Metro Vancouver’s real estate market cooled further in October, with slower sales and rising inventory creating some of the most buyer-friendly conditions we’ve seen in a while. Even after another interest rate cut, many buyers are taking their time — giving those still in the market more options and negotiating power.
📊 What’s happening right now:
Sales: 2,255 homes sold in October — down 14% from last year and below the 10-year average.
New Listings: 5,438 new properties hit the market — steady compared to last year, but still well above seasonal norms.
Total Inventory: 16,393 homes available — up 13% year-over-year and the highest levels we’ve seen in years.
Benchmark Price: $1,132,500 — down 3.4% from last year and 0.8% from September.
🏡 By Property Type
Detached Homes: $1.92M (↓ 4.3%) — sales down 4%
Townhomes: $1.07M (↓ 3.8%) — sales down 5%
Condos: $719K (↓ 5.1%) — sales down 23%
💬 What this means for buyers and sellers:
For buyers, this fall is offering more breathing room. With higher inventory and softened prices, there’s more opportunity to find the right home without competing against multiple offers.
For sellers, strategy is key. Homes that are well-presented and priced competitively are still moving — especially in desirable neighbourhoods and lower price points.
With balanced conditions and stable interest rates, the market is settling into a healthier rhythm — one that offers opportunity on both sides.
