Market Update

VANCOUVER HOUSING MARKET UPDATE | AUGUST 2025

2025-August-stats-graphic-market update. Source GVR

AUGUST 2025 MARKET UPDATE: Easing Home Prices Help Lift Sales in August

Source: GVR

Source: GVR

Easing prices brought more Metro Vancouver* homebuyers off the sidelines in August, with home sales on the MLS® up nearly three per cent from August last year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,959 in August 2025, a 2.9 per cent increase from the 1,904 sales recorded in August 2024. This was 19.2 per cent below the 10-year seasonal average (2,424).

“The August sales figures add further confirmation that sales activity across Metro Vancouver appears to be recovering, albeit somewhat slowly, from the challenging first half of the year. Sales in the detached and attached segments are up over ten per cent from last August, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way.”

Andrew Lis, GVR director of economics and data analytics

There were 4,225 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2025. This represents a 2.8 per cent increase compared to the 4,109 properties listed in August 2024. This was 1.3 per cent above the 10-year seasonal average (4,172).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,242, a 17.6 per cent increase compared to August 2024 (13,812). This is 36.9 per cent above the 10-year seasonal average (11,862).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for August 2025 is 12.4 per cent. By property type, the ratio is 9.3 per cent for detached homes, 15.8 per cent for attached, and 14 per cent for apartments.
Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Source: GVR

“Prices have eased around two per cent since the start of the year and are down about one per cent month over month in August, signalling that sellers have been willing to lower price expectations,” Lis said.
“As sellers’ and buyers’ expectations have become more aligned, transaction volume has picked up. Newly listed properties remain in line with their ten-year seasonal average however, which when paired with increasing sales activity, is likely to diminish the available inventory. This also means the window of plentiful opportunity for buyers may soon begin closing if these trends continue.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,150,400. This represents a 3.8 per cent decrease over August 2024 and a 1.3 per cent decrease compared to July 2025.
Sales of detached homes in August 2025 reached 575, a 13 per cent increase from the 509 detached sales recorded in August 2024. The benchmark price for a detached home is $1,950,300. This represents a 4.8 per cent decrease from August 2024 and a 1.2 per cent decrease compared to July 2025.
Sales of apartment homes reached 956 in August 2025, a 5.5 per cent decrease compared to the 1,012 sales in August 2024. The benchmark price of an apartment home is $734,400. This represents a 4.4 per cent decrease from August 2024 and a 1.3 per cent decrease compared to July 2025.
Attached home sales in August 2025 totalled 409, a 10.5 per cent increase compared to the 370 sales in August 2024. The benchmark price of a townhouse is $1,079,600. This represents a 3.5 per cent decrease from August 2024 and a 1.8 per cent decrease compared to July 2025.

* Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Greater Vancouver REALTORS® is an association representing more than 15,000 REALTORS® and their companies. The association provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.gvrealtors.ca.


Vancouver BC – September 3, 2025

CLICK HERE – Full GVR August 2025 Housing Market Update

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August 2025 Pre-Sale Market: A Quiet Summer and Foggy Fall Ahead

pre-sale market. Source Canva

A Summer Pre-Sale Market That Never Really Heated Up

Source: MLA Canada

This summer has been unusually quiet in the pre-sale real estate market across Greater Vancouver and the Fraser Valley. July brought eight new project launches, right in line with seasonal averages, but the number of homes released fell well short. Just 572 pre-sale units hit the market, a full one-third below the typical July pace of 857 units.

Source: MLA Canada

Why the shortfall? Most of the projects were smaller-scale: wood-frame buildings or limited townhome releases. Only one of the eight launches was a concrete project. Developers have clearly been leaning toward more affordable, family-oriented products, with six of the projects landing in the Fraser Valley.
Sales absorption told the other half of the story. At 13%, July’s sold rate was less than half the five-year seasonal average of 29%. While that’s slightly better than the very soft spring months, it still shows that demand is selective, with only a handful of projects moving 25 to 30 homes in a month, a pace we used to see more often back in 2023 and early 2024.

Interest Rates, Tariffs, and Market Sentiment
At the end of July, the Bank of Canada held its policy rate steady at 2.75% for the third time in a row. It was meant to bring stability, but for many buyers, the relief feels minimal. Consumer confidence has ticked up slightly thanks to a resilient service sector and a stronger job market, yet big-picture concerns remain.

Trade tensions continue to weigh on sentiment. The U.S. raised tariffs on Canadian goods to 35% in July, up from 25%. While the CUSMA agreement still shields most exports, smaller businesses that rely on imported parts may feel the squeeze. The bigger question looms in June 2026, when CUSMA comes up for review, if it falters, the Bank of Canada warns tariffs could drag Canada’s GDP down by more than 1% by 2027.

Fall Outlook: Developers Waiting It Out
Looking ahead, the outlook for August is stark: zero new project launches are expected. That’s unusual, even in slow years, the region typically sees seven or more launches and 800+ units in August. Developers appear to be pressing pause, holding their inventory for September or later in the fall, when buyers are back from summer breaks and ready to refocus on housing decisions.

Meanwhile, the resale market hasn’t picked up the slack. Greater Vancouver sales edged up slightly in July, but Fraser Valley stayed flat. Both are still well below their 10-year averages, while inventory remains high: 40% above seasonal norms in Vancouver and 50% higher in the Valley. Prices dipped modestly from June.

What It All Means for Buyers and Sellers
In short, it’s a waiting game. Buyers are hesitant, developers are cautious, and sellers are navigating a crowded resale market. If change is coming, it’s likely to show up this fall when new projects finally launch and market attention shifts back from summer vacations.

For now, patience is the theme.

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