October 2025 Vancouver Real Estate Report

Vancouver's housing market tells an intriguing story this fall. Market prices hit record highs in some areas, yet October 2025 shows a clear cooling in buying activity. Greater Vancouver saw only 2,255 residential sales in October 2025, which dropped 14.3% from October 2024. The numbers fell 14.5% below the 10-year seasonal average of 2,638 units.

My daily experience as a realtor in Vancouver's real estate market gives me a front-row view of these changes. Metro Vancouver's MLS® home sales dropped 14% compared to last October. The market now has 13.2% more listed properties than October 2024. Our 2025 market outlook keeps changing as detached homes' benchmark price reaches $1,916,400 - a 4.3% drop from October 2024. The British Columbia Real Estate Association data shows 6,374 residential units sold in October 2025, marking a 10.2% decrease from last year. The average BC residential price saw a small 0.8% uptick to $978,658. These mixed market signals need careful analysis to help buyers and sellers make informed decisions.

Vancouver home prices reach new peak in October 2025

October's data shows major changes in Vancouver's housing market. The Greater Vancouver's real estate landscape presents mixed signals. While transaction volumes are down, prices vary among different property types.

Metro Vancouver sales fall 14.3% year-over-year

The MLS® system recorded 2,255 residential property sales in October 2025. This number represents a 14.3% drop from October 2024's 2,632 sales. The current figures are 14.5% lower than the 10-year seasonal average of 2,638 transactions.

Different property types saw varying levels of decline. Detached home sales reached 693 units, a 4.3% drop from last October. Condominium sales took the biggest hit with 1,071 units sold, down 23.1% from the previous year. Attached home sales numbered 477 units, showing a smaller 4.8% decrease from October 2024.

My daily work with clients in Greater Vancouver gives me a front-row view of how these lower sales volumes affect buyer-seller relationships in a variety of neighborhoods.

Benchmark prices decline despite record highs

The composite benchmark price for all residential properties in Metro Vancouver now sits at $1,577,980.43. This price shows a 3.4% drop from October 2024 and a 0.8% decrease from September 2025, despite some headline-making transactions.

Here's how different housing types fared:

• Detached homes: Benchmark price of $2,670,235.49, down 4.3% year-over-year and 0.9% month-over-month
• Condominiums: Benchmark price of $1,001,686.65, down 5.1% from last October and 1.4% from September
• Townhouses: Benchmark price of $1,486,297.33, down 3.8% annually and 0.3% monthly

Benchmark prices trend downward, yet Greater Vancouver's average home price rose by 1.2% annually to $1,763,534.21. This suggests strength in luxury market segments. Current benchmark prices remain about 10% below the April 2022 peak of $1,755,494.52.

Sales-to-active listings ratio signals balanced conditions

By October 2025's end, the MLS® system showed 16,393 available listings. This marks a 13.2% increase from last year and sits 35.9% above the 10-year average. Buyers now have more options than recent years.

October 2025's overall sales-to-active listings ratio reached 14.2%. The ratio varies by property type:

• 11.3% for detached homes
• 17.6% for attached properties
• 15.5% for apartments

Analysts say ratios below 12% put downward pressure on prices. The current ratio just above this mark shows Vancouver's real estate market balances between buyers and sellers.

The sales-to-new listings ratio (SNLR) at 41% for October confirms this balance. This falls within the 40-60% range typical of balanced market conditions. These numbers suggest Vancouver's housing market returns to normal after extreme swings during the pandemic era.

Detached, condo, and townhouse markets show diverging trends

Vancouver's property segments show unique patterns for each housing type. My daily client interactions throughout Metro Vancouver reveal how market segments react differently to today's economic conditions.

Detached home sales drop 4.3%, prices down to $1.91M

The detached housing market Vancouver shows signs of slowing down. Sales figures reached 693 detached homes in October 2025, which marks a 4.3% decrease from 724 sales in October 2024. Current benchmark prices sit at $2,670,235.49, reflecting a 4.3% year-over-year decline and a 0.9% drop from September 2025.

The sales-to-active listings ratio for detached properties now stands at 11.3%. This figure falls just below the 12% mark that usually points to downward price pressure. Some neighborhoods face steeper declines than others. South Surrey/White Rock leads with an 8.1% drop, while Vancouver East shows 7.5% and New Westminster records 7.6%. North Vancouver stands out with a slight 0.7% price increase, which highlights real estate's local nature.

Condo sales fall 23.1%, benchmark price at $718,900

Apartment sales show the largest decline among property types. October 2025 recorded just 1,071 unit sales, a sharp 23.1% drop compared to 1,393 sales in October 2024. The benchmark price now reads $1,001,686.65, showing a 5.1% decrease from last year and a 1.4% reduction from September 2025.

The apartment segment's sales-to-active listings ratio reaches 15.5%. This number stays within balanced market territory but suggests weakening buyer interest. Vancouver's real estate market shows its largest year-over-year price reduction in this segment.

Townhouse sales dip 4.8%, prices hold at $1.06M

Attached homes prove more resilient than other segments. October 2025 saw 477 townhouse sales, a small 4.8% decrease from 501 transactions in October 2024. Townhouse benchmark prices currently reach $1,486,297.33, with a 3.8% year-over-year decrease and a minimal 0.3% monthly decline.

Townhouses maintain the strongest position with a 17.6% sales-to-active listings ratio. This suggests better conditions for sellers compared to detached homes and condos. My experience helping buyers understand Vancouver's real estate outlook shows that townhouses offer both affordability and price stability.

Inventory builds as buyers hesitate despite rate cuts

The Vancouver real estate market has built up more inventory this autumn. Buyers now enjoy better conditions while sellers face tougher competition.

Total listings rise 13.2% year-over-year

Metro Vancouver's housing inventory has grown substantially. By October's end, 16,393 properties were up for sale, showing a 13.2% increase from October 2024. These numbers sit 35.9% above the 10-year seasonal average of 12,063. The market hasn't seen inventory levels this high in 13 years. Buyers now have more choices than ever.

New listings remain flat compared to 2024

The market saw 5,438 new property listings in October, almost matching last year with just a 0.3% decrease from October 2024. This makes October 2025 the third-highest October for new listings in history. Only 2024 and 2008 saw higher numbers. New supply keeps flowing into Greater Vancouver's market, which adds to the growing inventory levels.

Fourth Bank of Canada rate cut fails to boost demand

The Bank of Canada cut its policy rate to 2.25% in October, marking its fourth reduction in 2025. The central bank has lowered rates by 2.75% since starting its easing cycle. This big change in monetary policy hasn't sparked more buying activity yet. "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," says Andrew Lis, GVR chief economist. The market looks better for buyers now than it has all year, and no more rate cuts are expected in 2025.

Experts predict cautious optimism for 2026 market

Vancouver's housing market shows a complex landscape as we approach the end of 2025. Sales have dropped 14.3% compared to last year while inventory levels keep rising. Buyers now have more bargaining power than they've had in years, with 16,393 active listings showing a 13.2% jump from last October.

Different market segments paint varying pictures across the region. Detached homes remain somewhat steady with just a 4.3% decline in sales. Condominiums face bigger hurdles as transactions have fallen 23.1%. Townhouses stay relatively stable with a modest 4.8% sales decrease and a stronger sales-to-active listings ratio of 17.6%.

The Bank of Canada's four rate cuts haven't sparked much buyer interest. This suggests that buyers consider more than just financing costs when making decisions. Housing costs remain a major worry even after recent price adjustments. Benchmark prices have dropped 3.4% year-over-year but still remain out of reach for many families.

My daily chats with buyers show they feel more confident about negotiating better deals. Notwithstanding that, sellers who set realistic prices still find buyers, especially in popular neighborhoods where demand stays steady. Most properties no longer see multiple offers or huge over-asking premiums.

The Vancouver market should keep this balanced path into early 2026 unless the economy shifts by a lot. Our 14.2% sales-to-active listings ratio puts us right in balanced territory after years where sellers had the upper hand. Buyers who couldn't compete before now see opportunities throughout Metro Vancouver.

Local trends keep getting stronger in each area. North Vancouver's slight price increases tell a different story from South Surrey's 8.1% decline. This shows why local market expertise matters so much. Then both buyers and sellers benefit when they work with experts who understand these subtle differences.

The current market might challenge sellers used to quick sales and premium prices, but this rebalancing creates a healthier market for everyone. Vancouver's housing market proves its strength despite economic challenges, showing why it remains one of Canada's most attractive real estate markets during this adjustment period.

Key Takeaways

Vancouver's housing market is experiencing a significant shift from seller-dominated conditions to a more balanced environment, creating new opportunities and challenges for both buyers and sellers.

• Sales plummet 14.3% year-over-year while inventory surges 13.2%, giving buyers unprecedented choice and negotiating power in Metro Vancouver's housing market.

• Condo market faces steepest decline with 23.1% sales drop and 5.1% price reduction, while detached homes show more resilience with only 4.3% decreases.

• Four Bank of Canada rate cuts fail to stimulate demand, suggesting affordability concerns beyond financing costs are keeping buyers hesitant despite favorable conditions.

• Market enters balanced territory with 14.2% sales-to-active listings ratio, ending years of extreme seller advantage and multiple-offer scenarios across most properties.

• Neighborhood trends diverge significantly - North Vancouver sees price increases while South Surrey drops 8.1%, emphasizing the importance of hyperlocal market knowledge.

This market rebalancing creates the most buyer-friendly conditions in years, though sellers who price realistically can still find success. The shift represents a healthier, more sustainable environment after pandemic-era extremes.