Canada’s most expensive real estate market got more affordable in 2025, but don’t bring a bag of loonies if you’re thinking of buying; you may still need a co-signer.
Prices were down for all home types sold in the Greater Vancouver Area (GVA) last month, but that didn’t send buyers rushing out for a good deal, says the Greater Vancouver Realtor’s association (GVR).
GVA sales in 2025 reached 23,800 homes, a 10.4% decrease year-over-year and the lowest annual sales total recorded in the last two decades. The number of homes listed for sale was the highest in 30 years.
“This year was one for the history books,” said Andrew Lis, GVR’s chief economist and vice president, data analytics. “Although the sales total was the lowest in over two decades, realtors were still busy listing properties. Sellers brought the highest total of listings to market on record since the mid-1990s, eclipsing the previous record high in 2008 by a little over 1,000 listings.”
There were 65,335 homes listed for sale in Metro Vancouver, an 8.2% increase from the 60,388 properties listed in 2024 and a 28.4% increase from the 50,893 properties listed in 2023.
At the end of December there were 12,550 homes listed for sale, a 14.6% increase from 10,948 in December 2024.
“The forecast we put out last January noted a foreseeable downside risk, which while prescient, unfortunately materialized in 2025,” said Lis. “Specifically, we noted that trade tensions with the USA could negatively impact sales and prices, and this downside risk came to pass. The upshot, however, is that the negative impact of these trade tensions appears to be easing, and consumer sentiment has improved modestly over the second half of the year.”
The composite benchmark price for properties in Metro Vancouver at year end was $1,114,800, a 4.5% decrease from December 2024 and a 0.8 percent decrease from November 2025.
“With sales down and inventory remaining plentiful, prices eased across all property types since the start of 2025. Sales and prices weren’t the only metrics that came down, borrowing costs fell nearly one full percentage point,” said Lis.
“With lower prices, lower borrowing costs, and plenty of inventory to choose from, homebuyers in 2026 are starting the year with favorable conditions. Whether these conditions translate into a market with stronger demand will be the million-dollar question — and we’ll be monitoring this story closely as it unfolds.”
December 2025 summary for Greater Vancouver Area
Sales totalled 1,537, a 12.9% decrease from the 1,765 sales in December 2024.
There were 1,849 detached, attached and apartment properties newly listed for sale in Metro Vancouver in December 2025, a 10.3% percent increase from the 1,676 properties listed in December 2024.
Single-family home sales reached 431, a 12.8% decrease from the 494 sales recorded in December 2024. The benchmark price for a single-family home reached $1,879,800, a 5.3 percent decrease from December 2024 and a 1.1 percent decrease from November 2025.
There were 791 apartment sales in December, down from 891 sales in December 2024. The benchmark price was $710,000, down 5.3 percent from December 2024 and down 0.6 percent from November 2025.
Attached home sales in December 2025 reached totalled 303, an 18.3% decrease from the 371 sales in December 2024. The benchmark price of a townhouse is $1,056,600, down five percent from December 2024 and a 0.8 percent decrease from November 2025.
Real estate boards in Edmonton and Toronto had not released December 2025 numbers at the time of writing
