October Market Settles as Buyers Regain Leverage

The Metro Vancouver market in October 2025 continued to favor buyers. Benchmark prices remain slightly below year-ago levels (composite price ~$1,142,100, down ~3.2% YoY). Sales have edged up only modestly – about 1,875 homes in September (roughly +1% YoY) – and are still well below long‑term norms. Crucially, inventory is very high (around 17,000 active listings, +14% YoY). In this buyer-skewed environment, recent Bank of Canada rate cuts (policy rate now 2.25% as of Oct 29) have helped lower borrowing costs, but have not immediately reignited demand. Overall, the fall market is balanced-to-cool: buyers have plenty of choice and some negotiating power, while sellers must be realistic on price and timing.

Condos

Benchmark price: ~$728,800 (Oct 2025)

Change: –0.8% from last month; –4.4% from last year

Sales: ~954 units (flat to +1% YoY)

Active listings: ~17,000 (+14% YoY, all home types)

Sales-to-active ratio: ~13.3% (roughly balanced)
Condos continue to see steady demand from first-time buyers and renters despite higher borrowing costs. With thousands of condo listings available, buyers have the luxury of choice. Prices are easing gradually, reflecting overall market softness. In practice, well-priced condos are still moving (especially in popular areas), but the era of fast, multiple offers has largely subsided. The sales-to-active ratio (~13%) suggests a balanced market – not a frenzy, but not a complete slowdown either.

Townhomes

Benchmark price: ~$1,069,800

Change: –0.9% from last month; –2.7% from last year

Sales: ~356 units (about –6% YoY)

Active listings: ~17,000 (high, +14% YoY)

Sales-to-active ratio: ~12.7% (near balanced)
Townhomes remain a sweet spot for buyers seeking more space or upgrading from apartments. Inventory is plentiful, and price gains have been more modest (townhome prices are down only a few percent from a year ago). The market is roughly balanced – the sales-to-active ratio (~12.7%) sits near the threshold between a seller’s market and a buyer’s market. In this environment, townhome buyers can be patient and negotiate; sellers who want to move units need sharp pricing and good marketing.

Detached Homes

Benchmark price: ~$1,933,100

Change: –0.9% from last month; –4.4% from last year

Sales: ~552 units (+7% YoY)

Active listings: ~17,000 (very high, +14% YoY)

Sales-to-active ratio: ~8.5% (strong buyer’s market)
Detached home activity remains soft. Sales in early fall have ticked up slightly year-over-year (driven by move-up buyers), but remain well below normal seasonal levels. At the same time, listing inventory is at a multi-year high, giving buyers an unusually wide selection. The sales-to-active ratio for houses is only about 8–9%, signaling a classic buyer’s market. In practice, this means motivated buyers can often negotiate price or terms. Sellers of detached homes are generally adjusting expectations (price reductions and longer listing times are common) to meet the current market.

Summary/Insight

Across all property types, the theme is the same: more listings than buyers. Metro Vancouver’s market is cooler and more balanced than a year ago. High inventory and modest demand have gently pushed prices downward in recent months. Recent Bank of Canada cuts (to 2.25% in late October) have eased mortgage rates, which should support some buyer interest. Looking ahead, seasonal trends (slower activity into winter) suggest markets will remain calm through year‑end. If rates stay low and the economy steadies, we may see a pick-up in activity late this year or early 2026; if not, we’ll likely see continued easing pressure on prices.

For buyers, this is an opportunity to shop thoughtfully: plenty of inventory and a balanced sales-to-listing ratio mean you’re not forced to act irrationally. For sellers, the advice is to price and present homes very competitively. The landscape has shifted: it’s no longer a rapid upswing market, but rather a buyer-friendly one.

If you’re planning to buy or sell before year-end, now’s a great time to evaluate where you fit in this changing landscape.