No Falling Back in This Market

Highlights of Dexter’s October 2026 report

• Sales improved in October

• Decline of listing inventory across the region

• Detached market continues to outperform 

• Less distraction, more home buying

Fall Momentum Builds as Inventory Tightens

October brought a welcome improvement in activity across Greater Vancouver’s real estate market. After a quieter September, buyers returned with a greater push, sales increased across most communities, and the number of listings continued to decline. The result was a market that showed signs of balancing, even as conditions remained relatively favourable for buyers in many neighbourhoods. All this with municipal and provincial elections occurring in October, which gave many buyers and sellers reason to wait and see what happened. And with considerable changes in government, especially provincially, there will be new policy to come but that may take time, time that buyers and sellers may not want to wait on or even pay attention to. The big distraction is done, time to move on.

The Bank of Canada also decided to get in on the act of distraction with a quarter point increase in their rate at the end of the month. Given the current state of the Canadian economy, it came as a surprise, but inflation and costs of capital made the decision for them. This move has brought variable and fixed rates closer together, and given where historical rates have been, rates today aren’t that bad. Waiting for the ideal rate is an exercise in futility. As has been said, date the rate and marry the house – in other words, the time is now.

Across Greater Vancouver, 2,024 homes sold in October, an 18% increase from September and an 8% increase from August. While sales were still 10% below October 2025 and 23% below October 2024, the improvement from the previous month was encouraging. Sales this year were also just ahead of sales in October 2023. Active listings finished the month at 15,688, down 4% from September and 4% year-over year. New listings also declined, with 4,905 properties coming to market, 18% fewer than in September and 11% fewer than October last year. Perhaps a sign of sellers not willing to take part in the market this fall and waiting for some improvement in the market to entice them back.

Perhaps the most telling indicator was the sales-to-listings ratio, which climbed to 41%, up from 29% in September. Months of supply also declined from 10 to 8, although Greater Vancouver remains in buyer’s-market territory. Taken together, these numbers suggest that the market is absorbing available inventory more effectively. Buyers are becoming more active, while fewer new listings are entering the market. That combination is an important development as we move toward the traditionally quieter winter months.

Some interesting highlights for October:

• Broad-based rebound: Sales rose month over month in 15 of 16 submarkets, with Maple Ridge (+45%), Port Coquitlam (+42%), North Vancouver (+33%) and Coquitlam (+33%) leading the way.

• Six submarkets ahead of last year: Pitt Meadows (+21%), Port Coquitlam (+13%), Richmond (+6%), Maple Ridge (+3%), Coquitlam (+1%) and Burnaby South (+1%) all outpaced October 2025.

• Inventory tightening: Active listings fell to 15,688, down 4% from both September and a year ago, with month-end declines in every submarket.

• Healthier balance: Eight submarkets now sit at 7 months of supply or less, and Pitt Meadows has moved into seller’s market territory at 3 months.

• Standout demand: Pitt Meadows recorded an 89% sales-to-listings ratio, with Tsawwassen (59%), Port Coquitlam (54%) and Richmond (53%) also well above the regional average.

The breakdown in product types saw detached sales down 7% year-over year but up 12% month-over month, while attached sales were down only 1% year-over-year and up 31% month-over month. Condo sales continue to struggle, down 16% year-over year while on a positive note, up 15% compared to September.

Greater Vancouver sales in October were 23% below the 10-year average, after September was 25% below the 10-year average, August was 21% below the 10-year average, and July was 19% below the 10-year average. The uncertainty globally and locally continues to drag on the real estate market. With elections out of the way by early November, it could help to take away that distraction. Given the lack of activity we’ve seen over the last 4 years, at some point we’ll see engagement from buyers and sellers as those necessary and long desired moves happen.

The number of new listings in October were 1% above the 10-year average, after September was 6% above the 10-year average, August was 2% below the 10-year average, and July was right at the 10-year average. This year has seen a pull back in listing inventory with the year likely to finish 10% below the total new listing count in 2025. Inventory is shrinking, leading to more balance in the market, something buyers should take note of.

Vancouver: A Noticeable Improvement in Activity

Vancouver’s two major markets both recorded stronger sales in October, although the Westside and East Side continue to show different levels of supply and demand.

On the Vancouver Westside, 335 homes sold, up 9% from September but down 17% from October 2025. Active listings edged down to 1% month over month and were 6% lower than a year ago. New listings declined 17% from September to 954. Months of supply improved from 10 to 9, while the sales-to-listings ratio increased from 27% to 35%. The Westside is still a buyer’s market, but the improvement in absorption is encouraging.

The Vancouver East Side saw a stronger rebound. Sales reached 238, up 30% from September and 17% from August, although still 12% below October 2025. Active listings were down 1% from September, while new listings fell 16% to 648. Months of supply dropped from 9 to 7, bringing the area into balanced market territory. The sales-to-listings ratio rose from 24% to 37%. This is a notable shift and suggests that buyers were considerably more active in October.

North Shore: Stronger Sales, Tighter Conditions

North Vancouver recorded one of the stronger monthly improvements in the region. Sales increased 33% from September to 168, although they remained 11% below October 2025. Active listings declined 5% month over month, and new listings fell 29% to 398. Months of supply dropped from 8 to 6, placing North Vancouver in balanced-market conditions. The sales-to-listings ratio nearly doubled, rising from 22% in September to 42% in October. The combination of stronger demand and fewer new listings pointed to a healthier market balance.

West Vancouver, by contrast, continues to face more challenging conditions. Sales declined 25% from September to 45, while active listings fell 4% to 626. New listings were down 12% from September and a substantial 28% from October last year. Despite the lower inventory, months of supply increased from 11 to 14 because sales activity weakened. The sales-to-listings ratio slipped from 33% to 28%. West Vancouver remains one of the region’s most pronounced buyer’s markets, with buyers continuing to have considerable choice and negotiating leverage.

Richmond and Burnaby: Improving Absorption

Richmond had a particularly positive October. Sales reached 251, up 11% from September and 14% from August, and 6% higher than October 2025. Active listings declined 8% month over month and were 14% below last year. New listings fell 23% from September to 475. Months of supply dropped from 9 to 7, moving Richmond into balanced-market territory. The sales-to-listings ratio climbed from 37% to 53%, indicating a meaningful improvement in market absorption.

In Burnaby East, sales increased 47% from September, reaching 22 transactions. Active listings declined 5% to 166, while new listings dropped 31% to just 42. Months of supply improved from 12 to 8, although the area remains in a buyer’s market. The sales-to-listings ratio rose sharply from 25% to 52%. The lower number of new listings is an important part of this story, helping the market absorb available inventory more quickly.

Burnaby North also experienced a strong monthly rebound, with 123 sales, up 32% from September. Active listings declined 5% to 920, and new listings fell 11% to 288. Months of supply dropped from 10 to 7, placing the area in balanced market territory. The sales-to-listings ratio increased from 29% to 43%. Although sales remain 16% below October 2025, the improvement in current market conditions is encouraging.

Burnaby South recorded a more modest increase. Sales rose 5% from September to 105, while active listings declined 4% to 805. New listings were down 6% from the previous month. Months of supply remained at 8, keeping the area in buyer’s-market territory, although the sales-to-listings ratio improved from 36% to 41%. The market is showing some improvement, but the shift has been less pronounced than in Burnaby North or Richmond.

New Westminster Picking Up

New Westminster recorded 81 sales in October, up 7% from September and 5% from August. Active listings declined 7% to 585, while new listings fell 11% to 202. Months of supply improved from 8 to 7, bringing the market into balanced territory. The sales-to-listings ratio increased from 33% to 40%. While sales remained 17% below October last year, the recent improvement in absorption is a positive development.

Tri-Cities

Port Coquitlam delivered one of the strongest results in the region: 78 sales, up 42% from September and 13% from last year, with a 54% sales-to-listings ratio and just 5 months of supply. Coquitlam was equally encouraging, climbing 33% to 187 sales, edging past last October, and improving its ratio from 27% to 43%. Port Moody held steady at 47 sales, and its 6% monthly drop in active listings keeps conditions moving in the right direction.

Eastern Valley Improvements

Pitt Meadows remains the region’s tightest market. Sales reached 35 units, up 21% from both September and last October, and active listings fell 23% to just 99, producing an 89% sales-to-listings ratio and 3 months of supply. Maple Ridge posted one of the largest monthly gains in the region, rising 45% to 113 units and finishing slightly ahead of last year, while supply dropped from 12 months to 8.

South Delta

This community struggled to compete with sales levels last year. Ladner recorded 18 sales, up 13% from September but down 40% from October last year. Tsawwassen recorded 37 sales, up 16% from September but down 27% from October 2025. Active listings dropped in both communities more than other parts of Metro Vancouver on the back of steeper declines in new listings. The slower sales kept both in buyers’ markets, with Ladner at 10 months of supply and Tsawwassen at 8. Talk of the tunnel becoming a bridge in a shorter time frame could help to attract more activity to this market.

Fraser Valley Remains a Buyer’s Market

The Fraser Valley market, while ahead of September sales, fell behind October last year and remains a buyer’s market with inventory still elevated. The detached market once again outperformed townhomes and condos with sales up from last year as well as September. Sales of detached homes were up 2% compared to October last year, while townhomes were down 18% and condos were down 20%. Months of supply overall are down to 9, after finishing September with 11 months of supply. The detached market stayed at 10 months of supply, thanks to stronger sales in October. Townhomes are at 6 months’ supply though, showing that kind of product is in short supply – even in a slower market. New listings in October were down 14% year-over-year and down 10% from September, while active listings are down 10% compared to October 2025 and down 6% from September.

Looking Ahead: A Stronger Fall Market Takes Shape

October’s numbers provide some encouraging evidence that Greater Vancouver’s real estate market is gaining traction. Sales increased across most communities, active listings declined in nearly every submarket, and the overall sales-to-listings ratio moved back above 40%. Several areas, including Vancouver East Side, North Vancouver, Richmond, Burnaby North, New Westminster, Coquitlam and Port Coquitlam, moved into balanced-market conditions. Pitt Meadows tightened further into seller’s-market territory.

That said, it is important to keep the broader picture in perspective. Greater Vancouver still has 8 months of supply, and many communities remain in buyer’s-market conditions. Sales across the region are also below October 2025 levels, and the market is not experiencing a uniform recovery. West Vancouver, Ladner and several other areas continue to have substantial inventory relative to sales.

The more important development may be happening on the supply side. Active listings across Greater Vancouver are down 4% from September and 4% year over year, while new listings are down 18% from September. If this trend continues and buyer activity holds up, the market could become progressively more balanced through the winter and into early 2027.

For buyers, there is still opportunity, particularly in neighbourhoods with higher months of supply. For sellers, improving absorption is encouraging, but pricing and presentation remain critical. The October numbers suggest that the market is moving in a more positive direction. Whether that momentum carries into the winter will depend on how many buyers remain active and how much new inventory comes to market.

Overall, October was a step in the right direction: more sales, fewer listings and a market gradually finding its balance.

Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in October were 2,024, up from 1,717 (18%) in September, up from 1,869 (8%) in August, down from 2,061 (2%) in July, down from 2,255 (10%) in October 2025, down from 2,632 (23%) in October 2024, and up from 1,996 (1%) in October 2023; Active Listings were at 15,688 at month end compared to 16,393 at that time last year (down 4%) and 16,394 at the end of September (down 4%); the 4,905 New Listings in October were down 18% compared to September, up 18% compared to August, down 4% compared to July, down 11% compared to October 2025, down 12% compared to October 2024 and up 3% compared to October 2023. Month’s supply of total residential listings is down to 8 months from 10 (buyer’s market conditions) and sales to listings ratio of 41% compared to 29% in September, 45% in August, 40% in July, 41% in October 2025, 47% in October 2024 and 42% in October 2023. 

Vancouver Westside: Total Units Sold in October were 335, up from 306 (9%) in September, down from 349 (4%) in August, down from 362 (7%) in July, down from 403 (17%) in October 2025, down from 472 (29%) in October 2024, and down from 352 (5%) in October 2023; Active Listings were at 2,929 at month end compared to 3,104 at that time last year (down 6%) and 2,960 at the end of September (down 1%); the 954 New Listings in October were down 17% compared to September, up 22% compared to August, up 4% compared to July, down 10% compared to October 2025, down 16% compared to October 2024 and down 5% compared to October 2023. Month’s supply of total residential listings is down to 9 months from 10 (buyer’s market conditions) and sales to listings ratio of 35% compared to 27% in September, 45% in August, 40% in July, 38% in October 2025, 41% in October 2024 and 35% in October 2023.

Vancouver East Side: Total Units Sold in October were 238, up from 183 (30%) in September, up from 204 (17%) in August, down from 244 (2%) in July, down from 269 (12%) in October 2025, down from 282 (16%) in October 2024, and up from 231 (3%) in October 2023; Active Listings were at 1,727 at month end compared to 1,654 at that time last year (up 4%) and 1,738 at the end of September (down 1%); the 648 New Listings in October were down 16% compared to September, up 46% compared to August, up 17% compared to July, up 7% compared to October 2025, up 6% compared to October 2024 and up 14% compared to October 2023. Month’s supply of total residential listings is down to 7 months from 9 (balanced market conditions) and sales to listings ratio of 37% compared to 24% in September, 46% in August, 44% in July, 45% in October 2025, 46% in October 2024 and 41% in October 2023.

North Vancouver: Total Units Sold in October were 168, up from 126 (33%) in September, up from 138 (22%) in August, up from 153 (10%) in July, down from 188 (11%) in October 2025, down from 224 (25%) in October 2024, and down from 194 (13%) in October 2023; Active Listings were at 1,008 at month end compared to 1,000 at that time last year (up 1%) and 1,066 at the end of September (down 5%); the 398 New Listings in October were down 29% compared to September, up 34% compared to August, up 1% compared to July, up 7% compared to October 2025, down 19% compared to October 2024 and up 7% compared to October 2023. Month’s supply of total residential listings is down to 6 months from 8 (balanced market conditions) and sales to listings ratio of 42% compared to 22% in September, 47% in August, 39% in July, 44% in October 2025, 46% in October 2024 and 52% in October 2023.

West Vancouver: Total Units Sold in October were 45, down from 60 (25%) in September, down from 52 (13%) in August, down from 54 (17%) in July, down from 58 (22%) in October 2025, down from 59 (24%) in October 2024, and down from 53 (15%) in October 2023; Active Listings were at 626 at month end compared to 761 at that time last year (down 18%) and 652 at the end of September (down 4%); the 159 New Listings in October were down 12% compared to September, up 9% compared to August, down 2% compared to July, down 28% compared to October 2025, down 25% compared to October 2024 and down 5% compared to October 2023. Month’s supply of total residential listings is up to 14 months from 11 (buyer’s market conditions) and sales to listings ratio of 28% compared to 33% in September, 36% in August, 33% in July, 26% in October 2025, 28% in October 2024 and 32% in October 2023.

Richmond: Total Units Sold in October were 251, up from 226 (11%) in September, up from 221 (14%) in August, up from 227 (11%) in July, up from 236 (6%) in October 2025, down from 290 (13%) in October 2024, and up from 217 (16%) in October 2023; Active Listings were at 1,844 at month end compared to 2,137 at that time last year (down 14%) and 2,003 at the end of September (down 8%); the 475 New Listings in October were down 23% compared to September, up 2% compared to August, down 15% compared to July, down 22% compared to October 2025, down 19% compared to October 2024 and down 1% compared to October 2023. Month’s supply of total residential listings is down to 7 months from 9 (balanced market conditions) and sales to listings ratio of 53% compared to 37% in September, 48% in August, 40% in July, 39% in October 2025, 49% in October 2024 and 45% in October 2023.

Burnaby East: Total Units Sold in October were 22, up from 15 (47%) in September, down from 26 (15%) in August, the same as 22 in July, down from 32 (31%) in October 2025, down from 25 (12%) in October 2024, and up from 21 (5%) in October 2023; Active Listings were at 166 at month end compared to 212 at that time last year (down 22%) and 175 at the end of September (down 5%); the 42 New Listings in October were down 31% compared to September, down 25% compared to August, down 39% compared to July, down 45% compared to October 2025, down 39% compared to October 2024 and down 12% compared to October 2023. Month’s supply of total residential listings is down to 8 months from 12 (buyer’s market conditions) and sales to listings ratio of 52% compared to 25% in September, 46% in August, 32% in July, 42% in October 2025, 36% in October 2024 and 44% in October 2023.

Burnaby North: Total Units Sold in October were 123, up from 93 (32%) in September, up from 106 (16%) in August, down from 135 (9%) in July, down from 147 (16%) in October 2025, down from 168 (27%) in October 2024, and down from 137 (10%) in October 2023; Active Listings were at 920 at month end compared to 880 at that time last year (up 5%) and 967 at the end of September (down 5%); the 288 New Listings in October were down 11% compared to September, up 5% compared to August, down 7% compared to July, down 14% compared to October 2025, down 2% compared to October 2024 and down 1% compared to October 2023. Month’s supply of total residential listings is down to 7 months from 10 (balanced market conditions) and sales to listings ratio of 43% compared to 29% in September, 39% in August, 43% in July, 44% in October 2025, 57% in October 2024 and 47% in October 2023.

Burnaby South: Total Units Sold in October were 105, up from 100 (5%) in September, up from 102 (3%) in August, down from 118 (11%) in July, up from 104 (1%) in October 2025, down from 166 (37%) in October 2024, and down from 120 (12%) in October 2023; Active Listings were at 805 at month end compared to 814 at that time last year (down 1%) and 837 at the end of September (down 4%); the 258 New Listings in October were down 6% compared to September, up 11% compared to August, up 2% compared to July, down 8% compared to October 2025, down 9% compared to October 2024 and up 14% compared to October 2023. Month’s supply of total residential listings is steady at 8 months supply (buyer’s market conditions) and sales to listings ratio of 41% compared to 36% in September, 44% in August, 47% in July, 37% in October 2025, 58% in October 2024 and 53% in October 2023.

New Westminster: Total Units Sold in October were 81, up from 76 (7%) in September, up from 77 (5%) in August, down from 84 (4%) in July, down from 98 (17%) in October 2025, down from 120 (32%) in October 2024, and the same as October 2023; Active Listings were at 585 at month end compared to 596 at that time last year (down 2%) and 627 at the end of September (down 7%); the 202 New Listings in October were down 11% compared to September, up 1% compared to August, down 13% compared to July, down 18% compared to October 2025, down 21% compared to October 2024 and up 32% compared to October 2023. Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 40% compared to 33% in September, 39% in August, 36% in July, 40% in October 2025, 47% in October 2024 and 53% in October 2023.

Coquitlam: Total Units Sold in October were 187, up from 141 (33%) in September, up from 150 (25%) in August, the same as July, up from 185 (1%) in October 2025, down from 246 (24%) in October 2024, and up from 167 (12%) in October 2023; Active Listings were at 1,243 at month end compared to 1,341 at that time last year (down 7%) and 1,324 at the end of September (down 6%); the 433 New Listings in October were down 16% compared to September, down 3% compared to August, down 11% compared to July, down 18% compared to October 2025, down 7% compared to October 2024 and up 6% compared to October 2023. Month’s supply of total residential listings is down to 7 months from 9 (balanced market conditions) and sales to listings ratio of 43% compared to 27% in September, 34% in August, 38% in July, 35% in October 2025, 53% in October 2024 and 41% in October 2023.

Port Moody: Total Units Sold in October were 47, up from 46 (2%) in September, down from 50 (6%) in August, down from 57 (18%) in July, down from 65 (28%) in October 2025, down from 66 (29%) in October 2024, and down from 51 (8%) in October 2023; Active Listings were at 355 at month end compared to 386 at that time last year (down 8%) and 376 at the end of September (down 6%); the 128 New Listings in October were down 16% compared to September, up 21% compared to August, down 10% compared to July, down 30% compared to October 2025, down 12% compared to October 2024 and up 51% compared to October 2023. Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 37% compared to 30% in September, 47% in August, 40% in July, 36% in October 2025, 45% in October 2024 and 60% in October 2023.

Port Coquitlam: Total Units Sold in October were 78, up from 55 (42%) in September, up from 60 (30%) in August, up from 57 (37%) in July, up from 69 (13%) in October 2025, up from 77 (1%) in October 2024, and up from 54 (44%) in October 2023; Active Listings were at 388 at month end compared to 374 at that time last year (up 4%) and 413 at the end of September (down 6%); the 144 New Listings in October were down 23% compared to September, up 58% compared to August, down 15% compared to July, down 4% compared to October 2025, down 3% compared to October 2024 and up 26% compared to October 2023. Month’s supply of total residential listings is down to 5 months from 8 (balanced market conditions) and sales to listings ratio of 54% compared to 29% in September, 66% in August, 34% in July, 46% in October 2025, 52% in October 2024 and 47% in October 2023.

Pitt Meadows: Total Units Sold in October were 35, up from 29 (21%) in September, up from 31 (13%) in August, up from 24 (46%) in July, up from 29 (21%) in October 2025, up from 32 (9%) in October 2024, and up from 21 (67%) in October 2023; Active Listings were at 99 at month end compared to 129 at that time last year (down 23%) and 129 at the end of September (down 23%); the 39 New Listings in October were down 26% compared to September, up 26% compared to August, down 28% compared to July, down 17% compared to October 2025, down 32% compared to October 2024 and down 17% compared to October 2023. Month’s supply of total residential listings is down to 3 months from 4 (seller’s market conditions) and sales to listings ratio of 89% compared to 54% in September, 100% in August, 44% in July, 61% in October 2025, 56% in October 2024 and 44% in October 2023.               

Maple Ridge: Total Units Sold in October were 113, up from 78 (45%) in September, up from 96 (18%) in August, up from 109 (4%) in July, up from 110 (3%) in October 2025, down from 143 (21%) in October 2024, and up from 110 (3%) in October 2023; Active Listings were at 854 at month end compared to 951 at that time last year (down 10%) and 904 at the end of September (down 6%); the 255 New Listings in October were down 5% compared to September, up 23% compared to August, down 20% compared to July, down 12% compared to October 2025, down 19% compared to October 2024 and down 23% compared to October 2023. Month’s supply of total residential listings is down to 8 months from 12 (buyer’s market conditions) and sales to listings ratio of 44% compared to 29% in September, 46% in August, 34% in July, 37% in October 2025, 45% in October 2024 and 33% in October 2023.

Ladner: Total Units Sold in October were 18, up from 16 (13%) in September, down from 29 (38%) in August, down from 21 (14%) in July, down from 30 (40%) in October 2025, down from 31 (42%) in October 2024, and down from 24 (25%) in October 2023; Active Listings were at 173 at month end compared to 156 at that time last year (up 11%) and 190 at the end of September (down 9%); the 42 New Listings in October were down 34% compared to September, down 9% compared to August, down 9% compared to July, down 30% compared to October 2025, down 31% compared to October 2024 and down 5% compared to October 2023. Month’s supply of total residential listings is down to 10 months from 12 (buyer’s market conditions) and sales to listings ratio of 43% compared to 25% in September, 63% in August, 46% in July, 50% in October 2025, 51% in October 2024 and 55% in October 2023. 

Tsawwassen: Total Units Sold in October were 37, up from 32 (16%) in September, down from 39 (5%) in August, down from 43 (14%) in July, down from 51 (27%) in October 2025, up from 36 (3%) in October 2024, and up from 27 (37%) in October 2023; Active Listings were at 282 at month end compared to 314 at that time last year (down 10%) and 309 at the end of September (down 9%); the 63 New Listings in October were down 39% compared to September, up 7% compared to August, down 30% compared to July, down 32% compared to October 2025, down 21% compared to October 2024 and down 16% compared to October 2023. Month’s supply of total residential listings is down to 8 months from 10 (buyer’s market conditions) and sales to listings ratio of 59% compared to 31% in September, 66% in August, 48% in July, 55% in October 2025, 45% in October 2024 and 36% in October 2023.

Fraser Valley: Total Units Sold in October were up 14% at 1,051 compared to September at 922 and were down 6% from October 2025 at 1,123. New listings were down 10% at 2,551 from September at 2,818 and down 14% from October 2025 at 2,967. The benchmark price of $860,000 was down 0.1% month-over-month and was down 6.4% year-over-year. Active listings at 9,164 were down 6% compared to last month at 9,763 and down 10% from October 2025 at 10,121. Month’s supply of total residential listings is dropped to 9 months from 11 (buyer’s market conditions).