Welcome to our September Market Report
Greater Vancouver’s housing market is showing early signs of momentum. In August, sales rose 4% year-over-year — the first annual increase in seven months — as buyers responded to recent price adjustments. The average home sold for $1.23M, down 1% month-over-month, while inventory declined slightly to 15,601 listings. Detached homes saw the sharpest drop, falling 6.8% in a month and now sitting nearly 18% below peak values, creating potential opportunities for buyers.
Townhouses are down 10% from early 2022 highs, while condo prices edged up 3.3% to $812,610. With sales improving and listings tightening, conditions could shift toward a more competitive market heading into year-end.
Remember, trends vary by neighbourhood and property type — check in with me for insights specific to your area.
-Dan Pigott 604-862-4124
Last Month’s Listings and Sales
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News From the Real Estate Board
Easing prices brought more Metro Vancouver* homebuyers off the sidelines in August, with home sales on the MLS® up nearly three percent from August last year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,959 in August 2025, a 2.9 per cent increase from the 1,904 sales recorded in August 2024. This was 19.2 per cent below the 10-year seasonal average (2,424).
“The August sales figures add further confirmation that sales activity across Metro Vancouver appears to be recovering, albeit somewhat slowly, from the challenging first half of the year,” said Andrew Lis, GVR’s director of economics and data analytics.
“Sales in the detached and attached segments are up over ten per cent from last August, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way.”
“Prices have eased around two per cent since the start of the year and are down about one per cent month over month in August, signalling that sellers have been willing to lower price expectations,” Lis said. “As sellers’ and buyers’ expectations have become more aligned, transaction volume has picked up. Newly listed properties remain in line with their ten-year seasonal average however, which when paired with increasing sales activity, is likely to diminish the available inventory. This also means the window of plentiful opportunity for buyers may soon begin closing if these trends continue.”
The Board reports that for Metro Vancouver the sales-to-active listings ratio for the month of August were by property type:
9.3 per cent for detached homes
15.8 per cent for attached
14 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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