Market analysis

A single year looks dramatic, but the past decade tells a different story. Detached homes have corrected from their peak. Townhouses have been the strongest performer. Condos have essentially gone nowhere since 2020.

Leilani Fong PREC* | Port Moody, Coquitlam & Port Coquitlam | September 2026

Ten years of benchmark prices

Looking only at year-over-year numbers can make the market feel more dramatic than it really is. So this month, we stepped back and looked at something more useful: how September 2026 home prices compare with every September over the past 10 years.

Detached homes: below 2021, well above 2019

The September 2026 benchmark price for a detached home in Metro Vancouver is $1,784,700.

Compared with previous Septembers:

• 2.4% below 2021
• 6.4% below 2022
• About 12% below the 2023 to 2024 peak
• But still approximately 27% higher than September 2019
• And about 14% higher than September 2016

So while detached prices have pulled back substantially from their recent highs, they have not erased the gains of the past decade.

The interesting part is where today's market sits in the cycle. Someone looking only at the past three years sees falling prices. Someone comparing today with 2019 sees a very different market.

Townhouses have been the strongest performer

Townhouses stand out in the 10-year comparison.

The September 2026 benchmark is $1,016,700, which is:

• 5.5% higher than September 2021
• About 25% higher than September 2020
• More than 32% higher than September 2019
• More than 50% higher than September 2016

Townhouses have declined from their recent peak, but they have retained considerably more of their long-term appreciation than detached homes or condos.

That makes sense in a market where buyers still want space, but detached homes remain out of reach for many households.

Condos tell a very different story

The condo market is probably the most surprising part of the data.

The September 2026 benchmark apartment price is $682,500.

That is:

In other words, Metro Vancouver condo prices in September 2026 are roughly where they were six years ago.

That does not mean every condo has performed the same way. Location, age, building quality, strata finances, floor plan and neighbourhood all matter enormously.

But as a broad market trend, condos have experienced much less long-term price growth than many homeowners may assume.

The bigger picture

The last decade has not been a straight line upward.

Detached homes experienced major appreciation followed by a meaningful correction. Townhouses have shown the strongest long-term resilience. Condos have effectively given back several years of price growth.

The biggest takeaway is that the market you are buying or selling in depends heavily on property type.

September 2026 compared with previous Septembers

Percentage change from the September comparison year to September 2026. Source: Greater Vancouver REALTORS, MLS® HPI benchmark.

Townhouses have been the strongest long-term performer. Detached homes remain well above pre-pandemic levels despite the recent correction. And condo prices have essentially gone sideways over the past six years.

Data source: Greater Vancouver REALTORS, MLS® HPI benchmark, September 2016 through September 2026. These figures describe the Greater Vancouver market; property type performance varies significantly within neighbourhoods and by lot value. This article is general market information and not advice on any specific property. Leilani Fong PREC* is a licensed REALTOR with eXp Realty Canada.