By Colin Colpitts, PREC* · Apex Real Estate Group · October 28, 2026

Your current home may sell for less than you hoped. The home you want may have fallen by even more.

For someone who needs another bedroom, a yard or room for a growing family, that difference deserves a closer look. For a first time buyer, the opportunity is different: finding a suitable home at a price and monthly payment they can comfortably carry.

That is the conversation worth having across Coquitlam, Port Moody, Port Coquitlam, Pitt Meadows, Maple Ridge and Burnaby.

The Bank of Canada raised its policy rate by 0.25 percentage points to 2.50% on October 28. I expect that to make some buyers more cautious. Bank of Canada announcement

Moving up? Calculate the gap.

Consider this hypothetical example. Your current home falls 10%, from $1 million to $900,000. The larger home you want also falls 10%, from $1.6 million to $1.44 million.

The purchase price gap shrinks from $600,000 to $540,000.

That is $60,000 less to bridge, before selling costs, applicable property transfer tax, mortgage penalties and financing.

Price changes vary by neighbourhood and property type. A smaller price gap can still mean a higher monthly payment if your new borrowing rate is higher.

Buying your first home? Use the time to choose carefully.

When competition is lower, use the breathing room to compare homes and negotiate appropriate financing, inspection and document review conditions.

Look beyond the listing price. For a condo or townhouse, review the strata’s finances, maintenance plans and potential major expenses. Allow for property taxes, strata fees, insurance, upkeep and an emergency reserve.

Choose a home that can meet your needs for several years, with a budget that remains manageable if prices soften further or borrowing costs rise.

Get clear on the mortgage before making an offer

Variable rates generally follow lender prime rates. Existing fixed rates stay unchanged for the current term, while new fixed mortgage offers respond to bond markets and lender funding costs. Bank of Canada mortgage guidance · Bank of Canada mortgage market speech

For a financing review, connect with Michael Hallett at Hallett Mortgage or Mark Azodi at TD Bank. Ask what you qualify for, what the payments would be and which mortgage options suit your plans. Existing owners should also discuss portability and any costs of changing their mortgage.

What the local numbers show

GVR’s September 2026 report provides the latest complete monthly snapshot. These are annual declines in the MLS® Home Price Index compared with September 2025. They predate the October 28 rate decision.

GVR reports Burnaby in three areas. These index changes describe typical properties, not the change in value of every individual home. GVR September 2026 HPI tables

Across GVR’s wider reporting region, September sales were 25% below the seasonal average for the past decade, while active listings were 24.3% above it. GVR monthly report

Today’s construction decisions affect tomorrow’s choices

CMHC reports a 40% decline in condominium apartment starts in the Vancouver metropolitan area in the first half of 2026, while rental construction remained stronger. These are regional figures, rather than separate totals for each municipality. CMHC Fall 2026 Housing Supply Report

Fewer condo starts can mean fewer completed homes available to buy several years later. If demand recovers before ownership supply catches up, competition could increase toward the end of the decade. Jobs, population growth, existing unsold inventory and interest rates will influence that outcome.

Let’s put a number on your next move

Before deciding to wait, let’s compare homes within your budget with recent sales and the mortgage payments your financing professional has outlined. If you already own, we will include realistic sale proceeds and the costs of moving.

Contact me through ApexREG.ca for a clear comparison of what your next move could cost.

Rates went up. Your next move deserves a closer look.

The Bank of Canada raised its policy rate to 2.50% on October 28.

My view: this will make some Greater Vancouver buyers more cautious. For buyers who are financially ready, a quieter market can also create negotiating room.

UPSIZING?

The gap between your current home and your next home matters.

Hypothetically, if a $1 million home and a $1.6 million home both fall 10%, the gap shrinks from $600,000 to $540,000.

That is $60,000 less to bridge before transaction costs and financing. Your monthly payment still needs to work.

BUYING YOUR FIRST HOME?

Use the opportunity to compare properties, review the building and negotiate appropriate conditions. Start with an updated mortgage approval and a budget that includes all ownership costs.

LOOKING FURTHER AHEAD?

CMHC reports Vancouver condo apartment starts fell 40% in the first half of 2026. That could mean fewer new ownership options later this decade if demand recovers.

Nobody can reliably call the bottom. A purchase should work even if prices soften further.

Text me MOVE to 6045619558 and let’s look at what a first purchase or move up could mean for you.

#GreaterVancouverRealEstate #VancouverRealEstate #FirstTimeHomeBuyer #Upsizing #ColinColpitts

October 20, 2026 | By Colin Colpitts, PREC, Apex Real Estate Group

If you're thinking about selling your home in Coquitlam, Port Moody, Port Coquitlam or Burnaby North, you may be asking yourself one important question:

Should I sell now, or wait until spring 2027?

It's a decision that could have a significant financial impact, particularly if you're planning to purchase another property.

Spring is traditionally associated with increased real estate activity, but waiting doesn't guarantee a higher selling price. More buyers can also mean more competing listings.

And with the latest Metro Vancouver market statistics showing slower sales and continued pressure on prices, homeowners have good reason to carefully consider their next move.

Let's look at what the numbers tell us and how to decide what makes sense for your property.

What Is Happening in the Real Estate Market Right Now?

According to Greater Vancouver REALTORS, September 2026 recorded 1,717 residential sales across Metro Vancouver.

That represents an 8.4% decrease from September 2025 and sales activity 25% below the ten year seasonal average.

At the end of September, there were 16,394 properties listed for sale, approximately 24.3% above the ten year seasonal average.

The composite benchmark price was $1,075,900, down 5.5% compared with September 2025.

The overall sales to active listings ratio was 10.9%.

These figures point to a market where buyers have considerable choice and sellers face meaningful competition.

However, these are regional figures. Conditions can vary significantly between Coquitlam, Port Moody, Port Coquitlam and Burnaby North, and between condos, townhouses and detached homes.

Why Waiting Until Spring Doesn't Guarantee a Better Price

One of the most common assumptions in real estate is that spring is automatically the best time to sell.

There are reasons spring can be attractive. Longer days, improved weather and families planning moves around the school calendar can influence activity.

But there's another side to the equation.

More buyers don't necessarily mean less competition for your home.

Spring can also bring additional listings, giving buyers more properties to choose from.

If you're selling a property that competes with several similar homes in your neighbourhood, the amount of competing inventory can matter just as much as the season.

Rather than focusing exclusively on the calendar, we recommend looking at current supply, recent sales and buyer demand for your particular property.

The Biggest Mistake Sellers Can Make in a Slower Market

Pricing based on what a neighbour sold for a year ago.

Real estate markets change, and older sales don't necessarily reflect what buyers are willing to pay today.

A home that sold for a particular price during a stronger market may not command that same amount under different conditions.

When determining an appropriate asking price, we look at:

• Recent comparable sales in the immediate neighbourhood

• Current competing properties

• Listings that have expired or been cancelled

• Property condition and renovations

• Lot size, location and layout

• Views, exposure and suite potential

• Buyer demand within the specific price range

The goal isn't simply to choose the highest possible asking price.

It's to position your property where qualified buyers recognize its value.

Why the First Few Weeks of Your Listing Matter

When a property first comes to market, it receives exposure to buyers actively watching that neighbourhood and price range.

These buyers may already have alerts set up and may have toured competing homes.

If your property is priced substantially above comparable alternatives, some buyers may decide not to view it.

Reducing the price later can help generate renewed interest, but it doesn't guarantee those buyers will return.

This is why we believe pricing, presentation and marketing should work together from the first day a property is listed.

What If You're Selling and Buying Another Home?

This is where the decision becomes particularly interesting.

Many homeowners focus almost entirely on what they can sell their existing property for.

But if you're purchasing another home, the more important number may be the difference between the two transactions.

Consider this hypothetical example.

You currently own a townhouse worth $900,000 and want to purchase a detached home for $1,500,000.

The difference is $600,000.

Now imagine market conditions change and your townhouse is worth $860,000, while the detached home you're considering is available for $1,400,000.

The difference becomes $540,000.

Although you would receive $40,000 less for your townhouse, the price gap between the two properties would decrease by $60,000.

These figures are illustrative only, not actual comparable sales or a prediction of future prices. Transaction costs and financing expenses would also affect the overall outcome.

The important lesson is that selling for less doesn't always mean your next move becomes more expensive.

Is Fall 2026 a Good Time to Buy a Home?

For certain buyers, current conditions may offer advantages.

With more inventory available and sales below historical seasonal levels, buyers may have additional opportunities to compare properties and negotiate.

But not every property is a bargain.

A well located home that is priced appropriately can still attract strong interest.

The key is understanding value.

Before purchasing, buyers should consider recent comparable sales, property condition, financing, neighbourhood characteristics and any potential future expenses.

For strata properties, reviewing the financial statements, depreciation report, meeting minutes, bylaws and potential special assessments is especially important.

What About Interest Rates?

The next scheduled Bank of Canada interest rate announcement is October 28, 2026.

With inflation concerns and economic uncertainty continuing to influence financial markets, borrowers should avoid assuming that mortgage rates will automatically decline.

Variable mortgage rates are influenced by lenders' prime rates, which generally respond to changes in the Bank of Canada's policy rate.

Fixed mortgage rates are influenced by broader financial market conditions and lenders' funding costs.

For buyers and homeowners considering a move, affordability should be evaluated using actual financing options available today rather than relying on predictions about future interest rates.

What Does This Mean for Coquitlam Homeowners?

Coquitlam contains several distinct housing markets.

A detached home in Central Coquitlam, a townhouse on Burke Mountain and a condo near Coquitlam Centre will not necessarily experience the same buyer demand or pricing trends.

For sellers, this means the most useful comparisons are recent sales involving genuinely similar properties.

For buyers, it means looking beyond broad Metro Vancouver averages to identify value within specific neighbourhoods.

What About Port Moody?

Port Moody offers a diverse selection of properties, from condominiums in Suter Brook and Newport Village to detached homes in Heritage Woods, College Park and Glenayre.

Each of these markets has different characteristics and buyer expectations.

Understanding current competing inventory and recent comparable sales is essential when determining an appropriate price.

What About Port Coquitlam?

Port Coquitlam offers a range of condos, townhouses and detached homes across neighbourhoods such as Citadel, Glenwood, Riverwood, Oxford Heights and Mary Hill.

Buyers comparing Port Coquitlam with neighbouring communities may find differences in property size, age, location and overall value.

For sellers, identifying which properties buyers are likely to compare against yours is an important part of establishing the right strategy.

What About Burnaby North?

Burnaby North is another market where location and property type can produce very different results.

A condominium in Brentwood competes in a different segment from a detached home in Capitol Hill, Montecito or Government Road.

Pricing should reflect the property and its immediate competition rather than relying exclusively on a citywide or regional average.

Five Questions to Ask Before Deciding to Sell

Before deciding whether to list this fall or wait until 2027, consider the following.

1. What would my home realistically sell for today?

Not its assessed value or an automated online estimate, but a market value supported by recent comparable sales.

2. How much competition would I face?

Look at the number of similar properties currently listed in your neighbourhood and price range.

3. Am I buying another property?

If so, consider the overall cost of the move rather than just your expected selling price.

4. What will waiting cost me?

Mortgage payments, property taxes, strata fees, insurance, maintenance and other carrying costs may continue while you wait. Some of these costs would also exist in your next home, so compare the actual difference.

5. What if the market changes?

Waiting could work in your favour, but it could also expose you to lower prices, different borrowing costs or increased competition.

Nobody can guarantee what spring 2027 will bring.

Frequently Asked Questions

Is October a bad time to sell a home in Coquitlam?

Not necessarily. The right timing depends on your property's price range, competing inventory, condition and your personal circumstances. A well prepared and appropriately priced home can attract buyers outside the traditional spring market.

Will home prices rise in spring 2027?

There is no reliable way to guarantee that. Future prices will depend on economic conditions, interest rates, inventory and buyer demand.

Should I renovate before selling?

It depends on the renovation cost and how buyers value the improvement. Cleaning, painting and minor repairs may improve presentation without requiring major spending. Larger renovations should be evaluated carefully against their likely return.

Is it better to buy before selling?

Both approaches carry risks. Buying first can provide certainty about your next home but may create financing and carrying cost pressure. Selling first can provide greater certainty about your available proceeds but may leave you needing temporary accommodation.

The appropriate strategy depends on your financing, risk tolerance and local market conditions.

How do I know what my home is worth?

A current comparative market analysis considers recent comparable sales, competing listings, property characteristics and current market conditions. BC Assessment and automated valuations can provide reference points, but they are not substitutes for current market evidence.

Thinking About Selling? Start With the Numbers.

If you're considering selling your home in Coquitlam, Port Moody, Port Coquitlam or Burnaby North, the first step doesn't need to be putting a sign on your lawn.

It should be understanding your options.

At Apex Real Estate Group, we can review recent comparable sales, current competition and the characteristics of your property to help you determine what your home could realistically sell for in today's market.

If you're planning to purchase another property, we can also look at both sides of the transaction and help you understand the financial implications of moving now versus waiting.

You don't need to be ready to list to have that conversation.

Whether you're considering selling this fall, next spring or simply exploring your options, we're happy to provide straightforward advice based on the market and your goals.

Colin Colpitts, PREC
Apex Real Estate Group
Royal LePage Sterling Realty
604.561.9558
ColinColpitts.com
ApexREG.ca

First Class Service. Always.

Sources and market data: Greater Vancouver REALTORS, September 2026 Monthly Market Report; Bank of Canada, scheduled policy interest rate announcements. Market statistics reflect Metro Vancouver overall, not individual municipal or neighbourhood results.