Metro Vancouver Home Sales Hit 20-Year Low in 2025

Metro Vancouver’s housing market closed 2025 with the lowest annual home sales total in over two decades, according to Greater Vancouver REALTORS® (GVR).

A total of 23,800 homes sold in 2025, down 10.4% from 2024 and nearly 25% below the 10-year average. While sales slowed significantly, seller activity told a very different story.

Record Listings, Slower Demand

Despite weaker buyer demand, 2025 saw the highest number of listings since the mid-1990s, with 65,335 properties brought to market—an 8.2% increase year over year. Active listings finished the year at 12,550, nearly 35% above the seasonal average, giving buyers far more choice than in recent years.

Economic uncertainty, including trade tensions with the U.S., weighed on confidence earlier in the year. However, GVR notes that sentiment improved modestly in the second half of 2025 as those pressures began to ease.

Prices Softened Across All Property Types

With elevated inventory and slower sales, prices declined across the board:

• Overall benchmark price: $1,114,800
  (↓ 4.5% year over year)

• Detached homes: $1,879,800
  (↓ 5.3%)

• Townhomes: $1,056,600
  (↓ 5.0%)

• Apartments: $710,000
  (↓ 5.3%)

Lower borrowing costs—down nearly one full percentage point—also helped offset some affordability concerns.

December Snapshot: Balanced-to-Buyer Leaning Market

December sales were 20.7% below the 10-year average, while the overall sales-to-active listings ratio sat at 12.7%, indicating mild downward pressure on prices. Detached homes remained firmly in buyer’s-market territory, while attached homes and apartments hovered closer to balanced conditions.

Looking Ahead to 2026

With lower prices, reduced interest rates, and ample inventory, buyers are entering 2026 with some of the most favourable conditions seen in years. The key question remains whether improved affordability and confidence will translate into stronger demand.

What This Means for Buyers

2026 is starting with some of the most buyer-friendly conditions seen in years.

More choice: Inventory is well above long-term averages, giving buyers more options and less urgency.

Improved negotiating power: With sales-to-active listings hovering near buyer-market territory, buyers have more leverage on price, subjects, and completion terms.

Lower borrowing costs: Interest rates have come down nearly a full percentage point from their peak, improving affordability.

Less competition: Fewer multiple-offer situations compared to previous years means more time to make informed decisions.

Bottom line: Buyers who are financially prepared can be selective, negotiate confidently, and avoid the pressure that defined the market in recent years.

What This Means for Sellers

Selling in today’s market requires strategy, pricing discipline, and strong presentation.

Pricing matters more than ever: Overpricing is being punished quickly, while well-priced homes still attract attention.

Competition is higher: With more listings on the market, sellers are competing not just on price, but on condition, layout, and location.

Longer selling timelines: Homes may take longer to sell, especially if they are not aligned with current market expectations.

Serious buyers still exist: Properly prepared and well-marketed properties continue to sell, even in slower conditions.

Bottom line: Sellers who adapt to the market—rather than fight it—are the ones achieving successful results.

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