As we review the 2025 housing market, we saw not only a slowdown, but a significant rebalancing of supply and demand. The year set historic marks, creating a new environment for anyone thinking of buying or selling a home.
The most discussed figure was the sales volume. With 23,800 transactions, the market saw its lowest annual total sales in over twenty years. While there were a lot of homes for sale and some great homes to be had, buyers were being very cautious. In addition to reduced demand, we also saw a significant surge in supply. A record number of homeowners, the most since the mid-1990s, chose to list their homes for sale, with over 65,000 new listings entering the market.
This combination of fewer buyers (low demand) and more supply led to a noticeable softening of home prices. The overall benchmark price declined by 4.5% over the year. A key indicator we watch, the ratio of sales to active listings, spent much of the year at levels that typically lead to lower prices.
It is important to note that while the OVERALL price declined by a fairly modest 4.5% there were MUCH higher price drops seen in different types of homes, price points and locations. Unfortunately, most sellers will have seen higher drops in their prices over the past year and much higher reductions from the price peak. There have been some very good buys out there for the buyers who are taking advantage of this market and sellers moving in the market, rather than cashing out, have also seen some favourable results.
If we look at the December 2025 numbers, last month in Greater Vancouver we saw:
Click HERE for Stats Package provided by the Greater Vancouver Realtors
The initial hesitation in the market was influenced by broader economic concerns, including trade tensions, which impacted consumer confidence for major decisions like home purchases, particularly in the first half of the year.
Now, we are seeing the early signs of a shift. Interest rates have come down from their peak, and the economic uncertainty that dampened the market is showing signs of stabilization. Consumer sentiment has begun to improve slightly and well priced homes are selling. We are entering 2026 in a market that offers a notable convergence of factors: more homes to choose from, moderated prices, and lower borrowing costs.
For those of you considering selling, this environment calls for a strategic and realistic approach. Well-priced, well-presented homes continue to attract serious buyers, but setting the right expectations from the start is more important than ever. Preparing your home for today's discerning market will set it apart in an active field. In addition, most sellers will still do very well on the tax free gain they will achieve if selling their principal residence. Unless one bought over the past few years, the price gains, even after the recent drop, will still be significant. Finally, if selling to move up in the market, this is the best type of market in which to achieve the most favourable "gap". Even if selling for LESS than you paid, moving up in this type of market can be very financially beneficial.
For Buyers, the conditions are more favourable than we have seen in ages. You now have more choices, better pricing, time to think and breathe when considering your options and the benefit of lower borrowing costs. It is a strong window to thoughtfully evaluate your options and make a move toward your housing goals with greater confidence and negotiating power.
The market's path forward will ultimately be shaped by how these opportunities meet changing confidence. This year will likely be one of adjustment, but also one of potential.
I am here to help you understand the trends, navigate the options, and make the informed decisions that are right for you. There are few things I enjoy more than helping people with real estate planning and understanding timing to best assist them in benefitting in different markets. If you have any questions or would like to discuss, please contact me.
The most discussed figure was the sales volume. With 23,800 transactions, the market saw its lowest annual total sales in over twenty years. While there were a lot of homes for sale and some great homes to be had, buyers were being very cautious. In addition to reduced demand, we also saw a significant surge in supply. A record number of homeowners, the most since the mid-1990s, chose to list their homes for sale, with over 65,000 new listings entering the market.
This combination of fewer buyers (low demand) and more supply led to a noticeable softening of home prices. The overall benchmark price declined by 4.5% over the year. A key indicator we watch, the ratio of sales to active listings, spent much of the year at levels that typically lead to lower prices.
It is important to note that while the OVERALL price declined by a fairly modest 4.5% there were MUCH higher price drops seen in different types of homes, price points and locations. Unfortunately, most sellers will have seen higher drops in their prices over the past year and much higher reductions from the price peak. There have been some very good buys out there for the buyers who are taking advantage of this market and sellers moving in the market, rather than cashing out, have also seen some favourable results.
If we look at the December 2025 numbers, last month in Greater Vancouver we saw:
- Sales of all types of properties were DOWN 12.9% from December 2024.
- Sales were 20.7% BELOW the 10-year seasonal average
- The number of homes listed for sale was UP 14.6% compared with December 2024. This is 34.8% higher than the 10-year seasonal average.
- The number of homes newly listed for sale was UP 10.3% from December 2024 and 10.3% above the 10-year seasonal average.
- Detached home sales were DOWN 12.8% from December 2024.
- The benchmark price for detached homes was DOWN 5.3% when compared to December 2024, and a 1.1% decrease compared to November 2025.
- The sales-to-active listings ratio overall was 12.7%; for detached homes, the ratio was 9.3%. Prices typically face downward pressure when the ratio remains below 12%.
Click HERE for Stats Package provided by the Greater Vancouver Realtors
The initial hesitation in the market was influenced by broader economic concerns, including trade tensions, which impacted consumer confidence for major decisions like home purchases, particularly in the first half of the year.
Now, we are seeing the early signs of a shift. Interest rates have come down from their peak, and the economic uncertainty that dampened the market is showing signs of stabilization. Consumer sentiment has begun to improve slightly and well priced homes are selling. We are entering 2026 in a market that offers a notable convergence of factors: more homes to choose from, moderated prices, and lower borrowing costs.
For those of you considering selling, this environment calls for a strategic and realistic approach. Well-priced, well-presented homes continue to attract serious buyers, but setting the right expectations from the start is more important than ever. Preparing your home for today's discerning market will set it apart in an active field. In addition, most sellers will still do very well on the tax free gain they will achieve if selling their principal residence. Unless one bought over the past few years, the price gains, even after the recent drop, will still be significant. Finally, if selling to move up in the market, this is the best type of market in which to achieve the most favourable "gap". Even if selling for LESS than you paid, moving up in this type of market can be very financially beneficial.
For Buyers, the conditions are more favourable than we have seen in ages. You now have more choices, better pricing, time to think and breathe when considering your options and the benefit of lower borrowing costs. It is a strong window to thoughtfully evaluate your options and make a move toward your housing goals with greater confidence and negotiating power.
The market's path forward will ultimately be shaped by how these opportunities meet changing confidence. This year will likely be one of adjustment, but also one of potential.
I am here to help you understand the trends, navigate the options, and make the informed decisions that are right for you. There are few things I enjoy more than helping people with real estate planning and understanding timing to best assist them in benefitting in different markets. If you have any questions or would like to discuss, please contact me.