September 2025 Market Statistics

🏡 September 2025 Market Update: An Awakening Market But Buyers Remain Hesitant
September marked the beginning of the autumn market, and it was heavily influenced by some big external factors, specifically the latest Bank of Canada rate cut and near-record high inventory levels we're seeing, especially across the Lower Mainland.

In Greater Vancouver and the Fraser Valley, the sustained buyer's market is continuing to push benchmark prices down month-over-month. In fact, the Fraser Valley just recorded its sixth straight decline. But here's the good news: sales volumes are holding steady or even seeing a small bump. This tells us that the price easing is finally starting to successfully draw some of those buyers who have been sitting on the sidelines back into the game.

Vancouver Island is a bit of a contrast, though. While VIREB is reporting slight dips in active listings and a mid-range balanced market with prices holding relatively flat, Victoria is showing similar stability, though their condo sector is seeing a little bit of price depreciation.

Bottom line: we're in a macro-environment where high housing choice and softening prices are resetting market behaviour, and that really favours prepared buyers who are ready to negotiate on both price and timeline.

So, what's next? Looking ahead to the next few months, everything suggests this is going to remain a market full of opportunities for buyers, especially since we're expecting borrowing costs to ease even further toward the end of the year. The next Bank of Canada meeting is October 29th and we remain hopeful that they will ease rates further.

The surplus listings in the Lower Mainland (GVR and FVREB) are going to keep putting gentle downward pressure on price points and how long properties sit on the market. This means sellers really need to be strategic and price competitively.

For those on Vancouver Island and in Victoria, I expect the current balanced conditions to stick around, with the single-family segment remaining quite firm while the condo market works through its small adjustment.

My prediction is that we'll see stabilizing activity continue through the traditionally quieter Q4, which will ultimately set the stage for a much more active and likely more competitive spring market once buyer confidence, fueled by those lower interest rates, really starts to accelerate.

The Greater Vancouver housing market showed signs of buyer advantage, buoyed by a Bank of Canada rate cut and easing home prices.

Residential sales rose slightly year-over-year to 1,875, though still 20.1% below the 10-year seasonal average. Inventory surged to 17,079 listings—36.1% above the seasonal norm—while the sales-to-active listings ratio sat at 11.3%, indicating downward pressure on prices.

Benchmark prices declined across all property types, with detached homes averaging $1.93M (down 4.4% YoY), apartments at $728,800 (down 4.4%), and townhouses at $1.07M (down 2.7%). Despite recent market challenges, including interest rate hikes and trade tensions, analysts expect stabilization heading into year-end.
Access the full statistics package HERE.

FRASER VALLEY - Sustained elevated inventories soften Fraser Valley home prices further, spurring bump in sales 

The Fraser Valley housing market remained firmly in buyer’s territory, with elevated inventory levels continuing to exert downward pressure on prices.

The benchmark price for a typical home fell to $926,300, marking a 5.4% year-over-year decline and the sixth consecutive month of price drops. Despite this, sales edged up 3% from August to 962 transactions, though still 2% below last year and 28% under the 10-year average.

New listings surged 23% month-over-month, contributing to a decade-high 10,583 active listings. Detached homes averaged $1.42M, townhomes $795,600, and apartments $510,400—all showing annual declines between 4.7% and 6.3%. With a sales-to-active listings ratio of just 9%, the region continues to favor buyers heading into fall.

Access the full statistics package HERE.

VANCOUVER ISLAND - Resilient Housing Market Carries VIREB into the Fall
The Vancouver Island housing market demonstrated resilience, with 653 unit sales across all property types—up 3% year-over-year—despite persistent economic headwinds.

Single-family home sales dipped 4% annually to 307 units, while condo and townhouse sales declined 14% and 13% respectively. Inventory levels remained stable, with approximately six months of supply, indicating a balanced market.

The benchmark price for a single-family home was $796,200, down 2% from last year, while apartments rose 3% to $416,600 and townhouses increased 1% to $548,800. Regional price trends varied, with modest gains in Campbell River, Comox Valley, Cowichan Valley, Nanaimo, Parksville-Qualicum, and Port Alberni, while North Island saw a slight decline.
Access the full statistics package HERE.

💰 Future Outlook - Macroeconomic Factors:
Canada’s CPI held steady at 1.6% year-over-year in September, signaling continued disinflation. The 5-year Government of Canada (GoC) bond yield dipped slightly to 2.65%, reflecting market anticipation of further monetary easing.

Interest Rates:
Following the Bank of Canada’s rate cut on September 17, borrowing costs have become more favourable. Another cut is being priced in for December, which could further stimulate buyer activity and support price stabilization across key regions.

🔍 What This Means for You:

Buyers now face a rare convergence of high inventory, softening prices, and improved financing conditions — especially in Fraser Valley and Greater Vancouver, where sales-to-active listings ratios remain below 12%. This is an opportune moment to negotiate strategically and secure long-term value.

Sellers must navigate a more competitive landscape. With inventory levels near decade highs and price declines across most property types, success hinges on precision pricing, standout presentation, and guidance from a REALTOR® who understands local dynamics.