2025 was a year that will be remembered in Metro Vancouver’s real estate history.
According to Greater Vancouver REALTORS® (GVR), home sales registered on the MLS® system fell to their lowest annual level in over 20 years.

Total residential sales in 2025 reached 23,800, representing a 10.4% decrease from 2024 and a 9.3% drop from 2023. This figure sits 24.7% below the 10-year annual sales average, highlighting just how challenging the year was for overall market activity.

However, low sales did not mean low activity.

Despite subdued buyer demand, sellers brought a record number of listings to market. A total of 65,335 properties were listed in 2025, the highest level since the mid-1990s, even surpassing the previous peak seen in 2008. This reflects a market where supply significantly outpaced demand.

As of December 2025, active listings stand at 12,550, which is:

• 14.6% higher than December 2024

• 34.8% above the 10-year seasonal average

This abundance of inventory has placed downward pressure on prices across all property types.

The MLS® Home Price Index benchmark for all residential properties currently sits at $1,114,800, down 4.5% year-over-year.

By property type:

• Detached homes: Benchmark price $1,879,800 (↓5.3% YoY)

• Apartments: Benchmark price $710,000 (↓5.3% YoY)

• Townhouses: Benchmark price $1,056,600 (↓5.0% YoY)

Another key factor in 2025 was uncertainty. Trade tensions with the United States weighed on buyer confidence earlier in the year, but sentiment improved modestly in the second half. At the same time, borrowing costs declined by nearly one full percentage point, offering some relief to buyers.

Looking ahead to 2026, buyers are entering the market with:

• More choice

• Lower prices

• Improved borrowing conditions

The big question remains whether improved affordability and sentiment will translate into stronger demand. This is a trend worth watching closely in the months ahead.

Thinking about buying or selling? Feel free to reach out and let’s chat about your options.

2025 年，對大溫哥華房地產市場來說，是值得被寫進歷史的一年。
根據大溫地產經紀協會（GVR）數據，2025 年 MLS® 系統錄得的住宅成交量，創下 超過二十年來的新低。

全年住宅成交總數為 23,800 宗，較 2024 年下降 10.4%，也比 2023 年減少 9.3%，更是低於 過去十年平均成交量的 24.7%，顯示整體市場需求相當疲弱。

但成交量低，並不代表市場冷清。

事實上，賣方在 2025 年大量進場掛牌。全年共有 65,335 個物業上市，創下自 1990 年代中期以來的新高，甚至超越 2008 年的歷史紀錄，顯示供應遠高於需求。

截至 2025 年 12 月：

• 市場活躍掛牌量為 12,550 套

• 比 2024 年 12 月增加 14.6%

• 高於十年季節性平均 34.8%

供給充足，自然對價格形成壓力。

目前大溫住宅整體基準價為 $1,114,800，按年下跌 4.5%。

各類型住宅表現如下：

• 獨立屋：$1,879,800（年跌 5.3%）

• 公寓：$710,000（年跌 5.3%）

• 城市屋：$1,056,600（年跌 5.0%）

2025 年的另一個關鍵因素，是市場信心。年初因美國貿易緊張局勢，買家態度轉趨保守，但在下半年已有溫和改善。同時，按揭利率全年累計下降接近 1%，對買家來說是一個重要的利好。

展望 2026 年，買家正站在一個相對有利的起點：

• 選擇更多

• 價格回調

• 借貸成本下降

接下來最重要的問題是，這些條件是否會真正轉化為更強的市場需求，這也將是 2026 年房市走向的關鍵觀察點。

不確定現在適不適合買或賣？歡迎私訊我，我們可以一起聊聊你的情況。