Summary:
Vancouver’s real estate market saw an 18.5% year-over-year decline in residential sales in May 2025, with transactions 30.5% below the 10-year seasonal average. Economic uncertainty and global trade concerns have dampened buyer confidence, leading to longer listing durations—detached homes now average 32 days on market versus 26 last year. Despite a 25.7% surge in active listings (17,094 properties), benchmark prices dipped 2.9% annually to $1,177,100. Greater Vancouver Realtors note this inventory surge creates buyer-friendly conditions, with sellers adjusting price expectations. Analysts anticipate potential summer sales rebounds as delayed purchasers re-enter the market.
What This Means for You:
- Buyers gain leverage: With 9.3% more listings than the decade average and softening prices, negotiate aggressively—especially on properties lingering beyond 30 days.
- Sellers must strategize: Price 2-3% below recent comparables to stand out; consider pre-listing renovations to offset extended market times.
- Watch interest rate signals: The Bank of Canada’s next policy announcement could trigger sudden demand shifts—lock pre-approvals now.
- Regional divergence warning: While Vancouver cools, suburbs like Surrey see steadier demand—research micro-markets before transacting.
Original Post:
Residential sales in the region totalled 2,228 last month, an 18.5% drop from the same month a year earlier, Greater Vancouver Realtors said. Sales levels are 30.5% below the 10-year seasonal average.
“While there are emerging signs that sales activity might be turning a corner, sales in May were below the 10-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, the board’s director of economics and data analytics.
There were 6,620 newly listed properties on the market in May, a 3.9% increase from May 2024, but still 9.3% above the 10-year seasonal average for the month.
Economic uncertainty and threats to global trade has soured consumer confidence in recent months, with many potential buyers holding back on major financial decisions — pushing up the average time a property spends on the market before it’s sold.
The report showed average days a property was on the market rose across all categories in May. A detached home spent an average of 32 days on the market last month, compared with 26 days in the same month last year, for example.
Total active listings rose 25.7% year-over-year to 17,094.
Lis said these have been some of the healthiest levels of inventory the market has seen in years, making it more favourable for buyers.
“Many sellers are adjusting price expectations, which has provided buyers more negotiating room and kept a firm lid on price escalation over the past few months,” he said in a release.
The composite benchmark price in May was $1,177,100, down 2.9% from a year earlier and 0.6% lower than April.
Lis added sales could pick up in the summer months.
“From a seasonal perspective, sales in the summer months are typically quieter than the spring, but with such an unusually slow spring, we may have an unusually busy summer with so many having delayed their purchasing decisions,” he said.
This report by The Canadian Press was first published June 3, 2025.
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Last modified: June 3, 2025
Extra Information:
Related Resources:
• Bank of Canada Monetary Policy Report – Explains interest rate pressures affecting buyer affordability
• CREA National Housing Stats – Contextualizes Vancouver’s slowdown within national trends
• CMHC Housing Observer – Analyzes inventory buildup’s impact on price corrections
People Also Ask About:
- Will Vancouver home prices drop further? Short-term dips likely, but land scarcity limits prolonged declines in prime neighborhoods.
- How does Vancouver compare to Toronto’s market? Toronto shows greater price resilience due to stronger immigration-driven demand.
- Are condos or detached homes better investments now? Condos face oversupply risks; detached properties in walkable areas hold long-term value.
- When should first-time buyers enter the market? Target September-October when motivated sellers may accept sharper offers.
- What’s driving the economic uncertainty? Combination of global trade tensions and domestic inflation volatility.
Expert Opinion:
“This inventory surge represents a critical rebalancing after years of extreme seller advantage,” notes UBC Sauder School of Business real estate professor Tsur Somerville. “However, Vancouver’s fundamental supply-demand imbalance—with 50,000+ annual newcomers chasing
Key Terms:
- Vancouver real estate market forecast 2025-2026
- Best time to buy property in Greater Vancouver
- Detached home price trends Vancouver Westside
- Impact of global trade wars on BC housing
- Negotiation strategies for buyers in slow markets
- Vancouver condo inventory surplus analysis
- Interest rate effects on luxury home sales
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