1. Price Trends & Market Conditions
In June 2025, the apartment/condo benchmark price across Metro Vancouver was approximately $748,400, down 3.2% year‑over‑year and 1.2% month-over-mont.
The composite benchmark for all home types was $1,173,100, down 2.8% annually and 0.3% monthly, confirming a buyer‑favored market.
Greater Vancouver saw 2,181 home sales in June (including condos), down 9.8% from the previous year, while new listings rose 10.3% year‑over‑year, pushing active inventory up 23.8%.
Sales-to-new-listings ratio (SNLR): just 35%—far below the 40% threshold for a balanced market, signaling an active buyer’s market.
2. Segment Breakdown: Apartments vs Townhomes vs Houses
3. Lower Mainland Regional Snapshot
Langley condos reflect broader trends: falling sales (-25% YoY), rising listings (+37%), and benchmark prices near $605K–$611K with average sale prices around $560K (–6% YoY) .
These figures align with the Metro Vancouver data—oversupply, sluggish demand, and downward pricing pressure across the region.
4. Underlying Market Drivers
High mortgage rates, economic uncertainty, and tariff concerns are dampening buyer motivation for condos and other resale homes.
Investor activity remains significant—nearly 48% of condos in Vancouver are investor-owned—inflating supply while crowding out first-time buyers.
Metro Vancouver population has grown 7% since 2016 (2.64 million in 2021), but housing prices and mortgage stress limit actual absorption capacity.
Meanwhile, affordable housing need is rising: as of March 2024, 21,500+ households were on the BC Housing registry—up 66% since 2020. Langley and Delta saw registry growth 10 to 18× faster than household growth.
5. Implications for Buyers, Sellers & Investors
Buyers
Abundant inventory, softening prices, and strong negotiation leverage.
Lower Mainland condos are increasingly affordable—but prices may bottom further before rebounding.
Sellers
Must be price‑competitive from the start; stale listings risk sinking amid oversupply.
Key: Presentation, marketing quality, and realistic pricing are more important than ever.
Investors & Developers
Oversupply and extended absorption timelines may impact ROI.
Watch for rate reductions—demand is likely to pick up once mortgage servicing costs decline.
Final Takeaways
The Lower Mainland condo market is firmly in buyer’s territory: rising supply, fewer sales, and softening prices.
The shift is driven by economic uncertainty, high interest rates, and a surplus of listings, especially in the investment-heavy condo segment.
Recovery may hinge on incoming interest rate cuts and renewed buyer confidence later in 2025.
Looking for Expert Insight?
Navigating this evolving market requires a savvy REALTOR® who can help you interpret hyper-local data, price strategically, and plan for what's next—whether you’re buying, selling, or investing.
Contact me at 778-836-8965 for a personalized consultation—I can provide:
Detailed neighborhood data, by city or neighbourhood.
Tailored strategy depending on your goals.
Updates on upcoming rate shifts and demand signals.
Let’s chat—I'd love to help you seize opportunities in this dynamic market!