Metro Vancouver Real Estate: A Quiet, Buyer-Friendly Finish to 2025
Metro Vancouver’s housing market continued its cooler pace in November 2025, with 1,846 homes sold across the region. That’s down 15.4% from November 2024 and about 20% below the 10-year seasonal average. Many buyers remain on the sidelines, watching and waiting, while sellers are adjusting to conditions that look very different from the boom years. As GVR’s chief economist notes, deals are happening when both sides line up their expectations with today’s reality—not yesterday’s market.On the supply side, inventory remains strong. There were 3,674 new listings in November, roughly in line with last year and slightly above the 10-year average, bringing the total number of homes for sale to 15,149. That’s a 14.4% jump from last year and more than 36% above the long-term seasonal average, giving buyers more choice and leverage. The sales-to-active listings ratio sits at 12.6% overall (9.7% for detached homes, 13.6% for townhomes, and 14.8% for condos), hovering around the range where we typically see mild downward pressure on prices rather than rapid increases.Prices have responded accordingly, softening modestly across most segments. The overall benchmark price for a home in Metro Vancouver is now $1,123,700, down 3.9% from November 2024 and 0.3% from October 2025. Detached homes sit at a benchmark of $1,900,600 (down 4.3% year-over-year), condos at $714,300 (down 5.2%), and townhomes at $1,065,600 (down 4.4%). With borrowing costs expected to stay relatively steady and December usually being one of the quietest months of the year, the current environment favors patient buyers and motivated sellers who are willing to price in line with today’s more balanced—and sometimes softer—market.