Market Update December 2025

December Snapshot

Metro Vancouver’s housing market ended 2025 on a softer footing. Residential sales in December totalled 1,537—down 12.9% year over year and 20.7% below the ten‑year seasonal average (GVR December 2025). Active listings finished the month at 12,550, up 14.6% from last year’s level (GVR December 2025). Against this backdrop, the composite benchmark price eased to $1,114,800, 4.5% lower than December 2024 and 0.8% lower than November (GVR December 2025). Buyers headed into 2026 with more inventory to choose from and slightly better affordability conditions.

Sales & Listings Momentum

December sales landed at 1,537 transactions, compared with 1,765 one year ago (GVR December 2025). New listings reached 1,849, a 10.3% year‑over‑year increase and above the ten‑year seasonal norm (GVR December 2025). The sales tally was below average for the month, reinforcing that many buyers stayed cautious into the holidays while sellers continued to bring product to market.

By segment, detached sales counted 431, apartments 791, and townhomes 303 (GVR December 2025). The distribution skewed toward apartments, consistent with 2025’s affordability theme. Even so, participation slowed across property types relative to December 2024.

Price Trends

The MLS® Home Price Index composite benchmark settled at $1,114,800—down 4.5% from December 2024 and 0.8% month over month (GVR December 2025). Detached homes benchmarked at $1,879,800, a 5.3% year‑over‑year decline and 1.1% lower than November (GVR December 2025). Townhomes registered a $1,056,600 benchmark (‑5.0% y/y; ‑0.8% m/m) while apartments were at $710,000 (‑5.3% y/y; ‑0.6% m/m) (GVR December 2025). Price adjustments were broad‑based but modest in scale, reflecting a market working through elevated supply rather than a rapid repricing.

Supply–Demand Balance

December’s sales‑to‑active listings ratio printed 12.7% overall, with detached at 9.3%, townhomes at 14.6%, and apartments at 15.1% (GVR December 2025). Historical thresholds suggest persistent readings below roughly 12% are associated with downward price pressure, while sustained readings above 20% often coincide with price gains (GVR December 2025). Detached remains the loosest segment; strata product sits closer to a balanced range.

Policy Watch

GVR notes that borrowing costs fell by nearly one percentage point through late‑2025, easing some financial strain on households (GVR December 2025). Inventory is also “plentiful,” with the month‑end total 34.8% above the ten‑year seasonal average (GVR December 2025). Entering 2026, these two forces—lower rates and higher selection—form a supportive backdrop for qualified buyers, even as macro risks remain.

Why It Matters

• More selection: Active listings closed December at 12,550 (up 14.6% y/y), increasing buyer choice and bargaining power (GVR December 2025).
• Softer pricing: The composite benchmark of $1,114,800 (‑4.5% y/y) implies modestly lower entry points versus late‑2024 (GVR December 2025).
• Segment dynamics: Apartments led activity with 791 sales, while detached remained the softest on a ratio basis (GVR December 2025).
• Rate relief: Borrowing costs eased by nearly one percentage point late‑year, improving qualification for some buyers (GVR December 2025).

REBGV December 2025 Metrics

• Detached: 431 sales; benchmark $1,879,800 (‑5.3% y/y; ‑1.1% m/m) (GVR December 2025).
• Townhome: 303 sales; benchmark $1,056,600 (‑5.0% y/y; ‑0.8% m/m) (GVR December 2025).
• Apartment: 791 sales; benchmark $710,000 (‑5.3% y/y; ‑0.6% m/m) (GVR December 2025).
• Total: 1,537 sales; 1,849 new listings; 12,550 active listings; sales‑to‑active ratio 12.7% (GVR December 2025).

This article is for informational purposes only. Statistics and market conditions are current as of the publication date and may change without notice. It is not legal or financial advice. Always verify details and consult qualified professionals before making real‑estate decisions.