Vancouver Housing Market Outlook 2025
Vancouver Market Report Summary
- The average selling price of a home in Vancouver decreased by 3.4% year-over-year to $1,132,500 in October 2025.
- The average selling price of a single-family home in Vancouver decreased by 4% year-over-year to $1,920,800 in October 2025.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 3.8% year-over-year to $1,066,700 in October 2025.
- The average selling price of a condo in Vancouver decreased by 5.1% year-over-year to $718,900 in October 2025.
- The average rent in Vancouver decreased by 7.4% year-over-year to $2,728 for October 2025.
- November 27, 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 $1,132,500 for the month of October 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, Vancouver home prices have decreased 3.4% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,920,800 for the month of October 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, single-family home prices in Vancouver have decreased by 4% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Vancouver was $1,066,700 for the month of October 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 3.8% over the last 12 months.
Condo Prices
The average selling price of a condo in Vancouver was $718,900 for the month of October 2025, that’s decreased by 1.4% compared to the previous month. On a year-over-year basis, the price of a condo in Vancouver has decreased 5.1% 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 October 2025 was $1,132,500, and it decreased of 3.4% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 41%, indicating a Balanced in Vancouver for October 2025.
Vancouver Home Sales Fall 14% YoY as Inventory Climbs to Multi-Year Highs
According to the Greater Vancouver Realtors (GVR), Metro Vancouver’s housing market continued its slowdown in October as sales activity eased and inventory reached one of the highest levels seen in several years. The region recorded 2,255 residential sales, down 14.3% from October 2024 and 14.5% below the 10-year seasonal average. Typical fall momentum did not materialize this year, with overall demand cooling despite earlier rate cuts from the Bank of Canada.
Vancouver October 2025 Market Highlights
• 2,255 home sales, down 14.3% YoY
• 5,438 new listings, down 0.3% YoY
• 16,393 active listings, up 13.2% annually and 35.9% above the 10-year average
• Sales-to-active listings ratio (SNLR) at 14.2%
• Benchmark price at $1,132,500, down 3.4% YoY
• Detached benchmark at $1,916,400, down 4.3%
• Apartment benchmark at $718,900, down 5.1% YoY
• Townhouse benchmark at $1,066,700, down 3.8% YoY
Inventory Rise in Vancouver Pressuring Home Prices Across All Segments
The total number of properties listed for sale reached 16,393 in October, marking a 13.2% increase from last year and positioning Metro Vancouver well above its long-term norms. With sales slowing and supply expanding, conditions shifted further in favour of buyers. The region’s sales-to-active listings ratio (SNLR) of 14.2% remained below thresholds historically associated with price growth. As a result, benchmark prices eased across all major property types, reflecting a market adjusting to higher inventory and softer demand.
Market Segments Shift as Higher Inventory Softens Prices Across Property Types
Market conditions in Metro Vancouver continued to cool in October as detached, townhouse, and apartment segments all faced slower demand and rising supply. Detached homes recorded 693 sales, down 4.3% from last year, with the benchmark price easing to $1,916,400, a 4.3% annual decline and 0.9% drop from September. Apartments saw the sharpest pullback, with 1,071 sales, a 23.1% year-over-year decline, and a benchmark of $718,900, down 5.1% annually, as elevated supply gave buyers more room to compare options and negotiate pricing. Townhouses held somewhat steadier but still reflected cooler conditions, with 477 sales, down 4.8% from last October, and a benchmark of $1,066,700, a 3.8% annual decrease. Together, these shifts show a market adjusting to higher inventory and more cautious buyer behaviour across all property types.
What These Trends Mean for Vancouver Homebuyers and Homeowners
Buyers in Vancouver are entering one of the most favourable environments in several years, with higher inventory and softer prices creating room for negotiation and a wider selection of homes. Sellers face increased competition and should anticipate longer timelines, particularly in the detached and apartment segments. Homeowners looking to refinance may still find adequate equity depending on property type and location.
Month-over-Month Market Expectations for Vancouver
Transactions – Number of Sales
The number of sales in Vancouver was 2,255 during October 2025, that’s increased by 20.3% compared to the previous month. On a year-over-year basis, sales in Vancouver have decreased by 14.3% over the last 12 months.
New Listings
The number of new listings in Vancouver was 5,438 during October 2025, that’s decreased by 16.7% compared to the previous month. On a year-over-year basis, new listings in Vancouver have decreased by 0.3% over the last 12 months.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Vancouver was 41% during October 2025, indicating a Balanced. On a monthly basis, that’s increased by 44.4% compared to the previous month. Vancouver’s yearly sales-to-new-listings ratio has decreased by 14.1% 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 $2,728 for the month of October 2025, which decreased by 7.4% on a year-over-year basis.
The average rent for a bachelor apartment in Vancouver was $0 for the month of October 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Vancouver was $2,463 for the month of October 2025, which decreased by 6.1% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Vancouver was $3,354 for the month of October 2025, which decreased by 4.4% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Vancouver was $2,463 for the month of October 2025, which decreased by 4.4% on a year-over-year basis.
How Does Renting Compare with Homeownership in Vancouver?
Each $100,000 in mortgage balance costs an average of $509.35 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?
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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