Vancouver area home sales hit lowest level in more than two decades in 2025
CBC
Greater Vancouver recorded its lowest annual home sales total in more than two decades in 2025, capping a year that saw weak buyer demand, rising inventory and easing prices, according to new data from Greater Vancouver Realtors.
Residential sales in the region totalled 23,800 last year, down 10.4 per cent from 2024 and nearly 25 per cent below the 10-year annual average.
The board said it was the fewest number of homes sold in the region, eclipsing the numbers recorded during the 2008 financial crisis, which saw more than 24,000 properties sold.
“This year was one for the history books,” said the board’s chief economist Andrew Lis. “That's the story that we've seen unfolding for quite some time now. So it's not entirely surprising to show up at the end of the year with sales being where they're at.”
Despite the sales numbers, realtors were still busy listing properties, Lis says.
There were more than 65,000 total properties listed in the region in 2025, an 8.2 per cent increase compared with 2024 and more than 28 per cent above 2023 levels.
The total number of properties listed last year was also 13.1 per cent above the region’s 10-year total annual average.
In December, 1,849 detached, attached or apartment properties were newly listed for sale in the region, 10.3 per cent more than the same month a year earlier.
Lis said that with sales down and plenty of inventory available, prices have eased across all property types since the start of 2025.
The benchmark price for a detached home in December was $1,879,800, marking a 5.3 per cent decrease from a year earlier and a 1.1 per cent decrease compared with November 2025.
Condo prices were also down 5.3 per cent year-over-year at $710,000, which was 0.6 per cent lower than the previous month. The benchmark price of a townhouse stood at $1,056,600 — five per cent below December 2024 and 0.8 per cent lower than November 2025.
Lis says that uncertainty due to trade tensions with the United States weighed heavily on buyer psychology.
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