Vancouver Apartment-Condo Sales Fall 2.9%

Vancouver Apartment-Condo Sales Fall 2.9%
News| August 16, 2025| Monte Stewart
Canada + Apartment Buildings

Apartment-condo sales in Metro Vancouver declined 2.9% in July compared to the same month a year earlier, according to the Greater Vancouver Real Estate Board (GVREB).

A total of 1,158 apartment units changed hands, down from 1,192 in July 2024. The benchmark price for an apartment home was $743,700, a 3.2% decrease year-over-year and 0.6% lower than in June.

Overall residential sales in Metro Vancouver reached 2,286 in July, a 2% decline from the 2,333 sales a year earlier and 13.9% below the 10-year seasonal average.

“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend,” said Andrew Lis, GVREB’s director of economics and data analytics. “Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the USA.”

Lis noted that housing inventory has stabilized at about 17,000 listings. “Although sales activity is now recovering, this healthy level of inventory is sufficient to keep home prices trending sideways over the short term as supply and demand remain relatively balanced. However, if the recovery in sales activity accelerates, these favourable conditions for home buyers may begin slowly slipping away, as inventory levels decline, and home sellers gain more bargaining power.”

Detached home sales fell 4.1% year-over-year to 660, while townhouse sales rose 5% to 459. The benchmark prices stood at $1,974,400 for detached homes and $1,099,200 for townhouses, both down from a year earlier.

Pictured: Condominium towers near the Stadium-Chinatown Station in Vancouver.

Photo: CMHC

Other News

One Beverly Hills Reaches Milestones Ahead of Schedule

California & West + Apartment Buildings

The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...

Learn more

Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion

New York & Tri-State + Apartment Buildings

Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...

Learn more

Rental Affordability Declines in Most Metros, but Improved Housing Quality is a Factor

Apartment Buildings

Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up