings hitting the market, there’s less competition for your home than there was in September. If you’re thinking about listing before the holidays, you’re not fighting quite as big a crowd.
But buyers are still careful and still comparing. Price to today’s market, not last spring’s. Make the first two weeks count. And if you’ve got a townhouse, your segment is the healthiest it’s looked in a while, so talk to me about timing.
What Should We Watch Next?
Three things are on my radar:
The Bank of Canada’s next decision on December 9, 2026. Lis noted markets see a slight chance of another quarter point hike.
Whether new listings stay low. If sellers keep holding back into the winter, the ratio could stay in balanced territory even with soft sales.
The November stats, which GVR usually releases in the first week of December.
If you want me to pull the numbers for your neighbourhood and your property type, whether you’re buying, selling or just curious, call or text me. It’s a 15 minute conversation that can save you a lot of guesswork.
Written as of November 9, 2026.
This blog is for informational purposes only and should not be relied upon for legal, investment, mortgage or other advice. It is not intended to cause or induce breach of an existing agency agreement. All information provided is deemed reliable but is not guaranteed and should be independently verified.
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