Metro Vancouver records lowest home sales in more than 20 years in 2025 | Daily Hive

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The years-long real estate downturn in Metro Vancouver reached a new milestone in 2025, as the region recorded its lowest annual home sales total in more than 20 years.

According to Greater Vancouver Realtors (GVR), the annual number of home sales within its jurisdiction reached 23,800 in 2025 — representing a 10.4 per cent decrease from the 26,561 sales recorded in 2024 and a 9.3 per cent decrease from the 26,249 sales in 2023. Moreover, the total 2025 sales volume was about 25 per cent below the 10-year annual sales average.

Inversely, the number of properties listed in GVR’s jurisdiction was the highest since the mid-1990s, exceeding the previous record high in 2008 by just over 1,000 listings.

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There were 65,335 homes listed in GVR in 2025, which is an 8.2 per cent increase from 2024, a 28.4 per cent increase from 2023, and 13.1 per cent up from the region’s 10-year total annual average.

At the end of December 2025, there were 12,550 homes listed — up by nearly 15 per cent compared to December 2024, and approximately 35 per cent above the 10-year seasonal average.

“This year was one for the history books. Although the sales total was the lowest in over two decades, Realtors were still busy listing properties,” said Andrew Lis, the chief economist and vice-president of data analytics for GVR, in a statement today.

“The forecast we put out last January noted a foreseeable downside risk, which while prescient, unfortunately materialized in 2025. Specifically, we noted that trade tensions with the U.S.A. could negatively impact sales and prices, and this downside risk came to pass. The upshot, however, is that the negative impact of these trade tensions appears to be easing, and consumer sentiment has improved modestly over the second half of the year.”

The benchmark price for all residential properties within GVR’s jurisdiction currently stands at $1.115 million, down 4.5 per cent from December 2024 and 0.8 per cent from November 2025. By property type, the benchmark price is $1.88 million for a single-family detached home, $1.057 million for a townhouse, and $710,000 for a condominium.

On the Vancouver Westside, benchmark prices are significantly higher, with single-family homes at $3.137 million, townhouses at $1.413 million, and condominiums at $782,000. On the Vancouver Eastside, benchmark prices are lower by comparison, at $1.719 million for a single-family home, $1.035 million for a townhouse, and $650,000 for a condominium.

The jurisdiction of GVR, previously known as the Real Estate Board of Greater Vancouver (REBGV), includes not only Vancouver, Burnaby, Coquitlam, Port Coquitlam, Port Moody, New Westminster, North Vancouver, West Vancouver, Richmond, South Delta, Maple Ridge, Pitt Meadows, and Bowen Island, but also the Sunshine Coast, Squamish, and Whistler.

All other areas of Metro Vancouver are under the jurisdiction of the Fraser Valley Real Estate Board (FVREB), including Surrey, Langley, White Rock, and North Delta, as well as the Fraser Valley cities of Abbotsford and Mission.

“With sales down and inventory remaining plentiful, prices eased across all property types since the start of 2025. Sales and prices weren’t the only metrics that came down, borrowing costs fell nearly one full percentage point,” continued Lis.

“With lower prices, lower borrowing costs, and plenty of inventory to choose from, homebuyers in 2026 are starting the year with favourable conditions. Whether these conditions translate into a market with stronger demand will be the million-dollar question.”

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