As we head into the quieter winter season, the Greater Vancouver housing market is showing a continuation of trends we’ve been watching all year — slower sales, more inventory, and modest price adjustments across property types, painting a picture of a market with plenty of choice for buyers and cautious price movement for sellers.

📉 Sales & Activity — Cooler Than Last Year

In November 2025, residential sales in Metro Vancouver totalled 1,846 units, down about 15.4% compared to November 2024. That’s notably below the typical activity we see this time of year, and while we often expect slower months as winter approaches, this trend reflects a broader shift toward a more balanced — even buyer-friendly — market compared with the heated conditions of past years. Greater Vancouver REALTORS®

At the same time, active listings remain elevated, with over 15,000 properties on the market — roughly 36% above the 10-year seasonal average, giving buyers plenty of options and more negotiating power.

📊 Sales-to-Active Listings Ratio — What It Means

One useful barometer of market balance is the sales-to-active listings ratio. In November, this sat at 12.6% overall, with detached homes at 9.7%, attached homes at 13.6%, and apartments at 14.8%. When the ratio stays below about 12% for an extended period, it tends to signal downward pressure on prices — something we’re watching closely as inventory stays healthy and demand remains measured. 

💰 Pricing Trends — Slight Softening

Across property types, we’re seeing benchmark prices slightly lower year-over-year, continuing a subtle adjustment from last year’s peaks:

• All residential properties: $1,123,700 (down ~3.9% YoY)

• Detached homes: $1,900,600 (down ~4.3% YoY)

• Apartments: $714,300 (down ~5.2% YoY)

• Townhouses: $1,065,600 (down ~4.4% YoY)

These shifts reflect both the ongoing increase in choice for buyers and sellers recalibrating expectations to align with current activity levels, rather than the rapid price growth we saw in previous years.

🧠 What This Means Right Now | November 2025 MLS® Market Insights | GVR

So what does that all add up to as the year closes?

• Buyers have more options and a bit more leverage than they did in the peak market years, which can translate to more thoughtful decisions and less competition for well-priced homes.

• Sellers may still find success — especially when pricing aligns with what’s realistic today — but homes are generally taking longer to sell, and those price adjustments are part of the new landscape.

• With borrowing costs expected to hold steady into the new year, any shift in momentum will likely come from changes in buyer confidence rather than big swings in lending conditions. 

If you’re curious about how these trends affect your neighbourhood specifically — whether you’re buying, selling, or just keeping an eye on the market — I’m always happy to dig into the numbers with you! Contact right now!

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