Average House Price in Vancouver

by The Canadian Magazine of Immigration · June 16, 2025

The average house price in Vancouver is $1,177,100

Housing Market in Vancouver – May 2025

In May 2025, Vancouver’s housing market remained firmly in buyer’s territory, characterized by a sales-to-new-listings ratio (SNLR) of 34%, with 2,228 homes sold, an 18% year-over-year decline, and active listings reaching 17,094, the highest since 2016. The average home price in Greater Vancouver was $1,266,441, down 5.9% from May 2024, while the benchmark price fell 2.9% to $1,177,100. Detached homes averaged $2,046,719, attached homes $1,257,813, and apartments $801,280, reflecting varied price trends with detached homes dropping 8% annually, attached homes slightly up, and apartments down 3.6%. High inventory, economic uncertainty from U.S. tariff threats, and cautious buyer sentiment due to affordability challenges continued to suppress demand despite lower interest rates following Bank of Canada cuts totaling 2.25% since June 2024.

Housing Market in Vancouver – April 2025

In April 2025, Vancouver’s housing market continued to cool, reflecting a broader trend of declining prices and reduced sales activity. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver was $1,184,500, marking a 1.8% decrease year-over-year and a 0.5% drop from March 2025. Apartment benchmark prices fell to $762,800, down 2% from April 2024, while single-family homes averaged $2,029,400, a significant 8.2% decline from the previous year. This softening was driven by a 23.6% drop in home sales compared to April 2024, with 2,163 transactions recorded, alongside a 27.7% increase in active listings, signaling a shift toward a buyer’s market amid economic uncertainty.

Housing Market in Vancouver – March 2025

Vancouver’s housing market in March 2025 is firmly in buyer’s market territory. , with the benchmark price at $1,190,900, a 0.6% annual decrease. Sales fell 11.7% year-over-year, and housing starts dropped 59% from March 2024, primarily due to reduced multi-unit construction. Rental prices declined 5.7% to $2,822, the lowest in nearly three years, reflecting high supply from apartment completions, though demand for larger units persists.

The average home price was down 2.9% year-over-year.

Average House Price in Vancouver
	2023	2024	2025
January	$1,114,800*	$1,166,800*	$1,173,000
February	$1,132,600*	$1,182,000*	$1,185,100
March	$1,145,700*	$1,198,400*	$1,190,900
April	$1,173,000*	$1,206,500*	$1,184,600
May	$1,188,000	$1,212,000	$1,177,100
June	$1,269,399*	$1,349,985
July	$1,274,782*	$1,280,879
August	$1,208,400	$1,195,900
September	$1,203,300	$1,179,700
October	$1,196,500	$1,172,000
November	$1,185,100	$1,172,100
December	$1,168,700	$1,171,500
Source: CREA
*Updated

House prices in Vancouver 2020-2022

Average House Price in Vancouver
	2020	2021	2022
January	$1,001,700*	$1,059,200*	$1,190,000*
February	$1,014,600*	$1,087,700*	$1,237,800*
March	$1,027,200*	$1,127,200*	$1,263,500*
April	$1,028,800*	$1,155,700*	$1,264,700*
May	$1,028,400	$1,099,100*	$1,257,700*
June	$1,026,200*	$1,099,300*	$1,233,000*
July	$1,032,600*	$1,095,000*	$1,205,000*
August	$1,039,100*	$1,099,400*	$1,178,700*
September	$1,042,100*	$1,112,000*	$1,153,000*
October	$1,045,900*	$1,125,200*	$1,146,400*
November	$1,044,400*	$1,138,400*	$1,129,300*
December	$1,048,600*	$1,152,500*	$1,112,600*
Source: CREA
*Updated

Home prices depend on the size, location, amenities, the age and condition of the apartment, townhouse or house.

Average House Price in Vancouver
	2017	2018	2019
January	$905,800*	$1,067,900*	$1,021,000*
February	$916,900*	$1,082,600*	$1,017,900*
March	$933,300*	$1,095,000*	$1,012,500*
April	$955,500	$1,102,300*	$1,010,200*
May	$981,100*	$1,104,400*	$999,800*
June	$998,700*	$1,004,400*	$991,000*
July	$1,019,400*	$1,098,600*	$987,200*
August	$1,040,500*	$1,083,200*	$986,400*
September	$1,047,500*	$1,068,600*	$984,200*
October	$1,051,300*	$1,061,300*	$986,400*
November	$1,056,300*	$1,041,700*	$986,800*
December	$1,061,000*	$1,033,300*	$993,300*
Source: CREA
*Updated