July 2025 Market Activity for Greater Vancouver

Home sales across Metro Vancouver, as recorded on the MLS®, continued to show signs of recovery in July, following a positive trend that began in June. Sales are now just 2% lower than the same time last year. According to the Greater Vancouver REALTORS® (GVR), residential sales in the region reached 2,286 in July 2025, slightly down from 2,333 in July 2024. This represents a 13.9% decline compared to the 10-year seasonal average of 2,656. "The data from June indicated a promising shift in sales activity, and the July numbers reinforce this positive trend," said Andrew Lis, GVR’s director of economics and data analytics. "While the Bank of Canada held its policy rate steady in July, this decision may provide greater certainty for borrowers, which could encourage continued sales activity, especially in light of ongoing economic uncertainty due to trade negotiations with the USA." In July 2025, 5,642 properties, including detached, attached, and apartment homes, were newly listed on the MLS® in Metro Vancouver. This is a modest 0.8% increase compared to 5,597 new listings in July 2024 and 12.4% above the 10-year seasonal average of 5,018. The total inventory of properties currently listed on the MLS® in Metro Vancouver stands at 17,168, marking a 19.8% increase from the 14,326 listings in July 2024. This is 40.2% higher than the 10-year seasonal average of 12,249. The sales-to-active listings ratio for July 2025 across all property types is 13.8%. Breaking it down by property type: detached homes have a ratio of 10.2%, attached homes 16.7%, and apartments 15.9%. Historically, when the sales-to-active listings ratio drops below 12% for an extended period, home prices face downward pressure, while a ratio above 20% often leads to upward pressure on prices. "With new listings remaining steady in July, inventory levels have stabilized around 17,000, giving buyers a wide range of options," Lis explained. "While sales activity is recovering, the balance between supply and demand should keep prices stable in the short term. However, if the sales recovery accelerates, we may see a decline in inventory levels, giving sellers more negotiating power." The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,165,300, representing a 2.7% decrease from July 2024 and a 0.7% decrease from June 2025. In terms of property types, detached home sales in July 2025 reached 660, a 4.1% decrease from 688 in July 2024. The benchmark price for detached homes is $1,974,400, reflecting a 3.6% decrease from July 2024 and a 1% decrease from June 2025. Apartment sales in July 2025 totalled 1,158, a 2.9% decrease from 1,192 in July 2024. The benchmark price for apartments is $743,700, which is 3.2% lower than July 2024 and 0.6% lower than June 2025. Sales of attached homes saw a positive shift, with 459 sales in July 2025, marking a 5% increase compared to 437 sales in July 2024. The benchmark price for townhouses is $1,099,200, down 2.3% from July 2024 and 0.4% from June 2025. In summary, Metro Vancouver's housing market is showing promising signs of recovery, with stable inventory levels and steady sales activity. While prices have seen slight declines in most property types, market conditions remain balanced, offering opportunities for both buyers and sellers.