Metro Vancouver’s home sales in 2025 were lowest total in 2 decades

Metro Vancouver’s home sales in 2025 were the lowest annual sales total in more than two decades, according to a report released on Monday.

The Greater Vancouver Realtors (GVR) report stated that homes registered in the Multiple Listing Service (MLS) in Metro Vancouver finished the year down 10 per cent.

Residential sales in the region totalled 23,800 in 2025, which is a 10.4 per cent decrease from the 26,561 sales recorded in 2024 and a 9.3 per cent decrease from the 26,249 sales in 2023.

The report found that 2025 sales were 24.7 per cent below the 10-year annual sales average, which was 31,625.

“This year was one for the history books,” Andrew Lis, the chief economist and vice-president of data analytics for the GVR, said.

“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.”

The number of properties listed for sale on the MLS in Metro Vancouver totalled 65,335, which is an 8.2 per cent increase compared to the 60,388 properties listed in 2024 and was 28.4 per cent above the 50,893 listed in 2023.

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Lis said the GVR put out a forecast in January 2024, foreseeing a downside risk, which “unfortunately materialized” in 2025.

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“Specifically, we noted that trade tensions with the USA could negatively impact sales and prices, and this downside risk came to pass,” he said.

“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 MLS Home Price Index composite benchmark price for all residential properties for sale in Metro Vancouver is also down 4.5 per cent over December 2024, with an average price of $1,114,800.

Lis said that anyone looking for a home in 2026 is starting the year with favourable 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.”

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