The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 23,800 in 2025, a 10.4 percent decrease from the 26,561 sales recorded in 2024, and a 9.3 percent decrease from the 26,249 sales in 2023.

Last year’s sales total was 24.7 per cent below the 10-year annual sales average (31,625).

This year was one for the history books. 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.

Properties listed on the MLS® in Metro Vancouver totalled 65,335 in 2025. This represents an 8.2 percent increase compared to the 60,388 properties listed in 2024. This was 28.4 percent above the 50,893 properties listed in 2023.

The total number of properties listed last year was 13.1 percent above the region’s 10-year total annual average of 57,782.

Currently, the total number of homes listed for sale on the MLS® system in Metro Vancouver is 12,550, a 14.6 percent increase compared to December 2024 (10,948). This is 34.8 percent above the 10-year seasonal average (9,308).

The forecast we put out last January noted a foreseeable downside risk, which, while prescient, unfortunately materialized in 2025. 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 MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,114,800. This represents a 4.5 per cent decrease over December 2024 and a 0.8 percent decrease compared to 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. With lower prices, lower borrowing costs, and plenty of inventory to choose from, homebuyers in 2026 are 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.