Vancouver Townhome & Duplex Market Update: September 2026

In September, 12.2% of the townhomes and duplexes listed for sale in Metro Vancouver found a buyer. In August the figure was 15.1%. That fall of 2.9 points in one month leaves the attached-home market 0.2 points above the 12% line that Greater Vancouver Realtors connects with falling prices.

Sales held steady against last year. 358 townhomes and duplexes sold, two more than in September 2025, which makes September the second month in a row with more attached sales than a year earlier. Sellers also listed 1,325 attached homes during the month, up from 844 in August, so the number of homes for sale grew while sales fell from August's 412.

This update covers townhomes, duplexes and multiplex homes only, the category GVR calls attached. We leave condos and detached houses out of it. This month we also count the new homes for sale in Vancouver and Burnaby, from our own copy of the MLS® listings on October 8, 2026. You can compare with last month's update.

The September 2026 numbers at a glance

• Typical townhome price (the MLS® Home Price Index benchmark for townhouses): $1,016,700, down 4.7% from September 2025 and down 1.2% from August 2026.
• Townhome and duplex sales: 358 in September 2026, up 0.6% from the 356 sales in September 2025.
• Sales-to-active-listings ratio for townhomes and duplexes: 12.2%, down from 15.1% in August.
• Newly listed townhomes and duplexes: 1,325 in September 2026, against 1,335 in September 2025 and 844 in August 2026.
• New townhomes, duplex homes and multiplex homes for sale in Vancouver and Burnaby on October 8, 2026: 637, from our own MLS® count.

The first four lines come from Greater Vancouver Realtors' September 2026 MLS® Residential Market Report, released October 2, 2026. GVR's own footnote says its townhouse price index leaves duplexes out, even though the attached sales count includes them. The fifth line is our own count, explained below.

What the benchmark means for a townhome buyer

The benchmark for a typical Metro Vancouver townhome fell 1.2% in September, to $1,016,700. That is $12,100 less than August's $1,028,800, and a larger monthly drop than August's 0.2%.

The benchmark is GVR's estimate of what a typical townhome is worth across the region. It leaves out the largest and the most worn homes, so each month can be compared with the next on equal terms.

Over twelve months the benchmark is down 4.7%, compared with a 4.4% annual decline in August. Over five years it is up 6.0%, down from the 8.9% five-year gain we reported for August.

Where you look matters more than the regional figure. Outside the resort town of Whistler, the townhouse benchmark in September ran from $700,800 in Maple Ridge to $1,298,500 in Vancouver West. Vancouver East sat at $980,400, Burnaby North at $880,400, Burnaby South at $942,100 and Richmond at $1,025,000.

The townhouse benchmark rose from August in 6 of GVR's 18 areas and fell in 12. The risers included Burnaby South by 0.9%, Burnaby East by 0.6% and Richmond by 0.3%. Vancouver West fell 2.7% in the month and Vancouver East fell 0.5%.

Our read: a 1.2% drop in one month gives buyers more room to negotiate than August did. In Vancouver West, where the benchmark fell 2.7% in September alone, a home priced in the spring may now ask more than the index supports. Ask the seller's agent how the price was set.

Townhome and duplex sales rose for a second month

358 attached homes sold in September 2026, up 0.6% from 356 in September 2025. August was up 0.7% on the year, so attached sales have now been higher than the year before for two months in a row.

GVR's chief economist, Andrew Lis, said in the release that "sales of attached and detached homes finished slightly up from last September." He linked this to people buying homes to live in, while investors wait for better conditions. Across all property types, sales fell 8.4% from September 2025, and GVR said the drop came from the apartment market.

By area, Vancouver East led with 57 attached sales, up from 53 in August and 51 in September 2025. Richmond followed with 48, Vancouver West with 45, Burnaby with 36 and Coquitlam with 33.

Through the first nine months of 2026, 3,726 attached homes sold, against 3,760 in the same months of 2025. That is a gap of 0.9%.

Last month we wrote that a second month of year-over-year gains would start to look like a pattern. September gave us that second month, by two homes. We call that steady demand.

Buyer's or seller's market for townhomes and duplexes?

Townhomes and duplexes are now at the edge between a balanced market and a buyer's market. The attached sales-to-active-listings ratio was 12.2% in September, down from 15.1% in August.

The ratio is the share of homes for sale that found a buyer during the month. GVR's guidance is that prices tend to face downward pressure when it stays below 12% for a sustained period, and upward pressure when it stays above 20% over several months. September is one month, so we will watch whether October and November are also near or below 12%.

The ratio for all property types together was 10.9%, so townhomes and duplexes still sold at a faster pace than the market as a whole.

For you, this means time to think, room to keep your inspection and financing conditions, and a fair case for offering below asking on a home listed for several weeks.

How much choice you have

Choice grew in September. Sellers listed 1,325 attached homes during the month, 481 more than in August, while attached sales fell by 54. Compared with September 2025, new attached listings were down by 10 homes, or 0.7%. Our view: this is a good season to tour several homes and compare them before deciding.

New homes for sale in Vancouver and Burnaby: our MLS® count

On October 8, 2026, 637 newly built townhomes, duplex homes and multiplex homes were listed for sale on the MLS® system in Vancouver and Burnaby: 507 in Vancouver and 130 in Burnaby. The middle asking price was $1,698,000 in Vancouver and $1,648,000 in Burnaby.

How we counted: these figures come from MultiLiving's own copy of MLS® listings, refreshed on October 8, 2026. We counted active listings built in 2025 or later and filed as a townhouse, a half duplex (one side of a duplex), a row house, or a strata-owned home on a multiplex lot. The middle asking price is the median: half of the homes ask more, and half ask less. Asking prices are what sellers want, and the final price can differ.

By area:

• Vancouver East: 270 homes for sale, a middle asking price of $1,498,000, and 145 homes asking under $1,500,000.
• Vancouver West: 236 homes for sale, a middle asking price of $1,999,000, and 41 homes asking under $1,500,000.
• Burnaby: 130 homes for sale, a middle asking price of $1,648,000, and 44 homes asking under $1,500,000.

One Vancouver listing sits in a third MLS® area, so the two Vancouver areas add up to 506 of 507.

By type of home:

• One side of a duplex: 316 for sale in Vancouver, with a middle asking price of $1,798,000, and 83 in Burnaby at $1,799,000.
• Townhouses: 183 in Vancouver at $1,495,141, and 35 in Burnaby at $1,369,900.
• Homes in a building of four: 75 in Vancouver at $1,649,000, and 24 in Burnaby at $1,539,900.
• Homes in a building of three: 26 in Vancouver at $1,575,000, and 8 in Burnaby at $1,499,900.

The last two lines overlap with the first two, because a home in a three or four home building is still filed as a townhouse or a half duplex. Of the 637 homes, 576 have three or more bedrooms.

These asking prices sit above GVR's townhouse benchmarks for the same areas: $980,400 in Vancouver East, $1,298,500 in Vancouver West and $880,400 in Burnaby North. The gap has a plain cause. The benchmark describes a typical townhome of any age and leaves duplexes out. Our count covers homes built in 2025 or later, and 399 of the 637 are one side of a duplex. Compare a new listing with other new listings, and use the benchmark to judge which way the market is moving.

GVR publishes no benchmark for multiplex homes, which is why we count our own listings and give the date of every count.

Our read: Vancouver East is where the choice is. It holds 270 of the 637 listings, and more than half of them ask under $1,500,000. You can see what is listed now on our pages for duplexes for sale in Vancouver and townhomes for sale in Burnaby.

The rate backdrop

The Bank of Canada's policy interest rate is 2.25%. The Bank held it there on September 2, 2026, its sixth hold at that level this year. The next scheduled announcement is October 28, 2026, followed by December 9.

A steady rate keeps your pre-approval useful and your payment estimate stable. If you plan to buy before the end of the year, ask your lender to refresh your pre-approval before October 28. We covered what the September rate hold means for multiplex buyers, and our cost of owning guide covers the monthly costs that come on top of the mortgage.

If you're buying this month

• Ask how long the home has been listed and what it first asked. With the townhouse benchmark down 1.2% in September, a price set in the spring may be out of date.
• Compare areas before you compare homes. The townhouse benchmark gap between Maple Ridge at $700,800 and Vancouver West at $1,298,500 is $597,700, more than any discount you are likely to negotiate on one home.
• Keep your conditions. At a 12.2% ratio, sellers compete with many other listings, and asking for an inspection and a financing condition is reasonable.
• If your budget stops at $1,500,000, start in Vancouver East, where 145 new homes asked less than that on October 8.
• Refresh your pre-approval before October 28.
• Browse our current properties and tell us which floor plans fit your family.

If you're waiting

The case for waiting: the townhouse benchmark has fallen 4.7% in a year and 1.2% in September alone, the attached ratio is 0.2 points from the line GVR links with falling prices, and Metro Vancouver had 16,394 homes of all types for sale at the end of September, 24.3% above the ten-year average for the month.

The case against: attached sales were higher than the year before for the second month in a row, new attached listings came in below the same month of 2025 in both August and September, and the Bank of Canada has kept its rate at 2.25% at every decision this year.

Our read: a falling index helps the buyer who is ready, because it gives room to negotiate on the home you want today. Waiting for a lower index means choosing from whatever is listed later. If the payment works now and the home fits your family, we would make the offer.

What we're watching next month

• The Bank of Canada's October 28 decision.
• Whether the attached sales-to-active ratio drops below 12% in October. GVR's test needs a sustained period below that line.
• October attached sales against October 2025. A third month above the year before would be worth reporting.
• Our count of new homes for sale in Vancouver and Burnaby, against 637 on October 8.

What this comes down to

• The benchmark for a typical Metro Vancouver townhome was $1,016,700 in September 2026, down 4.7% from a year earlier and down 1.2% from August.
• 358 townhomes and duplexes sold, up 0.6% from 356 in September 2025, the second month in a row with a year-over-year gain.
• The attached sales-to-active ratio fell to 12.2% from 15.1%, 0.2 points above the 12% line GVR links to falling prices.
• Sellers listed 1,325 attached homes, up from 844 in August and 10 fewer than in September 2025.
• On October 8, 2026, 637 new townhomes, duplex homes and multiplex homes were for sale in Vancouver and Burnaby, with middle asking prices of $1,698,000 in Vancouver and $1,648,000 in Burnaby.
• The Bank of Canada's rate is 2.25%. The next decision is October 28, 2026.
• Our read: more room to negotiate than in August, while sales hold steady.

Frequently asked questions

What was the typical townhome price in Metro Vancouver in September 2026?

The typical Metro Vancouver townhome was valued at $1,016,700 in September 2026. That is the MLS® Home Price Index benchmark for townhouses, published by Greater Vancouver Realtors on October 2, 2026. It fell 4.7% over the year and 1.2% from August's $1,028,800. GVR's townhouse index leaves duplexes out.

Did townhome and duplex sales go up or down in September 2026?

They went up compared with last year. Greater Vancouver Realtors recorded 358 attached sales in September 2026, two more than the 356 sold in September 2025, a gain of 0.6%. August was also up on the year. Compared with August's 412 sales, September's count was lower by 54.

Is it a buyer's or seller's market for townhomes and duplexes right now?

Townhomes and duplexes sit at the edge of a buyer's market. The attached sales-to-active-listings ratio was 12.2% in September 2026. Greater Vancouver Realtors links a ratio held below 12% for a sustained period to downward price pressure, and one held above 20% to upward pressure. Several months below 12% would favour buyers.

Why did the sales-to-active ratio drop in September?

Fewer homes sold while more came up for sale. Attached sales fell from 412 in August to 358 in September, and sellers listed 1,325 attached homes in September, up from 844 in August. Fewer sales spread across more homes for sale brings the ratio down, and it fell from 15.1% to 12.2%.

How many new townhomes and duplexes are for sale in Vancouver and Burnaby?

On October 8, 2026, our copy of MLS® listings showed 637 townhomes, duplex homes and multiplex homes built in 2025 or later for sale in Vancouver and Burnaby. Vancouver had 507 and Burnaby had 130. Vancouver East alone had 270, and 145 of those asked under $1,500,000.

What do new duplex homes ask in Vancouver and Burnaby?

One side of a new duplex had a middle asking price of $1,798,000 in Vancouver and $1,799,000 in Burnaby on October 8, 2026, based on our copy of MLS® listings. Vancouver had 316 for sale and Burnaby had 83. Asking prices are what sellers want, and final prices can differ.

Why do new homes ask more than the GVR townhouse benchmark?

The benchmark describes a typical townhome of any age across Metro Vancouver, and it leaves duplexes out. Our count covers only homes built in 2025 or later, and 399 of the 637 are one side of a duplex, 394 of them with three or more bedrooms. Newer and larger homes ask more than a typical older townhome.

Does Greater Vancouver Realtors publish a multiplex price?

Greater Vancouver Realtors publishes MLS® Home Price Index benchmarks for detached homes, townhouses and apartments, plus a composite of all three. It publishes no multiplex benchmark. That is why we count new multiplex listings from our own copy of the MLS® data and give the date of each count.

Did townhome prices fall in every area in September?

The townhouse benchmark fell in 12 of GVR's 18 areas and rose in 6. Compared with August, the townhouse benchmark rose 0.9% in Burnaby South, 0.6% in Burnaby East and 0.3% in Richmond. It fell 2.7% in Vancouver West, 0.9% in Burnaby North and 0.5% in Vancouver East. Check the figure for the area you are shopping in.

What is the Bank of Canada's interest rate, and when is the next decision?

The Bank of Canada's policy interest rate is 2.25%. The Bank held it there on September 2, 2026, and it has stayed at 2.25% at every decision this year. The next scheduled announcement is October 28, 2026, and the one after that is December 9. Refresh your pre-approval before October 28.

Should I buy a townhome or duplex now, or wait?

That depends on your own timing more than the market's. The townhouse benchmark fell 1.2% in September and the attached ratio is near 12%, which gives buyers room to negotiate now. Attached sales were also higher than last year for two months in a row. If the payment works and the home fits your family, we would make an offer.

Can I offer below the asking price on a new townhome or duplex this fall?

In our view, yes, on many homes. With the attached ratio at 12.2% and new attached listings up from 844 in August to 1,325 in September, sellers compete with many other listings. An offer under asking, supported by the asking prices of similar homes nearby, is reasonable on a home listed for several weeks.

Sources

• Greater Vancouver Realtors, September 2026 MLS® Residential Market Report (news release, published October 2, 2026)
• Greater Vancouver Realtors, September 2026 statistics package (MLS® Home Price Index tables, Sales Facts and Listings Facts by area, read October 8, 2026)
• Bank of Canada, interest rate announcement, September 2, 2026 (read October 8, 2026)
• Bank of Canada, policy interest rate and announcement schedule (read October 8, 2026)
• MultiLiving's copy of MLS® listings: active townhouse, half duplex, row house and strata-owned multiplex listings built in 2025 or later in Vancouver and Burnaby, counted October 8, 2026

Talk to us

Numbers show which way the market is moving. Whether the basement suite works for your parents, or the walk to school feels safe, is something you learn by visiting the home. If you are weighing a townhome, a duplex or a home in a new multiplex this fall, tell us what your family needs and we will tell you what September's market lets you get. Start with our current properties, or get in touch and we will do the searching with you.