Sales improved in one of Canada's traditionally hot markets, but activity remains well below historical averages
Vancouver-area home sales ticked up 2.9% in August compared to last year, according to Greater Vancouver Realtors. The region recorded 1,959 sales last month, slightly above August 2024’s 1,904, but still 19.2% below the 10-year seasonal average.
“Sales in the detached and attached home markets are up by more than 10% from last year, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way,” said Andrew Lis, director of economics and data analytics at Greater Vancouver Realtors.
More listings and softer prices
The market saw 4,225 newly listed properties in August, a 2.8% increase year over year. Total active listings reached 16,242, up 17.6% from last year. The composite benchmark price for all home types stood at $1,150,400, down 3.8% from August 2024 and 1.3% lower than July 2025.
The Greater Vancouver Realtors board covers a wide area, including Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, the Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Fraser Valley sees sharper slowdown
In contrast, the Fraser Valley Real Estate Board (FVREB) reported a slowdown. August sales dropped to 931 transactions, down 22% from July and 13% from a year earlier. That figure was 36% below the region’s 10-year average.
Inventory in the Fraser Valley held steady at just over 10,400 active listings, offering buyers more choice and time to make decisions. Newly listed homes declined 19% from July but edged up slightly year-over-year. On average, condos took 41 days to sell, single-family homes 38 days, and townhomes 32 days.
“Current market conditions are allowing buyers the opportunity to make bold offers, especially for properties that have been on the market for a while and where sellers may be more motivated,” said FVREB chair Tore Jacobsen.
“As in all transactions, timing is everything and we expect to see more buyers come off the sidelines heading into fall to take advantage of the lower price floor.”
The FVREB covers Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.
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