In December 2025, home sales in Greater Vancouver experienced a significant decline, dropping 12.9 per cent year-over-year. This downturn marked the culmination of a year that recorded the lowest annual sales total in over 20 years for the region.

According to Greater Vancouver Realtors, 1,537 homes were sold last month, which is notably 20.7 per cent below the 10-year seasonal average for December. The composite benchmark price for all residential properties at the end of 2025 was $1,114,800, reflecting a 4.5 per cent decrease compared to December 2024 and a 0.8 per cent decrease from November 2025.

Andrew Lis, the board's chief economist and vice-president of data analytics, referred to 2025 as a year “for the history books.” He highlighted that total residential sales fell by 10.4 per cent when compared to 2024, and by 9.3 per cent compared to 2023. The overall sales total for last year was recorded at 23,800, which represents a staggering 25 per cent drop below the region's 10-year annual sales average.

Despite the decreased sales figures, Lis noted that realtors in the region were actively listing properties. The year 2025 saw the highest total of listings brought to market since the mid-1990s, surpassing the previous record established in 2008 by over 1,000 listings. More than 65,000 properties were listed throughout the year, indicating an 8.2 per cent increase from 2024 and a remarkable 28.4 per cent rise compared to 2023 levels.

Furthermore, the total number of properties listed in 2025 exceeded the region's 10-year total annual average by 13.1 per cent. Currently, there are 12,550 homes listed for sale in Metro Vancouver, which reflects a 14.6 per cent increase compared to December 2024 and a striking 34.8 per cent above the 10-year seasonal average.

In December alone, 1,849 new detached, attached, or apartment properties were listed in the region, representing a 10.3 per cent increase over the same month the previous year. With the decline in sales and surplus inventory, prices across all property types have experienced a downturn since the beginning of 2025.

Specifically, the benchmark price for a detached home in December was recorded at $1,879,800, showing a decrease of 5.3 per cent from the previous year and a 1.1 per cent drop from November 2025. Condo prices also saw a 5.3 per cent year-over-year decrease, settling at $710,000, which is 0.6 per cent lower than the previous month. Additionally, the benchmark price for a townhouse was reported at $1,056,600, which is five per cent lower than December 2024 and 0.8 per cent down from November 2025.

Lis pointed out that borrowing costs had fallen nearly one full percentage point throughout 2025. With the combination of lower prices, decreased borrowing costs, and ample inventory available, homebuyers entering the market in 2026 are met with more favorable conditions. However, Lis emphasized that whether these beneficial circumstances will lead to stronger demand in the market remains uncertain, indicating that the situation will be closely monitored as it develops.