Vancouver Housing Market Outlook 2026
Vancouver Market Report Summary 2026
- The average selling price of a home in Vancouver decreased by 3.9% year-over-year to $1,123,700 in November 2025.
- The average selling price of a single-family home in Vancouver decreased by 4.2% year-over-year to $1,905,300 in November 2025.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 4.4% year-over-year to $1,065,600 in November 2025.
- The average selling price of a condo in Vancouver decreased by 5.2% year-over-year to $714,300 in November 2025.
- The average rent in Vancouver is now $2,696 for November 2025.
- December 23, 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 $1,123,700 for the month of November 2025, that’s decreased by 0.3% compared to the previous month. On a year-over-year basis, Vancouver home prices have decreased 3.9% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,905,300 for the month of November 2025, that’s decreased by 0.5% compared to the previous month. On a year-over-year basis, single-family home prices in Vancouver have decreased by 4.2% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Vancouver was $1,065,600 for the month of November 2025, that’s increased by 0.1% compared to the previous month. On a year-over-year basis, the price of a townhouse in Vancouver has decreased by 4.4% over the last 12 months.
Condo Prices
The average selling price of a condo in Vancouver was $714,300 for the month of November 2025, that’s decreased by 0.2% compared to the previous month. On a year-over-year basis, the price of a condo in Vancouver has decreased 5.2% 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 November 2025 was $1,123,700, and it decreased of 3.9% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 50%, indicating Balanced market conditions in Vancouver for November 2025.
Vancouver Sees Soft Demand and Elevated Inventory
According to the Greater Vancouver Realtors (GVR), Metro Vancouver’s housing market continued to cool through November, with sales remaining well below historical norms and inventory elevated. A total of 1,846 homes sold during the month, down 15.4% YoY and more than 20% below the 10-year seasonal average, reflecting ongoing buyer caution amid economic uncertainty.
Vancouver Market Snapshot for November
- Residential home sales totalled 1,846, down 15.4% YoY
- New listings slipped 1.4% to 3,674, slightly above the 10-year average
- Active listings climbed to 15,149, up 14.4% from last year and 36.3% above the long-term norm
- Sales-to-active listings ratio sat at 12.6%, signalling mild downward pressure on prices
- MLS HPI composite benchmark price fell 3.9% YoY to $1,123,700
Home Prices Ease Across Most Property Types, Favouring Patient Buyers
Price softening remained broad-based. Detached home benchmark prices declined 4.3% YoY to $1,9 million, while condo/apartment prices fell 5.2% to $714,300. Townhouse prices were down 4.4% annually but edged slightly higher MoM, suggesting pockets of stability where supply is tighter.
With inventory levels high and properties taking longer to sell, sellers continue adjusting expectations after several years of tighter conditions. Buyer activity remains selective, with transactions occurring mainly where pricing aligns with current market realities rather than past peaks.
Month-over-Month Market Expectations for Vancouver
Transactions – Number of Sales
The number of sales in Vancouver was 1,846 during November 2025, that’s decreased by 18.1% compared to the previous month. On a year-over-year basis, sales in Vancouver have decreased by 15.4% over the last 12 months.
New Listings
The number of new listings in Vancouver was 3,674 during November 2025, that’s decreased by 32.4% compared to the previous month. On a year-over-year basis, new listings in Vancouver have decreased by 1.4% over the last 12 months.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Vancouver was 50% during November 2025, indicating a Balanced. On a monthly basis, that’s increased by 21.2% compared to the previous month. Vancouver’s yearly sales-to-new-listings ratio has decreased by 14.2% over the last 12 months.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% suggests a buyer’s market, where buyers have the upper hand and greater 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 $2,696 for the month of November 2025.
The average rent for a 1-bedroom apartment in Vancouver was $2,407 for the month of November 2025, which decreased by 5% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Vancouver was $3,284 for the month of November 2025, which decreased by 3.8% on a year-over-year basis.
How Does Renting Compare with Homeownership in Vancouver?
Each $100,000 in mortgage balance costs an average of $520.07 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 2.25%, and nesto’s prime rate is set to 4.45%.
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 in 2025?
A crash is unlikely in Vancouver. Despite affordability concerns, low inventory and high demand will sustain home prices.
How affordable will homes in Vancouver 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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