The headline for September 2026 sounds like more of the same. Home sales across Metro Vancouver fell 8.4% compared to September 2025, according to Greater Vancouver REALTORS® (GVR).
The detail underneath tells a different story. The drop came from one segment. Condo sales fell by 177 compared to last September. Detached sales rose by 23 and attached sales rose by 2. Add detached and attached together and sales in those two segments went up year over year.
If you are buying your first condo, or selling one to move into a home that fits your next stage of life, that split matters. The condo market and the rest of the market moved in different directions last month.
Prefer to watch? The video version is below. The written breakdown follows.
What Happened in Metro Vancouver in September 2026
Here is the September 2026 picture for Metro Vancouver, compared to September 2025, from GVR's monthly release.
Condos (GVR calls these apartments)
777 sales, down 18.6% from 954
Benchmark price $682,500, down 6.2% year over year
Sales-to-active listings ratio of 11.4%
Detached properties
575 sales, up 4.2% from 552
Benchmark price $1,784,700, down 7.3% year over year
Sales-to-active listings ratio of 9.7%
Attached properties
358 sales, up 0.6% from 356
Benchmark townhouse price $1,016,700, down 4.7% year over year
Sales-to-active listings ratio of 12.2%
A note on categories: GVR's attached sales count includes duplexes. GVR's townhouse benchmark price leaves duplexes out, so the benchmark tracks townhomes only.
Across all property types, Metro Vancouver recorded 1,717 sales, 25% below the ten-year seasonal average for September. There were 16,394 homes listed for sale at month end, down 4% from a year ago and 24.3% above the ten-year seasonal average. Sellers added 5,852 new listings in September, down 10.3% from September 2025 and 5.7% above the ten-year seasonal average.
The composite benchmark price for all residential property types in Metro Vancouver is $1,075,900, down 5.5% from September 2025.
How GVR Explains the Split
GVR's chief economist, Andrew Lis, addressed the condo slowdown directly in the September release. He said the weakness is contained to the apartment segment, which in recent years has typically accounted for about half of sales in any given month. He described the rise in detached and attached sales as "consistent with our view that end-users are primarily driving the market, as investor-driven demand awaits more favourable market conditions."
That is GVR's explanation. In plain terms, Lis is saying people buying a home to live in are still active, and investor demand is holding off.
On prices, Lis said the cumulative effect of small monthly declines has added up, with all market segments now down about 3% since the start of the year.
Downtown Vancouver Condos
For Downtown Vancouver, SnapStats reports condo and townhome activity for September 2026:
114 sales against 965 active listings, a 12% sales ratio, which SnapStats classifies as balanced
Homes sold an average of 4% below list price
Days on market rose to 31, from 25 in August
Inventory rose 5% from August
The pockets moved at different speeds. The West End posted a 15% sales ratio, Yaletown 13%, Downtown 10% and Coal Harbour 8%. By size, units with up to two bedrooms moved at 12% to 13%, and three-bedroom units moved at 6%.
GVR's benchmark price for a Downtown Vancouver condo is $610,300, down 4.9% from September 2025. In Yaletown the condo benchmark is $771,200, down 6.5%. In the West End it is $607,200, down 6.1%. In Coal Harbour it is $1,146,600, down 0.7%.
East Vancouver Condos and Townhomes
GVR's Vancouver East report for September 2026 shows:
Condos
61 sales, down 39.6% from 101 in September 2025
551 active listings, down 11.8%
Benchmark price $634,800, down 5.2%
Townhomes
16 sales, up 6.7% from 15
173 active listings, up 4.8%
Benchmark price $980,400, down 7.9%
SnapStats puts the East Vancouver condo and townhome market at an 11% sales ratio, a buyer's market, with homes selling 1% below list on average. Hastings (35%) and Mount Pleasant (19%) were the most active communities.
Townhome vs condo in East Vancouver The gap between the East Vancouver benchmark townhome and benchmark condo is $345,600 today. In September 2025 it was $395,300. That is $49,700 narrower in twelve months, based on GVR benchmark prices.
The Vancouver Westside and the Wider Region
On the Vancouver Westside, condo sales were 214 in September 2026, down 4.5% from a year earlier, compared to the 18.6% drop across Metro Vancouver. Active Westside condo listings fell 18.5% to 1,655. The Westside condo benchmark is $761,800, down 5.2%.
Detached sales rose from August to September in North Vancouver (44 to 59) and Richmond (49 to 65), according to SnapStats.
Rates: What the Bank of Canada Said
On September 2, 2026, the Bank of Canada held its policy rate at 2.25%. In its release, the Bank said financial conditions have tightened since July, with long-term bond yields moving up globally, including in Canada. It also said upside risks to its inflation forecast have increased. The next scheduled rate decision is October 28, 2026.
Perch's October 2026 forecast commentary says the market expects one rate hike before the end of 2026.
What This Means If You Are Buying
First-time condo buyers: condo sales fell more than any other segment in September, and the Metro Vancouver condo sales ratio of 11.4% sits under GVR's 12% line. Downtown homes sold 4% below list on average. That gives you time to review strata documents, the building's history and the depreciation report before you commit.
Downtown: three-bedroom units (6% sales ratio) and Coal Harbour (8%) are the slowest pockets, so they offer the most room to negotiate.
Detached and townhome buyers: these are the segments where sales rose. Expect more competition from other people buying to live in the home.
Financing: the Bank of Canada decision is scheduled for October 28. If your pre-approval is several months old, ask your lender to confirm your rate and qualifying amount before you write an offer.
What This Means If You Are Selling
Downtown condo sellers: Downtown homes sold 4% below list on average in September and took 31 days to sell. The West End and units with up to two bedrooms moved fastest. Price against the current benchmark and recent sales in your building rather than last month's results.
Rightsizers moving up: if you are selling a condo to buy a townhome or detached property, the benchmark price gap narrowed over the past year. In East Vancouver, the gap between a condo and a townhome shrank by $49,700, and the gap between a condo and a detached property shrank by $102,000. Selling and buying in the same market works in your favour when the gap is closing.
Where I Land on September
September split the market by buyer type. People buying a home to live in kept buying detached properties and townhomes. Condo sales took the full hit, and GVR's own read points to investors waiting on the sidelines.
For a first-time buyer, a slower condo market is useful. It gives you time to do the homework that prevents a costly mistake.
For a condo owner planning a move up, the narrowing price gap is the number to watch. Run it against your own building and your target neighbourhood before you decide to wait.
Talk It Through
If you want to talk through what September's numbers mean for your building, your street or your next move, book a call at a time that suits you. No pressure. Just strategy before the noise.
Terms Used in This Update
Benchmark price: GVR's estimated sale price of a typical property in an area. It tracks a consistent type of home over time, so it gives a steadier read on price than a single month's sales.
Sales-to-active listings ratio: the share of homes listed for sale that sold during the month. GVR's historical data shows downward pressure on prices when this ratio stays below 12% for a sustained period, and upward pressure when it holds above 20% for several months. SnapStats treats 12% to 20% as balanced.
Active listings vs new listings: active listings are all homes for sale at month end. New listings are homes that came onto the market during the month.
Sale-to-list: what a home sold for compared to its asking price.
SOURCES
Greater Vancouver REALTORS®, September 2026 news release and statistics package (released October 2, 2026). Metro Vancouver figures compare September 2026 to September 2025.
Greater Vancouver REALTORS®, REALTOR® Reports for Vancouver West and Vancouver East, September 2026 (data current as of October 2, 2026).
SnapStats®, September 2026 report (data captured October 1, 2026 from the Greater Vancouver REALTORS® MLS® database). Month-over-month comparisons are August 2026 to September 2026.
Bank of Canada, "Bank of Canada maintains the policy rate at 2¼%," September 2, 2026.
Perch, Canada Interest Rate Forecast 2026 to 2031 (updated October 2026).
Price gaps are calculated from GVR benchmark prices in the Vancouver West and Vancouver East reports.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.