June Market Update

Metro Vancouver Market Update – Why Now Might Be a Great Time to Buy

If you’ve been thinking about buying a home in Metro Vancouver but are still on the fence, you’re not alone. Many buyers remain cautious as inventory builds, giving you more choices and potential bargaining power in today’s market.

More Homes on the Market Than We've Seen in Years

In May 2025, the number of homes for sale across Metro Vancouver hit a 10-year high. Over 6,600 new properties were listed last month, pushing total inventory to over 17,000 homes — nearly 26% more than we saw this time last year. This increase in inventory means buyers now have more options and more time to make thoughtful decisions.

Sales Slower Than Usual — But That Could Change

While there are signs the market may be turning a corner, home sales are still lagging. Just over 2,200 homes sold in May — that’s down 18.5% compared to May 2024 and about 30% below the 10-year average for this time of year.

So why is this important for buyers? Slower sales combined with higher inventory generally create a buyer’s market — more supply, less competition, and better chances to negotiate on price.

Prices Are Holding Steady — Or Even Dipping Slightly

Home prices have started to soften. The benchmark price (which reflects the typical home value) for all residential properties is now $1,177,100 — down 2.9% from last year and 0.6% from last month.

Here’s how that breaks down by property type:

• Detached homes: $1,997,400 (↓ 3.2% from last year)

• Townhomes: $1,106,800 (↓ 3.4% from last year)

• Condos/Apartments: $757,300 (↓ 2.4% from last year)

What the Experts Are Saying

According to Greater Vancouver REALTORS® economist Andrew Lis, many sellers are adjusting their expectations and pricing more competitively. This has helped keep prices in check and given buyers more room to negotiate.

He also notes that while spring was slower than usual, summer could surprise us. If many buyers delayed their decisions earlier this year, we may see a flurry of activity in the coming months.

What This Means for You

If you’ve been waiting for the right time to buy, this summer might offer a rare window of opportunity:

• More listings = more choice

• Slower sales = less competition

• Flat or dipping prices = more negotiating power

Every buyer's situation is different, and market conditions can shift quickly. If you’re thinking about making a move — whether it’s your first home or your next one — now is a great time to explore your options and talk through what makes the most sense for you.

Have questions or want to explore the current market? I’m here to help guide you every step of the way. 🏡