VANCOUVER – In July, home sales in British Columbia experienced a year-over-year increase, although year-to-date figures indicate that overall transactions are still declining when compared to the previous year. According to the British Columbia Real Estate Association, approximately 7,000 residential unit sales were recorded in the province last month, marking a 2.2 percent rise from July 2024.
During the first seven months of 2025, just under 43,000 homes were sold across British Columbia, which reflects a 5.7 percent decrease from the same period in 2024. Despite the monthly uptick in sales, the annual decline suggests that the housing market is still facing challenges.
Brendon Ogmundson, the chief economist for the association, stated that the data indicates an upward momentum in the provincial housing markets as the summer progresses. He noted improvements in sales activity across almost all regions, with the notable exception of the Lower Mainland. This region has historically been a significant contributor to overall sales but currently appears to be lagging behind.
Ogmundson expressed optimism regarding the future of the housing market, anticipating continued improvement as uncertainties related to tariffs begin to resolve. This sentiment is bolstered by the recent growth in sales numbers, which suggests a potential rebound in the market.
Additionally, the average residential unit price in July saw a slight decline of 2.1 percent, settling at $942,686. Meanwhile, the total sales dollar volume remained steady at $6.7 billion, indicating that while the number of transactions may be fluctuating, the aggregate value of sales is holding firm.
The data presents a mixed picture of the British Columbia housing market. While July's figures show a positive shift in home sales compared to the previous year, the overall decline in year-to-date sales underscores ongoing market challenges. Analysts will be monitoring these trends closely as they assess the potential for future growth in the sector.
This update on the British Columbia real estate market provides a snapshot of the current conditions and highlights the various factors influencing sales activity across the province.
