By Sammy Hudes

Greater Vancouver Realtors said residential sales in the region totalled 2,181 last month, down from the 2,418 sales recorded in June 2024 and roughly 25% below the 10-year seasonal average.

The board’s director of economics and data analytics Andrew Lis noted the year-over-year sales drop was roughly half of the decline seen in May. The Greater Vancouver Area also recorded a 23.6% decrease in April as buyers proceeded with caution amid the Canada-U.S. trade war, due to its associated economic uncertainty.

“On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year,” said Lis in a press release.

“If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year.” 

There were 6,315 newly listed properties on the market in June, a 10.3% increase from last year and 12.7% above the 10-year seasonal average for the month.

Total active listings rose 23.8% year-over-year to 17,561 — almost 44% above usual levels for June.

With mortgage rates down around two per cent since last summer, Lis said buyers “are enjoying some of the most favourable conditions seen in years.”

“As home sales regain their footing, inventory levels aren’t building as quickly as we’ve seen lately,” Lis said. “Most market segments remain in balanced market conditions, which has generally kept prices trending sideways since the start of the year.”

The composite benchmark price in June was $1,173,100, down 2.8% from a year earlier and 0.3% lower than May.

The steepest sales decline by housing category last month was in apartments, down 16.5% year-over-year to 1,040. Sales activity for detached homes decreased 5.3% to 657, while attached home sales totalled 473, a 3.7% increase compared with June 2024.

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Last modified: July 3, 2025