Market Dynamics Favoring Buyers
Increased Inventory and Slower Sales
In June 2025, Metro Vancouver saw 6,315 new listings, a 10.3% increase from the previous year, with total active listings rising 23.8% year-over-year to 17,561—nearly 44% above the 10-year seasonal average.
Properties are staying on the market longer. As of June 30, 2025, homes spent an average of 121 days on the market, up from 77 days at the same point in 2024. Additionally, 30% of listings were relisted at least once, compared to 26% the previous year.
Price Adjustments and Affordability
The average home price in Metro Vancouver was $1.17 million in July 2025, a 1.9% decrease year-over-year. Prices remain about 9% below the peak in 2022.
The Bank of Canada maintained its policy rate at 2.75% through the first half of 2025, contributing to more favorable borrowing conditions.
Segment-Specific Trends
The mid-luxury market ($1M–$2M) is experiencing renewed activity, with 547 units sold in June 2025, a 4% increase year-over-year. This segment is now driven more by life changes than speculation.
In contrast, the luxury market ($4M+) has seen a significant decline, with sales dropping 51% in the first half of 2025 compared to the same period in 2024.
Buyer Considerations
Negotiation Leverage: With increased inventory and longer listing times, buyers have more room to negotiate prices and terms.
Market Timing: The current market conditions may offer opportunities for buyers to secure properties at more favorable prices before potential market shifts.
Due Diligence: It’s essential for buyers to conduct thorough research and consider factors such as property condition, location, and long-term value.
Conclusion
Vancouver’s real estate market is transitioning into a buyer’s market, characterized by increased inventory, declining prices, and more favorable borrowing conditions. Buyers now have enhanced negotiating power and a broader selection of properties to choose from. However, it’s crucial to remain informed and consider all factors before making purchasing decisions