The Metro Vancouver real estate market in 2025 made history for all the wrong reasons

by Gavin Lam

The Metro Vancouver real estate market in 2025 made history for all the wrong reasons: home sales hit their lowest annual total in over two decades, totaling just 23,800 residential transactions—a 10.4% drop from 2024.

Sellers flooded the market with a record number of listings since the mid-1990s, pushing total properties listed to 65,335 (up 8.2% from 2024). This created abundant inventory, with active listings at year-end sitting at 12,550—well above historical averages.

The result? A clear buyer’s market. Prices eased across the board, with the composite benchmark price for all residential properties landing at $1,114,800 (down 4.5% from December 2024). Detached homes benchmarked at $1,879,800 (down 5.3%), apartments at $710,000 (down 5.3%), and townhouses at $1,056,600 (down 5%).

December wrapped up the year quietly, with only 1,537 sales (down 12.9% from December 2024) and a sales-to-active listings ratio of 12.7%—signaling continued downward pressure on prices.

Interesting Tip for Buyers and Sellers in 2026

This buyer’s market offers real opportunities, especially as borrowing costs have fallen and consumer sentiment is slowly improving.

For buyers: Now is one of the best times in years to enter the market. With plentiful inventory, lower prices, and more negotiating power, you can secure a great deal—potentially locking in before any rebound in demand brings more competition. Don’t wait for the “perfect” bottom; focus on long-term value in growing areas.

For sellers: Be realistic and flexible. Set a competitive price from the start, avoid chasing the market down with repeated reductions, and offer incentives like flexible closing dates or buyer accommodations. Staging well and highlighting unique features can help your home stand out in a crowded field.

TL;DR Summary

2025: Lowest sales in 20+ years (23,800, down 10.4%), record-high listings (65,335), abundant inventory (12,550 active).
Prices down ~4-5% across types; benchmark ~$1.1M overall.
Buyer’s market with favorable conditions heading into 2026: lower prices, reduced borrowing costs, plenty of choices.
Tip: Buyers—act to grab deals; Sellers—price realistically and stay flexible.

Thinking about buying or selling in Metro Vancouver? I’d love to chat and help you navigate these shifting conditions—reach out anytime for a friendly, no-pressure discussion! Let’s find the right strategy for your goals.