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Greater Vancouver real estate agents said residential sales in the area totaled 2,181 last month, down from 2,418 sales in June 2024 and about 25% below the 10-year seasonal average.
Andrew Lis, director of economics and data analysis at the board, noted that year-on-year sales fell about half of the decline in May. April in Greater Vancouver also fell 23.6% because of the cautiousness of the Canadian-U.S. trade war due to its economic uncertainty.
“Trend-wise, there are signs that sales activity is turning the corner after the first half of the year is challenging,” LIS said in a press release.
“If this momentum continues, sales may rise year-on-year in the near future, which will mark a shift to markets where demand exceeds our unusually low demand so far this year.”
In June, there were 6,315 newly listed properties on the market, up 10.3% from last year and 12.7% higher than the seasonal average for the 10-year period this month.
The positive list of positives rose 23.8% year-on-year to 17,561, almost 44% higher than the usual June level.
Mortgage rates have dropped by about 2% since last summer, and Less said buyers “have enjoyed the most favorable conditions in years.”
“As home sales regain their foothold, inventory levels are not built as quickly as we have seen recently,” Less said. “Most market segments are still in a balanced market situation, with prices generally trending sideways since the beginning of the year.”
The comprehensive benchmark price for June was $1,173,100, down 2.8% from the same period last year and 0.3% lower than May.
The biggest drop in sales in the housing category last month was apartments, down 16.5% year-on-year to 1,040. Sales activity for detached houses decreased by 5.3% to 657, while sales of affiliated houses were 473, an increase of 3.7% from June 2024.
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Last modified: July 3, 2025
