A Market in Transition: More Choice, More Opportunity

The Lower Mainland housing market is continuing to shift in 2025. After years of rapid increases, market activity has softened, giving buyers more leverage and presenting strategic opportunities for both buyers and sellers.

Key Market Stats — Metro Vancouver (2025)

Recent data from the Real Estate Board of Greater Vancouver shows the overall benchmark price for all residential properties in the region is around $1,132,500 as of October 2025, about 3.4% lower year-over-year. Inventory remains elevated, with nearly 16,400 active listings, roughly 36% above the 10-year average.

Here’s a breakdown of typical segment prices and trends later in the year:

🔹 Detached Homes — Benchmark: approx. $1.916M (down ~4.3% YoY)
🔹 Townhomes — Benchmark: approx. $1.066M (down ~3.8% YoY)
🔹 Apartment/Condo — Benchmark: approx. $718.9K (down ~5.1% YoY)
Sales volumes are also softer compared to 2024, with all major property types showing lower sales activity in late 2025

📈 Listings & Buyer Power

Inventory remains significantly higher than seasonal norms — with homes on the market about 35–45% above historical averages in many months this year. This increase in choice combined with slower sales has created a buyers’ market in most property segments

In parts of the Fraser Valley, there are over 8,000 active listings, roughly 45% more than last year, and the overall sales-to-active listings ratio remains below balanced levels — a classic signal of buyer leverage. GlobeNewswire

🏠 Price Trends & Activity

While overall prices have softened slightly in 2025:

• Prices are not collapsing, but rather stabilizing with moderate declines in key segments — especially condos and townhomes.

• The detached market still holds significant value, but shows longer days on market and softer buyer urgency.

This shift reflects broader market dynamics where buyers have more time to shop and negotiate without the pressure of past bidding-war conditions.

🏘️ Segment Insights

Detached Homes

• Detached pricing remains strong relative to historical norms but is experiencing modest downward pressure as inventory grows and buyer demand softens.

Townhomes

• Townhomes are showing a more balanced outlook. They continue to appeal to families and move-up buyers thanks to space and value, even as inventory rises.

Condos

• Condo pricing has softened more noticeably year-over-year — with benchmark prices trending lower than this time last year. Both new and resale condo markets are showing elevated supply, giving buyers more choice and time to compare options.

🧠 What’s Driving These Trends?

Several forces continue to shape the 2025 Lower Mainland market:

✅ Elevated Inventory Levels — More homes for sale means buyers have leverage and less competition. Chia Chia
✅ Softening Sales Activity — Sales figures remain below 2024 and below long-term averages, indicating buyer caution.
✅ Economic Considerations — Broader economic headwinds and changing mortgage dynamics are contributing to slower buyer urgency. CityNews Vancouver

📆 Looking Forward to 2026

Market observers expect continuing balance or slight tightening in 2026, particularly if economic confidence improves and mortgage rates remain stable. Many analysts believe this period presents a window of opportunity for prepared buyers, especially in segments where inventory remains high and pricing has eased. CityNews Vancouver

💡 What This Means for You

For Buyers:

• More inventory means choices and negotiation power.

• Condo and townhouse buyers can benefit from softer prices and higher supply.

• Detached buyers still face strong values, but patience pays.

For Sellers:

• Pricing strategically is essential; well-priced homes are still selling, but expectations must align with the current market.

• Homes with strong positioning and condition continue to attract motivated buyers.

Final Takeaway

The Lower Mainland real estate market in late 2025 is no longer dominated by frenzied competition. Instead, we’re seeing a steady, more balanced environment — elevated inventory, modest price adjustments, and greater choice for buyers. Whether you’re buying your first home, upgrading, downsizing, or investing, this is a market where preparation and local expertise can make a meaningful difference.