This page has been updated with data released in August 2025 for the July 2025 period.
Vancouver market stats
These are the market highlights for Vancouver’s real estate market.
| Property Type | Active Listings | Sales | Benchmark Price | DOM |
|---|---|---|---|---|
| Detached | 6,483 | 660 | $1,974,400 | 42 |
| Townhouse | 2,755 | 459 | $1,099,200 | 30 |
| Apartment | 7,263 | 1,158 | $743,700 | 35 |
The overall residential composite home price in Vancouver was $1,099,200 for the Greater Vancouver Area (GVA). This is a 2.3% year-over-year decrease from July 2024 and a 0.40% decrease when compared to June 2025.
Key Takeaways:
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Market is Stabilizing with a Slow Recovery: Sales activity is showing signs of recovery, down only 2% from last year. However, demand is still soft, with sales remaining nearly 14% below the 10-year average for July.
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High Inventory Gives Buyers the Advantage: The total number of homes for sale is up almost 20% from last year and is a significant 40% above the 10-year average. This high inventory provides buyers with plenty of selection and more bargaining power.
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Prices are Trending Sideways and Slightly Down: With high supply and moderate demand, prices are not increasing. The overall benchmark price is down 2.7% from last year and also dipped slightly (0.7%) compared to last month.
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A Balanced Market, Leaning in Favour of Buyers: The sales-to-active listings ratio is 13.8%, which signals a balanced market. This environment prevents strong price growth and means homes are taking longer to sell (e.g., detached homes average 42 days on the market).
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Townhouses are the Outlier: While sales for detached homes and apartments were down slightly, the townhouse market showed strength with a 5% increase in sales compared to last year, making it the most active segment of the market.
Home price across the Greater Vancouver Area (GVA)
This table shows the benchmark home price in the Greater Vancouver Area (GVA) for Detached, Row & Townhouse, Semi-Detached, Apartments and Composite (total across all home types) by each area in Vancouver.
| Area | Composite | Detached | Townhouse | Apartment |
|---|---|---|---|---|
| Lower Mainland | $1,090,700 | $1,757,100 | $963,300 | $688,600 |
| Greater Vancouver | $1,165,300 | $1,974,400 | $1,099,200 | $743,700 |
| Bowen Island | $1,381,600 | $1,383,200 | $N/A | $N/A |
| Burnaby East | $1,104,100 | $1,954,000 | $904,800 | $765,600 |
| Burnaby North | $972,500 | $2,130,000 | $936,600 | $718,400 |
| Burnaby South | $1,093,700 | $2,167,200 | $1,074,500 | $808,700 |
| Coquitlam | $1,059,300 | $1,737,100 | $1,093,900 | $705,400 |
| Ladner | $1,149,600 | $1,417,800 | $1,017,700 | $672,000 |
| Maple Ridge | $957,800 | $1,266,000 | $773,100 | $504,100 |
| New Westminster | $801,500 | $1,582,900 | $918,400 | $631,800 |
| North Vancouver | $1,371,000 | $2,197,500 | $1,314,500 | $819,500 |
| Pitt Meadows | $907,500 | $1,250,500 | $823,900 | $579,700 |
| Port Coquitlam | $932,800 | $1,359,500 | $945,200 | $623,200 |
| Port Moody | $1,088,900 | $2,083,000 | $1,040,500 | $731,900 |
| Richmond | $1,115,200 | $2,087,000 | $1,093,800 | $709,800 |
| Squamish | $1,141,400 | $1,690,400 | $1,037,500 | $628,500 |
| Sunshine Coast | $830,600 | $885,100 | $752,600 | $503,800 |
| Tsawwassen | $1,161,800 | $1,535,800 | $962,100 | $651,600 |
| Vancouver East | $1,199,100 | $1,794,500 | $1,117,900 | $679,000 |
| Vancouver West | $1,306,400 | $3,311,800 | $1,417,400 | $820,200 |
| West Vancouver | $2,510,900 | $3,195,500 | $N/A | $1,300,500 |
| Whistler | $1,385,600 | $2,550,100 | $1,663,800 | $675,400 |
How much income would it take to afford a home in Vancouver?
What if you wanted to purchase the typical/benchmark home in Vancouver? This table shows the income needed to afford a home based on the residental/composite benchmark home price in Vancouver:
| Area | Home Price | Income |
|---|---|---|
| Composite | $1,165,300 | $286,589 |
| Detached | $1,974,400 | $468,122 |
| Townhouse | $1,099,200 | $271,759 |
| Apartment | $743,700 | $191,998 |
For the calculation of income to afford a home in Vancouver we used the following as inputs:
- Down payment of 20% to avoid mortgage default insurance
- Mortgage rate of 3.99%
- Amortization period of 25 years
- Gross debt service (GDS) ratio of 32%
- Property tax of $354 per month ($4250 per year)
- Heating costs of $150 per month ($1800 per year)
Key trends in the Vancouver housing market
Foreign buyer tax and speculation taxes
British Columbia has implemented some of Canada’s most aggressive measures to cool housing demand:
- Foreign Buyer Tax (20%) — Known as the Additional Property Transfer Tax, this applies to foreign nationals and foreign-controlled corporations purchasing residential property in specified areas including Metro Vancouver. At 20%, it adds a substantial cost to foreign purchases.
- Speculation and Vacancy Tax — The provincial speculation and vacancy tax targets property owners who do not pay income tax in BC. Rates range from 0.5% to 2% of the property’s assessed value depending on the owner’s tax status and residency.
- Empty Homes Tax (Vancouver) — The City of Vancouver charges an additional annual tax on properties declared empty. The current rate is 5% of the assessed value, one of the highest vacancy taxes in North America.
These policies have been credited with reducing foreign investment in the market, though their overall impact on affordability remains debated.
Zoning reform
Recent provincial legislation has mandated zoning changes across BC municipalities, allowing up to four units on previously single-family lots in cities with populations over 5,000 and up to six units near transit stations. These reforms aim to increase housing density and supply over the coming decade.
Market outlook
Vancouver’s market is in a period of adjustment. High inventory, moderate demand, and the cumulative effect of multiple tax policies have shifted conditions in favour of buyers. However, Vancouver’s structural constraints — limited buildable land between the mountains, ocean, and Agricultural Land Reserve — provide a long-term floor for prices.
Notable areas in Metro Vancouver
Metro Vancouver encompasses a wide range of communities with varying price levels:
- Vancouver West — The most expensive area in the region, with detached homes averaging over $3.3 million. Includes neighbourhoods like Kitsilano, Point Grey, Kerrisdale, and Dunbar.
- Vancouver East — More affordable than the west side but still expensive by national standards. Detached homes average around $1.8 million. Includes Commercial Drive, East Van, and Mount Pleasant.
- Burnaby — A popular middle ground with good transit access (SkyTrain). Three sub-areas (North, South, East) with apartment prices ranging from $718,000 to $809,000.
- Surrey — The fastest-growing city in Metro Vancouver and among the more affordable options. Detached homes are significantly less than Vancouver proper.
- Richmond — Known for a large Asian-Canadian community and strong amenities. Detached homes average around $2.1 million.
- North Vancouver — Premium pricing for mountain and waterfront proximity. Detached homes average $2.2 million.
- Langley and Maple Ridge — Outer suburban communities offering more affordable detached homes under $1.3 million, popular with families.
BC Property Transfer Tax
British Columbia’s property transfer tax is a significant closing cost for buyers. The tax is calculated on a tiered structure based on the property’s fair market value:
| Fair Market Value | Rate |
|---|---|
| First $200,000 | 1% |
| $200,001 to $2,000,000 | 2% |
| $2,000,001 to $3,000,000 | 3% |
| Over $3,000,000 | 5% |
On a home purchased at Vancouver’s composite benchmark price of $1,165,300, the property transfer tax would be approximately $21,306.
First-time buyer exemptions in BC
BC offers significant property transfer tax relief for first-time buyers:
- Full exemption on properties valued up to $500,000
- Partial exemption on properties valued between $500,000 and $525,000
- Newly built home exemption — Full exemption up to $750,000; partial exemption between $750,000 and $800,000
Given Metro Vancouver’s high prices, many first-time buyers will not qualify for the full exemption unless purchasing a condo or a home in a more affordable sub-market. Our land transfer tax calculator can help you estimate the property transfer tax for your specific purchase price.
Related Vancouver housing calculators
If you are buying a home in Metro Vancouver, these tools can help you plan:
- Mortgage Calculator — Estimate your monthly mortgage payments
- Mortgage Affordability Calculator — Determine how much home you can afford
- Income to Afford Home Calculator — Find the salary needed at Vancouver price levels
- Mortgage Insurance Calculator — CMHC premium estimates for down payments under 20%
- Land Transfer Tax Calculator — Calculate BC property transfer tax
- Closing Costs Calculator — Estimate total costs beyond the purchase price
- Mortgage Stress Test Calculator — Verify qualification under the stress test
- Mortgage Rates — Current mortgage rates in British Columbia
Real estate data for Vancouver is released and updated by the Real Estate Board of Greater Vancouver (REBGV).