Stability Returns, but Economic Headwinds Keep Recovery in Check

After months of uneven activity, Metro Vancouver’s real estate market showed signs of stabilization in July. Sales volumes edged higher from spring lows, prices remained broadly steady, and inventory hovered near multi-year highs — giving buyers more selection and leverage than they’ve had in some time.

While balanced conditions are welcome, the broader picture remains cautious. Persistent affordability challenges, weak economic growth, and lingering uncertainty around trade and employment continue to weigh on confidence. The market’s pace is steady, not surging.

1. Market Conditions – Stable, Not Surging

Inventory levels have stabilized near 17,000 listings — high enough to keep prices relatively flat and conditions balanced across most sub-markets. Detached homes sit in buyer’s territory (10.2%), while condos and townhomes hover mid-balance.

📍 Key Takeaway:
The market is measured, not distressed. Buyers have time to act strategically, while sellers must align expectations with current realities.

2. Property Type Breakdown – Balance Across the Board

Detached activity remains subdued, with longer days on market and wider price gaps between buyer and seller expectations. Townhomes continue to show resilience, supported by demand from end-users seeking space and value. Condos remain price-sensitive but steady.

3. Regional Highlights – A Closer Look

Burnaby

• Burnaby East: Detached benchmark $1,954,000 (+4.5% M/M, +0.5% Y/Y) — a rare uptick driven by limited listings.

• Burnaby North: Townhomes rose slightly (+0.7%), while condos fell (-5%) year-over-year.

• Burnaby South: Detached and condo prices slipped (~4%) annually; townhomes remain stable.

New Westminster

• Composite benchmark $801,500 (+0.8% M/M, -2.4% Y/Y).

• Apartment listings surged +41%, creating strong selection for buyers.

• Townhomes saw more stable conditions, while detached sales dipped.

Tri-Cities

• Coquitlam: Townhomes continue to outperform (+0.2% Y/Y) with benchmark $1,093,900.

• Port Coquitlam: Detached and townhomes both stable; “Rindle” by Woodbridge Homes highlighted in pre-sale segment.

• Port Moody: Detached homes soft, but townhomes (42% ratio) and condos show healthy demand.

Vancouver East & West

The west side’s luxury detached market continues to favour buyers, while East Vancouver remains more active at attainable price points.

Other Notable Areas

• North Vancouver: Detached -4.2%; condos holding near even.

• Richmond: Listings up 30%+ across all segments; prices down 4–5%.

• Squamish: Outlier strength — detached homes +11.2% Y/Y, benchmark $1.69M, seller’s market (31%).

• Tsawwassen: Apartments saw one of the largest declines (-7.3% Y/Y).

4. Economic & Policy Backdrop – Calm Rates, Weak Growth

• Bank of Canada Rate Hold: 2.75% (third consecutive).

• GDP: Estimated -1.5% in Q2, following tariff-related export drops.

• Unemployment: 7% — highest in nearly a decade (excl. pandemic).

• Trade Uncertainty: U.S. negotiations and tariffs dampen business confidence.

• DCC Policy Shift: Developers can now defer 75% of Development Cost Charges until occupancy — easing upfront costs and supporting future housing supply.

📉 Insight:
While rate stability offers predictability, soft GDP and job losses continue to suppress momentum. Buyers remain cost-conscious, and sellers are adapting to longer marketing timelines.

5. Pre-Sale Market – Subdued but Adapting

Pre-sale absorption remains far below historical norms, with only 7 new projects (≈600 units) launched in July.

• Absorption Rate: 4% (vs. 27% seasonal average)

• H1 2025 Units Sold: ~400 (85% below typical levels)

• Product Shift: Developers focus on low-density, end-user-friendly projects.

• Common Incentives: 10% deposits, value-add upgrades, and flexible completion schedules.

Example: Rindle by Woodbridge Homes in Port Coquitlam — boutique townhomes catering to families seeking new product without downtown premiums.

6. Fraser Valley Comparison

Conditions mirror Metro Vancouver: elevated inventory, flat pricing, and cautious buyers.

7. Takeaways – A Market Defined by Patience

For Buyers:

• Wide selection, stable prices, and time to negotiate.

• Focus on quality listings and avoid “fear of missing out.”

For Sellers:

• Price accurately and present professionally — buyers have options.

• Staged, well-marketed homes are still selling efficiently.

For Investors:

• Prioritize fundamentals: location, rentability, and long-term positioning.

• Short-term appreciation plays remain limited.

Bottom Line

July 2025 marks a steadying point for Metro Vancouver’s real estate market.
Sales are soft but stable, prices are adjusting gently, and balanced conditions dominate most regions. While a meaningful recovery isn’t yet underway, today’s environment rewards strategic, data-informed decisions over speculation or hesitation.

Thinking about your next move?
Let’s discuss your local market, your property’s position, and your best strategy moving forward. Whether you’re buying, selling, or investing, insight — not urgency — is the advantage in today’s market.

📞 Contact us today for a personalized market review.

Looking for your dream home? This Just Listed Condo in New Westminster offers a perfect blend of modern design and unbeatable location. With top-rated schools, vibrant parks, and easy access to transit and shopping, this unit sets new standards in stylish urban living.

Property Snapshot

Step inside this bright and airy apartment/condo (MLS® R3026972), located in the heart of New Westminster. Every detail reflects contemporary design, from open-concept living spaces bathed in natural light to carefully selected finishes. Imagine sipping your morning coffee on the balcony while enjoying sunset views over the city skyline.

• Property Type: Apartment/Condo

• MLS®: R3026972

• Elementary Catchment: FW Howay Elementary

• Secondary Catchment: Glenbrook Middle School

• Sales-to-Active Ratio: 11.7% – a balanced, stable market

This home is ideal for families, professionals, or investors looking for lifestyle and value in one of Metro Vancouver’s most dynamic cities.

Why New Westminster? Neighborhood Highlights

Parks & Recreation

Enjoy easy access to some of New West’s most beloved outdoor spaces:

• Queen’s Park – 75 acres of greenery, trails, sports courts, and playgrounds

• Tipperary Park – Home to seasonal farmers’ markets, heritage gardens, and picnic spaces

• Albert Crescent & Moody Parks – Ideal for casual strolls, dog walking, and relaxation

Schools & Education

Live in a catchment area known for community and quality education:

• FW Howay Elementary – A welcoming neighborhood school just minutes away

• Glenbrook Middle School – Recognized for strong academic programs and extracurriculars

• Close proximity to New Westminster Secondary School (NWSS), which offers French immersion and IB programs

Shopping, Dining & Convenience

This listing is near top shopping hubs:

• Shops at New West – Groceries, restaurants, and a movie theatre right by the SkyTrain

• Royal City Centre – A central shopping destination with cafes, salons, and services

• River Market at the Quay – Riverside dining and artisan vendors in a historic space

Transit & Connectivity

New Westminster is a commuter's dream:

• 5 SkyTrain Stations within the city

• Fast, direct access to downtown Vancouver in under 30 minutes

• Walkable streets and bike-friendly paths throughout the community

Market Insights: Why It’s a Smart Move

The sales-to-active ratio of 11.7% means buyers can move confidently, while sellers still enjoy strong returns. The market is steady and showing healthy demand.

Long-tail tip: How much does a condo in Burnaby cost? You’ll often find that condos in New Westminster offer comparable features at a more accessible price—making this area a smart choice for value-focused buyers.

Open House – July 20, 2025 | 2:00 PM – 4:00 PM

Come see it in person! This stunning New Westminster condo will be open for viewing on:

📅 Sunday, July 20, 2025
🕑 2:00 PM to 4:00 PM

Don’t miss the chance to walk through the space, explore the neighborhood, and ask questions live on site. Bring your family, your questions—and your checklist!

After a rocky first half of 2025, the Metro Vancouver real estate market is showing early signs of stabilization — with sales activity leveling off, listing inventory reaching decade highs, and prices holding steady in many areas despite elevated supply. For buyers, sellers, and upsizers alike, this is a market that demands thoughtful strategy and local expertise.

Market Snapshot – June 2025

• Sales: 2,181 homes sold in Metro Vancouver in June — down 9.8% year-over-year and 25.8% below the 10-year average.

• New Listings: 6,315 new listings hit the market — up 10.3% year-over-year and 12.7% above the seasonal average.

• Active Listings: Inventory rose to 17,561 properties, marking a 23.8% increase over last year and the highest June level in more than a decade.

• Sales-to-Active Listings Ratio:

  • Detached: 9.9% (buyers’ market)

  • Townhouses: 16.9% (balanced)

  • Apartments: 13.9% (balanced)

• Benchmark Price (Composite): $1,173,100 — down 2.8% year-over-year, and 0.3% from May.

Segment Breakdown

Detached Homes: Sluggish Conditions Persist

Detached home sales remain muted. With just 657 sales in June and over 10 months of inventory, detached homes are firmly in a buyer’s market. The benchmark price sits at $1,994,500, down 3.2% year-over-year. High inventory is giving buyers ample negotiating room, especially in upper price bands.

Condos: Oversupplied and Competitive

Condo listings surged to a record high in June. While 1,040 units sold, that’s a 16.5% year-over-year drop, with absorption rates softening in price points over $900K. Benchmark condo prices sit at $748,400, down 3.2% annually and 1.2% month-over-month.

Townhomes: Holding Ground

Townhouses are the only segment to see a year-over-year increase in sales (+3.7%), with benchmark prices at $1,103,900 (down 3% YoY). Despite rising inventory, absorption is stronger here than in detached or condo segments — particularly in family-oriented neighborhoods with quality schools and transit.

Neighbourhood Bright Spots: Where the Market Is Moving

Despite slower overall conditions, several Metro Vancouver submarkets are showing encouraging signs — whether through stable pricing, increased sales activity, or outperforming inventory absorption.

Here are some of the most notable bright spots from the June 2025 data:

🔵 Burnaby North – Condos

• Benchmark condo price: $724,900

• Month-over-month change: +1.8%

• This submarket posted the highest monthly price increase for condos among core Burnaby areas — a sign of buyer demand returning to well-located, transit-accessible homes under the $800K range.

🟢 Coquitlam – Townhomes

• Benchmark townhouse price: $1,096,600

• Year-over-year change: +1.1%

• Coquitlam remains one of the few regions where townhome values are higher today than they were a year ago, supported by demand from young families seeking space and school catchments.

🟠 Squamish – Detached Homes

• Benchmark price: $1,674,400

• Year-over-year gain: +8.2%

• Squamish continues to buck the regional trend, with rising demand from both lifestyle-driven buyers and long-term investors. It’s the strongest-performing detached submarket in Metro Vancouver year-over-year.

🔵 New Westminster – Entry-Level Condos

• Units in the $450K–$650K range saw some of the highest absorption rates, with sales-to-active ratios between 20–30% — a clear indicator that affordable homes in connected urban hubs remain in demand.

🟡 Pitt Meadows – Townhouses

• Benchmark townhouse price: $839,200

• Year-over-year change: +0.6%

• Though small in volume, this is one of the few areas with price growth in the townhouse segment, driven by limited supply and family-oriented demand.

Local Strategy Matters More Than Ever

The regional averages only tell part of the story. Real estate is always hyper-local, and the data shows that not all areas are moving the same. That’s why your strategy — whether pricing, marketing, or timing — must reflect not just your city, but your segment, your product type, and your street.

Smart Moves: Why Now Is a Strategic Time to Upsize

One of the clearest patterns we’re seeing across the market is that entry-level homes — relative to each submarket — continue to attract steady buyer demand.

What qualifies as “entry-level” varies by city:

• In New Westminster, that could mean a condo in the $500K–$650K range.

• In Burnaby, active townhouse segments are closer to $850K–$1.15M.

• In Maple Ridge or Pitt Meadows, entry-level detached homes can be found around $1.25M–$1.4M.

But across the board, it’s consistent: entry-level price bands are where the action is, while listings above the median — particularly over $2M for detached and $1M for condos — are seeing far slower absorption.

This creates a rare opportunity:

If you’re selling in a stronger-performing entry-level segment and upsizing into a slower, higher-value one, you’re leveraging a unique trade-up advantage.

This is one of the best environments we’ve seen in years for upsizers — those moving from condo to townhouse, or townhouse to detached — especially if the purchase is long-term.

Pricing Strategy is Everything

In this kind of market, your pricing strategy can make or break the outcome.

We’ve seen time and again that properties priced correctly from the start attract the right buyers early — while those listed based on aspirational value sit and stagnate.

As agents, we don’t oversell or inflate expectations. We strive to educate our sellers and ensure every pricing recommendation is grounded in:

• Real-time data

• Current neighborhood trends

• Buyer behavior and inventory levels

Your pricing strategy isn’t just a number — it’s the foundation of your marketing, your negotiation position, and your ultimate success.

Final Thoughts: Balanced Doesn’t Mean Boring

The June market is best described as a grind — balanced in many areas, slow in others, but not without opportunity. While interest rates and inflation continue to impact sentiment, affordability is marginally improving, and seasoned buyers are beginning to step in.

Sellers with entry-level homes in good condition are still achieving excellent results. Buyers looking to upgrade have negotiating power that didn’t exist two years ago. And above all, smart strategy — informed by data and local experience — is what will separate successful outcomes from missed opportunities.

Have Questions or Considering a Move?

Whether you're exploring a possible sale, wondering if now is the time to upsize, or just want to understand where your property fits into the current market — we’re here to help.

📩 Reach out for a personalized market evaluation or strategic consult.
Let’s make the market work for you.

The Canadian federal government recently unveiled a new GST relief program designed to make buying a new home more accessible for first-time home buyers — and as of May 2025, the details have become much clearer.

If you’ve been following our updates, you may have already read our deep dive: Understanding Canada's New GST Rebate for First-Time Home Buyers. Now, we’re back with even more clarity — thanks to additional legal insights provided by our trusted lawyer.

Let’s break it all down.

📣 What’s New?

As of May 2025, the federal government announced full GST relief on the purchase of newly built homes (including pre-construction condos and townhomes) for qualifying first-time buyers. This incentive is part of a broader effort to boost housing affordability and stimulate supply by supporting middle-class Canadians entering the housing market.

🏷 Who Qualifies for the GST Rebate?

Here are the updated and clarified eligibility criteria:

• ✅ You must be a first-time home buyer.

• ✅ You must live in the home as your primary residence.

• ✅ The purchase price must be below $1.5 million.

• ✅ Applies to new builds only — resale homes are not eligible.

• ✅ This rebate is in addition to any provincial rebates or incentives already in place.

📌 Key Update: According to our legal sources, the rebate will not require income testing, but you’ll need to sign a declaration confirming you’re a first-time buyer.

🔍 What Types of Homes Are Covered?

• Single-family homes

• Condominiums

• Townhouses

• Duplexes or row houses

As long as they are newly built and not previously occupied, they qualify.

📜 Legal Clarifications You Should Know

Here are the top questions answered:

Q: Do I need to apply for the rebate separately?

A: No separate application is needed. The rebate should be automatically deducted from the purchase price during the conveyancing process — your lawyer or notary will handle the paperwork.

Q: What if I buy with a partner who isn’t a first-time buyer?

A: You may still qualify if you are a first-time buyer and the home will be your primary residence, but consult your conveyancer to ensure eligibility.

Q: Will this rebate show up in the contract?

A: Yes. Your contract will note whether the GST rebate is included in the purchase price or added on top. It’s important to clarify this with your developer or builder.

💡 How This Impacts You as a Buyer

This GST relief could save you up to $75,000 (5% of a $1.5M home) — a major cost reduction that could make the difference between affording your dream home or sitting on the sidelines.

If you’re planning to buy a pre-sale or new construction in BC or anywhere in Canada, this rebate is worth exploring further with your real estate team and legal advisor.

🗓 When Does This Take Effect?

The rebate is already in effect as of May 2025, and it applies to qualifying agreements signed on or after that date. If you’re in the market now, you may already be eligible!

📞 Have Questions? We’re Here to Help.

We stay ahead of the legal and market shifts so you don’t have to. Whether you’re a first-time buyer or helping a family member navigate the homeownership process, we’re ready to guide you.

👉 Contact us to find out how this rebate can apply to your next purchase — and let’s make your first home more affordable, together.

Join us for an exclusive Open House at 65 E King Edward Avenue, where modern elegance meets unmatched walkability just steps from vibrant Main Street. These newly built duplex homes are nestled in a prime location with a Walk Score of 98, offering an ideal lifestyle for growing families or professionals who value comfort, quality, and convenience.

🗓 Open House Details:

📍 Address: 1 & 2 65 E King Edward Avenue, Vancouver
📅 Date: June 28, 2025
🕒 Time: 2PM to 4PM

✨ Property Highlights – Unit 1 & Unit 2

These thoughtfully designed homes include:

• ✅ Air Conditioning

• ✅ Engineered Hardwood Flooring

• ✅ Electric Radiant Heating + Heat Pump

• ✅ In-Suite Laundry

• ✅ Built-in Entertainment System

• ✅ Smart Google Nest Thermostats

• ✅ Security System & Built-in Speakers on Main Floor

• ✅ Fisher & Paykel Appliance Package

• ✅ Durable Rainscreen Exterior & Concrete Driveway

• ✅ Attached Single-Car Garage

• ✅ 1/2/5/10 Year New Home Warranty

🏠 UNIT 1 – COMPACT COMFORT

📐 1161 Sq. Ft. | 💰 Offered at $1,498,000
A beautifully laid-out 2-storey home, perfect for families looking for modern living in a manageable space.

Features Include:

• South-Facing Covered Porch for all-season lounging

• Cozy yet open Living Area with a Tucked-Away Dining Space

• All 3 Bedrooms on the Upper Level for maximum privacy

• Light-filled interiors with a breezy, open-concept design

• Fully Fenced Yard – great for kids or pets

🏡 UNIT 2 – EXPANSIVE ELEGANCE

📐 1809 Sq. Ft. | 💰 Offered at $2,168,000
Perfect for those seeking more room to grow or entertain.

Features Include:

• Spectacular Mountain Views from the upper floors

• Rec Room with Wet Bar for movie nights or weekend entertaining

• Direct Garage-to-Rec Room Access for added security & ease

• Outdoor Built-In BBQ Kitchen ideal for summer grilling

• Spacious open-concept layout flooded with natural light

📍 Location, Location, Location!

Steps from Main Street, you’re surrounded by:

🛍 Boutique Shops
🍽 Trendy Restaurants & Cafés
🚌 Easy Transit Access
🌳 Queen Elizabeth Park just minutes away

Situated within the catchment of General Wolfe Elementary and Eric Hamber Secondary, making this a dream family home in a top-tier school district.

📞 Ready to See It for Yourself?

Don’t miss your chance to experience these brand-new homes in one of Vancouver’s most vibrant communities.

📲 Contact us to schedule a showing or drop by our Open House.
These gems won’t last long!