Don’t let headlines or YouTube thumbnails predicting the “end” of the Metro Vancouver housing market shake your long term goals. While some commentators treat real estate like a day trading stock, Metro Vancouver is more like a blue chip: designed to be held for the long term. This market is not just a place to call home, but also a safe and rewarding long term asset for you and your family, one that grows in value over time and rewards patience and strategic thinking.
Since the market peak in Spring 2022, sales have slowed across Metro Vancouver and many global markets. Real estate is largely driven by borrowing costs. Homes are rarely bought all cash, even by the ultra-wealthy, because using cash represents a significant opportunity cost. They too weigh whether keeping capital invested elsewhere may provide a better return. When rates rise, buying power decreases. When rates fall, affordability improves. High rates have been a key factor slowing sales, and in Metro Vancouver, interest rates remain the market’s primary driver.
Current economic data suggests the Bank of Canada, which operates independently and bases its decisions on trends and indicators, may lower interest rates in the months ahead. Such cuts could ease borrowing costs, boost buyer confidence and support renewed market activity.
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Focus on the data, act strategically and work with an advisor who can help you navigate the market, because opportunity favours those who are prepared.
Manraj Dosanjh
Dexter Realty
For buyers, staying informed and aware of market nuances is essential. The best deals are made on the buy, and acting before the broader market responds can unlock significant opportunities. That requires diligence, insight and strategic thinking. Working with an advisor who monitors trends, rates and activity ensures you separate noise from opportunity and make confident, well-informed moves.
August 2025 data shows sales activity near multi-year lows, while inventory remains well above average. Negative sentiment in the pre-sale and new home space is pushing housing starts to record lows, which will impact future supply. When activity normalizes and homes begin to sell, the pendulum could swing back in favour of sellers as reduced new supply limits availability.
As with any valuable asset, when demand exceeds supply, prices follow. Metro Vancouver real estate is no exception. Focus on the data, act strategically and work with an advisor who can help you navigate the market, because opportunity favours those who are prepared.
Townhomes dipped.
August townhome activity saw sales decline by 15% compared to July and 22% year-over-year, with just 28 homes sold across all tracked markets.
Townhomes, often associated with young move-up families, continue to face slower demand as economic uncertainty keeps these buyers on the sidelines. For those ready to enter the market, conditions strongly favour buyers, offering significant negotiating power.
In August 2025, median sale prices for newer entry-level townhomes ranged from $800,000 in Surrey to $1.63 million on Vancouver’s Westside – nearly double the cost.
One-bed condos saw a difficult month.
Newer one-bedroom condo sales faced another difficult month, dropping 43% compared to both the previous month and the same period last year.
Interestingly, condos in markets with easy access to SkyTrain are struggling the most, with sales-to-listing ratios ranging from just 3% to 8%. In contrast, areas not connected to SkyTrain – such as South Surrey and North Vancouver – are performing better. This reflects the sheer volume of condos built in transit-oriented hubs compared to more suburban, car-oriented markets.
At a median list price of $450,000, Surrey City Centre saw a notable jump in month-over-month sales, up 60%. Is this momentum hinting at what’s to come as rates ease, given it’s the most affordable option for a newly built condo along a SkyTrain line?
In August 2025, median sale prices for newer one-bedroom condos ranged from $410,000 in Surrey City Centre to $701,000 in Downtown Vancouver.
Two-bed condos are in a buyer’s market in most areas.
Two-bedroom sales totaled 99 in August 2025, down 12% from the previous month but up 8% compared to last year.
On a percentage basis, prices for two-bedroom condos have decreased across most markets by double digits year-over-year, creating a strong buying opportunity for those waiting for more affordability.
Overall, the market continues to favour buyers, with the exception of South Surrey and North Vancouver, which are trending toward balanced to seller’s market conditions.
Transit-oriented pockets in Coquitlam and Burnaby continue to lead sales activity north of the Fraser.
In August, median sale prices for newer two-bedroom condos ranged from $550,000 in Surrey City Centre to $1.33 million in Downtown Vancouver.
Single-family homes are essentially frozen.
The newer entry-level single-family home is essentially frozen, with just 15 sales being recorded across the region. Most markets saw just one to four homes transact throughout the month.
Buyers of newer entry-level homes are likely moving up from multi-family homes such as townhomes, but the equity required to move up may not be as high as most hoped for from the sale of their multi-family home.
However, for those looking to make a move, conditions are on your side, with great room for negotiation – especially for a product type that continues to become extinct as years go by. Over the long-term, a single-family property will be a very strategic asset to be holding on to, all while having your family grow comfortably in a space together.
In August, median sale prices for newer entry-level single-family homes ranged from $1.32 million in Surrey to upwards of $4.07 million in Westside Vancouver.
Reasons why you should consider newer-home resale data:
- Facilitates wise choices in new pre-sale purchases by providing valuable comparables, offering insights into product considerations for both personal use and investment.
- Great for those looking to purchase housing that is still in the early stages of its lifecycle – this means less repairs and maintenance during the first few years of ownership.
- More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.
- Homes include some of the latest design and technology – great for resale value.
- Monthly sales statistics crucial for evaluating and planning new housing developments.
- These figures are routinely used by industry stakeholders such as real estate developers to understand the value of land and anticipated market values for newly completed homes.
Market Insights Report: August 2025
The end of summer usually means the beginning of an upswing in the Greater Vancouver real estate market. Did that happen this year? Not exactly – but the story is more complex than that when we look at the numbers. Unpack the finer details of the current property market with Dexter Realty’s Kevin Skipworth in the Monthly Market Insights Report.
