After years of skyrocketing prices and tight competition, the Vancouver housing market is continuing to cool as of August 2025. Buyer activity has slowed, listings are climbing, and prices are beginning to soften, especially in the detached and luxury segments.
While Vancouver still holds the title for some of the highest home prices in Canada, conditions are shifting toward a more balanced market, creating opportunities for buyers who’ve been on the sidelines.
📉 Vancouver Home Sales – July 2025 Data
According to the Real Estate Board of Greater Vancouver (REBGV), July 2025 saw 2,144 residential home sales, a 19.1% decline year-over-year and nearly 30% below the 10-year seasonal average.
| Property Type | YoY Sales Change |
|---|---|
| Detached | ↓ 22.8% |
| Townhomes | ↓ 12.2% |
| Condos | ↓ 18.5% |
➡️ Sales-to-active listings ratio: 13.2%
📦 Market balance: Slightly favoring buyers
🕒 Median days on market: 26
💰 Average sold-to-list ratio: ~97%
Takeaway: Homes are taking longer to sell, and buyers are negotiating prices more effectively than in recent years.
🏘️ Housing Inventory on the Rise
As of late July 2025, Metro Vancouver had 17,648 active listings, which is a 26.4% increase year-over-year, and the highest inventory level in over 10 years.
This surge in listings is giving buyers more breathing room and reducing the intense competition that defined the market from 2020–2023.
📉 Price pressure is building, particularly in areas with high concentrations of detached homes and luxury listings like the West Side, West Vancouver, and Richmond.
💸 Interest Rates & Affordability
The Bank of Canada held its key policy rate steady at 2.75% in July, as inflation remains sticky and the economic outlook uncertain.
Even with the rate pause, borrowing costs remain high, making affordability a challenge for many. However, buyers who can qualify are gaining leverage, especially in negotiation-heavy price brackets.
🛠️ Provincial Housing Reforms Shaping the Future
The BC government, under Premier David Eby, continues to push aggressive housing reforms to combat the affordability crisis:
✅ Single-family zoning eliminated in urban centers
✅ Density bonuses near SkyTrain and rapid transit areas
✅ Faster permitting for multi-family and infill developments
✅ Zoning for triplexes, fourplexes, and mid-rise housing types
These changes are beginning to affect how and where new supply is built, with a growing focus on “missing middle” housing.
🔮 Vancouver Real Estate Forecast – Summer & Fall 2025
As we head into late summer, market analysts expect the cooling trend to continue, especially in high-end and investor-driven segments.
What to Watch:
- ⬇️ Gradual price declines in detached and condo markets
- 🏘️ Increased listings in East Van, Burnaby, New West
- 💼 Investor hesitation due to softening rents and high holding costs
- 🏡 Good entry point for first-time buyers with stable incomes
“This is the calmest Vancouver market we’ve seen in years. It’s not crashing—it’s correcting.”
✅ Should You Buy or Wait?
If you’re a first-time buyer, move-up buyer, or long-term investor, this may be your window. Prices are no longer climbing rapidly, sellers are more flexible, and you have more time (and leverage) to make smart decisions.
Just be sure to get pre-approved, know your budget, and stay alert, especially in mid-range price points where demand is still steady.
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