Metro Vancouver Real Estate Market Update – July 2025: Recovery Continues, But Inventory Remains High

July’s Metro Vancouver real estate market data confirms the positive trend observed in June: a continued, albeit gradual, recovery. While sales remain below last year’s levels, the year-over-year decline has significantly narrowed, suggesting a shift towards a more balanced market.
The high inventory levels, however, continue to favor buyers.

Key Market Stats – July 2025

Overall Residential Market

  • Total Sales: 2,286 (↓2% YoY) Note: A significant improvement from previous months.
  • Benchmark Price: $1,165,300 (↓2.7% YoY, ↓0.7% MoM)
  • New Listings: 5,642 (↑0.8% YoY)
  • Total Active Listings: 17,168 (↑19.8% YoY)
  • Sales-to-Active Listings Ratio: 13.3% (Balanced market)

By Property Type:

  • Detached Homes:
    • Sales: 660 (↓4.1% YoY)
    • Benchmark Price: $1,974,400 (↓3.6% YoY, ↓1% MoM)
    • Active Listings: 6,483
    • Average Days on Market: 42
    • Sales-to-Active Ratio: 10.2% (Buyer’s Market)
  • Townhomes:
    • Sales: 459 (↑5% YoY) Note: Continued increase from previous month.
    • Benchmark Price: $1,099,200 (↓2.3% YoY, ↓0.4% MoM)
    • Active Listings: 2,755
    • Average Days on Market: 30
    • Sales-to-Active Ratio: 16.7% (Balanced market)
  • Apartments:
    • Sales: 1,158 (↓2.9% YoY)
    • Benchmark Price: $743,700 (↓3.2% YoY, ↓0.6% MoM)
    • Active Listings: 7,263
    • Average Days on Market: 35
    • Sales-to-Active Ratio: 15.9% (Balanced market)

Market Insights

July’s sales figures reinforce the emerging trend of market stabilization. The minimal year-over-year decline (2%) indicates a significant improvement from the more substantial drops seen earlier in the year. Andrew Lis, GVR’s director of economics and data analytics, highlights this positive momentum, noting that the Bank of Canada’s decision to hold the policy rate steady contributes to greater certainty in borrowing costs.

Despite the sales recovery, the high inventory levels persist. The total number of active listings remains significantly above the 10-year average, offering buyers ample choice. This abundance of supply, coupled with relatively stable prices, continues to create favorable conditions for those seeking to purchase.

Looking Ahead

While the market shows signs of recovery, the high inventory levels suggest that prices are unlikely to experience significant upward pressure in the near term. The coming months will be crucial in observing whether the sales recovery continues to gain momentum and whether the current inventory levels begin to decline. This will ultimately determine the balance of power between buyers and sellers.

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July’s data suggests a market in transition. Buyers continue to benefit from a large selection of properties and relatively stable prices, while sellers need to adjust their expectations to account for longer days on market. The coming months will reveal whether this recovery is sustainable and how it will impact the balance between supply and demand in Metro Vancouver’s real estate market.