After a turbulent first half of the year, home sales registered on the MLS® across Metro Vancouver are showing emerging signs of a recovery, down 10% year-over-year – halving the decline seen last month.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in June 2025, a 9.8% decrease from the 2,418 sales recorded in June 2024. This was 25.8% below the 10-year seasonal average (2,940).

“On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year, with the year-over-year decline in sales in June halving the decline we saw in May,” said Andrew Lis, GVR’s director of economics and data analytics. “If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year.”

There were 6,315 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2025. This represents a 10.3% increase compared to the 5,723 properties listed in June 2024. This was 12.7% above the 10-year seasonal average (5,604).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,561, a 23.8% increase compared to June 2024 (14,182). This is 43.7% above the 10-year seasonal average (12,223).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2025 is 12.8%. By property type, the ratio is 9.9% for detached homes, 16.9% for attached, and 13.9% for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.

“As home sales regain their footing, inventory levels aren’t building as quickly as we’ve seen lately,” Lis said. “Most market segments remain in balanced market conditions, which has generally kept prices trending sideways since the start of the year. With over 17,000 listings on the market right now, and with mortgage rates down around 2% since last summer, buyers are enjoying some of the most favorable conditions seen in years.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,100. This represents a 2.8% decrease over June 2024 and a 0.3% decrease compared to May 2025.

Sales of detached homes in June 2025 reached 657, a 5.3% decrease from the 694 detached sales recorded in June 2024. The benchmark price for a detached home is $1,994,500. This represents a 3.2% decrease from June 2024 and a 0.1% decrease compared to May 2025.

Sales of apartment homes reached 1,040 in June 2025, a 16.5% decrease compared to the 1,245 sales in June 2024. The benchmark price of an apartment home is $748,400. This represents a 3.2% decrease from June 2024 and a 1.2% decrease compared to May 2025.

Attached home sales in June 2025 totalled 473, a 3.7% increase compared to the 456 sales in June 2024. The benchmark price of a townhouse is $1,103,900. This represents a 3% decrease from June 2024 and a 0.3% decrease compared to May 2025.

Click here to view GVR’s June 2025 housing market report.

Home Sale Trend Stabilizing in June by GVR