Greater Vancouver Market Insights Report: October 2026.

All this with municipal and provincial elections occurring in October, which gave many buyers and sellers reason to wait and see what happened. And with considerable changes in government, especially provincially, there will be new policies to come but that may take time, time that buyers and sellers may not want to wait on or even pay attention to. The big distraction is done, time to move on.

The Bank of Canada also decided to get in on the act of distraction with a quarter point increase in their rate at the end of the month. Given the current state of the Canadian economy, it came as a surprise, but inflation and costs of capital made the decision for them. This move has brought variable and fixed rates closer together, and given where historical rates have been, rates today aren’t that bad. Waiting for the ideal rate is an exercise in futility. As has been said, date the rate and marry the house – in other words, the time is now.

Across Greater Vancouver, 2,024 homes sold in October, an 18% increase from September and an 8% increase from August. While sales were still 10% below October 2025 and 23% below October 2024, the improvement from the previous month was encouraging. Sales this year were also just ahead of sales in October 2023. Active listings finished the month at 15,688, down 4% from September and 4% year-over year. New listings also declined, with 4,905 properties coming to market, 18% fewer than in September and 11% fewer than October last year. Perhaps a sign of sellers not willing to take part in the market this fall and waiting for some improvement in the market to entice them back.

Perhaps the most telling indicator was the sales-to-listings ratio, which climbed to 41%, up from 29% in September. Months of supply also declined from ten to eight, although Greater Vancouver remains in buyer’s-market territory. Taken together, these numbers suggest that the market is absorbing available inventory more effectively. Buyers are becoming more active, while fewer new listings are entering the market. That combination is an important development as we move toward the traditionally quieter winter months.

Some interesting highlights for October:

• Broad-based rebound: Sales rose month over month in 15 of 16 submarkets, with Maple Ridge (+45%), Port Coquitlam (+42%), North Vancouver (+33%) and Coquitlam (+33%) leading the way.
• Six submarkets ahead of last year: Pitt Meadows (+21%), Port Coquitlam (+13%), Richmond (+6%), Maple Ridge (+3%), Coquitlam (+1%) and Burnaby South (+1%) all outpaced October 2025.
• Inventory tightening: Active listings fell to 15,688, down 4% from both September and a year ago, with month-end declines in every submarket.
• Healthier balance: Eight submarkets now sit at 7 months of supply or less, and Pitt Meadows has moved into seller’s market territory at 3 months.
• Standout demand: Pitt Meadows recorded an 89% sales-to-listings ratio, with Tsawwassen (59%), Port Coquitlam (54%) and Richmond (53%) also well above the regional average.

The breakdown in product types saw detached sales down 7% year-over-year but up 12% month-over-month, while attached sales were down only 1% year-over-year and up 31% month-over-month. Condo sales continue to struggle, down 16% year-over-year while on a positive note, up 15% compared to September.

Greater Vancouver sales in October were 23% below the ten-year average, after September was 25% below the ten-year average, August was 21% below the ten-year average, and July was 19% below the ten-year average. The uncertainty globally and locally continues to drag on the real estate market. With elections out of the way by early November, it could help to take away that distraction. Given the lack of activity we’ve seen over the last four years, at some point we’ll see engagement from buyers and sellers as those necessary and long desired moves happen.

The number of new listings in October was 1% above the ten-year average, after September was 6% above the ten-year average, August was 2% below the ten-year average, and July was right at the ten-year average. This year has seen a pull back in listing inventory with the year likely to finish 10% below the total new listing count in 2025. Inventory is shrinking, leading to more balance in the market, something buyers should take note of.

Vancouver: a noticeable improvement in activity.

Vancouver’s two major markets both recorded stronger sales in October, although the Westside and East Side continue to show different levels of supply and demand.

On the Vancouver Westside, 335 homes sold, up 9% from September but down 17% from October 2025. Active listings edged down to 1% month over month and were 6% lower than a year ago. New listings declined 17% from September to 954. Months of supply improved from ten to nine, while the sales-to-listings ratio increased from 27% to 35%. The Westside is still a buyer’s market, but the improvement in absorption is encouraging.

The Vancouver East Side saw a stronger rebound. Sales reached 238, up 30% from September and 17% from August, although still 12% below October 2025. Active listings were down 1% from September, while new listings fell 16% to 648. Months of supply dropped from nine to seven, bringing the area into balanced market territory. The sales-to-listings ratio rose from 24% to 37%. This is a notable shift and suggests that buyers were considerably more active in October.

North Shore: stronger sales, tighter conditions.

North Vancouver recorded one of the stronger monthly improvements in the region. Sales increased 33% from September to 168, although they remained 11% below October 2025. Active listings declined 5% month over month, and new listings fell 29% to 398. Months of supply dropped from eight to six, placing North Vancouver in balanced-market conditions. The sales-to-listings ratio nearly doubled, rising from 22% in September to 42% in October. The combination of stronger demand and fewer new listings pointed to a healthier market balance.

West Vancouver, by contrast, continues to face more challenging conditions. Sales declined 25% from September to 45, while active listings fell 4% to 626. New listings were down 12% from September and a substantial 28% from October last year. Despite the lower inventory, months of supply increased from 11 to 14 because sales activity weakened. The sales-to-listings ratio slipped from 33% to 28%. West Vancouver remains one of the region’s most pronounced buyer’s markets, with buyers continuing to have considerable choice and negotiating leverage.

Richmond and Burnaby: improving absorption.

Richmond had a particularly positive October. Sales reached 251, up 11% from September and 14% from August, and 6% higher than October 2025. Active listings declined 8% month over month and were 14% below last year. New listings fell 23% from September to 475. Months of supply dropped from nine to seven, moving Richmond into balanced-market territory. The sales-to-listings ratio climbed from 37% to 53%, indicating a meaningful improvement in market absorption.

In Burnaby East, sales increased 47% from September, reaching 22 transactions. Active listings declined 5% to 166, while new listings dropped 31% to just 42. Months of supply improved from 12 to eight, although the area remains in a buyer’s market. The sales-to-listings ratio rose sharply from 25% to 52%. The lower number of new listings is an important part of this story, helping the market absorb available inventory more quickly.

Burnaby North also experienced a strong monthly rebound, with 123 sales, up 32% from September. Active listings declined 5% to 920, and new listings fell 11% to 288. Months of supply dropped from ten to seven, placing the area in balanced market territory. The sales-to-listings ratio increased from 29% to 43%. Although sales remain 16% below October 2025, the improvement in current market conditions is encouraging.

Burnaby South recorded a more modest increase. Sales rose 5% from September to 105, while active listings declined 4% to 805. New listings were down 6% from the previous month. Months of supply remained at eight, keeping the area in buyer’s-market territory, although the sales-to-listings ratio improved from 36% to 41%. The market is showing some improvement, but the shift has been less pronounced than in Burnaby North or Richmond.

New Westminster picking up.

New Westminster recorded 81 sales in October, up 7% from September and 5% from August. Active listings declined 7% to 585, while new listings fell 11% to 202. Months of supply improved from eight to seven, bringing the market into balanced territory. The sales-to-listings ratio increased from 33% to 40%. While sales remained 17% below October last year, the recent improvement in absorption is a positive development.

Tri-Cities.

Port Coquitlam delivered one of the strongest results in the region: 78 sales, up 42% from September and 13% from last year, with a 54% sales-to-listings ratio and just five months of supply. Coquitlam was equally encouraging, climbing 33% to 187 sales, edging past last October, and improving its ratio from 27% to 43%. Port Moody held steady at 47 sales, and its 6% monthly drop in active listings keeps conditions moving in the right direction.

Eastern Valley improvements.

Pitt Meadows remains the region’s tightest market. Sales reached 35 units, up 21% from both September and last October, and active listings fell 23% to just 99, producing an 89% sales-to-listings ratio and three months of supply. Maple Ridge posted one of the largest monthly gains in the region, rising 45% to 113 units and finishing slightly ahead of last year, while supply dropped from 12 months to eight.

South Delta.

This community struggled to compete with sales levels last year.

• Ladner recorded 18 sales, up 13% from September but down 40% from October last year.
• Tsawwassen recorded 37 sales, up 16% from September but down 27% from October 2025.

Active listings dropped in both communities more than other parts of Metro Vancouver on the back of steeper declines in new listings. The slower sales kept both in buyers’ markets, with Ladner at ten months of supply and Tsawwassen at eight. Talk of the tunnel becoming a bridge in a shorter time frame could help to attract more activity to this market.

Fraser Valley remains a buyer’s market.

The Fraser Valley market, while ahead of September sales, fell behind October last year and remains a buyer’s market with inventory still elevated. The detached market once again outperformed townhomes and condos with sales up from last year as well as September. Sales of detached homes were up 2% compared to October last year, while townhomes were down 18% and condos were down 20%. Months of supply overall are down to nine, after finishing September with 11 months of supply. The detached market stayed at ten months of supply, thanks to stronger sales in October. Townhomes are at 6 months’ supply though, showing that kind of product is in short supply – even in a slower market. New listings in October were down 14% year-over-year and down 10% from September, while active listings are down 10% compared to October 2025 and down 6% from September.

Looking ahead: a stronger fall market takes shape.

October’s numbers provide some encouraging evidence that Greater Vancouver’s real estate market is gaining traction. Sales increased across most communities, active listings declined in nearly every submarket, and the overall sales-to-listings ratio moved back above 40%. Several areas, including Vancouver East Side, North Vancouver, Richmond, Burnaby North, New Westminster, Coquitlam and Port Coquitlam, moved into balanced-market conditions. Pitt Meadows tightened further into seller’s-market territory.

That said, it is important to keep the broader picture in perspective. Greater Vancouver still has eight months of supply, and many communities remain in buyer’s-market conditions. Sales across the region are also below October 2025 levels, and the market is not experiencing a uniform recovery. West Vancouver, Ladner and several other areas continue to have substantial inventory relative to sales.

The more important development may be happening on the supply side. Active listings across Greater Vancouver are down 4% from September and 4% year over year, while new listings are down 18% from September. If this trend continues and buyer activity holds up, the market could become progressively more balanced through the winter and into early 2027.

For buyers, there is still opportunity, particularly in neighbourhoods with higher months of supply. For sellers, improving absorption is encouraging, but pricing and presentation remain critical. The October numbers suggest that the market is moving in a more positive direction. Whether that momentum carries into the winter will depend on how many buyers remain active and how much new inventory comes to market.

Overall, October was a step in the right direction: more sales, fewer listings and a market gradually finding its balance.