Vancouver, Fraser Valley housing markets cool further in September
Apartment sales weigh on Metro Vancouver
Lower prices and elevated inventory have yet to bring buyers back in force across B.C.'s Lower Mainland, with September home sales falling from a year ago in both Metro Vancouver and the Fraser Valley. In Metro Vancouver, the weakness was concentrated in apartments, while detached and attached sales posted modest annual gains. In the Fraser Valley, sales remained sluggish as prices continued to soften.
Read More →September brought more of the same in the Fraser Valley — cautious buyers, softening prices, and plenty of inventory. With 922 sales, activity slipped 2% from August and remains below typical September levels. Benchmark prices declined across every property type, with single-family homes now down nearly 9% from this time last year. If you're a buyer with financing in order, you have the kind of leverage this market hasn't offered in years. If you're selling, pricing sharp from day one is the only strategy that's working right now.
Metro Vancouver's September numbers told two very different stories. Detached and attached sales actually edged up from a year ago — a modest signal that end-users are still engaged. Meanwhile, apartment sales fell nearly 19% year-over-year, dragging overall totals down 8.4%. The composite benchmark of $1,075,900 reflects a market that's been drifting lower for months, now sitting 5.5% below last September. The Bank of Canada's rate increase to 2.50% on October 28 adds a new variable to the mix — one worth watching as we move through the fall.
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Mortgage Corner
Scotia Mortgage Rates
Current as of October 2026 • Prime Rate: 4.70%
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Kirk Slaght
Home Financing Advisor
Scotiabank
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For mortgage questions, I always point my clients to Kirk Slaght at Scotiabank — he knows his stuff and takes care of people. Whether you're a first-time buyer, moving up, refinancing, or renewing, reach out to Kirk directly and he'll find the right solution for your situation.
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