The average residential sale price in the Vancouver housing market has decreased by 6.3 per cent year-over-year across detached property types between January 1 and July 31, 2025, from $2,651,000 to $2,483,000. The number of sales decreased by 20.9 per cent for the same time period from 2,784 to 2,201. The number of listings increased by 19 per cent (from 2,740 in 2024 to 3,261 in 2025). Average sales prices across all property types are expected to decline by about 10 per cent, reflecting buyers’ hesitancy, affordability pressures, and a need for sellers to adjust their pricing expectations. The number of sales is also projected to decline by three to five per cent.
Trends in the Vancouver Housing Market
Buyers in the Vancouver housing market feel anxious about the future. Sellers are not hopeful and expect this could last a while. Inventory is still high and the days on market, ranging from 74 to more than 300, longer than last year’s by nearly 20 per cent. Sales numbers are relatively lower in the city than other in other areas, likely due to higher price points.
Locals looking to downsize are driving sales in the region, a trend expected to continue throughout the year. The market’s biggest challenge is economic uncertainty.
The Vancouver housing market is experiencing a growing surplus of listings, as many sellers remain convinced their homes are worth as much as last year. In reality, prices have not only declined but continue to slide, leaving buyers increasingly on the hunt for bargain deals and fire-sale opportunities.
Consumer confidence is at a low point, leaving buyers hesitant and uncertain. Some believe prices could drop further after they purchase, could leave them feeling like they missed out. Some are adopting a wait-and-see approach in case interest rates continue to fall.
The region will need renewed investment. One possible measure could be the reintroduction of foreign ownership to help buy up some of the excess inventory. Efforts to cool the Vancouver housing market have led to domestic buyers participating at levels far below expectations.
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