June  2025 - Vancouver Real Estate Market Update

Hi, it’s June 2025 and here’s what happened in the Vancouver real estate market over the last few weeks.

Home sales are 31% below the 10-year seasonal average, while inventory levels have reached another 10-year high. That means buyers have more options, and more leverage, than we’ve seen in quite some time. If you’ve been waiting for the right moment, this summer might be it.

Prices are softening slightly across the board. Detached home prices have dropped 3% compared to last year, and both townhouses and condos are seeing similar trends. With more inventory and longer days on market, sellers are adjusting their price expectations to attract cautious buyers.

The current benchmark price for all home types across Greater Vancouver is $1,177,100 — a 3% decrease from May 2024 and a 0.6% decrease from April. Of course, pricing varies by neighbourhood, so if you’d like a more specific look at your area, feel free to reach out.

Two major announcements in early June are giving buyers even more reason to get off the sidelines.

On June 5th, the federal government announced a GST exemption for first-time buyers on new homes priced up to $1 million. That’s a potential $50,000 in tax savings — a game changer for anyone entering the market.

And just a day earlier, on June 4th, the Bank of Canada held its policy rate steady at 2.75% for the second straight announcement, adding a layer of stability for anyone considering financing.

In most years, summer tends to bring slower market activity — but with this spring being one of the quietest on record, we might see pent-up demand bring more buyers into the market over the next few months.