House sales edge up in Maple Ridge and Pitt Meadows in October

October was a better month for property sales in Maple Ridge and Pitt Meadows, with sales increasing across all property types. House sales rose 36 per cent, from 58 in September to 79 in October. Townhouse sales increased from 27 to 35, while apartment sales rose from 22 to 32.

From January to October, house sales totalled 651, compared with 657 over the same period last year. Attached-unit sales fell from 405 to 369, and apartment sales declined from 323 to 273.

Median prices also fell over that period: houses went from $1.25 million to $1.19, townhouses from $800,000 to $720,000, and apartments from $520,000 to $485,000. Across the Lower Mainland, the median prices were $1.58 million for single-family detached houses, $880,000 for townhouses and $624,000 for apartments.

Reports from Greater Vancouver Realtors (GVR) show 2,024 residential sales in the region in October 2026, down 10.2 per cent from 2,255 in October 2025 and 23 per cent below the 10-year seasonal average of 2,612.

GVR chief economist Andrew Lis said October brought buyers and sellers several suspenseful distractions, including a somewhat surprising Bank of Canada rate hike and a snap provincial election. Given the extensive coverage of provincial and municipal elections, and uncertainty about the direction of mortgage rates, he said it was not surprising that market participants stepped back in October to reassess.

Lis said another rate hike could come in December. One quarter-point increase has already occurred, and financial markets are pricing in a slight chance of another quarter-point increase in December. Some buyers may step in to use rate holds that are soon to expire, he said. Still, buyers who have watched prices edge down through the year face a difficult choice: higher borrowing costs have eroded some of the affordability gains from lower prices.