Buying a home in Vancouver now may make sense if your financing is secure, the full monthly cost is comfortable, and you expect to keep the home long enough to absorb market changes. September 2026 regional data suggests buyers have options, but it does not make every listing a bargain. Your decision should depend on the specific home, neighbourhood, and your circumstances.
If you are considering a purchase, our Buying a Home guide explains how we help you plan your search, evaluate properties and move confidently through the buying process.
What does the latest market data tell buyers?
Greater Vancouver REALTORS® reported 1,717 residential sales in September 2026, 25% below the ten-year seasonal average. Active listings totalled 16,394, 24.3% above the seasonal average, although inventory was 4% lower than a year earlier. [1]
These are GVR regional figures, not City of Vancouver prices. Benchmark prices describe a typical home within the index; they are not appraisals or average sale prices.[1]
Our interpretation: subdued sales and elevated inventory may create negotiating opportunities. That is a starting point for property-level research, not a prediction that prices have bottomed.
Why there is no single Vancouver-wide answer
A one-bedroom condo in Downtown Vancouver, a townhouse in Cambie, and a detached house in Killarney are different buying decisions.
Even two homes on the same block may attract different levels of interest. Layout, condition, outdoor space, parking, strata finances, and asking price can all affect how appealing a home is to buyers.
Before deciding whether the market favours you, compare homes that match your actual search:
The same property type and a similar size.
The neighbourhoods you would realistically live in.
Comparable age, condition, and ownership structure.
Recent completed sales, alongside competing active listings.
The useful question is: Does this home offer good value against the alternatives I can buy today?
Condos: compare the building as carefully as the unit
Regional apartment sales fell 18.6% from September 2025, while attached and detached sales rose slightly.[1] That difference supports looking at each segment separately.
For a condo, an attractive purchase price is only part of the assessment. Review the strata documents, insurance, depreciation report, meeting minutes, contingency reserve fund, and upcoming work.
Ask whether your budget can handle the strata fee and potential increases or special levies. Compare the unit with recent sales in the same building when suitable examples exist.
A lower price can be useful. It cannot compensate for costs or restrictions you have not understood.
Townhouses: assess the features you actually need
For a townhouse, focus on how well the home solves your space and lifestyle needs. Check bedroom placement, stairs, storage, parking, outdoor space, and the daily commute.
Clarify the ownership structure and who pays for maintenance. A strata townhouse and a freehold home may place different responsibilities on you.
If only a few homes meet your requirements, a broad regional inventory figure may overstate the choice available to you. Compare your shortlist before assuming you can easily replace a suitable property.
Detached homes: include future work in the price
For a detached home, assess the purchase price together with likely repairs and ongoing upkeep.
Consider the roof, drainage, heating, electrical systems, and any renovations. If a suite is part of your affordability plan, verify its status, condition, and the income your lender will accept.
An inspection and appropriate specialist advice can help distinguish a manageable project from a purchase that would strain your finances.
Inventory, days on market, and buyer competition
More listings can give you more homes to compare. They do not guarantee that every seller will accept a large discount.
For each serious contender, ask:
How long has it been offered for sale, including previous listings?
Has the price changed?
What have comparable homes actually sold for?
How many realistic alternatives are available?
Is there verified competing interest?
Days on market can help frame a negotiation, but a long listing period does not prove a home is overpriced or defective. Likewise, a newly listed home is not automatically worth its asking price.
This article does not quote a Vancouver-wide days-on-market figure. Use current data for the neighbourhood and property type you are considering, and check whether relisting has reset the displayed count.
Financing: start with a comfortable monthly cost
Your maximum mortgage approval and your comfortable housing budget may be different.
Build a budget that includes the mortgage payment, property taxes, insurance, utilities, full strata fees where applicable, and maintenance savings. Keep cash available for closing expenses and emergencies.[2][3]
For most new uninsured mortgages at federally regulated lenders, the qualifying rate is the greater of the contract rate plus two percentage points or 5.25%. Confirm the requirements for your mortgage with your lender or broker.[4]
Ask for written payment scenarios using your actual down payment, mortgage amount, rate, and amortization. Then consider what happens if income drops, expenses rise, or renewal payments increase.
A home should fit your life after the purchase, not just qualify on the application.
When waiting may make sense
Waiting can be sensible if your income is uncertain, you are paying down expensive debt, or buying would leave you without an emergency reserve.
It may also help if you expect to move soon, have not settled on a neighbourhood, or cannot find a suitable home within your comfortable budget.
Give the waiting period a purpose: save a defined amount, improve financing, clarify your needs, or monitor a specific group of homes. Review those goals on a set date.
Waiting solely for a guaranteed market bottom is harder to plan around. Future prices and borrowing costs are uncertain.
When buying now may make sense
Buying may be reasonable when you have stable financing, a workable monthly budget, and a home that meets your needs for the foreseeable future.
It can also make sense when you have compared recent sales, understand the property's risks, and can negotiate a price and terms that work for you.
You do not need to buy at the lowest possible point for a purchase to serve your goals. You do need enough financial flexibility to live with the decision if the market changes.
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Questions to answer before deciding
What monthly housing cost can we comfortably sustain?
How much cash will remain after the down payment and closing costs?
How long do we realistically expect to own this home?
Which neighbourhoods and home types meet our daily needs?
What do comparable completed sales suggest about value?
What repair or strata expenses could arise?
Could we manage higher payments or a temporary income interruption?
If we wait, what specific improvement are we working toward?
Check out our Buying Tips
Buyer FAQs
Is Vancouver currently a buyer's market?
September's regional sales-to-active-listings ratio was 10.9%. GVR notes that sustained ratios below 12% have historically been associated with downward price pressure.[1] That suggests buyer-friendly conditions regionally, but a specific neighbourhood or listing may behave differently.
Should I wait for prices to fall further?
That depends on your budget, flexibility, and housing needs. Compare the potential benefit of a lower purchase price with the cost of waiting and possible changes in financing. Further declines are not guaranteed.
Is a condo or townhouse a better purchase right now?
Choose the home type that fits your needs and full ownership budget. A condo calls for careful building and strata review; a townhouse may provide a different mix of space, maintenance, and cost. Neither category is automatically the better buy.
Can I negotiate below asking price?
You can make an offer below asking. Whether it succeeds depends on comparable sales, competing listings, seller circumstances, and other offers. Base the offer on evidence rather than a standard discount.
Should I buy before selling my current home?
Assess whether you could carry both homes if the sale takes longer than expected. Start with a current home evaluation to estimate your likely sale proceeds, then confirm your financing and discuss the timing and contract options before committing.
How do I start without committing to buy?
Confirm a comfortable budget with a mortgage professional, choose a few target areas, and review suitable listings and recent sales. That gives you a clearer basis for deciding whether to proceed.
Let's assess whether buying makes sense for you
At Peak to Pier Real Estate Group, we can help you compare Vancouver neighbourhoods, review recent comparable sales, and assess homes against your priorities.
Contact Ashley Macintosh and Susan Pockett to discuss your budget, timeline, and the kind of home you are looking for.
Ashley Macintosh and Susan Pockett
Guiding you home – from Peak to Pier.
Peak to Pier Real Estate Group | RE/MAX Select Properties
Sources
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.