GVR Market Review
Sales Activity Continues — Inventory Remains Elevated — Detached Homes Slump
Wondering what changed in Metro Vancouver's real estate market last month?
August’s Snapshot
Metro Vancouver’s housing market in August 2025 showed modest improvement in sales but continued to face significant supply pressure and softening prices. A total of 1,959 homes sold—up 2.9% from last year but still nearly 20% below the 10-year seasonal average—while inventory remained elevated at 16,242 active listings, a 17–18% increase year-over-year and well above historical norms. New listings also edged higher, contributing to the oversupply that continues to push prices down.
The composite benchmark for all homes dipped to $1,150,400, down 3.8% from last August and 1.3% from July, with detached homes particularly affected at $1,950,300, nearly 5% below 2024 levels. Overall, the market remains largely balanced, though detached housing continues to face the greatest downward pressure.
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Let’s break down the numbers and what they mean for you.
Market at a Glance
Sales Activity:
- 1,959 residential sales in August 2025
- 2.9% increase over August 2024
- 327 less sales compared to July 2025
- 19.2% below the 10-year average
New Listings:
- 4,225 properties listed in August 2025
- Up 2.8% from August 2024
- 1.3% above the 10-year seasonal average
Total Active Listings:
- 16,242 homes on the market
- Up 17.6% from August 2024
- 36.9% higher than the 10-year average
MLS® HPI Composite Benchmark Price:
- $1,150,400
- Down 3.8% year-over-year
- Down 1.3% from July 2025
Despite the number of new listings slowing in August supply is still historically high.
Sales are down compared to July, but strong compared to the majority of 2025.
With each passing month the HPI Benchmark is edging downwards. It is down between 3.5% & 4.8% year over year.
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Sales-To Active Listing Ratio August 2025
Data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
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Breaking Down the Property Types
Detached Homes
- 575 sales in August 2025
- Up 13% from August 2024
- 85 less sales than July
- Benchmark Price: $1,950,300
- Down 4.8% from August 2024
- Down 1.2% from July 2025
Apartment Homes
- 956 sales in August 2025
- Down 5.5% from August 2024
- 202 less than July
- Benchmark Price: $734,400
- Down 4.4% from August 2024
- Down 1.3% from July 2025
Attached Homes (Townhouses)
- 409 sales in August 2025
- Up 10.5% from August 2024
- 50 less than July
- Benchmark Price: $1,079,600
- Down 3.5% from August 2024
- Down 1.8% from July 2025
Metro Vancouver Market Highlights August 2025:
What's Driving Trends?
Metro Vancouver’s housing market is being shaped by the push and pull of elevated inventory, steady seasonal demand, and a wavering return of buyer confidence. Overall the market is showing signs of life, with sales up compared to last year, but momentum slowed in August after a busier July as many buyers held back to see if prices will ease further.
Even with the number of new listings down in August supply remains historically high. After buyers who have been waiting for the majority of 2025 returned in July…they drove prices down…making the next wave of buyers more apprehensive.
While conditions vary by property type, detached homes continue to face the most downward pressure, with abundant supply giving buyers more leverage. In contrast, townhomes and apartments are holding steadier as balanced activity helps temper price declines; the relative balance here is holding buyers attention more actively.
Together, these forces are creating a market that feels stable on the surface yet still carries an undertone of adjustment as buyers and sellers wait to see how the next few months unfold. Top level, over-supply is still affecting pricing and that adjustment is in turn regulating buyer activity.
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Expert Insight
Andrew Lis, Director of Economics and Data Analytics at Greater Vancouver REALTORS®, reflects on the latest housing data:
“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. 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.”
Lis also pointed out:
“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.”
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What This Means for Buyers & Sellers
For Buyers
- Detached Homes = Best Leverage – Prices are down nearly 5% year-over-year with supply still high, giving buyers strong negotiating power.
- Act Before Window Closes – Sales dipped from July, but if activity rises again this fall, today’s abundant choice may shrink.
- Townhomes & Condos Hold Steady – Discounts here are smaller, but conditions remain more favorable than in past years.
For Sellers
- Price Sharply to Compete – Elevated inventory means only well-priced homes are moving; stale listings risk being overlooked.
- Detached Homes Hit Hardest – This segment faces the most downward pressure, so realistic pricing and strong marketing are essential.
- Market May Be Turning – As Andrew Lis notes, rising sales paired with steady new listings could tighten supply.
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Greater Vancouver Home Sales 2025 VS 2024
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Looking Ahead
Metro Vancouver’s market is settling into a cautious rhythm, with sales showing signs of recovery but inventory still at historically high levels.
Buyers continue to benefit from choice and leverage, but if sales keep rising while new listings hold steady, today’s abundance of options may narrow. For sellers, realistic pricing and strong presentation will be critical as the market adjusts through the fall.
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CLICK HERE FOR THE FULL GVR August 2025 STATISTICS PACKAGE
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