What Homeowners Thinking About Selling Need to Know
As we move toward the end of 2026, the real estate market across Metro Vancouver continues to change. For homeowners considering selling, whether in the coming months or sometime in 2027, understanding these changes is an important part of making informed decisions.
October's statistics show that homes are still selling, but market conditions vary depending on location and property type.
Benchmark prices are lower than a year ago across Metro Vancouver, Burnaby South, and New Westminster. However, some property types are selling faster, while others are spending considerably more time on the market.
For sellers, this reinforces something I've always believed: a successful sale starts with understanding your local market, setting realistic expectations, and developing the right strategy.
Let's take a closer look at what happened in October.
Metro Vancouver: A Market That Rewards Preparation
Across Metro Vancouver, October brought fewer sales and lower benchmark prices compared to the same month last year.
Here's how the three major property types performed:
🏠 Detached Homes
Benchmark Price: $1,775,200 (down 7.0% year-over-year)
649 homes sold (down 6.5%)
Average Days on Market: 44
🏢 Condos
Benchmark Price: $673,400 (down 5.9%)
893 condos sold (down 17.1%)
Average Days on Market: 44
🏘️ Townhomes
Benchmark Price: $1,006,500 (down 5.5%)
342 townhomes sold (down 10.0%)
Average Days on Market: 36
One interesting detail is that the number of active listings has decreased across all three property types compared to October 2025.
However, sales have also declined.
For homeowners, this is an important distinction. Having fewer competing properties on the market doesn't automatically mean your home will sell quickly or achieve your preferred price.
Buyers are comparing properties carefully, and sellers need to understand what makes their home competitive.
This means looking beyond the asking prices of neighbouring properties and paying attention to what comparable homes are actually selling for.
Burnaby South: Encouraging Activity for Detached Home Sellers
Burnaby South produced some particularly interesting results in October, especially in the detached housing market.
🏠 Detached Homes
Benchmark Price: $1,904,400 (down 8.8% year-over-year)
22 homes sold (up 46.7%)
Average Days on Market: 33
🏢 Condos
Benchmark Price: $716,500 (down 7.9%)
49 condos sold (down 30.0%)
Average Days on Market: 52
🏘️ Townhomes
Benchmark Price: $922,900 (down 7.8%)
15 townhomes sold (down 21.1%)
Average Days on Market: 30
The detached market stands out.
Sales increased by nearly 47% compared to October 2025, while the average time required to sell dropped from 51 days to 33 days.
That's an encouraging sign for homeowners considering selling a detached property, even though benchmark prices remain below last year's levels.
Townhomes also sold considerably faster, with average days on market falling from 58 to 30. However, sales declined and active listings increased, suggesting that sellers still need to pay attention to their competition.
Condos are facing a different situation.
Sales declined by 30%, and properties took longer to sell than they did a year ago.
For condo owners, particularly around Metrotown and Highgate, understanding comparable listings, building features, strata fees, and recent sales is especially important.
A well-maintained property, realistic asking price, and effective marketing plan can help distinguish a home from competing listings.
Whether you own a detached property in South Slope, a condo in Metrotown, or a townhome near Highgate, the strategy should reflect what's happening in your particular neighbourhood.
New Westminster: Different Property Types, Different Results
New Westminster's October statistics tell another interesting story.
🏠 Detached Homes
Benchmark Price: $1,347,700 (down 9.9% year-over-year)
15 homes sold (down 6.3%)
Average Days on Market: 23
🏢 Condos
Benchmark Price: $565,900 (down 9.2%)
57 condos sold (down 21.9%)
Average Days on Market: 55
🏘️ Townhomes
Benchmark Price: $852,000 (down 5.3%)
9 townhomes sold (up 50.0%)
Average Days on Market: 47
Detached homes sold considerably faster than they did in October 2025, with average days on market declining from 36 to 23.
That's noteworthy considering benchmark prices were down nearly 10%.
Townhome sales increased from six to nine, although the average selling time increased substantially from 17 days to 47 days. With relatively few transactions, monthly figures in this segment can fluctuate significantly.
The condo market continues to present challenges for sellers.
Sales declined by nearly 22%, while average days on market increased from 39 to 55.
For homeowners in areas such as Downtown New Westminster, Uptown, and the Quay, this means paying careful attention to competing listings and recent comparable sales.
New Westminster has a diverse housing market, and the experience of selling a detached home in Queen's Park can be very different from selling a condo downtown or a townhome in Queensborough.
Understanding these differences is an important part of developing a realistic selling strategy.
What Do These Numbers Mean for Your Home's Value?
One question I frequently hear from homeowners is whether declining benchmark prices mean their own property has lost the same percentage in value.
The short answer is no, not necessarily.
The MLS® Home Price Index benchmark represents a typical property within a particular market segment. It helps us understand broader pricing trends, but it isn't a valuation of every individual home.
Your property's value depends on several factors, including its location, condition, size, features, recent comparable sales, and the competition at the time you list.
Two homes in the same neighbourhood can achieve very different results.
That's why I believe homeowners benefit from a property-specific market evaluation rather than relying solely on regional averages or online estimates.
Thinking About Selling in 2027? Start Planning Now.
If you're considering selling your home in the coming months or sometime next year, there are a few things worth thinking about before putting up that For Sale sign.
Understand your home's current market value.
Review recent comparable sales, current listings, and how long similar properties are taking to sell.
Prepare your home before listing.
Small improvements, maintenance, decluttering, and professional presentation can influence how potential buyers perceive your property.
Set a realistic asking price.
Pricing should reflect current market conditions rather than what a similar property may have sold for a year or two ago.
Develop a marketing strategy.
Professional photography, online exposure, effective property descriptions, and a clear plan for reaching potential purchasers all play an important role.
Be prepared to adjust.
Market conditions can change. Monitoring showing activity, feedback, and competing listings helps determine whether adjustments are needed.
A Changing Market Doesn't Mean You Should Put Your Plans on Hold
The October statistics show that Metro Vancouver is experiencing a more challenging market than we saw in previous years.
But that doesn't mean homeowners should automatically postpone their plans to sell.
People sell for many reasons: downsizing, relocating, retirement, changing family needs, or simply beginning a new chapter.
The right time to sell depends on your personal circumstances, your property, and your financial goals.
What matters is approaching the process with realistic expectations and a strategy suited to the current market.
A changing market doesn't eliminate opportunities. It changes how we need to approach them.
Let's Talk About Your Selling Plans
If you're thinking about selling your home in Burnaby, New Westminster, or elsewhere in Metro Vancouver, I'd be happy to discuss what October's market conditions could mean for your property.
Whether you're ready to list soon or simply exploring your options for 2027, understanding your home's potential value is a great place to start.
Every property has its own story, and every successful selling strategy should reflect that.
Let's have a conversation about your home, your goals, and how we can prepare for your next move.
Steve Davis | REALTOR®
Oakwyn Realty Encore
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.