A Bank of Canada rate cut and softer prices helped push Metro Vancouver home sales slightly higher this September compared to last year, according to the Greater Vancouver REALTORS (GVR).
There were 1,875 residential sales across the region in September 2025 — up 1.2% from the 1,852 sales recorded in September 2024. While sales edged higher year-over-year, activity remained 20.1% below the 10-year seasonal average of 2,348.
Bank of Canada rate cut
“With another Bank of Canada rate cut 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,” said Andrew Lis, GVR’s director of economics and data analytics. “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.”
Inventory Levels
In September, 6,527 properties were newly listed for sale on the MLS, a 6.2% increase from the 6,144 listings in September 2024. That total sits 20.1% above the 10-year seasonal average of 5,434.
The total number of active listings reached 17,079, up 14.4% year-over-year and 36.1% above the 10-year average.
Sales-to-Active Listings Ratio
Across all property types, the sales-to-active listings ratio for September was 11.3% — with detached homes at 8.5%, attached at 12.7%, and apartments at 13.3%.
Historically, downward pressure on prices occurs when the ratio falls below 12% for a sustained period, while upward pressure tends to appear when it exceeds 20%.
Prices
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver now sits at $1,142,100, representing a 3.2% decrease from September 2024 and a 0.7% decline from August 2025.
- Detached homes: 552 sales (↑7% from last year) | Benchmark: $1,933,100 (↓4.4% YoY, ↓0.9% MoM)
- Apartments: 954 sales (↑1.5%) | Benchmark: $728,800 (↓4.4% YoY, ↓0.8% MoM)
- Townhomes: 356 sales (↓5.8%) | Benchmark: $1,069,800 (↓2.7% YoY, ↓0.9% MoM)
Outlook
“The past few years have been quite challenging for the market, beginning with 2022’s rapid increase in interest rates, major political and policy shifts in subsequent years, and recent trade tensions with the USA weighing on the market,” Lis said.
“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.”
Looking to Buy or Sell?
For all your real estate and conveyance needs, get in touch with our team today.
