Entering the property market is a matter of timing and thoughtfulness, and the current market allows for both.
- Buyers still have plenty of choices.
- Developers are selling newly-completed units at deep discounts, often at-cost or below, directly competing with new(er) MLS resale homes.
- It’s a good market to enter if you’re transitioning between different life phases.
- Buyers have time to research, negotiate and make a thoughtful decision.
September and October have given Metro Vancouver one of those falls that reminds us we live in one of the most beautiful corners of the world – blue skies, mountains out every morning. As a father of one with another on the way, I can tell you that feeling only grows. Kids make you rediscover this region, from the Capilano Suspension Bridge to the holiday farms in the valley. Watching my daughter take it all in reminds me why building a future here matters.
The September numbers show a market that continues to favour buyers. Across the four newer entry-level housing types tracked in this report, 181 homes sold, down 2% from August and 14% from last year. Active listings stood at 2,403, down 11% year-over-year, for an 8% sales-to-listings ratio.
It's worth sitting with what that means. Wealth in real estate is built on the way up, but the advantage often goes to those who enter before the climb. A correction gives buyers choice, negotiating power and time on their side. That's where we are today.
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You've probably seen the headlines about standing inventory, the nearly 5,000 developer-owned homes sitting unsold. But look at it another way: that's extra supply for buyers to choose from, something this region hasn't seen in 20-plus years.
Manraj Dosanjh
Dexter Realty
Meanwhile, something important is happening on the ground that isn't getting enough attention.
Developers have cut prices on some newly-completed homes to levels below replacement cost. Think about that: brand-new homes, with warranties and modern design, trading at prices comparable to ten-year-old resale. You've probably seen the headlines about standing inventory, the nearly 5,000 developer-owned homes sitting unsold. But look at it another way: that's extra supply for buyers to choose from, something this region hasn't seen in 20-plus years. It used to be pre-sale or resale.
Now there are recently completed, move-in ready homes, too, homes you can actually walk through. That's a big bonus, and it's something worth getting used to. Behind the headlines, some of these projects are doing ten to 20 deals a month. Many of those sales never reach the MLS, so buyers don't see the full picture. Information is everything in this industry, and working with a realtor who's in the know matters.
Read the numbers below through your own life. First-time buyer? See where one-bedroom prices have adjusted. Newly married? Look at two-bedrooms. Outgrowing your condo? Start with townhomes. Numbers only matter when you know what they mean for you. Reach out and let's talk through your next move.
Townhomes improved on last year, but two markets carried the month.
Newer entry-level townhome sales in September 2026 held steady at 27, up 17% from the previous year. Active listings eased 2% month-over-month to 342 and are down 5% year-over-year, leaving the sales-to-listings ratio at 8% and conditions firmly in buyers' favour.
Willoughby was the standout. Ten townhomes sold there, more than triple last September, for a 22% sales-to-listings ratio, while East Vancouver moved 5 homes, up 150% year-over-year, at a 25% ratio. Both markets are running in seller's favour.
The rest of the region was quiet. Surrey managed just one sale, and Coquitlam and North Vancouver recorded none, while Richmond's median sold price fell 20% year-over-year to $1,044,000.
Median sale prices ranged from $780,500 in South Surrey to $1,352,500 on Vancouver's Westside.
A table listing entry-level townhome market statistics for Metro Vancouver.
A bar chart comparing total townhomes sold (27) and active listings (342).
One-bed condo sales bounced back from August.
Newer one-bedroom condo sales in September 2026 rose to 57, up 21% from August, though still down 21% from the previous year. Active listings declined for another month, down 14% year-over-year to 676, as some would-be sellers likely chose to rent or occupy rather than sell into softer pricing, keeping the sales-to-listings ratio at 8%.
Median prices remained down by double digits across most markets compared to last year, including North Surrey at $354,000, Coquitlam at $417,450 and East Vancouver at $490,750. There were signs of life: Burnaby led with 12 sales, up 50% from August and Willoughby's five sales were up 150% from last September at a balanced 14% ratio.
At current prices, the cost of owning keeps moving closer to the cost of renting a comparable home, creating a compelling entry point for first-time and younger buyers to start building equity.
Median sale prices ranged from $354,000 in Surrey City Centre to $613,000 in North Vancouver.
A table listing one-bed condo market statistics for Metro Vancouver.
A bar chart comparing 57 total properties sold to 676 active listings for one-bed condos.
Two-bed condo sales stayed under pressure.
Newer two-bedroom condo sales in September 2026 slipped to 85, down 4% from August and 17% from the previous year. Active listings edged up month-over-month to 1,093 but remained 6% below last year, leaving the sales-to-listings ratio at 8% and market conditions firmly favouring buyers.
Activity was uneven. Burnaby led with 30 sales, up 20% from August, while Richmond moved 15 homes, up 36% month-over-month. East Vancouver and South Surrey were quieter, with six and three sales respectively, both down sharply from last year.
With some prices adjusting significantly from previous highs, buyers with financing ready continue to find some of the strongest negotiating positions the newer condo market has offered in years.
Median sale prices ranged from $532,500 in Surrey City Centre to $1,054,950 in Downtown Vancouver.
A table listing real estate statistics for two-bed condos across Metro Vancouver.
A bar chart comparing total two-bed condos sold (85) and active listings (1093).
Single-family sales went very quiet.
Newer entry-level single-family sales in September 2026 totalled just 12, down 45% from August and 8% from the previous year. Active listings held roughly steady at 292, down 25% year-over-year, for a 4% sales-to-listings ratio, the softest of the four product types.
Burnaby and Richmond recorded no sales at all, and Surrey managed just one at $1,210,000, down 24% from last year. Affordability remains the defining hurdle, with entry into a newer detached home starting around $1.2 million, and many move-up buyers have less condo or townhome equity available than they anticipated.
For buyers able to make that move, the quiet creates a real opening: plenty of choice, limited competition and increasingly motivated sellers.
Median sale prices ranged from $1,210,000 in Surrey to $4,050,000 on Vancouver's Westside.
A table listing entry-level single-family home prices and statistics for Metro Vancouver.
A bar chart comparing 12 total properties sold to 292 active listings.
Reasons why you should consider newer-home resale data:
- Facilitates wise choices in new pre-sale purchases by providing valuable comparables, offering insights into product considerations for both personal use and investment.
- Great for those looking to purchase housing that is still in the early stages of its lifecycle – this means less repairs & maintenance during the first few years of ownership.
- More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.
- Homes include some of the latest design and technology – great for resale value.
- Monthly sales statistics crucial for evaluating and planning new housing developments.
- These figures are routinely used by industry stakeholders such as real estate developers to understand the value of land, and anticipated market values for newly completed homes.
