On September 17, 2025, the Bank of Canada reduced its key policy interest rate by 25 basis points, bringing it down to 2.50%. This is the lowest level in three years and its first cut since March.

This move came as the Canadian economy showed signs of weakness: GDP contracted by ~1.6% in Q2, more than 100,000 jobs were lost over two months, and unemployment rose to a nine-year high (excluding pandemic years).
Inflation is easing but remains within the target range—core CPI is hovering around 2.5% to 3%, and headline CPI is at 1.9%.

Governor Tiff Macklem emphasized the decision was unanimous and signalled further cuts may follow in October, potentially reaching 2.25% by late 2025.

What It Means for the Canadian Housing Market

1. Market May Heat Up Further

Lower policy rates generally reduce borrowing costs. Mortgage lenders are expected to pass on this reduction - variable mortgage rates are likely to drop by about 0.25%, undercutting current borrowing costs and potentially boosting affordability.
Cheaper loans may prompt buyers who had delayed purchasing to re-enter the market, especially in high-demand cities like Vancouver and Toronto.

2. Potential for More Qualified Buyers

As mortgage rates decline, more Canadians may now qualify for financing. With improved purchasing power, first-time buyers and investors re-evaluate affordability thresholds therefore, expanding the pool of active participants.

3. Competition May Increase

Increased demand typically brings more competition. Listings could draw multiple offers faster, particularly if supply remains constrained. Well-prepared buyers will have an edge.

🔍 What’s Next: Future Rate Cuts & Market Outlook

Analysts expect the Bank may continue easing with another cut possibly in October. Consensus forecasts suggest the terminal rate could land around 2.25% by year-end, some projections hold it at 2.75% into 2026 before gradual declines to 2.50% or below.

Still, trade-related economic risks, especially ongoing U.S. tariffs, could influence the Bank’s decisions and the broader housing market.

How to Position Yourself Now:

If you're looking to buy, sell, or refinance, here are three proactive steps:

1. Contact a Mortgage Broker

Understand your mortgage eligibility under the new rate. Ask what variable vs. fixed options are available, and whether refinancing might save you on monthly payments or increase your buying capacity.

2. Get in Touch with a Realtor

Realtors offer on-the-ground insights: hot neighbourhoods, shifting demand, and how competition is evolving. This can be invaluable whether you're buying, selling, or investing.

3. Understand Potential Market Outcomes

Know that a warmer market means faster-moving inventory and more competition. Whether you're shopping or listing, anticipate multiple offers and be clear on your strategy and financing pre-approval.

Summary

To get more information on where you stand Contact us at Coastal Key Homes.

Let’s explore three possible outcomes of the BoC decision and what each means for Vancouver buyers, sellers, and investors:

1. Scenario A: Rates Increase

(Less likely, but still worth considering)

• Would raise the benchmark from the current 2.75%, tightening credit conditions.

• Higher mortgage costs fixed and variable rates would reduce buyer affordability in Vancouver’s high-priced market.

• Likely to further dampen demand, slowing sales volumes while putting downward pressure on prices.

• Sellers may need to adjust expectations, and investors would lose appetite.

2. Scenario B: Rates Stay at 2.75%

• The BoC holds steady, continuing its third consecutive pause and citing persistent core inflation and trade-related uncertainty.

• Mortgage rates hold firm, providing stability for those renewing or shopping.

• In Vancouver, this generally translates into a steady, predictable market. This would mean neither heating further nor cooling sharply.

• Buyers and sellers can rely on existing affordability assumptions; the market remains balanced.

3. Scenario C: Rates Drop by 25–50 bps (to 2.50% or 2.25%)

➤ Cut of 25 bps (to ~2.50%)

• Lowers prime rate and variable mortgage costs; bond yields fall, reducing new fixed-rate borrowing costs.

• Lower financing costs may spur demand, lifting buyer activity in Vancouver and nudging prices upward, but gently so.

• Refinancing opportunities open up for current owners; affordability improves modestly.

➤ Cut of 50 bps (to ~2.25%)

• More substantial rate relief, variable mortgage holders would see clear monthly savings; fixed-rate borrowers gain if rolling into lower-yield terms.

• Stronger market momentum: refreshed buyer confidence, potential uptick in showings, listings, and transactions.

• Could attract investors or first-time buyers who had been waiting on lower rates.

Vancouver Market Spotlight

• With median home prices typically well above $1 million, even modest rate changes materially affect mortgage payment amounts and qualifying thresholds.

• Lower rates offer a chance to qualifying for a larger mortgage or higher budget, especially critical in Vancouver’s tight inventory environment.

• Refinances or renewals unlocked by lower rates can reduce household financial stress and free up discretionary funds.

• Sellers should note: a cut could expand buyer pools, making September and early fall a strong window to list.

Key Drivers to Watch Before the Announcement

• August inflation prints especially core inflation, which remains stubbornly above 3% despite headline inflation cooling to ~1.7%.

• The trade environment, including softening U.S. tariffs and Canada’s rollback of retaliatory duties, which may ease domestic inflation pressures.

• Latest employment & GDP data across both Canada and the U.S.; markets expect some movement in the Fed as well, which could influence BoC sentiment.

What Should You Do?

1. Buyers & Borrowers:

   • If rates drop, seize opportunities to lock in more affordable financing or increase your target budget.

   • With rates steady or rising, act now before rates potentially climb or inflation remains sticky.

2. Sellers:

   • If rates cut, fall inventory and rising demand could work in your favour—strategic listing timing matters.

   • If steady or up, manage pricing carefully and monitor local buyer sentiment.

3. Investors & Renewers:

   • Lower rates can offer better cash flow, especially for variable-rate loans.

   • Renew or refinance sooner—don't wait if cuts materialize.

Coastal Key Homes: Your Vancouver Real Estate Partner

At Coastal Key Homes, we specialize in helping Vancouver clients navigate uncertain rate environments. Whether rates go up, hold, or head down we have your back.

• Buyers: We'll help analyze affordability and secure optimal mortgage solutions.

• Sellers: We time your listing for maximum impact and guide you through pricing strategy.

• Investors: We offer long-term return modelling based on rate scenarios and market trends.

• 
  Get in touch with Coastal Key Homes today to plan your next move and with confidence. Whether you're buying, selling, refinancing, or investing, we’re here to tailor opportunities to your needs in Vancouver’s dynamic market.

Whatever the Bank of Canada decides on September 17, 2025, we're ready. Reach out to Coastal Key Homes for expert insights and real-estate strategy tuned to current and future rate landscapes.

The Metro Vancouver housing market saw a subtle but important shift in August 2025. With prices easing across most property types, more buyers stepped off the sidelines, bringing a small but notable increase in sales activity compared to the same period last year.

According to the Greater Vancouver REALTORS® (GVR), a total of 1,959 residential sales were recorded on the MLS® in August 2025. That’s a 2.9% increase from August 2024, though still 19.2% below the 10-year seasonal average of 2,424.

While overall activity remains below long-term norms, the numbers point to signs of recovery after a slower start to the year.

Key Takeaways for August 2025

• Sales volumes: Up nearly 3% year-over-year.

• New listings: 4,225 properties hit the market in August – slightly above both last year (+2.8%) and the 10-year seasonal average (+1.3%).

• Total inventory: 16,242 active listings, a 17.6% increase compared to last year and nearly 37% above the 10-year average.

• Sales-to-active listings ratio: 12.4% overall (detached: 9.3%, townhomes: 15.8%, condos: 14%). This places most of the market in balanced territory, though detached homes remain softer.

• Benchmark prices: Metro Vancouver’s composite benchmark sits at $1,150,400, down 3.8% year-over-year and 1.3% month-over-month.

Market Insights

“Sales in the detached and attached segments are up over 10% from last August, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way,” explains Andrew Lis, GVR’s Director of Economics and Data Analytics.

This is reflected in the breakdown:

• Detached homes: 575 sales (+13% YoY), benchmark price $1,950,300 (down 4.8% YoY).

• Townhomes (attached): 409 sales (+10.5% YoY), benchmark price $1,079,600 (down 3.5% YoY).

• Condos (apartments): 956 sales (-5.5% YoY), benchmark price $734,400 (down 4.4% YoY).

Across the board, prices have softened between 1%–2% month-over-month and are sitting below 2024 levels. Sellers appear increasingly willing to adjust expectations, helping buyers and sellers find more common ground.

What This Means for Buyers

For those looking to purchase, current conditions are relatively favourable:

• More choice: Inventory is at one of the highest levels in the past decade.

• Better prices: Benchmarks are down 3 - 5% year-over-year depending on the property type.

• Less competition: With the sales-to-active listings ratio near balanced levels, bidding wars are less common than in past years.

That said, if sales activity continues to rise while new listings remain flat, today’s window of opportunity could narrow heading into fall.

What This Means for Sellers

While prices have dipped modestly, motivated buyers are returning - particularly in the detached and townhouse markets. Sellers who price competitively are more likely to attract serious buyers and secure deals in today’s more balanced environment.

Long-Term Perspective

Despite short-term price declines, Metro Vancouver real estate has shown remarkable long-term resilience:

• Up 22% over the past 3 years

• Up 43% over the past 5 years

• Up more than 40% over the past decade

For both buyers and investors, this underscores real estate’s role as a stable, appreciating asset in the Vancouver region.

Final Thoughts

The Vancouver market in August 2025 reflected a more balanced and accessible environment than we’ve seen in recent years. Easing prices and higher inventory have opened opportunities for buyers, while sellers are finding that realistic pricing leads to steady sales.

As we move into the fall market, the balance between new listings and buyer demand will determine whether today’s favourable conditions for buyers continue, or whether tightening supply begins to push prices upward again.

Thinking about making a move?
Whether you’re buying, selling, or just keeping an eye on the market, having the right strategy is key. At Coastal Key Homes, we help clients navigate Vancouver’s ever-changing real estate landscape with data-driven insights and personalized guidance.

📞 Contact us today to explore your opportunities in Metro Vancouver real estate.

The Vancouver and Greater Vancouver real estate market has been in a period of transition (as you can see from my previous blogs). After years defined by frenzied bidding wars, rapid appreciation, and a sense of inevitability that “prices only go up,” the landscape has shifted - big time. Inventory is climbing, prices are softening, and sellers are slowly adjusting expectations to meet the new markets demands.

For the first time in years, the power balance is tilting back toward buyers.

The Numbers Behind the Shift

• Inventory Growth: Listings across Greater Vancouver continue to climb month over month. Detached, townhouse, and condo inventory all remain elevated compared to recent years. Though sales have creeped up month over month, we are still in a stand still over more inventory and less sales. 

• Slower Sales: We’re also seeing record low sales volumes, which means more listings are sitting longer without offers.

• Prices Easing: The average price per square foot is slowly declining, not in a dramatic crash, but in a steady downward trend that’s been playing out for over a year.

• Days on Market Rising: Properties are spending longer on the market. Homes that would have sold in a week in 2021 are now lingering for 30, 60, even 90+ days.

This combination of all the above means as a buyer we have more choices, slower absorption, and softer pricing. This creates leverage for buyers.

What’s Selling (and What’s Not)

Not everything is being impacted equally.

• Still Selling: Properties with excellent layouts, renovated interiors, or prime locations continue to move. But they’re trading at reduced prices compared to the 2021/2022 peaks.

• Lingering Listings: One-bedroom condos, homes needing renovations, and investment properties that don’t pencil out under current financing conditions are sitting much longer. Short-term rental restrictions and higher material costs have further dampened demand in these segments.

For buyers, this creates a two-tiered market: good homes at fairer prices and overlooked homes where serious deals can be negotiated.

The Developer Dilemma: Today’s Pain, Tomorrow’s Shortage

The new-build sector is under heavy pressure. Developers are grappling with higher interest rates, rising construction costs, and stricter lending requirements. Many projects are being delayed or shelved entirely. In some cases, we are even seeing receivership for properties. 

Why This Matters for Buyers:

1. Negotiation Power: Developers with active projects are motivated to show sales to lenders. This creates opportunities for buyers to lowball on pre-sales and secure significant incentives.

2. Future Supply Squeeze: With fewer projects breaking ground today, we’re setting up for an undersupply of new housing in 3–5 years. That could mean a rebound in pricing when the next wave of demand hits.

If you’re considering pre-construction, the window to secure a below-market deal may never be better.

Layered Incentives: Why New Builds Under $1.1M Are a Sweet Spot

Recent government policy has opened the door to unique savings:

• No GST on new builds under $1.1M (Federal).

• No Property Transfer Tax on new builds under $1.1M (Provincial).

For first-time buyers, this can mean tens of thousands of dollars in savings. Targeting pre-sales or nearly completed units under $1.1M is a strategy worth serious consideration.

Pro tip: Look at 2024–2025 completion projects under $1.1M. Developers want those units moved, and you can stack the incentives for maximum value.

The Psychology of Today’s Market

The market isn’t driven purely by numbers - it’s driven by people. Right now, we’re seeing:

• Sellers Anchored to Yesterday: Many homeowners are still pricing based on 2021 valuations. When listings sit, they eventually reduce, creating opportunities for buyers willing to wait.

• Buyers Hesitant, Sitting on the Sidelines: Fear of “buying at the wrong time” is keeping many would-be buyers out of the market. Of course, this reduces competition for those who are ready to act.

• Investors Stepping Back: With higher interest rates, stricter tax policies on secondary properties, and short-term rental restrictions, many investors are no longer absorbing inventory. This leaves more room for end-users.

Neighborhood Insights: Where to Look

Different parts of Greater Vancouver are experiencing the shift in unique ways:

• North Vancouver: Inventory is stacking up in areas like Lower Lonsdale condos, while detached homes in Upper Lonsdale and Lynn Valley show more realistic pricing.

• Burnaby & New Westminster: A surge in new condos has created leverage for buyers, particularly around Brentwood and Metrotown.

• East Vancouver: Older character homes needing updates are sitting longer, while turnkey properties still sell quickly.

• West Side Vancouver: High-end listings remain aspirational in pricing, creating some of the deepest negotiation opportunities for well-qualified buyers.

Understanding the micro-markets is key—some areas are softening faster than others.

The Long-Term Outlook

Real estate is cyclical. Right now, we’re clearly in the downward or flat stage of the cycle. Will prices fall further? Likely modestly, as sellers continue to adjust. But history tells us there will be a threshold where institutional buyers, government programs, or pent-up demand steps in.

What’s certain:

• Buyers finally have room to negotiate today.

• New supply is being choked off, setting up future pressure.

• Those who buy smart now will be well-positioned when the cycle turns again.

Final Word: Don’t Chase FOMO, Seize Strategy

If you’re buying in this market, buy for the right reasons: because you can afford it, you love the property, you have the means to develop or renovate and you plan to hold it long term.

This isn’t 2021 - you don’t need to waive conditions or outbid 20 other buyers. Instead, you can approach the market strategically, with patience, negotiation, and contingencies intact.

Ready to Find Your Opportunity?

At Coastal Key Homes, we specialize in helping buyers cut through the noise, identify hidden value, and negotiate from a position of strength. If you’ve been waiting for the right moment to step into the market - this may be it.

Contact us to begin your journey today. 

📞 Contact us 778-836-8965
📧 Email us at Ian.iacovitti@gmail.com 

North Vancouver isn’t just a place to live - it’s a lifestyle for explorers, safety, and family adventure. Whether you want to be steps from the ocean, surrounded by trails, or in the heart of a vibrant community with access to downtown, the North Shore has a neighbourhood for you.

In this guide, we are breaking down four of the most desirable neighbourhoods in North Vancouver: Deep Cove, Edgemont Village, Lower Lonsdale, and a hidden gem, Seymour Heights.

To keep things balanced, we’ve rated each area across four key lifestyle categories: Adventure & Outdoors, Amenities, Access to Highways/Main Roads, and Affordability. At the end, you’ll find an overall ranking.

Deep Cove

Deep Cove is iconic North Vancouver - a picturesque seaside village where kayaks, paddleboards, and hiking boots are part of everyday life. It feels more like a vacation town than a suburb of a major city. With the neighbourhood being off the beaten path, this community is truly a goldmine in true BC living.

Adventure & Outdoors: 5/5
From kayaking in the cove to the Quarry Rock trail, to being minutes from Mt. Seymour, outdoor enthusiasts won’t find a better base.

Amenities: 3/5
A handful of charming cafés, ice cream shops, and restaurants (Arms Reach Bistro is a local gem), plus boutique stores. But you won’t find big-box conveniences here.

Access: 2/5
This is the trade-off - Deep Cove’s beauty also means isolation. With only two main access roads (Mt. Seymour Parkway and Dollarton Hwy), bottlenecks are common, especially on weekends. Due to Deep Cove having Honey’s Donuts, and being a true tourist destination Deep Cove tends to back up on weekends. Offering tough commutes to locals that live in the area. 

Secondly, with the Ironworkers bridge - access to Deep Cove can be affected by traffic jams on the highways. 

Affordability: 2/5
Limited housing stock and the prestige of the location keep prices high. Detached homes with water views can easily reach premium pricing.

Best Streets to Live on:

• Panorama Drive — waterfront homes right on the Cove, a rare opportunity.

• Cliffmont Road — tucked away with stunning views and larger lots.

• Gallant Avenue — in the heart of the village, ideal if you want walkability.

Total: 12/20

Edgemont Village

Edgemont is the definition of North Shore charm. A walkable Whistler like village filled with boutique shops and cafés, framed by mountains in the distance. It’s a hub for families, with some of the best schools on the shore and trails nearby.

Adventure & Outdoors: 4/5
Grouse Mountain, Cleveland Dam, and Capilano Canyon are all just minutes away. You’re never far from a trailhead.

Amenities: 5/5
The village itself is thriving with artisan bakeries, coffee shops, restaurants, and professional services. It’s one of the most self-contained neighbourhood hubs on the North Shore. As well, local high schools such as Hansworth have become a desirable education location for parents looking to set their children up for success as they make their way into Universities.

Access: 4/5
Quick access to Highway 1 and the Lions Gate Bridge makes Edgemont one of the more commuter-friendly neighbourhoods. Following Capilano Road leads you quickly onto the highway, or heading down towards Marine Drive gives you access to downtown in minutes - traffic pending of course.

Affordability: 2/5
This is one of North Vancouver’s priciest areas, with detached homes dominating the market and a high level of demand keeping prices competitive.

Best Streets to Own:

• Ridgewood Drive — perfectly positioned for quick access to Grouse Mountain and the village.

• Crescentview Drive — beautiful, quiet homes with a mix of classic builds and luxury new constructions.

• Highland Boulevard (near the village core) — unbeatable walkability with character homes and modern builds alike.

Total: 15/20

Lower Lonsdale

Lower Lonsdale is the beating heart of urban North Van. Between The Shipyards District, Lonsdale Quay, and the Seabus, it’s where city energy meets mountain views. This neighbourhood attracts young professionals, downsizers, and anyone who values a car-light lifestyle.

Adventure & Outdoors: 3/5
The Spirit Trail connects you to miles of biking, Mount Seymour, Capilano University and walking routes along the water. Plus you’re only a short drive to the mountains such as Lynn Valley. But it’s a more urban outdoor experience compared to Deep Cove or Seymour.

Amenities: 5/5
Craft breweries, top-tier restaurants, fitness studios, boutique shops, and an active community space at The Shipyards - Lower Lonsdale has it all.

Access: 5/5
The Seabus gets you downtown in 12 minutes, and major east-west roadways give you quick access across the North Shore.

Affordability: 3/5
Compared to detached-heavy neighbourhoods, Lower Lonsdale offers more options through condos and townhomes, making it an easier entry point for young couples, professionals or those looking to downsize while maintaining a beautiful view of Vancouver.

Best Streets to Own:

• 1st Street (west side) — a unique smoke-free area, with modern developments and easy access to the waterfront.

• Chesterfield Avenue — a blend of character homes and newer builds within walking distance to the quay.

• Esplanade (east side) — where luxury condo towers provide unbeatable ocean and city views.

Total: 16/20

Seymour Heights

Seymour Heights is one of the North Shore’s best-kept secrets. Nestled at the base of Mt. Seymour, it offers quiet residential living with unbeatable access to the outdoors. Families love the schools, and buyers love the relative value compared to Edgemont or Deep Cove.

Adventure & Outdoors: 5/5
Minutes from skiing, snowboarding, and mountain biking at Mt. Seymour. With hiking trails in every direction, this is an outdoor paradise.

Amenities: 3/5
You’ll find groceries, community centres, and schools nearby, but no central “village” hub like Edgemont or Lower Lonsdale.

Access: 3/5
Better than Deep Cove but still reliant on Mt. Seymour Parkway, which can get busy. Quick to Highway 1 heading east.

Affordability: 4/5
Compared to the prestige pricing of Edgemont or Deep Cove, Seymour Heights offers more attainable detached homes without sacrificing lifestyle.

Best Streets to Own:

• Cliffmont Road — tucked away, offering privacy and views.

• Berkley Road — family-friendly, close to schools and parks.

• Seymour Boulevard — quiet, yet close to amenities and Mt. Seymour access.

Total: 15/20

Ranking the Neighbourhoods

1. Lower Lonsdale — 16/20

2. Edgemont Village — 15/20

3. Seymour Heights — 15/20 (just behind Edgemont for amenities)

4. Deep Cove — 12/20

Final Thoughts

Choosing a neighbourhood in North Vancouver comes down to lifestyle. If you thrive on urban convenience, Lower Lonsdale leads the pack. For family-friendly living with top schools and village charm, Edgemont is the choice. Seymour Heights quietly offers great value with direct mountain access, while Deep Cove remains the ultimate spot for waterfront adventure and charm, despite the commute trade-offs.

Interested in finding new listings? Or listing your house in Vancouver with Trusted REALTORS? Reach out to the team at Coastal Keys Homes for insights. 

The Canadian housing market showed strong momentum this July, with national home sales climbing 3.8% month-over-month according to the latest data from the Canadian Real Estate Association (CREA). While much of the national increase was led by Toronto, Vancouver buyers and sellers should take note. The summer market is heating up, and new Vancouver listings are drawing renewed attention.

National Housing Market Highlights (July 2025)

• Home sales up 3.8% from June, marking the fourth consecutive monthly increase.

• New listings unchanged (+0.1%), keeping inventory levels relatively tight.

• Benchmark home prices steady, with the MLS® HPI showing no month-over-month change.

• National average home price: $672,784 (+0.6% year-over-year).

• Months of inventory: 4.4, below the long-term average of 5 — signaling tightening conditions.

CREA’s Senior Economist, Shaun Cathcart, notes that this “post-inflation crisis pickup in housing seems to have finally arrived,” with buyer activity strengthening just as more listings typically hit the market in September.

What This Means for the Vancouver Real Estate Market

In Vancouver, where demand for housing consistently outpaces supply, this national shift reflects what we’re starting to see locally:

• More buyers returning after sitting on the sidelines through last year’s interest rate hikes.

• Tight inventory keeping competition alive, especially in popular neighborhoods like North Vancouver, Kitsilano, and East Vancouver.

• Stabilizing prices that suggest the market has found its footing after early 2024 declines.

For sellers, this environment is encouraging: new Vancouver listings are getting noticed faster, and balanced conditions mean properties priced competitively have a strong chance of moving before fall.

For buyers, patience and preparation are key. With September historically bringing a wave of new Vancouver listings, staying pre-approved and ready to act quickly could make the difference in securing your ideal property.

Looking Ahead to Fall 2025

The Vancouver housing market often gains momentum in early September when new supply hits the market. With sales already climbing nationally and inventory levels tightening, fall 2025 may present increased competition for buyers.

If you’re planning to make a move this year, now is the time to start exploring new Vancouver listings and working closely with a REALTOR® who understands the local dynamics.

✅ Thinking about buying or selling in Vancouver?
Browse the latest new Vancouver listings or reach out today to discuss your options in this shifting market.

The latest Canadian jobs report made headlines and not for good reasons. In July, Canada lost 41,000 jobs, including a drop of 51,000 full-time positions and 39,000 part-time positions. Youth unemployment (ages 15–24) climbed to 14.6%, the highest since 2010 outside of pandemic years.

While these numbers signal economic softness, the Bank of Canada (BoC) isn’t expected to rush into more interest rate cuts as we have noted in past blogs. Instead, policymakers will likely hold steady, focusing on inflation control and monitoring global economic risks before making any moves.

So, what does this mean for you and future homebuyers in BC? Let’s break it down.

1. Mortgage Rates Are Likely to Stay Higher for Longer

• Variable rates: The BoC’s policy rate is expected to remain at 2.75% through much of 2025. That means variable mortgage rates will likely hold steady unless stronger evidence emerges of a broader economic slowdown.

• Fixed rates: These are tied to bond yields, which may drop slightly over the coming months. Forecasts suggest 5-year fixed rates could edge down to 4.2–4.4% by year’s end. It is signs of good news, but not a dramatic change.

To Summarize what this means for you: If you’re waiting for a big drop in rates before buying, you may be waiting longer than expected. While some small decreases are possible, we’re not likely to see the ultra-low rates of 2020–2021 anytime soon.

2. The Housing Market Could Stay Softer

In BC, particularly in expensive markets like Vancouver, the weak job market could temper demand. This may help keep prices from surging in the short to medium term.

CMHC’s 2025 Summer Outlook predicts a ~2% decline in average national home prices, though high-demand neighbourhoods may hold steady or even see modest gains.

What this means for you: Buyers may still find more negotiating power, especially in higher-end properties or in slower-moving segments of the market such as condominiums. Sellers might be more open to incentives, closing cost contributions, or longer possession timelines.

3. Smaller and Slower Rate Cuts Ahead

Even with weaker job growth, the BoC is likely to approach rate cuts cautiously. Most economists expect gradual reductions of 0.25% at a time, possibly starting late 2025 or early 2026.

To Summarize: If you’re planning a purchase in the next 6–12 months, don’t count on significant rate relief to make affordability dramatically easier. Instead, plan based on today’s rates, and treat any future cuts as a bonus. If you can lock in a fixed rate at an affordable point, stick with it; however, variable may be the route to go.

How New Home Buyers Can Prepare for the 2025 Market

Here are strategies that work across all buyer types—from first-time buyers to investors:

Bottom Line

The weak jobs report has added uncertainty to Canada’s economic outlook, but it hasn’t changed the mortgage rate landscape overnight. Rates are expected to stay elevated longer, the housing market may stay cooler in some areas, and buyers who act strategically could find opportunities in 2025.

If you’re buying in BC this year, focus on locking in good financing, negotiating smartly, and planning for the long game. The market may not be as frenzied as past years—but that can work in your favour.

Ready to make your move in BC’s 2025 real estate market?
At Coastal Key Homes, we help buyers and investors navigate changing markets with confidence. Whether you’re looking for your first condo, upsizing to a family home, or expanding your investment portfolio, we’ll guide you through every step—from securing the best mortgage rate to negotiating the right price.

📞 Call Ian Joseph Iacovitti, REALTOR® at 778-836-8965
📧 Email: Ian.iacovitti@gmail.com
🌐 Visit: www.coastalkeyhomes.ca

Whether you're a first-time homebuyer or moving into your next dream property, purchasing real estate in British Columbia (BC) involves a number of important steps — from mortgage pre-approval to closing day. This guide walks you through the entire process so you can feel informed and confident every step of the way.

Step 1: Determine Your Budget

Before you even start browsing listings on REALTOR.ca or booking showings, it's crucial to know how much you can afford. That includes both upfront costs and ongoing monthly expenses.

💸 Upfront Costs to Plan For:

• Down Payment: Minimum 5% for homes under $500K, 10% for amounts over $500K, and 20% to avoid CMHC mortgage insurance.

• Property Transfer Tax (PTT):

  • 1% on the first $200,000

  • 2% on $200,001 – $2 million

  • 3% on amounts over $2 million

  • First-Time Buyers may be exempt (conditions apply).

• Legal/Notary Fees: ~$1,000–$2,000

• Inspection Fees: ~$400–$700

• Appraisal (sometimes required): ~$300–$500

• Title Insurance & Land Title Registration Fees

• Moving Costs & Utility Setups

Step 2: Get Pre-Approved for a Mortgage

Getting pre-approved gives you a clear idea of your borrowing power and signals to sellers that you're serious.

What You Need for Mortgage Pre-Approval:

Personal Information

• Legal name, DOB, SIN

• Address history (past 3 years)

• Marital status & dependents (if applicable)

Employment & Income

• Employer info and job title

• Pay stubs (last 2–3)

• T4s or NOAs (last 2 years)

• Letter of employment

• Business financials (if self-employed)

Assets & Liabilities

• Bank statements (last 90 days)

• RRSPs, TFSAs, investment accounts

• Vehicle ownership

• Existing debts (loans, credit cards, lines of credit)

Property Information (if already selected)

• MLS listing

• Offer details

• Strata fees, property taxes

Once pre-approved, you’ll receive a maximum purchase price and an interest rate hold (usually 90–120 days).

Step 3: Choose a REALTOR®

Working with a licensed real estate professional in BC ensures you:

• Gain access to accurate listings and off-market opportunities

• Receive expert guidance through negotiations and paperwork

• Understand the complexities of local zoning, strata rules, and disclosure laws

Tip: Choose a REALTOR® familiar with the areas you’re looking in — like North Vancouver, Burnaby, Kitsilano, or the Tri-Cities.

Step 4: Start the Home Search

This is where the fun begins! Based on your budget and lifestyle, your REALTOR® will help you explore:

• Detached homes, townhouses, or condos

• Neighbourhood safety, schools, transit access

• Age and condition of the property

• Strata fees and rules (for condos/townhomes)

Use tools like MLS® search portals, private showings, and open houses to narrow down your options.

Step 5: Make an Offer

Once you find the right home, your REALTOR® will guide you through writing an offer, which typically includes:

• Price and deposit amount

• Subject conditions (financing, inspection, strata review, etc.)

• Desired possession date

• Inclusions (appliances, blinds, etc.)

Step 6: Due Diligence (Subject Removal Period)

During the conditional period (usually 7–10 days), you’ll work with your team to investigate:

Financing

• Final mortgage approval based on the specific property

• Property appraisal (sometimes required)

Home Inspection

• Hire a certified inspector to review the home's condition

Strata Document Review (for condos/townhomes)

• Minutes from AGM and council meetings

• Financial statements and contingency reserve fund

• Depreciation report

• Bylaws and rules (e.g., pet restrictions, rentals)

Title Search & Legal Review

• Check for liens, easements, or other red flags

If everything checks out, you remove subjects, submit your deposit (typically 5%), and the deal becomes firm.

Step 7: Hire a Lawyer or Notary

A legal professional will handle:

• Title transfer and registration

• Adjustments (property tax, utilities, strata)

• Reviewing the mortgage and legal documents

• Preparing your Statement of Adjustments (final numbers)

Step 8: Finalize Your Mortgage

Leading up to closing, your lender will:

• Finalize the loan amount

• Send funds to your lawyer

• Review property insurance (mandatory)

• Confirm that your income and job status haven’t changed

Tip: Avoid large purchases or taking on new debt during this period (e.g., don’t finance a new car before closing).

Step 9: Completion Day

This is when ownership officially changes hands. Your mortgage funds are released, the property is transferred to your name, and you get the keys.

Step 10: Possession Day — Move In!

Congrats! This is the day your contract states you take possession (often 1–3 days after completion). Your REALTOR® will give you the keys and do a walk-through if requested.

FAQs for Home Buyers in BC

Q: Do I need a 20% down payment in BC?
A: No. The minimum is 5% for homes under $500,000. However, anything below 20% will require mortgage insurance (CMHC, Sagen, or Canada Guaranty).

Q: How long does the home buying process take?
A: Anywhere from 30 to 90+ days depending on your financing, offer conditions, and possession schedule.

Q: Can I buy a home with someone else?
A: Yes, co-ownership is common. Make sure legal agreements are clear about who owns what % and who’s responsible for the mortgage.

Ready to Begin Your Home Search?

Whether you're buying a downtown condo, a family home in East Van, or an investment property in Burnaby, I’d love to walk you through the process.

📞 Contact | 778-836-8965 | Ian Iacovitti
       REALTOR® | Coastal Key Homes

Steady Summer Signals Opportunity for Buyers

The Vancouver real estate market continued showing signs of stability in July. While sales activity remains slightly below long-term averages, we’re witnessing a slow and steady recovery. This is creating unique opportunities for both homebuyers and sellers.

Key Numbers at a Glance

• Total Home Sales (July 2025): 2,286
  ↳ Down just 2% from July 2024

• New Listings: 5,642 ( UP 0.8% from last year)

• Active Listings: 17,168 ( UP 19.8% from last year)

• Sales-to-Active Listings Ratio:

  • Detached Homes: 10.2%

  • Townhomes: 16.7%

  • Apartments: 15.9%

***A balanced market typically sits between 12–20%. This means we’re seeing relatively neutral conditions — giving buyers a good amount of selection without intense bidding wars.

Benchmark Prices (Greater Vancouver)

Prices have cooled slightly since last year, with detached homes and condos seeing the largest dips. However, with interest rates likely to remain stable in the short term, this could signal a great entry point for buyers looking for new homes in Vancouver or surrounding areas.

Why This Market Favors Buyers (For Now)

• Inventory is High: 17,000+ homes on the market means more choice and negotiating power.

• Prices Are Softening: Most property types are down 2–4% year-over-year.

• Sales Are Recovering: While still below the 10-year average, activity has picked up from earlier in the year.

If you’ve been sitting on the sidelines waiting for a better time to buy — this might be it.

Market Highlights By Area

• North Vancouver: Benchmark price $1.37M (▼ 1% YoY)

• Burnaby: East saw a slight increase in townhome prices, up 1.9% month-over-month.

• Coquitlam & Maple Ridge: Still affordable compared to the core with townhomes and apartments under $800K in some areas.

Whether you're a first-time buyer or upgrading to a detached home, suburban markets continue to offer strong value.

What to Watch For

“Although sales activity is now recovering, this healthy level of inventory is sufficient to keep home prices trending sideways... But if buyer demand increases, this could quickly shift in favour of sellers.”
— Andrew Lis, Director of Economics, GVR

If you're considering listing your property, the window of buyer-friendly conditions may be narrowing. Now is the time to plan your next move.

Thinking About Buying or Selling?

If you're curious about your property's value, exploring homes in areas like Burnaby, Kitsilano, North Vancouver, or looking for new homes in Vancouver, let’s connect.

Contact Ian Iacovitti – your local REALTOR® at Coastal Key Homes for market advice, buying strategy, or a free home valuation.