What’s Really Happening With Vancouver Real Estate Prices? | July 2025 Update

At Vancouver Home Hub, we don’t just look at the numbers — we live here, we walk these streets, and we talk to buyers, sellers, and curious neighbors every day. So, if you’re trying to make sense of Vancouver’s real estate market right now, you’re not alone. Let’s break it down.

The Numbers First — What’s the Market Saying?

According to the latest Real Estate Board of Greater Vancouver (REBGV) report for July 2025, the benchmark price for all residential properties in Metro Vancouver is $1,181,300, a 1.8% increase from last month, and up 5.4% year-over-year.

• Detached homes: $2,117,800 (↑ 2.1% MoM)
  
• Townhomes: $1,138,500 (↑ 1.3% MoM)
  
• Condos: $783,400 (↑ 1.5% MoM)
  

Source: REBGV Monthly Stats – July 2025

 What’s Behind These Numbers?

1. Summer Surge Is Real Again

We’re seeing a seasonal surge in activity — not unexpected, but more pronounced this year. After a slow winter and hesitant spring (thanks to stubborn interest rates), summer buyers have come out more confidently.

That includes:

• Move-up buyers finally trading in their condos for townhomes or detached homes
  
• First-time buyers jumping in as inventory opens up
  
• Investors cautiously returning to the condo market
  

2. Interest Rates May Have Hit a Ceiling

The Bank of Canada held its rate steady again this month at 4.75%, and while another cut isn’t promised, the psychological barrier has lifted. Buyers are now acting under the belief that we’ve seen the peak — even if rates stay high for a while.

BoC Rate Tracker – Bank of Canada

 Local Insight: We’ve spoken to multiple mortgage brokers in Burnaby and Richmond this month — many are seeing a spike in pre-approvals. Buyers are getting ready, even if they’re not pulling the trigger yet.

Neighbourhoods to Watch: Where Prices Are Heating Up

North Burnaby

• Demand has surged, especially around Brentwood and Capitol Hill.
  
• The new SkyTrain extensions and mixed-use developments continue to drive value.
  

East Vancouver

• Still competitive, but more balanced than in 2022.
  
• Young families are flocking to Grandview-Woodland and Hastings Sunrise for character homes under $1.9M.
  

New Westminster

• Townhouses and mid-sized condos are having a moment — still “affordable” by Metro Van standards.
  
• Great walkability and school zones appeal to both new parents and downsizers.
  

Tip from the ground: Open houses in New West last weekend had lineups — not pandemic-style frenzies, but enough to show real momentum.

Is It a Seller’s Market?

The Sales-to-Active Listings Ratio is currently:

• Detached homes: 19.4%
  
• Townhomes: 29.6%
  
• Condos: 25.3%
  

That means:

• Townhomes and condos are firmly in seller’s market territory
  
• Detached homes are more balanced — great for move-up buyers who want more negotiating power
  

Real Talk: Should You Wait or Buy Now?

Let’s be honest — Greater Vancouver isn’t a “cheap” market, and probably never will be. But here’s the mindset shift we’re seeing from savvy buyers:

“I’m not waiting for prices to drop. I’m waiting for the right fit — and if I find it, I’m ready.”

That’s the trend we believe will define the second half of 2025:

• Less “panic buying”
  
• More strategic moves
  
• Buyers with longer-term horizons, not chasing flips
  

If you’re eyeing a specific neighborhood, use this quieter period to get familiar with the streets, building types, and average pricing. The more context you build now, the faster you can act when the right listing shows up.

What Smart Buyers & Sellers Are Doing Right Now

Buyers:

• Getting rate holds now in case cuts don’t happen
  
• Watching stale listings for price drop opportunities
  
• Touring more properties to build pricing instinct
  

Sellers:

• Pricing competitively, not emotionally
  
• Renovating kitchens and bathrooms — these are still top ROI areas
  
• Working with agents who know hyperlocal trends (not just general Vancouver data)
  

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