Welcome to our August Market Report

Home sales in Greater Vancouver hit their highest monthly total of 2025, with 2,282 transactions in July — up 4.3% from June and marking the fifth rise in six months. While sales remain 18% below the 10-year July average, the positive uptick indicates that buyers are beginning to re-enter the market.

Inventory tightened for the first time since December, but this in not uncommon in a summer market. Looking forward, listing inventory is likely to surge again after Labour Day.

As the Vancouver market searches for its next footing, many prospective buyers may eventually look back at the current environment as a window of opportunity. In a recent BNN interview, Royal LePage Canada President and CEO Phil Soper commented that Canadians currently looking to purchase a home may be in for a pleasant surprise, as many real estate markets across the country are seeing improved affordability. He noted, “Depending on the quarter, if you look over the last three years, wages and salaries have been 50 per cent and 100 per cent, or double, the long-term norm. Whereas, if you go back over the last three years, home prices are off in aggregate maybe 11 per cent… so, we’ve had home prices declining, the cost of borrowing declining and wages and salaries stronger than typical; it’s an affordability window we haven’t seen in the country since the mid-90s.”

If you have any questions about how these market conditions may affect your specific situation, please don’t hesitate to contact me. I’m happy to discuss your property questions.

Last Month’s Listings and Sales

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News From the Real Estate Board

Home sales registered on the MLS® across Metro Vancouver* in July extended the early signs of recovery that emerged in June, now down just two per cent from July of last year.

"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. Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the US." reports Andrew Lis, GVR director of economics and data analytics.

“Although sales activity is now recovering, this healthy level of inventory is sufficient to keep home prices trending sideways over the short term as supply and demand remain relatively balanced. However, if the recovery in sales activity accelerates, these favorable conditions for home buyers may begin slowly slipping away, as inventory levels decline, and home sellers gain more bargaining power.”

The Board reports that for Metro Vancouver the sales-to-active listings ratio for the month of July were by property type:

• 10.2 per cent for detached homes

• 16.7 per cent for attached

• 15.9 per cent for apartments

(The sale to active ratio indicates what type of market each sector is in. 0-12% equals a buyer’s market, 12-20% equals a balanced market and 20-100% equals a seller’s market.)

If 2025 is your year to make a move, let us help you customize a successful plan. Call us to get started.

-Dan Pigott
604-862-4124
dan@pigottproperties.com

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