Brought to you by North Vancouver real estate agent and realtor Jim Pilkington of Oakwyn Realty
Apartments Lead the Market Lower, While North Vancouver’s Family Homes Show More Resilience
The Metro Vancouver real estate market continued to experience softer conditions in September, with residential sales down 8.4% from the same month last year. While the headline number may sound concerning, a closer look at the numbers tells a more interesting story — and for North Vancouver buyers and sellers, there are some important distinctions between property types.
The Greater Vancouver REALTORS® (GVR) reported 1,717 residential sales across Metro Vancouver in September 2026, an 8.4% decrease from the 1,875 sales recorded in September 2025. Sales were also 25% below the 10-year seasonal average of 2,289.
However, the decline was largely driven by the apartment market. Detached and attached home sales actually finished slightly ahead of September 2025, suggesting that buyers who are purchasing homes for themselves and their families continue to be active, while investor demand remains more cautious.
What Does This Mean for North Vancouver?
This distinction is particularly important when looking at North Vancouver. Our market is heavily influenced by end-users — families looking for more space, buyers wanting access to North Vancouver’s incredible schools, trails and outdoor lifestyle, and homeowners moving within the community.
While apartment buyers may currently have more negotiating power and choice, well-located family homes can continue to attract attention when they are properly priced and marketed.
According to GVR chief economist Andrew Lis, the weakness in September was concentrated in the apartment segment, while detached and attached sales were slightly higher than a year ago. This supports the view that end-users remain the primary drivers of the market, while investor activity waits for more favourable conditions.
Inventory Gives Buyers More Choice
There were 5,852 detached, attached and apartment properties newly listed for sale across Metro Vancouver in September. That represents a 10.3% decrease from September 2025 and is 5.7% above the 10-year seasonal average.
There are currently 16,394 properties listed for sale across Metro Vancouver, down 4% from September 2025, but still 24.3% above the 10-year seasonal average.
For North Vancouver buyers, this means there is still considerably more choice than we have seen during the extremely competitive markets of previous years. Buyers who are prepared, patient and understand current market values are in a much better position to negotiate and make informed decisions.
For sellers, however, this elevated inventory means pricing and presentation are more important than ever. Simply putting a home on the market and expecting multiple offers is no longer a reliable strategy. The homes that stand out are the ones that are priced correctly, professionally presented and marketed to the right buyers.
Prices Continue to Edge Lower
The sales-to-active-listings ratio across Metro Vancouver was 10.9% in September. Historically, sustained ratios below 12% can create downward pressure on prices, while ratios above 20% can create upward pressure.
The result is a market that continues to favour buyers in many segments, with prices gradually adjusting rather than experiencing a dramatic decline.
The Metro Vancouver composite benchmark price is now $1,075,900 — down 5.5% from September 2025 and 0.6% from August 2026.
Andrew Lis noted that slower sales combined with declining inventory has helped prevent prices from falling too quickly. However, the cumulative effect of several months of small monthly declines is becoming more noticeable, with all major market segments now sitting roughly 3% below where they started the year.
Detached Homes Continue to Show Resilience
Detached home sales were one of the brighter spots in September, with 575 sales — a 4.2% increase compared with September 2025.
The benchmark price for a detached home across Metro Vancouver is now $1,784,700, down 7.3% from September 2025 and 0.8% from August.
For North Vancouver homeowners, this is an important trend to watch. Detached homes remain a highly sought-after segment of our local market, particularly properties offering desirable locations, good floor plans, outdoor space and renovation or redevelopment potential.
That said, buyers are still being selective. A great North Vancouver home can generate strong interest, but pricing expectations need to reflect today’s market rather than yesterday’s peak.
Apartment Market Feeling the Most Pressure
The apartment segment continues to be the softest part of the market.
There were 777 apartment sales in September 2026, an 18.6% decrease from the 954 sales recorded in September 2025.
The apartment benchmark price is now $682,500, representing a 6.2% decrease from September 2025 and a 0.5% decrease from August.
This is particularly relevant to North Vancouver’s condo market, where buyers currently have more choice and greater negotiating power than they have had in recent years. Sellers of condos need to be realistic about competing inventory and ensure their property is positioned properly from day one.
Attached Homes Remain Relatively Steady
Attached home sales were considerably more stable, with 358 sales in September — a slight 0.6% increase from the 356 sales recorded in September 2025.
The benchmark price for a townhouse is now $1,016,700, down 4.7% from September 2025 and 1.2% from August.
Townhomes continue to be an important part of the North Vancouver market, particularly for families looking for more space than a condo can provide without taking on the price of a detached home.
The North Vancouver Takeaway
September’s numbers reinforce something I’ve been seeing in the North Vancouver market: this isn’t one market — it’s several different markets depending on the property type, location, condition and price point.
Apartments are experiencing the greatest sales pressure, while detached and attached homes are proving somewhat more resilient. Buyers have more negotiating power, but desirable homes that are priced appropriately can still attract strong attention.
For sellers, the message is straightforward: pricing matters. Presentation matters. Marketing matters. And understanding the specific North Vancouver market you’re competing in matters more than ever.
For buyers, today’s market presents an opportunity to take your time, do your due diligence and negotiate from a position of strength — something that hasn’t always been possible in North Vancouver.
As we move further into the fall market, I’ll be watching sales activity, inventory levels and pricing closely, particularly across North Vancouver’s detached, townhouse and apartment segments.
If you’re considering buying or selling in North Vancouver, I’d be happy to provide a more specific analysis of what these market numbers mean for your particular neighbourhood and property.
