🏡 July 2025 Market Update: Balanced Conditions Remain with a Slight Uptick in the ActivityJuly’s real estate numbers confirm what many of us are already sensing on the ground: buyers are cautious, inventory is ample, and price trends continue to soften across much of the province.
🔹 In Greater Vancouver, we’re seeing early signs of a sales recovery take root, with July totals nearly on par with last year, just 2% lower. Townhouse sales even ticked up 5%, suggesting that some segments of the market are regaining their footing. But despite stable interest rates, prices slipped again: detached homes fell 1% month over month to a benchmark of $1.97M, while condos dipped 0.6% to $743K.🔹 In the Fraser Valley, the story is more clearly one of buyer's market conditions. Sales were flat from June and down 3% year over year, sitting well below the 10-year average. Inventory remains elevated, about 50% above the seasonal norm, and the sales-to-active listings ratio is firmly in buyer's market territory at 11%. Sellers are having to adjust: realistic pricing, pre-listing repairs, and solid staging are now must-haves, not nice-to-haves. Benchmark prices slipped again in all categories, with detached homes now averaging $1.45M (down 0.5% from June), townhomes at $815K, and condos at $519K.🔹 Vancouver Island continues to show surprising resilience despite the economic noise from tariffs and broader uncertainties. The VIREB region saw a 10% year-over-year bump in total sales, led by a 16% jump in single-family homes. Prices are holding steady. Single-family benchmarks rose 2% year over year to $800K, while townhomes reached $550K and apartments softened slightly to $405K. Most regions, including Nanaimo and the Comox Valley, posted modest price gains, reminding us that lifestyle-driven markets remain robust even when others slow.💰 Interest Rate Update
At its July 30 meeting, the BoC held the overnight rate at 2.75% for the third consecutive decision. The bank reaffirmed an “easing bias”, emphasizing readiness to reduce rates if economic growth weakens and inflation remains contained. In a recent Reuters poll, 18 of 28 economists expect the interest rate to be reduced by at least 25 basis points (0.25%) in the meeting on September 17th and a further cut before the end of this year.🔍 What This Means for You
Buyers can enjoy greater selection and less competition in most markets — a rare opportunity to act strategically.
Sellers, on the other hand, need sharp pricing strategies and expert advice to stand out in a more crowded market.📊 Explore the full July 2025 stats:• Greater Vancouver Board
• Fraser Valley Board
• Vancouver Island Board
🔹 In Greater Vancouver, we’re seeing early signs of a sales recovery take root, with July totals nearly on par with last year, just 2% lower. Townhouse sales even ticked up 5%, suggesting that some segments of the market are regaining their footing. But despite stable interest rates, prices slipped again: detached homes fell 1% month over month to a benchmark of $1.97M, while condos dipped 0.6% to $743K.🔹 In the Fraser Valley, the story is more clearly one of buyer's market conditions. Sales were flat from June and down 3% year over year, sitting well below the 10-year average. Inventory remains elevated, about 50% above the seasonal norm, and the sales-to-active listings ratio is firmly in buyer's market territory at 11%. Sellers are having to adjust: realistic pricing, pre-listing repairs, and solid staging are now must-haves, not nice-to-haves. Benchmark prices slipped again in all categories, with detached homes now averaging $1.45M (down 0.5% from June), townhomes at $815K, and condos at $519K.🔹 Vancouver Island continues to show surprising resilience despite the economic noise from tariffs and broader uncertainties. The VIREB region saw a 10% year-over-year bump in total sales, led by a 16% jump in single-family homes. Prices are holding steady. Single-family benchmarks rose 2% year over year to $800K, while townhomes reached $550K and apartments softened slightly to $405K. Most regions, including Nanaimo and the Comox Valley, posted modest price gains, reminding us that lifestyle-driven markets remain robust even when others slow.💰 Interest Rate Update
At its July 30 meeting, the BoC held the overnight rate at 2.75% for the third consecutive decision. The bank reaffirmed an “easing bias”, emphasizing readiness to reduce rates if economic growth weakens and inflation remains contained. In a recent Reuters poll, 18 of 28 economists expect the interest rate to be reduced by at least 25 basis points (0.25%) in the meeting on September 17th and a further cut before the end of this year.🔍 What This Means for You
Buyers can enjoy greater selection and less competition in most markets — a rare opportunity to act strategically.
Sellers, on the other hand, need sharp pricing strategies and expert advice to stand out in a more crowded market.📊 Explore the full July 2025 stats:• Greater Vancouver Board
• Fraser Valley Board
• Vancouver Island Board