Metro Vancouver & Lower Mainland Condo Market — Mid‑2025 Outlook

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!