Vancouver Housing Market Outlook 2025
Table of contents
Vancouver Market Report Summary
- The average selling price of a home in Vancouver decreased by 3.2% year-over-year to $1,142,100 in September 2025.
- The average selling price of a single-family home in Vancouver decreased by 4% year-over-year to $1,935,800 in September 2025.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 2.7% year-over-year to $1,069,800 in September 2025.
- The average selling price of a condo in Vancouver decreased by 4.4% year-over-year to $728,800 in September 2025.
- The average rent in Vancouver decreased by 8.2% year-over-year to $2,776 for September 2025.
- October 18, 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 $1,142,100 for the month of September 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, Vancouver home prices have decreased 3.2% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,935,800 for the month of September 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 $1,069,800 for the month of September 2025, that’s decreased by 0.9% compared to the previous month. On a year-over-year basis, the price of a townhouse in Vancouver has decreased by 2.7% over the last 12 months.
Condo Prices
The average selling price of a condo in Vancouver was $728,800 for the month of September 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, the price of a condo in Vancouver has decreased 4.4% 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 September 2025 was $1,142,100, and it decreased of 3.2% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 29%, indicating a Buyers in Vancouver for September 2025.
Vancouver Home Prices Ease as Active Listings Surge 36% Above 10-Year Average
The Greater Vancouver Realtors (GVR) reported that home sales across Metro Vancouver rose slightly in September 2025 as easing prices and the Bank of Canada’s latest rate cut improved buyer sentiment. There were 1,875 residential sales during the month, marking a 1.2% increase compared to September 2024, although they remain 20.1% below the 10-year seasonal average of 2,348.
Andrew Lis, GVR’s director of economics and data analytics, stated, “With another cut to Bank of Canada’s policy rate behind us, and markets pricing in at least one more cut by the end of the year, Metro Vancouver homebuyers have reason to be optimistic about the fall market. Easing prices, near-record high inventory levels, and increasingly favourable borrowing costs are offering those looking to purchase a home this fall with plenty of opportunity.”
Active Listings Reach Highest Levels in a Decade
A total of 6,527 homes were newly listed on the MLS in September, up 6.2% from last year and 20.1% higher than the 10-year seasonal average. Active listings climbed to 17,079, a 14.4% increase year over year and 36.1% above the 10-year norm.
The sales-to-active listings ratio settled at 11.3%, pointing to mild buyer’s market conditions. By property type, the ratio stood at 8.5% for detached homes, 12.7% for townhouses, and 13.3% for condos. Historically, ratios below 12% correspond to downward pressure on prices, while sustained ratios above 20% tend to support price appreciation.
Detached Home Prices Continue to Ease
Detached home sales totalled 552 in September, an increase of 7% compared to last year. The benchmark price for detached properties was $1,933,100, representing a decrease of 4.4% year over year and 0.9% compared to August. Detached prices have adjusted lower for several months as buyers continue to seek affordability amid high borrowing costs, but sales volume indicates stable underlying demand.
Apartment and Condo Prices Declined Slightly Amid Higher Supply
Apartments accounted for just over half of total sales activity in Metro Vancouver, with 954 units sold, marking a 1.5% increase year over year. The benchmark condo price reached $728,800, a decline of 4.4% compared to September 2024 and 0.8% compared to August. Rising inventory and softer investor participation have kept condo prices from rebounding, although affordability in this category continues to attract first-time homebuyers (FTHB).
Townhouse Market Moderated with Slight Price Softening
Townhouse sales reached 356 units in September, a 5.8% decrease year over year. The benchmark price for a townhouse was $1,069,800, down 2.7% compared to September 2024 and 0.9% compared to the previous month. An increase in available listings has provided more balance between buyers and sellers in this segment, particularly in suburban markets such as Burnaby and Langley.
Vancouver Market Summary by Property Type
The following overview provides a clear snapshot of how each property category performed in Metro Vancouver during September 2025.
- Detached Homes: Sales increased by 7% compared to last year, but the benchmark price fell by 4.4% to $1,933,100. Detached homes continue to experience modest price declines as supply expands, particularly in higher-end markets like Vancouver West.
- Townhouses: Sales decreased by 5.8% compared to September 2024, while the benchmark price slipped by 2.7% to $1,069,800. Market conditions remain balanced as more listings enter the market.
- Apartments and Condos: Sales rose by 1.5% year over year, with the benchmark price down 4.4% to $728,800. Price easing continues across most urban centres, although demand from first-time buyers remains steady.
- Composite Index (All Residential): The overall benchmark price for all property types in Metro Vancouver stood at $1,142,100, a decrease of 3.2% compared to last year and 0.7% compared to August.
Broader Market Conditions Across Metro Vancouver
Regional variations continue to shape housing trends across Metro Vancouver. North Vancouver, Burnaby, and Coquitlam reported modest price resilience, while Richmond and Vancouver West saw sharper annual declines. Inventory expansion across all submarkets continues to offer buyers greater choice heading into fall.
Lis added, “The past few years have been quite challenging for the market, beginning with 2022’s rapid increase in interest rates, major political and policy shifts in subsequent years, and recent trade tensions with the USA weighing on the market. With the acute impacts of these events now fading, we expect market activity to continue stabilizing to end the year, barring any unforeseeable major disruptions.”
Vancouver Real Estate Outlook for Late 2025
The Vancouver housing market is expected to stabilize as the Bank of Canada’s policy easing supports improved affordability and buyer confidence. Easing prices, ample inventory, and steady migration will likely sustain modest sales activity through the remainder of 2025.
For homebuyers, increased supply and lower prices create more room for negotiation, particularly in the condo and townhouse markets. It’s expected that the Bank will provide another rate cut before the end of 2025. In that case, affordability will likely improve further, supporting a gradual recovery in demand through early 2026 and helping stabilize home values across Metro Vancouver.
Month-over-Month Market Expectations for Vancouver
Transactions – Number of Sales
The number of sales in Vancouver was 1,875 during September 2025, that’s decreased by 4.3% compared to the previous month. On a year-over-year basis, sales in Vancouver have increased by 1.2% over the last 12 months.
New Listings
The number of new listings in Vancouver was 6,527 during September 2025, that’s increased by 54.5% compared to the previous month. On a year-over-year basis, new listings in Vancouver have increased by 6.2% over the last 12 months.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Vancouver was 29% during September 2025, indicating a Buyers. On a monthly basis, that’s decreased by 38% compared to the previous month. Vancouver’s yearly sales-to-new-listings ratio has decreased by 4.7% 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 $2,776 for the month of September 2025, which decreased by 8.2% on a year-over-year basis.
The average rent for a bachelor apartment in Vancouver was $0 for the month of September 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Vancouver was $2,501 for the month of September 2025, which decreased by 6.4% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Vancouver was $3,426 for the month of September 2025, which decreased by 3.8% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Vancouver was $2,501 for the month of September 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 2.50%, 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
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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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