In 2025, the Greater Vancouver area saw its lowest annual home sales figures in over 20 years. Data from Greater Vancouver Realtors revealed a total of 23,800 residential sales in the region, a 10.4% drop from 2024 and nearly 25% below the 10-year average.
According to the board, this marked the lowest number of homes sold in the region, surpassing the figures from the 2008 financial crisis when over 24,000 properties were sold. Chief economist Andrew Lis described the year as historic, reflecting a trend that had been ongoing for some time.
Despite the decline in sales, real estate agents continued to list properties actively. The region saw over 65,000 properties listed in 2025, an 8.2% increase from the previous year and more than 28% higher than 2023 levels. This total was also 13.1% above the region’s 10-year annual average.
Throughout 2025, with sales decreasing and ample inventory available, prices softened across all property types. In December, the benchmark price for a detached home was $1,879,800, a 5.3% drop from the previous year. Condo prices also fell by 5.3% year-over-year to $710,000, while townhouse prices stood at $1,056,600, reflecting a 5% decrease from December 2024.
Trade tensions with the United States were cited as a major factor affecting buyer sentiment, leading to uncertainty in the market. Real estate adviser Hasan Juma highlighted how global events and affordability concerns caused buyers to hesitate, resulting in properties staying on the market for extended periods.
Looking ahead to 2026, Lis expressed optimism for an improvement in sales as uncertainty diminishes and buyer confidence strengthens. He noted that lower prices, reduced borrowing costs, and a wide selection of inventory could create favorable conditions for homebuyers in the coming year.