Vancouver Housing Market Outlook 2025
Table of contents
Vancouver Market Report Summary
- The average selling price of a home in Vancouver decreased by 2.7% year-over-year to $1,165,300 in July 2025.
- The average selling price of a single-family home in Vancouver decreased by 3.4% year-over-year to $1,974,400 in July 2025.
- The average selling price of a townhouse/multiplex in Vancouver decreased by 2.3% year-over-year to $1,099,200 in July 2025.
- The average selling price of a condo in Vancouver decreased by 3.2% year-over-year to $743,700 in July 2025.
- The average rent in Vancouver decreased by 10% year-over-year to $2,803 for July 2025.
- August 16, 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 $1,165,300 for the month of July 2025, that’s decreased by 0.7% compared to the previous month. On a year-over-year basis, Vancouver home prices have decreased 2.7% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Vancouver was $1,974,400 for the month of July 2025, that’s decreased by 1% compared to the previous month. On a year-over-year basis, single-family home prices in Vancouver have decreased by 3.4% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Vancouver was $1,099,200 for the month of July 2025, that’s decreased by 0.4% compared to the previous month. On a year-over-year basis, the price of a townhouse in Vancouver has decreased by 2.3% over the last 12 months.
Condo Prices
The average selling price of a condo in Vancouver was $743,700 for the month of July 2025, that’s decreased by 0.6% 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 July 2025 was $1,165,300, and it decreased of 2.7% compared to a year ago.
GVR also reported a sales-to-new-listings ratio (SNLR) of 41%, indicating a Balanced in Vancouver for July 2025.
Vancouver Inventory Climbs 40% Above and Home Sales Hit 14% Below the 10-Year Average
According to the Greater Vancouver Realtors (GVR), Vancouver’s housing market extended its early summer recovery in July, with 2,286 sales recorded on the MLS. The month’s home sales were just 2% lower than July 2024 but 13.9% below the 10-year seasonal average of 2,656. New listings totalled 5,642, up 0.8% year-over-year and 12.4% above the seasonal average. Total active listings reached 17,168, up 19.8% from last year and 40.2% higher than the 10-year average, giving buyers more selection and keeping conditions balanced.
The sales-to-active listings ratio stood at 13.8% in July, with detached homes at 10.2%, attached homes at 16.7%, and apartments at 15.9%. Market history suggests downward pressure on prices when this ratio stays below 12% and upward pressure when it remains above 20% for several months.
- Home sales: 2,286 total sales, down 2% YoY
- New listings: 5,642, up 0.8% YoY
- Inventory: 17,168 active listings, up 19.8% YoY
- SLNR by Property Segments: 13.8% overall (detached 10.2%, attached 16.7%, apartments/condos 15.9%)
- Benchmark price: $1,165,300, down 0.7% MoM and 2.7% YoY
How Property Segments Performed in July
Detached home sales reached 660, down 4.1% year-over-year, with a benchmark price of $1,974,400, 1% lower than June and 3.6% below last year. Apartment sales totalled 1,158, down 2.9% year-over-year, with prices at $743,700, a 0.6% monthly decline and 3.2% annual drop. Attached home sales rose 5% to 459, with a benchmark price of $1,099,200, down 0.4% from June and 2.3% from last year.
Why Prices Are Likely to Stay Flat in the Short Term
Steady new listings and a stable inventory level of around 17,000 homes are keeping supply and demand balanced for now. While home sales are showing signs of recovery, conditions remain favourable for buyers. If sales momentum builds in the coming months without a matching rise in inventory, sellers could begin regaining negotiating power, which may shift prices upward.
How This Market Shift Affects Buyers, Sellers, and Mortgages in Vancouver
Buyers currently benefit from a healthy level of supply and more time to negotiate, especially in detached and apartment segments where sales are slower. Sellers in attached housing are seeing stronger demand but still face price sensitivity. Renewers can expect stable valuations in most areas, while homeowners looking to refinance may find lenders more open in more stable property segments. For the Bank of Canada, Vancouver’s balanced conditions and modest price declines add to evidence that rate policy is tempering demand, a factor that could influence future rate decisions.
Month-over-Month Market Expectations for Vancouver
Transactions – Number of Sales
The number of sales in Vancouver was 2,286 during July 2025, that’s increased by 4.8% compared to the previous month. On a year-over-year basis, sales in Vancouver have decreased by 2% over the last 12 months.
New Listings
The number of new listings in Vancouver was 5,642 during July 2025, that’s increased by 10.7% compared to the previous month. On a year-over-year basis, new listings in Vancouver have increased by 0.8% over the last 12 months.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Vancouver was 41% during July 2025, indicating a Balanced. On a monthly basis, that’s increased by 17.3% compared to the previous month. Vancouver’s yearly sales-to-new-listings ratio has decreased by 2.8% 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 $2,803 for the month of July 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 July 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Vancouver was $2,513 for the month of July 2025, which decreased by 9% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Vancouver was $3,488 for the month of July 2025, which decreased by 7% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Vancouver was $2,513 for the month of July 2025, which decreased by 7% on a year-over-year basis.
How Does Renting Compare with Homeownership in Vancouver?
Each $100,000 in mortgage balance costs an average of $528.19 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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