10/02/2026
Overall, home sales were down about 8% in September compared with the same month last year, but that number is a little misleading because most of the decline came from apartments/condos.
Apartment sales make up a very large portion of the market. Sales of townhouses and detached houses actually increased slightly compared with September last year. This suggests that people who are actually looking for a home to live in (“end-users”) are still buying. Investors, on the other hand, appear to be holding back and waiting for conditions that are more attractive to them.
Prices are coming down, but slowly. The overall benchmark price dropped about 0.5% from August to September. That doesn't sound like much, but the small monthly declines are adding up. Since the beginning of the year, prices in all three major housing categories—apartments, townhouses and detached homes—have fallen by roughly 3%.
Overall, the housing market is slowing down, particularly for condos. However, prices aren't collapsing because there are also fewer homes coming onto the market. People who actually need a home are still buying houses and townhomes, while investors are mostly sitting on the sidelines. As a result, prices are gradually declining rather than falling sharply. The combination of fewer sales and fewer available homes is helping keep prices relatively stable.
Highlights for September 2026:
- Total sales in Sept = 1,717 (down 8.4% from Sept 2025)
- Total sales in Sept = 1,717 (25% below the 10-year average)
- New listings in Sept = 5,852 (down 10.3% from Sept 2025)
- New listings in Sept= 5,852 (5.7% above the 10-year average)
- Total properties for sale = 16,394 (down 4% from Sept 2025)
- Total properties for sale = 16,394 (24.3% above the 10-year average)
The current sales-to-active listings ratio is 10.9% (downward price pressure happens around 12%, upward price pressure happens around 20%).
- Benchmark home price = $1,075,900 (down 5.5% from Sept 2025)
- Detached home sales (Sept) = 575 (up 4.2% from Sept 2025)
- Detached benchmark price = $1,784,700 (down 7.3% from Sept 2025)
- Condo home sales (Sept) = 777 (down 18.6% from Sept 2025)
- Condo benchmark price = $682,500 (down 6.2% from Sept 2025)
- Attached home sales (Sept) = 358 (down 0.6% from Sept 2025)
- Attached benchmark price = $1,016,700 (down 4.7% from Sept 2025)
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☎️ Sarah (604) 785-8000
☎️ David: (604) 346-1862
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S&S Homes & Associates - Sarah Thompson PREC* & David Thompson
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