VANCOUVER, B.C.
– August 5, 2025 – Home sales registered on the MLS® across Metro Vancouver* in July extended the early signs of recovery that emerged in June, now down just two per cent from July of last year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,286 in July 2025, a two per cent decrease from the 2,333 sales recorded in July 2024. This
was 13.9 per cent below the 10-year seasonal average (2,656).
“The June data showed early signs of sales activity in the region turning a corner, and these
latest figures for July are confirming this emerging trend,” said Andrew Lis, GVR’s director of
economics and data analytics. “Although the Bank of Canada held the policy rate steady in
July, this decision could help bolster sales activity by providing more certainty surrounding
borrowing costs at a time where economic uncertainty lingers due to ongoing trade
negotiations with the USA.”
There were 5,642 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in July 2025. This represents a 0.8 per
cent increase compared to the 5,597 properties listed in July 2024. This was 12.4 per cent
above the 10-year seasonal average (5,018).
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 17,168, a 19.8 per cent increase compared to July 2024 (14,326). This is 40.2 per
cent above the 10-year seasonal average (12,249).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for July 2025 is 13.8 per cent. By property type, the ratio is 10.2 per cent for detached homes,
16.7 per cent for attached, and 15.9 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.
“With the rate of homes coming to market holding steady in July, the inventory of homes
available for sale on the MLS® has stabilized at around 17,000. This level of inventory provides
buyers plenty of selection to choose from,” Lis said. “Although sales activity is now recovering,
this healthy level of inventory is sufficient to keep home prices trending sideways over the
short term as supply and demand remain relatively balanced. However, if the recovery in
sales activity accelerates, these favorable conditions for home buyers may begin slowly
slipping away, as inventory levels decline, and home sellers gain more bargaining power.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,165,300. This represents a 2.7 per cent decrease over July
2024 and a 0.7 per cent decrease compared to June 2025.
Sales of detached homes in July 2025 reached 660, a 4.1 per cent decrease from the 688
detached sales recorded in July 2024. The benchmark price for a detached home is
$1,974,400. This represents a 3.6 per cent decrease from July 2024 and a 1 per cent decrease
compared to June 2025.
Sales of apartment homes reached 1,158 in July 2025, a 2.9 per cent decrease compared to
the 1,192 sales in July 2024. The benchmark price of an apartment home is $743,700. This
represents a 3.2 per cent decrease from July 2024 and a 0.6 per cent decrease compared to
June 2025.
Attached home sales in July 2025 totalled 459, a five per cent increase compared to the 437
sales in July 2024. The benchmark price of a townhouse is $1,099,200. This represents a 2.3
per cent decrease from July 2024 and a 0.4 per cent decrease compared to June 2025.
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