Metro Vancouver home sales fell 10.2% year-over-year in October

What the October figures show

GVR's market release reports 4,805 new listings, down 11.6% from October 2025. Active listings totalled 15,688, down 4.3% annually but 24% above the ten-year seasonal average. The MLS® Home Price Index composite benchmark was $1,068,600, down 5.2% year-over-year and 0.7% from September.

The October report PDF carries a November 2 release date; GVR's web article is dated November 3. This briefing was published November 5. The figures describe October transactions, rather than conditions on publication day.

Keep the geography attached to the number

GVR's reporting area includes Vancouver, Burnaby and Richmond, as well as places such as Squamish, Whistler and the Sunshine Coast. These results are not a province-wide measure or a price estimate for an individual home.

Our interpretation: fewer new listings and above-average active inventory can occur together. New listings count homes entering the market during a month; active inventory describes the homes still available. For a specific purchase, ask your real estate professional for evidence covering the same neighbourhood, property type and period as the home you are considering.

For a strata home, check the building's costs

BCFSA's existing Form B guidance explains that the information certificate includes monthly strata fees and the contingency reserve fund balance. It also warns that a recently issued form can become outdated if circumstances change, such as approval of a new budget.

A regional price decline cannot tell you whether a particular building's ongoing costs have changed. Ask your real estate professional which strata documents are current and how the fees, budget and reserve information affect the property you are reviewing. Questions about the legal effect of those documents belong with a qualified legal adviser.

Confirm the financing for the actual property

FCAC's preapproval guidance says preapproval does not guarantee final approval. The property value, down payment and lender's property requirements still matter. Ask your lender or broker which conditions remain outstanding and when any rate hold expires.

Our Vancouver mortgage page and pre-approval guide can help organize a discussion about financing a specific home. Keep the mortgage quote and the property's ongoing costs together when reviewing your budget.