Greater Vancouver New(er) Home Resale Report: June 2025.

Every decade or so, the Metro Vancouver market seems to take a breath. At times, it can feel unattainable, competitive and downright dizzying. Over the past 15–20 years, strong sellers’ markets have dominated, with demand consistently outpacing supply, driving a long run-up in prices.

Still, there have been occasional pauses in the market’s strong run: the 2008–09 financial crisis, the tax-related slowdown of 2018–2019 (including the mortgage stress test), and more recently, the shift that began in 2022 as governments introduced the fastest interest rate hike cycle in history. It’s during these periods that buyers have often benefited the most, contrary to public opinion at the time.

This latest slowdown is now entering its fourth year, as uncertainty continues to shape market sentiment. Looking ahead, global economies, particularly south of the border, are expected to face lower interest rates, which could be the spark the housing market desperately needs.

In the meantime, total sales of newer, entry-level homes in the tracked urban markets are down nearly 50% from last June, while inventory is up 15%, solidifying a firm buyers’ market across all product types. That said, inventory dipped 5% month-over-month, with supply falling across condos, townhomes and single-family homes. This may signal a peak in available listings – a trend worth watching in the coming months.

Interest rates are anticipated to decrease slightly in the second half of the year. Even modest cuts could nudge more would-be buyers off the sidelines. For now, end-users – those buying to live in the home – remain the most active group, and that’s unlikely to change anytime soon.

Investors remain cautious and are looking for signs of a bottom before re-entering the market. Adding another layer to the story: immigration has slowed, and BC recently recorded its first quarterly population decline – the largest drop since 1951. As a result, most investors are waiting for stronger economic signals before making moves.

This shift is also reshaping the new-home development landscape. Many larger developers are announcing staff layoffs, pausing large-scale projects, or pivoting to purpose-built rentals – ultimately reducing the future supply of ownership condos. Over time, this will likely worsen affordability challenges, especially as Millennials and Gen Z continue entering their household formation years.

For those who understand the long-term dynamics of supply and demand, today’s market offers a rare opening. Overall, conditions are softening, giving buyers – especially those ready to move in and hold long term – a clear advantage in the near term and promising growth over time.

Townhome sales were down overall.

Only 22 newer entry-level townhomes sold in June 2025 – down 50% month-over-month and 29% year-over-year.

Buyers’ conditions remain across all tracked markets, with many prospective purchasers staying on the sidelines amid ongoing economic uncertainty and volatility.

Aside from East Vancouver, median sale prices across all tracked markets are down 5% to 13% year-over-year – creating a strong entry point for buyers, who currently hold the upper hand in negotiations.

In June 2025, median sale prices for newer entry-level townhomes ranged from $777,500 in Surrey to $1.46 million in Westside Vancouver, nearly double the cost. For now, motivated buyers can take their time, negotiate more aggressively and secure better terms – advantages that may fade once market activity picks up alongside improved economic clarity.

One-bed condos dipped.

As expected with the seasonal shift from spring to summer, one-bedroom condo sales dropped 40% month-over-month and 35% year-over-year.

Surprisingly, Surrey City Centre was the only market to post annual growth, with sales up nearly 36%. It also remains the region’s most affordable option – nearly $100,000 less than Coquitlam, the most affordable tracked market north of the Fraser.

Total inventory dipped 8% from last month but remains 13% higher than a year ago, keeping the one-bedroom condo market firmly in buyers’ territory – offering first-time buyers a great opportunity to get into the market before conditions potentially shift.

In June 2025, median sale prices for newer one-bedroom condos ranged from $421,000 in Surrey City Centre to $720,000 in North Vancouver.

Two-bed condos slid, but there aren’t lots of listings in most markets.

Two-bedroom condo sales fell 31% month-over-month and are down 38% compared to June 2024. Inventory dipped 5% this month but remains 16% higher than the same time last year.

With just 210 sales recorded across tracked markets and 1,253 units available, conditions continue to favour buyers. Burnaby and Richmond account for half of all two-bedroom condo supply, with median list prices in the high $800,000s.

While overall inventory may seem elevated against current sales activity, most markets have fewer than 100 homes available – roughly equivalent to the number released in a medium-to-large pre-sale building. In that context, resale inventory isn’t exceptionally high for newer two bedroom condos.

In June, median sale prices for newer two-bedroom condos ranged from $626,000 in Surrey City Centre to $994,500 in Downtown Vancouver.

Single-family homes remain in favour of buyers.

A total of 26 newer entry-level single-family homes sold in June 2025 – up 37% from the previous month but down 24% year-over-year.

The majority of sales occurred in more affordable South of Fraser markets, with median prices ranging from $1.68 million to $1.83 million.

Active listings declined 6% to 380, but remain 13% higher than the same period last year. This puts the entry-level single-family market firmly in favour of buyers, who hold strong negotiating power as inventory continues to outpace demand. With most markets recording fewer than five sales in June, sellers have little reason for optimism as competition remains high and activity subdued.

In June, median sale prices for newer entry-level single-family homes ranged from $1.68 million in South Surrey to upwards of $3.48 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.

Read the full Dexter Realty report by Manraj Dosanjh.