Thursday, October 2, 2025
Another Bank of Canada rate cut and easing prices helped home sales registered on the MLS® in Metro Vancouver* edge higher relative to September last year. 

Sales

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,875 in September 2025, a 1.2 per cent increase from the 1,852 sales recorded in September 2024. This was 20.1 per cent below the 10-year seasonal average (2,348). 
"With another cut to Bank of Canada’s policy rate behind us, and markets pricing in at least one more cut by the end of the year, Metro Vancouver homebuyers have reason to be optimistic about the fall market. Easing prices, near-record high inventory levels, and increasingly favourable borrowing costs are offering those looking to purchase a home this fall with plenty of opportunity."
Andrew Lis, GVR director of economics and data analytics

Listings

There were 6,527 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2025. This represents a 6.2 per cent increase compared to the 6,144 properties listed in September 2024. This was 20.1 per cent above the 10-year seasonal average (5,434). 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,079, a 14.4 per cent increase compared to September 2024 (14,932). This is 36.1 per cent above the 10-year seasonal average (12,553). 

Sales-to-active listings ratio

Across all detached, attached and apartment property types, the sales-to-active listings ratio for September 2025 is 11.3 per cent. By property type, the ratio is 8.5 per cent for detached homes, 12.7 per cent for attached, and 13.3 per cent for apartments. 

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

MLS® HPI

“The past few years have been quite challenging for the market, beginning with 2022’s rapid increase in interest rates, major political and policy shifts in subsequent years, and recent trade tensions with the USA weighing on the market,” Lis said.

“With the acute impacts of these events now fading, we expect market activity to continue stabilizing to end the year, barring any unforeseeable major disruptions.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,142,100. This represents a 3.2 per cent decrease over September 2024 and a 0.7 per cent decrease compared to August 2025. 

Sales of detached homes in September 2025 reached 552, a 7 per cent increase from the 516 detached sales recorded in September 2024. The benchmark price for a detached home is $1,933,100. This represents a 4.4 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025. 

Sales of apartment homes reached 954 in September 2025, a 1.5 per cent increase compared to the 940 sales in September 2024. The benchmark price of an apartment home is $728,800. This represents a 4.4 per cent decrease from September 2024 and a 0.8 per cent decrease compared to August 2025.

Attached home sales in September 2025 totalled 356, a 5.8 per cent decrease compared to the 378 sales in September 2024. The benchmark price of a townhouse is $1,069,800. This represents a 2.7 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025. 

Download GVR's September 2025 MLS® Housing Market Report
*Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.