Greater Vancouver Market Update - July 2025

If you’ve been watching the Greater Vancouver real estate market, July 2025 continued to show signs of recovery. Home sales across Metro Vancouver, including Burnaby, New Westminster, Coquitlam, Surrey, Richmond, and North Vancouver, held steady — with sales down just 2% compared to July 2024.

Sales Activity in Metro Vancouver

According to the Greater Vancouver REALTORS® (GVR), 2,286 residential properties sold on the MLS® in July 2025. That’s only slightly lower than the 2,333 sales in July 2024 and reflects the emerging trend of market stabilization across cities like Vancouver, West Vancouver, Port Moody, and Langley.

While sales were still 13.9% below the 10-year seasonal average, the slowdown has eased. As Andrew Lis, GVR’s Director of Economics and Data Analytics, explained:

“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend.”

With the Bank of Canada holding interest rates steady, buyers across Burnaby, Coquitlam, and New Westminster may feel more confident about entering the market — even as trade negotiations with the U.S. create some economic uncertainty.

New Listings and Housing Supply

  • New Listings: 5,642 properties (detached homes, townhouses, and condos) were listed for sale on the MLS® in July 2025. This is 0.8% higher than July 2024 and 12.4% above the 10-year seasonal average.

  • Total Inventory: The Greater Vancouver MLS® now has 17,168 active listings, which is 19.8% higher than last year and a significant 40.2% above the 10-year average.

This means buyers in Surrey, Richmond, Burnaby, and Coquitlam currently have more choice and negotiating power than they’ve had in years.

Sales-to-Active Listings Ratio

The overall sales-to-active listings ratio in Metro Vancouver for July 2025 was 13.8%:

  • Detached Homes: 10.2% – with slower sales in West Vancouver, North Vancouver, and Richmond.

  • Townhouses / Attached Homes: 16.7% – with strong demand in Coquitlam, Port Moody, and Langley.

  • Apartments / Condos: 15.9% – steady activity in Burnaby’s Metrotown, New Westminster’s waterfront, and Downtown Vancouver.

Historically, below 12% suggests downward pressure on prices, while above 20% often means prices will rise.

Current Home Prices in Greater Vancouver

  • All Residential: $1,165,300 (down 2.7% year-over-year, down 0.7% month-over-month)

  • Detached Homes: $1,974,400 (down 3.6% YoY, down 1% MoM) – more affordability appearing in Coquitlam, Langley, and Surrey.

  • Apartments / Condos: $743,700 (down 3.2% YoY, down 0.6% MoM) – popular in Burnaby, New Westminster, and Richmond.

  • Townhouses: $1,099,200 (down 2.3% YoY, down 0.4% MoM) – strong sales in Port Moody, North Vancouver, and Coquitlam.

What This Means for Buyers and Sellers in Greater Vancouver

For buyers:

  • More active listings in Burnaby, New Westminster, Surrey, and Coquitlam mean more choice.

  • Less competition compared to previous years.

  • Opportunities to negotiate favorable prices and terms.

For sellers:

  • Homes are still selling across Metro Vancouver — but accurate pricing is key.

  • Proper staging and professional marketing can help properties stand out, especially in high-demand areas like North Vancouver and Richmond.

Your Local Real Estate Advantage

Whether you’re buying a condo in Burnaby, selling a townhouse in Coquitlam, or investing in New Westminster’s waterfront real estate, having a Greater Vancouver REALTOR® who understands each city’s market trends is critical.


📞 Contact Damien Marks - 778-984-6166 – your trusted Greater Vancouver real estate agent – for a personalized market analysis, MLS® listing alerts, and expert guidance on buying or selling in:
Vancouver, Burnaby, New Westminster, Coquitlam, Surrey, North Vancouver, West Vancouver, Port Moody, and Langley.