Sales Underperformed

• Despite another Bank of Canada rate cut, the expected "nudge" in sales wasn't enough to beat long-term averages.

• Approximately 2,200 homes were sold, which is a rather significant 14% drop compared to October 2024.

Supply is Sticking Around

• Sellers listed over 5,400 homes, which is slightly above the seasonal average.

• The month ended with nearly 16,400 homes for sale—a generous 36% above the seasonal average.

Sales-to-Active Listings Ratio (S/A Ratio)

• The S/A ratio for all homes clocked in at 14%.

• A ratio below 12% is generally considered a precursor to downward price pressure, while above 20% signals upward pressure.

• By property type, the ratio was:

  • Detached: 11% (Hello, downward pressure!)

  • Attached: 18%

  • Apartments: 16% 

Benchmark Prices (MLS HPI)

• The benchmark price for all housing types in Metro Vancouver is $1,133,000, which is down 3% from October last year.

• Key benchmark prices for October 2025:

  • Detached Homes: $1,916,000

  • Townhomes: $1,067,000

  • Apartments: $719,000 

What’s Next?

• The market is essentially playing the waiting game to see if the Bank of Canada’s fourth rate cut of the year, combined with high inventory and easing demand, will finally lure more buyers into the market in the final months of 2025.