The Metro Vancouver real estate market entering fall 2026 is giving buyers more selection while putting increased pressure on sellers to price accurately. August home sales were 20.7 percent below the 10 year seasonal average, while available inventory was 26.2 percent above the 10 year seasonal average, according to Greater Vancouver REALTORS®.

For buyers and sellers in Coquitlam, Port Moody, Port Coquitlam and Burnaby North, those broader Metro Vancouver numbers provide important context, but they don't tell the entire local story.

From what we're seeing at Apex Real Estate Group, buyers are highly price sensitive. Well positioned properties can still attract attention, but buyers have more alternatives and are carefully comparing value.

So should you buy or sell this fall?

For buyers: higher inventory can create more choice and, depending on the property, negotiating opportunities.

For sellers: homes can still sell successfully, but pricing against today's comparable sales rather than yesterday's expectations is increasingly important.

For move up buyers: a softer market can create an interesting opportunity because the price difference between the property you're selling and the more expensive property you're buying may matter more than the value of either property on its own.

Let's look at the numbers.

Metro Vancouver Real Estate Market: September 2026

The latest complete monthly statistics available are for August 2026.

According to Greater Vancouver REALTORS®, 1,869 residential properties sold across Metro Vancouver in August.

That was 4.6 percent fewer sales than August 2025 and 20.7 percent below the 10 year seasonal average.

There were 4,100 new detached, attached and apartment listings during August.

At the end of the month, there were 15,798 properties available for sale across Metro Vancouver, 26.2 percent above the 10 year seasonal average.

Is Metro Vancouver Currently a Buyer's Market?

There isn't one answer that accurately describes every neighbourhood and property type.

The overall sales to active listings ratio was 12.3 percent in August 2026.

Detached homes were at 9.6 percent, attached homes at 15.1 percent and apartments at 13.7 percent.

Greater Vancouver REALTORS® notes that, historically, sustained ratios below 12 percent have been associated with downward pressure on prices, while sustained ratios above 20 percent have been associated with upward pressure.

Those thresholds are historical observations, not predictions about what prices will do next.

What the current numbers clearly show is that buyers have considerably more inventory to choose from than would be typical for August.

Are Metro Vancouver Home Prices Falling in 2026?

Metro Vancouver's composite benchmark price was $1,081,900 in August 2026, down 5.6 percent from August 2025 and 0.6 percent from July.

By property type:

Detached homes: $1,799,400, down 7.2 percent annually.

Townhouses: $1,028,800, down 4.4 percent annually.

Apartments: $686,200, down 6.6 percent annually.

These are Metro Vancouver wide benchmark figures.

They are not an estimate of what your home is worth.

Individual results can differ significantly depending on the municipality, neighbourhood, property type, condition, lot, building, price range and competing inventory.

What Is Happening in Coquitlam Real Estate?

The broader Metro Vancouver statistics provide context for Coquitlam, but buyers and sellers should be careful about applying regional averages to an individual Coquitlam property.

From our experience working in the local market, buyers are paying close attention to recent comparable sales and competing listings.

This makes accurate pricing particularly important.

A detached home in Burke Mountain should not simply be valued according to the Metro Vancouver detached benchmark.

The same applies to a condo near Coquitlam Centre, a townhouse on Burke Mountain or a detached home in Central Coquitlam.

The most relevant evidence is recent comparable activity involving properties that buyers would realistically consider alternatives to yours.

What Is Happening in Port Moody Real Estate?

Port Moody has its own mix of detached homes, townhouses and condominiums, and conditions can vary considerably between neighbourhoods and property types.

A condo in Suter Brook or Newport Village competes in a different market from a detached home in Heritage Woods, College Park or Glenayre.

That's why we look beyond regional averages when advising a Port Moody buyer or seller.

What Is Happening in Port Coquitlam Real Estate?

Port Coquitlam can offer buyers different housing options and price points from neighbouring Coquitlam and Port Moody.

But again, the appropriate comparison depends on the property.

Detached homes in Citadel, Mary Hill or Oxford Heights shouldn't be evaluated solely against a regional detached benchmark, just as a condo or townhouse needs its own relevant comparable sales.

What Is Happening in Burnaby North Real Estate?

Burnaby North contains several distinct real estate markets.

A newer Brentwood condominium, an older apartment near Lougheed, and a detached property in Capitol Hill or Government Road attract different buyers and should be analyzed separately.

For buyers, comparing these submarkets can uncover opportunities.

For sellers, understanding exactly which properties buyers are comparing against yours is critical.

What We're Seeing at Apex Real Estate Group

From what we're seeing on the ground, buyers are extremely price sensitive.

That's our professional observation from working in the current market rather than a statistic published by GVR.

When a well located, well presented home comes to market at a price buyers recognize as reasonable relative to recent comparable sales, it can still attract attention.

When the asking price is substantially above what the evidence appears to support, buyers have enough alternatives that they may simply move on.

That's why the question for sellers shouldn't simply be:

“What's the highest price we can list for?”

A better question is:

“At what price will today's buyers see value?”

Should You Price Your Home High and Reduce It Later?

Sometimes testing a higher price can make sense.

But sellers need to understand the tradeoff.

New listings receive immediate exposure to active buyers watching a neighbourhood and price range.

If those buyers decide a home is overpriced compared with the available alternatives, reducing the price later doesn't guarantee they will return.

Before establishing an asking price, we look closely at recent comparable sales, current competition, expired listings where relevant and how market conditions have changed since older comparables sold.

Is Fall 2026 a Good Time to Buy a Home?

For some buyers, current conditions may present opportunities.

Higher inventory means more properties to compare. Slower overall sales may also create negotiating opportunities in certain situations.

That doesn't mean every property is a bargain.

Desirable properties can still attract significant interest.

The advantage for buyers is having the ability to properly evaluate what they're purchasing.

Review the comparable sales.

Read the strata documents.

Investigate the building.

Complete appropriate due diligence.

Understand future expenses.

And determine whether the asking price is supported by today's market.

What Is the Bank of Canada Interest Rate in September 2026?

The Bank of Canada maintained its target overnight rate at 2.25 percent on September 2, 2026.

The Bank Rate remains 2.5 percent and the deposit rate is 2.20 percent.

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

The Bank of Canada does not directly set the mortgage rate a lender offers you.

Variable mortgage rates tend to respond more directly to changes in lenders' prime rates, which are influenced by the Bank's overnight rate. Fixed mortgage rates are influenced by lenders' funding costs and broader financial market conditions.

Should I Wait for Mortgage Rates to Fall Before Buying?

Nobody can know with certainty where mortgage rates and home prices will be six months from now.

Instead of trying to predict both, consider three questions:

Can I comfortably afford the property at today's numbers?

Does the property suit my expected needs for the next several years?

Is the price supported by today's comparable sales?

If those answers make sense, you can evaluate the purchase based on information available today rather than making a major financial decision based on a forecast.

What Can I Buy in Coquitlam, Port Moody, Port Coquitlam or Burnaby North?

This is where regional averages become much less useful.

A $750,000 budget can produce very different options depending on where you look.

The same applies at $900,000, $1.2 million and $1.5 million.

Instead of starting with averages, we generally start with:

Budget. Location. Lifestyle.

Then we can show you what has actually sold and what's currently available within those parameters.

Want to Know What Your Budget Buys Right Now?

Tell us your approximate budget and the communities you're considering.

We'll help you understand what types of properties are realistically available in Coquitlam, Port Moody, Port Coquitlam and Burnaby North based on the current market.

How Do I Know What to Offer on a Home?

List price and market value aren't necessarily the same thing.

Before advising a buyer on an offer, we look at:

Recent comparable sales.

Current competing properties.

Previous listing history.

Days on market.

Property condition.

Location.

Strata documents where applicable.

Potential upcoming expenses.

And other factors that could materially affect value or future resale.

Already Found a Property?

Send us the address or MLS® number.

We can look at the recent comparable sales, listing history and current competition and help you understand how the asking price fits into today's market before you decide how to proceed.

Should I Sell My Home in Fall 2026 or Wait Until Spring 2027?

Waiting doesn't guarantee a higher selling price.

Market conditions, inventory, mortgage rates and competition can change.

An equally important question is:

What are you planning to do after you sell?

If you're leaving the real estate market entirely, the sale price may be your primary consideration.

If you're selling one property to purchase another, you should look at both sides of the transaction.

Is a Softer Market Good for Move Up Buyers?

It can be.

A homeowner selling a less expensive property and purchasing a more expensive property should consider the difference between the two prices.

Here's a hypothetical example.

Suppose your existing property is worth $1,000,000 and the home you'd like to purchase costs $1,600,000.

The difference is $600,000.

Now suppose market conditions change and your property is worth $950,000 while the larger property can be purchased for $1,480,000.

The difference becomes $530,000.

You received $50,000 less for your existing property, but the gap between the two properties decreased by $70,000.

This is purely an illustration, not a prediction of future prices. Different property types and neighbourhoods can move differently.

The important point is that a move up buyer should evaluate the entire transaction, not just the selling price of the home they currently own.

What Is My Home Worth in September 2026?

There is no Metro Vancouver statistic, online calculator or BC Assessment value that can determine exactly what an individual property would sell for today.

A proper market analysis should consider:

Recent comparable sales.

Current competing listings.

Expired and cancelled listings where relevant.

Changes in the market since older comparables sold.

Location and lot.

Condition and renovations.

Floor plan.

Views and exposure.

Parking and storage.

Suite potential.

Strata finances and condition where applicable.

Current buyer demand.

Want to Know What Your Home Could Sell For?

If you own a home in Coquitlam, Port Moody, Port Coquitlam or Burnaby North, we can prepare a current market analysis using recent comparable sales and today's competing inventory.

Even if you're six months or a year away from selling, knowing the numbers now can help you make a better plan.

September 2026 Real Estate Market: Frequently Asked Questions

Are Metro Vancouver home prices down from last year?

Yes. The Metro Vancouver composite benchmark price in August 2026 was $1,081,900, which was 5.6 percent lower than August 2025.

Is there more housing inventory available?

Yes. There were 15,798 active listings at the end of August 2026, 26.2 percent above the 10 year seasonal average.

Is it a buyer's market?

Conditions vary by property type, municipality, neighbourhood and price range. The overall Metro Vancouver sales to active listings ratio was 12.3 percent in August, but detached, attached and apartment properties had different ratios.

What is the Bank of Canada rate?

As of September 16, 2026, the Bank of Canada's target overnight rate is 2.25 percent.

When is the next Bank of Canada rate announcement?

The next scheduled announcement is October 28, 2026.

Should I wait until spring to sell?

Waiting doesn't guarantee a better selling price. The answer depends on your property, current competition, your reason for selling and what you intend to purchase next.

How do I find out what my Coquitlam home is worth?

Start with recent comparable sales involving properties similar to yours, then account for current competing inventory, condition, location, lot, renovations and current buyer demand. A current local market analysis will generally provide considerably more context than relying on an older assessment or broad regional average.

Thinking About Buying or Selling?

The September 2026 market isn't simply good or bad.

It's a market where the details matter.

Buyers have more inventory to consider.

Sellers need to pay close attention to pricing and competition.

Move up buyers need to consider the difference between what they're selling and what they're buying.

And every neighbourhood and property type can behave differently.

If you're considering buying, selling or making a move in Coquitlam, Port Moody, Port Coquitlam or Burnaby North, reach out to

As of 2026, first-time buyers in BC have more room than they did two years ago. You can access a 30-year amortization on an insured mortgage (up from 25), the insured-mortgage price cap has been raised to $1.5 million, and between the RRSP Home Buyers' Plan ($60,000 per person, tax-free) and the First Home Savings Account ($40,000 lifetime, also tax-free), a couple can put up to $200,000 of tax-sheltered savings toward a down payment. New-build buyers also gained a federal GST rebate worth up to $50,000 in March 2026. None of that changes the fundamentals below — but it does change the math, especially for condo and townhome buyers in this market.

Buying your first home is one of the biggest financial decisions you'll ever make. Whether you're searching for a condo near the SkyTrain, a family-friendly townhouse, or your first detached home, the process can feel overwhelming. The good news is that it doesn't have to be.

At Apex Real Estate Group, we've helped first-time buyers purchase homes throughout Coquitlam, Port Moody, Port Coquitlam, and Burnaby North. Every buyer's journey is different, but the process itself stays largely the same. This guide walks you through every step, explains what's new for 2026, covers the common mistakes to avoid, and shares local insight to help you buy with confidence.

Why So Many First-Time Buyers Choose the Tri-Cities and Burnaby North

These communities continue to attract first-time buyers because they offer an excellent balance of lifestyle, convenience, schools, parks, and long-term value. Whether you're commuting to downtown Vancouver, working locally, or raising a family, you'll find neighbourhoods that fit almost every budget.

Coquitlam offers a wide variety of housing, excellent schools, SkyTrain access, Lafarge Lake, Town Centre Park, Burke Mountain, and one of the fastest-growing city centres in Metro Vancouver. First-time buyers often begin their search in Burke Mountain, Westwood Plateau, Austin Heights, Maillardville, Central Coquitlam, and Ranch Park.

Port Moody, known as the "City of the Arts," combines waterfront living with incredible parks, breweries, Rocky Point Park, and excellent transit access. Popular neighbourhoods include Heritage Woods, Newport Village, Suter Brook, College Park, and Glenayre.

Port Coquitlam continues to offer exceptional value for buyers looking for more space while remaining close to Vancouver. Popular areas include Citadel Heights, Riverwood, Oxford Heights, Lincoln Park, Glenwood, and Mary Hill.

Burnaby North has become one of Metro Vancouver's most desirable locations thanks to Simon Fraser University, Brentwood Town Centre, excellent transit, and strong long-term appreciation. Neighbourhoods worth considering include Brentwood, Capitol Hill, The Heights, Montecito, Government Road, Sperling/Duthie, and Westridge.

What's New for First-Time Buyers in 2026

This is the part of the process that changes the most from year to year — and the part most first-time buyer guides get stale on fastest. Here's what's actually in effect right now.

The insured-mortgage price cap is $1.5 million. As of December 15, 2024, the ceiling for CMHC-insured mortgages rose from $1 million to $1.5 million for first-time buyers and new-construction purchases. That matters directly in this market: it means buyers here can now put down less than 20% on homes priced well above where that used to be possible. Note this higher cap applies to first-time buyers and new builds specifically — repeat buyers purchasing resale homes are still capped at $1 million for insured financing.

Down payment minimums are tiered. For an insured mortgage, the minimum down payment is 5% on the portion of the price up to $500,000, and 10% on the portion between $500,000 and $1.5 million. Above $1.5 million, CMHC insurance isn't available at all, and a minimum 20% down payment applies. As an illustration: on a $1,300,000 detached home, the minimum insured down payment works out to roughly $105,000 (5% of the first $500,000, plus 10% of the remaining $800,000) — about 8% of the purchase price, not 20%.

30-year amortizations are back for first-time buyers. Insured mortgages were capped at 25 years for most of the past decade. As of the same December 2024 reforms, first-time buyers can access a 30-year amortization on an eligible insured purchase (new or resale), and buyers of newly built homes can access it regardless of buyer status. It comes with a small premium surcharge, but it lowers the monthly payment — worth running past your mortgage broker either way.

The First-Time Home Buyers' GST/HST Rebate is brand new. This federal rebate received Royal Assent on March 12, 2026, and offers eligible first-time buyers of new-build homes up to $50,000 back. It's administered by the CRA rather than CMHC and applies only to new construction — presale condos and new-build townhomes in Burke Mountain, Coquitlam Centre, and similar areas could qualify.

The RRSP Home Buyers' Plan (HBP) limit is $60,000 per person. You can withdraw up to $60,000 tax-free from your RRSP toward a first home (a couple who both qualify can combine for $120,000), and repay it back into your RRSP over 15 years, starting in the second year after withdrawal. Miss a scheduled repayment and that year's amount simply gets added to your taxable income — it isn't a debt collector situation, but it does cost you the tax shelter.

The First Home Savings Account (FHSA) is worth opening early even if you're years away. Introduced in 2023, the FHSA lets you contribute up to $8,000 per year, to a $40,000 lifetime maximum. Contributions are tax-deductible like an RRSP, and — unlike the HBP — qualifying withdrawals are completely tax-free with no repayment required. The HBP and FHSA can be combined for the same home purchase, which is how a couple can realistically stack up to $200,000 in tax-advantaged savings toward a down payment.

The federal Home Buyers' Amount tax credit is a smaller but easy-to-miss benefit — a non-refundable credit worth up to roughly $1,500 that most first-time buyers can claim on the tax return for the year they buy.

What This Means for BC's Property Transfer Tax

Every home purchase in BC triggers the Property Transfer Tax (PTT), calculated as 1% on the first $200,000 and 2% on the remainder up to $2 million (with higher marginal rates above that). First-time buyers get real relief here, but it's worth knowing exactly where the lines fall:

• Full PTT exemption on a qualifying home with a fair market value up to $835,000.

• Partial exemption phasing out between $835,000 and $860,000, reaching zero above that.

• A separate program — the newly built home exemption — offers a full exemption up to $1,100,000 and a partial exemption up to $1,150,000 for qualifying new construction. You can't stack both programs on the same purchase; your notary or lawyer will apply whichever saves you more.

The practical read for this market: a condo or townhome purchase in the Tri-Cities or Burnaby North frequently falls under these thresholds and can qualify for a full or partial exemption — an immediate savings of up to roughly $17,200. A detached home purchase in Coquitlam, Port Moody, or Burnaby North, where benchmark detached prices are well above $1.1 million, generally will not qualify for either exemption. That gap is one more reason condo and townhome buyers often see this market differently than detached buyers do.

A necessary caveat: none of the above is financial, legal, or tax advice. Program rules, thresholds, and eligibility criteria change, and your specific situation (income, existing RRSP room, marital status, whether you've owned property before) affects what actually applies to you. Confirm current details with a mortgage broker, accountant, and your real estate lawyer or notary before you rely on any of these numbers.

Step 1: Know Your Budget

Before viewing homes, determine what monthly payment fits comfortably within your lifestyle. Don't simply buy what the bank approves. Consider:

• Mortgage payments

• Property taxes

• Home insurance

• Strata fees

• Utilities and maintenance

• Parking costs

• Emergency savings

Buying comfortably is far more important than buying at your maximum approval.

Step 2: Get Mortgage Pre-Approval

A mortgage pre-approval helps you understand your real budget, lock in a rate, strengthen your offer, and shop with confidence. Many sellers take pre-approved buyers more seriously — in a market where financing conditions matter to a seller's certainty, a solid pre-approval is a genuine negotiating asset. With current five-year fixed rates generally landing in the low-to-mid 4% range and the Bank of Canada's overnight rate holding steady through mid-2026, a pre-approval also locks in some predictability while you shop.

Step 3: Save Your Down Payment

Many buyers believe they need a 20% down payment. In reality, as outlined above, many first-time buyers purchase with far less — as little as 5% on the first $500,000 of an insured mortgage. A mortgage professional can walk through what's realistic given your purchase price, your RRSP and FHSA balances, and your overall financial picture.

Step 4: Understand Closing Costs

Don't forget to budget for:

• Legal or notary fees

• Home inspection

• Property Transfer Tax (net of any exemption you qualify for)

• Title insurance

• Utility connections and moving expenses

• Adjustments (property tax and strata fee prorations)

Planning ahead eliminates surprises at the closing table.

Step 5: Start Looking at Homes

Every property should be evaluated for more than just appearance. Think about:

• Commute time

• Future resale value

• School catchments

• Nearby parks

• Walkability and transit access

• Development happening nearby

• Future growth in the area

Paint colours can be changed. Location cannot.

Step 6: Make an Offer

Your REALTOR® will help determine an appropriate offer price, the right subject clauses, deposit amount, and completion dates, along with the negotiation strategy for that specific property. Every property requires a different approach — what works in a multiple-offer situation on a Burke Mountain townhome looks nothing like what works on a slower-moving Central Coquitlam detached listing.

Step 7: Complete Your Due Diligence

This usually includes a home inspection, final financing approval, reviewing strata documents (for condos and townhomes), the Property Disclosure Statement, and a title review. These steps protect you before your purchase becomes firm and legally binding.

Step 8: Remove Subjects

Once everything has been approved and reviewed to your satisfaction, you'll remove your subject conditions and move toward completion.

Step 9: Completion Day

Your lawyer or notary transfers ownership and registers the property in your name at the Land Title Office.

Step 10: Possession Day

You receive the keys. Congratulations — you're officially a homeowner.

Common First-Time Buyer Mistakes

Waiting for the "perfect" market. No one consistently predicts the market. Successful buyers focus on purchasing the right property for their long-term goals rather than trying to perfectly time interest rates or prices.

Buying based on emotion. Beautiful staging doesn't always equal good value. Look beyond cosmetic finishes to the bones of the home.

Ignoring monthly ownership costs. Mortgage payments are only one part of home ownership. Budget for the complete picture — strata fees, insurance, utilities, and maintenance all add up.

Skipping professional advice. The cheapest decision today can become the most expensive one later. This applies as much to skipping a proper mortgage broker consultation as it does to skipping the home inspection.

Leaving free money on the table. It's a genuinely common mistake in 2026 specifically: buyers who don't open an FHSA early enough to build meaningful room, or who don't realize a condo purchase might qualify for a full PTT exemption, or who assume they need 20% down and never explore the insured-mortgage path.

Frequently Asked Questions

Is Coquitlam a good place to buy your first home? Yes. Coquitlam offers excellent schools, extensive parks, SkyTrain access, shopping, recreation, and a wide range of housing options. It remains one of the most popular communities for first-time buyers in Metro Vancouver.

Is Port Moody worth the higher prices? Many buyers believe so. Port Moody offers waterfront living, excellent restaurants, Rocky Point Park, breweries, and convenient transit while maintaining a strong community atmosphere.

Is Port Coquitlam more affordable? In many cases, yes. Buyers often find larger homes or townhouses for less than comparable properties in neighbouring communities.

Is Burnaby North a good investment? Burnaby North continues to benefit from rapid redevelopment, excellent transit, Simon Fraser University, Brentwood Town Centre, and strong long-term buyer demand.

Should I buy now or wait? No one can predict exactly what the market will do next. The better question is whether buying now aligns with your financial goals, lifestyle, and long-term plans. Real estate should generally be viewed as a long-term investment rather than a short-term market prediction.

How much money can a first-time buyer actually access from government programs in 2026? Between the RRSP Home Buyers' Plan ($60,000 per person, tax-free) and the FHSA ($40,000 lifetime, tax-free), a couple could theoretically access up to $200,000 in tax-advantaged savings toward a down payment, plus BC's PTT exemption (up to roughly $17,200 in savings on a qualifying purchase) and, for new builds, the new federal GST rebate (up to $50,000). Few buyers will max out every program simultaneously, but stacking two or three of them is common and worth planning for early.

Do I need 20% down to buy in Coquitlam, Port Moody, or Port Coquitlam? Not necessarily. As a first-time buyer, you can use an insured mortgage on purchases up to $1.5 million with as little as 5% down on the first $500,000 and 10% on the remainder. Above $1.5 million, or without insurance, the minimum is 20%.

What's the difference between the FHSA and the RRSP Home Buyers' Plan? The FHSA is money you contribute specifically to save for a first home — contributions are tax-deductible and qualifying withdrawals are entirely tax-free, with no repayment required. The HBP lets you pull from RRSP savings you may have already built for retirement, but that amount has to be repaid back into your RRSP over 15 years. Most mortgage brokers suggest maximizing the FHSA first, since it never needs to be paid back, then using the HBP for any additional funds needed.

Why Work With Apex Real Estate Group?

Buying your first home should be exciting, not stressful. At Apex Real Estate Group, we guide buyers through every step of the process, from mortgage preparation and neighbourhood selection to negotiations, inspections, and possession day. Whether you're buying in Coquitlam, Port Moody, Port Coquitlam, or Burnaby North, our goal is simple: to help you make informed decisions, avoid costly mistakes, and purchase the right home with confidence.

If you're thinking about buying your first home, or simply want to understand your options, we'd be happy to answer your questions — no pressure, no obligation.

Colin Colpitts, PREC Apex Real Estate Group Royal LePage Sterling Realty

This guide reflects federal and BC program rules understood to be in effect as of July 2026, including the December 2024 CMHC reforms (the $1.5M insured cap and 30-year amortization), current FHSA and RRSP Home Buyers' Plan limits, BC's Property Transfer Tax first-time buyer and newly built home exemptions, and the federal GST/HST New Home Rebate that received Royal Assent in March 2026. Program thresholds and eligibility rules change and can vary by individual circumstance. This article is general information only, not financial, legal, or tax advice — confirm current details with a licensed mortgage broker, accountant, and your real estate lawyer or notary before making decisions based on the figures above.