British Columbia Real Estate Market Report – July 2025
- Startritehomes.com
- Jul 20
- 4 min read
Updated: Jul 26
As of July 20, 2025, the British Columbia real estate market is showing signs of cooling across much of the province. Rising inventory, subdued sales, and flat-to-declining prices are shifting many urban and suburban markets toward buyer-friendly conditions. Government housing mandates, tax policy changes, and affordability challenges continue to shape demand.
Key Province-Wide Stats (June 2025)
Metric | Value | Year-over-Year Trend |
Home Sales | 7,422 units | –8.2% (below long-term avg) |
Active Listings | ~48,000 | +15.2% (10-year high) |
Sales-to-Listing Ratio | 14.9% | Bottom of balanced market |
Benchmark Price | $953,500 | –1.3% YOY (April 2025 data) |
Broad Trend:
Growing inventory, subdued sales, and flat-to-declining prices are pushing most BC markets into balanced or buyer-friendly territory
Key Market Drivers
🔹 High Interest Rates
Borrowing costs remain elevated, keeping many buyers sidelined and limiting purchasing power.
“We've had interest rates come down lately, which is great for affordability. However, they're falling from a very high level, and I don't think prices ever fully responded to the large increases we saw,” — Thomas Davidoff, Business Professor, UBC
🔹 Anti-Flipping Tax
In effect since January 2025, the BC home-flipping tax aims to curb short-term speculation. Early evidence points to a drop in speculative sales, with increased complexity for some traditional sellers.
“Folks who ... have no intention of creating profit, they lose their job, they have a child, they separate … they are impacted by having to remit, they’re having to hire accountants and lawyers to navigate the complexity of a new tax. It becomes a burden.”— Trevor Koot, CEO, BC Real Estate Association
🔹 Housing Supply Mandates
BC’s ten largest municipalities are required to add 60,000 new homes over five years, emphasizing affordable and multi-unit housing.
Provincial and local policy shifts are accelerating new supply, especially in suburbs and areas with cheaper land, to moderate long-term prices
🔹 U.S. Tariff Uncertainty
Trade tensions with the U.S. are dampening economic activity, particularly in development and construction sectors.
“That really has the possibility to upend all of the optimism everyone's currently feeling. If we were going to see [a 25% tariff], obviously that's going to slow down our economy considerably.”— Brendon Ogmundson, Chief Economist, BCREA
City & Large Municipality Summary (June–July 2025)
City/Municipality | Avg. Price | Price Trend | Sales Trend | Inventory Trend | Market Notes |
Vancouver | $1.3M avg. | –2% | –9.8% YOY | +24% YOY | Strong buyer’s market |
Surrey | $1.23M | Flat | Flat | Up | Suburban demand stable |
Burnaby | $1.13M | –2% | Flat | Up | Condos stabilizing |
Richmond | $1.29M | –2% | –7% | Up | Buyer-favoured |
Coquitlam | $1.18M | –1% | –6% | Up | Balanced-leaning buyer’s |
Delta | $1.06M | –1% | Flat | Up | Growth zone for new builds |
Langley (Township) | $1.12M | +1% | Slight up | Up | Moderate strength in multi-family |
Abbotsford | $962K | +2% | –8% | Up | More affordability, lower demand |
Kelowna | $962K | –2.7% MoM | –2.7% MoM | Up | High inventory, cautious buyers |
Kamloops | $720K | Flat | Flat | Up | Balanced market |
Victoria | $1.09M | –2% | –8% | Up | Balanced, with new rentals |
Saanich | $1.04M | –1% | –7% | Up | Government housing target |
Nanaimo | $770K | –1% | Flat | Up | Mostly flat, active listings rise |
Chilliwack | $796K | Flat | +2% | Moderate | Balanced, modest demand |
Maple Ridge | $1.10M | Flat | Flat | Up | Affordability driving activity |
North Vancouver | $1.44M | Slight drop | –5% | Up | Inventory rising |
West Vancouver | $3.13M | –3% | –11% | Up | Luxury market softening |
Mission | $987K | –2% | Flat | Up | Slower price trend |
Port Coquitlam | $1.12M | Flat | Flat | Up | Stable suburban demand |
Port Moody | $1.22M | Flat | –3% | Up | Supply pipeline active |
Prince George | $506K | +2% | +4% | Flat | More stable, outside Lower Mainland dynamics |
Core Market Trends
Transition Toward a Buyer’s Market
Sales down 7–11% YOY in many major cities
Inventory surging across Metro Vancouver and interior regions
Buyer confidence rising, but affordability still a challenge
“On the buyer's side, it means there's a bit more choice in the market... There are enough listings in the market right now to absorb that extra demand without, without prices rising too much.”— Brendon Ogmundson, Chief Economist, BCREA
Prices Flat-to-Declining
Most municipalities show price declines of 1–3%, with slight gains in affordable or growing regions (e.g., Langley, Abbotsford, and Fort St. John). Dawson Creek remains stable without notable gains or losses.
Inventory Surge
Record-high active listings in many centres; province mandates largest cities to build thousands of homes over five years, with a focus on “missing middle” multi-family and below-market rentals.
Policy Impact
Anti-flipping tax reducing speculative transactions
Tariff-related construction delays lowering new home starts
More market activity from serious, long-term buyers
Rental Market Trends
Vacancies are rising modestly, and rent prices may soften in urban cores—though newer supply in the North (Dawson Creek/Fort St. John) is still being absorbed by in-migration and oil/gas workforces.
Rent prices expected to soften in urban cores with new supply hitting the market
Key Drivers of the British Columbia Real Estate Market
Affordability Constraints: High mortgage rates + high home prices = demand suppression
“Affordability remains a pressing issue, especially for first-time buyers. There are talks about changing the property transfer tax… government plans to boost housing supply and support affordability will be very important for the future of the market.”— Vancouver House Finders Market Analysis
Population Growth: In-migration continues, but slower than 2023-2024 peaks, helping support long-term demand amid a cooling market.
Policy Pressure: Governments at all levels actively intervening to stabilize prices and promote sustainable growth.
“Provincial efforts aim to accelerate transit-oriented densification and increase housing stock, particularly missing middle homes... On the demand side, taxes targeting speculation and flipping continue to impact buyer behavior.”— Western Investor Analysis
The British Columbia real estate market in July 2025 is showing clear signs of moderation. With higher inventory, flat or declining prices, and lower sales volumes, most major markets are shifting toward balanced or buyer-favoured conditions. While affordability challenges remain, particularly in Metro Vancouver and Victoria, provincial supply initiatives and policy changes are beginning to reshape the landscape. Suburbs and smaller cities with room for new growth—like Langley, Chilliwack, and Prince George—are proving more resilient.
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