Vancouver Housing Market Outlook 2025
Table of contents
Vancouver Market Report Summary
- The average selling price of a home in Vancouver decreased by 2.8% year-over-year to $1,173,100 in June 2025.
- The average selling price of a single-family home in Vancouver decreased by 3.1% year-over-year to $1,993,700 in June 2025.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 3% year-over-year to $1,103,900 in June 2025.
- The average selling price of a condo in Vancouver decreased by 3.2% year-over-year to $748,400 in June 2025.
- The average rent in Vancouver decreased by 7% year-over-year to $2,830 for June 2025.
- July 20, 2025: Today’s lowest mortgage rate in Vancouver is
for a 5-year fixed.
Composite Home Prices
The average selling price of a home in Vancouver was $1,173,100 for the month of June 2025, that’s decreased by 0.3% compared to the previous month. On a year-over-year basis, Vancouver home prices have decreased 2.8% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,993,700 for the month of June 2025, that’s decreased by 0.2% compared to the previous month. On a year-over-year basis, single-family home prices in Vancouver have decreased by 3.1% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Vancouver was $1,103,900 for the month of June 2025, that’s decreased by 0.3% compared to the previous month. On a year-over-year basis, the price of a townhouse in Vancouver has decreased by 3% over the last 12 months.
Condo Prices
The average selling price of a condo in Vancouver was $748,400 for the month of June 2025, that’s decreased by 1.2% compared to the previous month. On a year-over-year basis, the price of a condo in Vancouver has decreased 3.2% over the last 12 months.
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Vancouver Housing Market Summary
Data from the Greater Vancouver Realtors (GVR) indicates that the average price of resale residential homes sold across Vancouver in June 2025 was $1,173,100, and it decreased of 2.8% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 35%, indicating a Buyers in Vancouver for June 2025.
Vancouver Housing Inventory Builds as Prices Hold Steady
According to the Greater Vancouver Realtors(GVR), home sales across Metro Vancouver are beginning to stabilize after a turbulent start to the year. A total of 2,181 homes were sold in June 2025, down 9.8% from the same time last year. While still 25% below the 10-year average, this marks a notable improvement from May’s steeper decline.
- MLS HPI composite benchmark price: $1,173,100 (down 2.8 % year-over-year)
- Total sales: 2,181 units (down 9.8% from June 2024)
- New listings: 6,315 properties (up 10.3% year-over-year)
- Total active listings: 17,561 (up 23.8% year-over-year)
- Sales-to-active listings ratio (SNLR): 12.8% overall
Sales Activity Starting to Rebound
While home sales in Metro Vancouver were still lower than last June, the drop was half the size of May’s decline, pointing to a market that may be starting to turn the corner. Inventory, on the other hand, is growing faster than sales, giving buyers more selection across all property types.
The market remains balanced, although conditions are softer for detached homes, indicating an extreme buyers’ market, with a sales-to-active listings ratio (SNLR) of just under 10%. According to GVR’s director of economics, Andrew Lis, if momentum continues, year-over-year sales could soon turn positive, indicating that the demand rebound is underway.
Home Prices Remain Flat Across Metro Vancouver
Despite the added inventory, home prices have not shifted much. The composite benchmark price for all residential properties slipped 0.3% from May and remains 2.8% below the June 2024 level. Most of the decline is concentrated in the detached and apartment/condo segments, which have both experienced annual price drops of 3.2%. Attached townhomes have been the most stable, with a benchmark price of $1,103,900, down 3% year-over-year.
Detached Homes Facing Slower Demand
Detached home sales reached 657 units in June, down slightly from the year before. Benchmark pricing is now $1,994,500, representing a 3.2% decrease from last June. While home prices have held relatively steady month-over-month, the low sales ratio suggests continued price softness ahead. On average, detached homes spend 36 days on the market.
Townhomes Show Relative Resilience
Townhome sales rose 3.7% year-over-year, the only property type to post an annual gain in transactions. Despite that, prices eased to $1,103,900, a three percent dip from last year. Conditions are most balanced in this segment, with a sales-to-active listings ratio of nearly 17% and an average time on market of 29 days.
Apartment Market Still Under Pressure
Apartments saw the sharpest decline in sales volume, down 16.5% from last June. Inventory is growing, and sales activity remains well below seasonal norms. The benchmark price fell to $748,400, representing a 3.2% decline year-over-year and a 1.2% drop compared to May. The average unit now takes 35 days to sell.
Mortgage Strategy for Vancouver Borrowers
Vancouver’s housing market is sitting in one of its most balanced positions in years. Buyers now have more options, less competition, and relatively flat prices. That’s a shift from the highly competitive conditions of 2021 and 2022.
For homebuyers, this could be the most buyer-friendly stretch in recent memory, particularly for those targeting detached homes or condo/apartments. Mortgage renewers still face a higher interest rate environment, but with home prices holding steady or declining, there may be less risk of appraisal surprises. Refinancers should note that rising inventory and lower benchmark prices in certain areas may limit the home equity that can be accessed.
If this stabilizing trend in demand and softening prices continues, it will strengthen the case for the Bank of Canada to cut rates in the latter part of the year. That could increase affordability for a broader range of buyers, especially those currently on the sidelines.
Month-over-Month Market Expectations for Vancouver
Transactions – Number of Sales
The number of sales in Vancouver was 2,181 during June 2025, that’s decreased by 2.1% compared to the previous month. On a year-over-year basis, sales in Vancouver have decreased by 9.8% over the last 12 months.
New Listings
The number of new listings in Vancouver was 6,315 during June 2025, that’s decreased by 4.6% compared to the previous month. On a year-over-year basis, new listings in Vancouver have increased by 10.3% over the last 12 months.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Vancouver was 35% during June 2025, indicating a Buyers. On a monthly basis, that’s increased by 2.6% compared to the previous month. Vancouver’s yearly sales-to-new-listings ratio has decreased by 18.3% over the last 12 months.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in Vancouver
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Vancouver Market Rents Summary
The average rent in Vancouver was $2,830 for the month of June 2025, which decreased by 7% on a year-over-year basis.
The average rent for a bachelor apartment in Vancouver was $0 for the month of June 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Vancouver was $2,537 for the month of June 2025, which decreased by 8% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Vancouver was $3,469 for the month of June 2025, which decreased by 6% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Vancouver was $2,537 for the month of June 2025, which decreased by 6% on a year-over-year basis.
How Does Renting Compare with Homeownership in Vancouver?
Each $100,000 in mortgage balance costs an average of $522.77 per month on nesto’s lowest fixed 5-year rate at
Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.75%, and nesto’s prime rate is set to 4.95%.
Rental Price Changes by City
Rental Price Changes by Province
Rental Price Growth by Housing Type
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Frequently Asked Questions on Vancouver Housing Market Outlook for 2025
Will Vancouver’s housing prices increase in 2025?
Vancouver’s home prices are expected to rise slightly in 2025 as demand remains strong and housing supply struggles to keep pace.
Is Vancouver’s housing market going to crash?
A crash is unlikely in Vancouver. Despite affordability concerns, low inventory and high demand will sustain home prices.
How affordable will Vancouver homes be in 2025?
Vancouver remains Canada’s most expensive housing market. Buyers may consider condos or suburban areas in the GVA for better affordability.
What trends will drive Vancouver’s market in 2025?
Factors include low housing supply, increasing demand, and declining mortgage rates.
Should I buy a home in Vancouver in 2025?
If you’re financially prepared to become a homeowner, buying during periods of price stabilization in 2025 could offer long-term benefits.
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