Vancouver, BC – June 12, 2025. The British Columbia Real Estate Association (BCREA) reports that 6,945 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in May 2025, down 13.5% from May 2024. The average MLS® residential price in BC in May 2025 was down 4.2% at $959,058 compared to $1,001,341 in May 2024.

The total sales dollar volume was $6.7 billion, a 17.1% decrease from the same time the previous year. BC MLS® unit sales were 26% lower than the ten-year May average.

“All regions of BC have seen declining home sales activity through the first five months of the year with more expensive markets slowing the most,” said BCREA Chief Economist Brendon Ogmundson. “Given that uncertainty is the main driver of the slowdown, we should see activity begin to recover as that uncertainty hopefully fades over the second half of the year.”

Year-to-date, BC residential sales dollar volume is down 12.8% to $27.4 billion, compared with the same period in 2024. Residential unit sales are down 9% year-over-year at 28,692 units, while the average MLS® residential price is also down 4.2% to $954,312.

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Uncertainty Continues to Hold Back Sales Activity in BC by Brendon Ogmundson | Chief Economist | BCREA