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Vancouver Market Report Summary

• The average selling price of a home in Vancouver decreased by 3.8% year-over-year to $1,150,400 in August 2025.
• The average selling price of a single-family home in Vancouver decreased by 4.6% year-over-year to $1,951,400 in August 2025.
• The average selling price of a townhouse/multiplex in Vancouver decreased by 3.5% year-over-year to $1,079,600 in August 2025.
• The average selling price of a condo in Vancouver decreased by 4.4% year-over-year to $734,400 in August 2025.
• The average rent in Vancouver decreased by 10% year-over-year to $2,820 for August 2025.
• October 8, 2025: Today’s lowest mortgage rate in Vancouver is for a 5-year fixed.

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Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Vancouver Housing Market Summary

Data from the Greater Vancouver Realtors (GVR) indicates that the average price of resale residential homes sold across Vancouver in August 2025 was $1,150,400, and it decreased of 3.8% compared to a year ago.

GVR also reported a sales-to-new-listings ratio (SNLR) of 46%, indicating a Balanced in Vancouver for August 2025.

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Vancouver Home Sales Up as Prices Drop

According to the Greater Vancouver Realtors (GVR) for August 2025, home sales across Metro Vancouver reached 1,959 units, a 2.9% increase from 1,904 in August 2024. While activity picked up, home sales remained 19.2% below the 10-year seasonal average of 2,424 transactions.

The MLS Home Price Index (HPI) composite benchmark price across Metro Vancouver declined to $1,150,400 in August, down 3.8% from August 2024 and 1.3% from July 2025. Detached homes carried a benchmark of $1,950,300, down 4.8% annually. Apartments averaged $734,400, down 4.4%, while attached townhomes stood at $1,079,600, down 3.5%.

• Residential sales: 1,959, up 2.9% annually, but nearly 20% below the decade average
• Benchmark price: $1,150,400, down 3.8% YoY
• Detached sales were 575, up 13% annually, with a price $1,950,300, down 4.8%
• Attached sales were 409, up 10.5% annually, with a price $1,079,600, down 3.5%
• Apartment sales were 956, down 5.5% annually, with a price $734,400, down 4.4%

Buyers Re-Enter Market As Prices Ease 

GVR reported that prices across Metro Vancouver have eased about 2% since January, aligning buyer and seller expectations. Home sales of detached and attached homes were both up more than 10% YoY, showing buyers in higher price segments are returning. Apartment activity, however, declined as affordability constraints and high supply weighed on demand.

Industry observers note that end-users rather than investors are driving today’s Vancouver market. Realtors report stronger activity in family-friendly, central neighbourhoods such as Mount Pleasant and Fraser, where inventory remains tight. In contrast, smaller condos aimed at rental investors or high-end luxury units have slowed. First-time buyers, upsizers seeking more space, and downsizers entering retirement are now shaping much of the demand, supported by stabilized interest rates and government incentives for homes under $1.5 million.

Regulatory measures have discouraged speculative activity, particularly in the BC Home Flipping Tax introduced in January and the federal flipping tax from 2023. With foreign capital also retreating from the region, many investor-driven buyers have exited the market. This has reduced competition and contributed to the modest declines across detached, attached, and condo prices, while allowing end-users to regain leverage.

Inventory Rises 18% To Highest Level In More Than a Decade

Metro Vancouver’s active listings totalled 16,242 in August, up 17.6% YoY and nearly 37% above the 10-year average. With a sales-to-active listings ratio of 12.4%, 9.3% for detached homes, 15.8% for attached, and 14% for apartments, the market remains buyer-leaning. Sustained ratios below 12% would create stronger downward price pressure, though detached and townhouse activity is holding above that line.

RBC Economics noted that Vancouver resales rose by nearly 6% from July, marking the third consecutive monthly gain. Buyers sidelined earlier this year by US trade tensions and affordability issues are returning as more listings and easing prices improve options. Still, affordability remains one of the city’s biggest challenges, and RBC expects only a gradual stabilization in prices.

Build Canada Homes Program To Support Supply Expansion

Although Vancouver was not included in the first 6 cities announced for federal Build Canada Homes projects, the $13-billion program will accelerate supply in key urban centres nationwide. By lowering costs through modular and factory-built housing, the initiative is expected to improve affordability indirectly in Metro Vancouver, where elevated supply has already pushed inventory to multi-year highs.

Mortgage Impact for Buyers and Sellers in Vancouver

• Buyers are benefiting from increased supply and lower prices, particularly in the detached and townhouse markets where sales are rebounding.
• Sellers must adjust their expectations, as prices are down across all property types and there are nearly 20% fewer sales than the 10-year norm, making competitive pricing essential to attract offers.
• Mortgage holders may see relief if the Bank of Canada returns to monetary easing. Renewers and refinancers could gain flexibility from lower rates, while buyers may find affordability marginally improved despite high entry costs.

Vancouver’s housing market is slowly regaining momentum in activity while transitioning to a more end-user-driven environment. Elevated supply and easing prices are giving local buyers more leverage, setting the stage for a competitive fall season as multiple Bank of Canada rate decisions loom.

Month-over-Month Market Expectations for Vancouver

Transactions –  Number of Sales

New Listings

Real Estate Market

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

Vancouver Market Rents Summary

The average rent in Vancouver was $2,820 for the month of August 2025, which decreased by 10% on a year-over-year basis.

The average rent for a bachelor apartment in Vancouver was $0 for the month of August 2025, which 0 by 0% on a year-over-year basis.

The average rent for a 1-bedroom apartment in Vancouver was $2,515 for the month of August 2025, which decreased by 8% on a year-over-year basis.

The average rent for a 2-bedroom apartment in Vancouver was $3,489 for the month of August 2025, which decreased by 6% on a year-over-year basis.

The average rent for a 3-bedroom apartment in Vancouver was $2,515 for the month of August 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 $520.08 per month on nesto’s lowest fixed 5-year rate at and $527.84 per month on nesto’s lowest adjustable 5-year rate at . For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.71.

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 2.50%, and nesto’s prime rate is set to 4.70%.

Rental Price Changes by City

Rental Price Changes by Province

Rental Price Growth by Housing Type

Frequently Asked Questions on Vancouver Housing Market Outlook for 2025

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nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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