A further interest rate cut from the Bank of Canada, combined with softer prices, pushed MLS® home sales in Metro Vancouver modestly above last September’s levels.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,875 in September 2025, a 1.2% increase from the 1,852 sales recorded in September 2024. This was 20.1% below the 10-year seasonal average (2,348). 

"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." - Andrew Lis, GVR director of economics and data analytics

In September 2025, there were 6,527 new listings for detached, attached, and apartment properties across Metro Vancouver—a 6.2% increase compared to September 2024. Still, new listings were 20.1% higher than the 10-year average for the month.

The total number of active listings reached 17,079, a 14.4% increase year-over-year, and 36.1% higher than the 10-year seasonal average. The number of active listings on the MLS System still far out weighs the number of active buyers leading properties to continue to sit on the market for extended periods of time. 

The sales-to-active listings ratio across all property types in September was 11.3%, indicating slight downward pressure on the market conditions. By property type:

• Detached homes: 8.5%

• Attached homes (townhomes): 12.7%

• Apartments: 13.3%

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.  

“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.” 

Home Prices and Sales Snapshot – September 2025

• Composite Benchmark Price (All Residential): $1,142,100

  • ↓ 3.2% from September 2024

  • ↓ 0.7% from August 2025

• Detached Homes:

  • Sales: 552 (↑ 7% Year over Year)

  • Benchmark Price: $1,933,100 (↓ 4.4% Year over Year | ↓ 0.9% Month over Month)

• Apartments:

  • Sales: 954 (↑ 1.5% Year over Year)

  • Benchmark Price: $728,800 (↓ 4.4% Year over Year | ↓ 0.8% Month over Month)

• Attached Homes (Townhomes):

  • Sales: 356 (↓ 5.8% Year over Year)

  • Benchmark Price: $1,069,800 (↓ 2.7% Year over Year | ↓ 0.9% Month over Month)

Click here for the GVR September 2025 MLS Housing Market Report