The market saw a slight uptick in sales coupled with record-high inventory, suggesting an easing of pressure for buyers.
Just under 1,900 sales registered, a 1% increase over September 2024. This boost was attributed to easing prices and another Bank of Canada rate cut.
Over 6,500 homes were listed, a 6% increase from 2024, placing inventory near record highs. The month ended with over 17,000 listed homes, giving buyers more selection.
MLS® HPI Benchmark Prices:
The benchmark price for all housing types in Metro Vancouver hit $1,142,000, which is a 3% drop from the same time last year.
Benchmark Price 1 Year Change by Type:
- Apartments $729,000 (-4.4%)
- Townhomes $1,70,000 (-2.7%)
- Attached Homes $1,933,000 (-4.4%)
Bottom Line:
Looks like a buyer's market is trying to make an appearance.