Metro Vancouver Sales Hit Historic Lows
In a year that defied market expectations, the Greater Vancouver REALTORS® (GVR) reported that 2025 marked the lowest annual home sales total in over two decades. Just 23,800 properties were sold across the region, representing a 10.4% drop from 2024 and nearly 25% below the 10-year average of 31,625.
“This year was one for the history books,” said Andrew Lis, Chief Economist at GVR. Despite low sales, Metro Vancouver saw record listing activity, providing an interesting dynamic for 2026 buyers and sellers.
Sales-to-Listings Ratio Signals Buyer’s Market
One of the most telling metrics this December was the sales-to-active listings ratio, which landed at:
- Detached Homes: 9.3%
- Townhomes: 14.6%
- Condos: 15.1%
When this ratio dips below 12% for a sustained period, it typically signals downward pressure on prices. That’s exactly what unfolded across most housing categories.
Inventory Surges to Record High
While buyers hesitated, sellers flooded the market, leading to 65,335 total listings in 2025 — an 8.2% increase over 2024 and the highest total since the 1990s.
This number was:
- 28.4% higher than in 2023
- 13.1% above the 10-year annual average (57,782)
It’s clear the market has shifted in favor of buyers, offering greater selection and negotiating power.
Benchmark Price Trends in December 2025
The increase in supply and lower sales translated to declining home prices across all major property types.
📉 Detached Homes
- Benchmark Price: $1,879,800
- 1-Year Change: ▼5.3%
- 1-Month Change: ▼1.1%
🏘️ Townhomes
- Benchmark Price: $1,056,600
- 1-Year Change: ▼5.0%
- Notable Drop: Coquitlam ▼6.8%
🏢 Apartments
- Benchmark Price: $710,000
- 1-Year Change: ▼5.3%
- Notable Drop: Maple Ridge ▼8.0%
🔻 Top Areas with Price Declines
| Area | Property Type | 1-Year Price Change |
|---|---|---|
| West Vancouver | Apartment | ▼10.8% |
| Coquitlam | Townhouse | ▼6.8% |
| Tsawwassen | Detached | ▼7.3% |
| Sunshine Coast | Condo | ▼5.5% |
What This Means for Buyers in 2026
With lower borrowing costs, more listings, and softening prices, homebuyers in 2026 are entering one of the most favorable markets in recent years.
🔑 Key Takeaways for Buyers:
- Less competition = better deals
- More inventory = more options
- Lower mortgage rates = greater affordability
- Sellers more flexible on price and terms
Whether you’re a first-time buyer or upsizing, the coming months offer a rare window of opportunity.
Pre-Sale Market Outlook: A Strategic Opportunity
While the resale market slowed, pre-sale developments are poised for a rebound.
💡 Why Pre-Sales May Shine in 2026:
- Fixed pricing: Lock in today’s lower market rates
- Deposit structure: Spread payments over time
- Future value: Buy now, move in later — post market recovery
- Builder incentives: Developers are offering perks like upgrades or deposit matching
Pre-sales in Burnaby, Richmond, Coquitlam, and Vancouver East will likely see heightened interest as buyers try to hedge against future price rebounds.
📊 December 2025: Market Snapshot
✅ Sales Summary
| Type | December 2025 Sales | YoY Change |
|---|---|---|
| Detached | 431 | ▼12.8% |
| Townhomes | 303 | ▼18.3% |
| Apartments | 791 | ▼11.2% |
✅ New Listings in December
- Total New Listings: 1,849 (↑10.3% YoY)
- This was above the 10-year seasonal average
✅ Overall Benchmark Price:
$1,114,800
- ▼4.5% from December 2024
- ▼0.8% from November 2025
❓Frequently Asked Questions (FAQs)
1. Why were 2025 sales so low in Metro Vancouver?
Sales were impacted by high borrowing costs early in the year, global trade tensions, and changing buyer sentiment. It was a correction year after the post-pandemic boom.
2. Will prices continue to fall in 2026?
That depends on interest rates and buyer demand. Prices may stabilize as rates ease, but areas with excess supply could see further softening.
3. Is now a good time to buy a home in Vancouver?
Yes, with high inventory, lower prices, and falling interest rates, it’s a strong market for buyers.
4. How are pre-sales affected by the market slowdown?
Pre-sale projects remain active. Many developers are offering incentives, and pricing may be more competitive than in 2021–2022.
5. Which areas offer the best deals?
Look at Burnaby North, Coquitlam, Maple Ridge, and Richmond — these areas saw notable price drops and strong listing activity.
6. How can I take advantage of this market as an investor?
This is an ideal time to explore pre-sale condos and townhomes that will complete in 1–3 years. You can secure pricing now, while the market is soft, and reap gains as it recovers.
Conclusion: A Market in Reset, Not Retreat
The Vancouver real estate market in December 2025 marked a historic slowdown in sales — but also laid the groundwork for a more balanced, buyer-friendly environment in 2026.
This isn’t a crash — it’s a reset, and savvy buyers, especially those eyeing pre-sales, may find that 2026 becomes their launchpad for real estate success.