What changed. Why it matters. How to think about it.

Market-Wide Overview — Everything Covered in This Report

December didn't surprise the market. It confirmed what had been forming all year.

Across all the areas covered in this report — Vancouver (West, East, Downtown), West Vancouver, North Vancouver, Richmond, Ladner, and Tsawwassen — activity slowed seasonally, prices softened compared to 2024, and buyer behaviour became more deliberate.

That doesn't describe a weak market. It describes a selective one.

The biggest shift in 2025 wasn't price — it was patience. Buyers stopped rushing. Sellers who adjusted to that reality did fine. Sellers who waited for urgency that never came watched their homes sit.

Homes priced to sell sold. Homes priced on hope didn't.

City of Vancouver — West Side

Attached Homes (Condos & Townhomes)

The Westside attached market spent most of 2025 recalibrating after a strong 2024.

By December, sales ratios sat in balanced territory. Prices were lower than last year. Buyers were active — but careful.

The Westside name doesn't carry the premium it used to. Location and layout matter more than the postal code now.

A well-located, well-laid-out unit priced realistically still moves. A similar unit priced as if it's 2022 does not.

What this means in real life: Buyers are comparing more. Sellers don't get automatic benefit of the doubt anymore.

Detached Homes

Westside detached faced the hardest adjustment.

High price points, elevated inventory, and fewer urgency-driven buyers pushed this segment firmly into buyer-leaning territory. That doesn't mean nothing sells — it means buyers set the pace.

The data shows fewer sales, longer decision cycles, and meaningful price softening compared to last year.

Here's what's happening: Buyers have options, time, and information. Sellers who respect that are closing deals. Sellers waiting for urgency that isn't coming are watching homes sit.

City of Vancouver — East Side

Detached Homes

East Van detached remained the most predictable house market in 2025.

Prices softened modestly. Inventory stayed elevated. Buyers took their time — but didn't disappear.

Demand softened, but it didn't vanish. Buyers here run the math — duplex potential, renovation costs, land value. When the price justifies the work, homes move. When it doesn't, they don't.

Quiet truth: East Van doesn't reward optimism. It rewards realism.

Attached Homes

East Van attached showed some of the healthiest momentum in the city.

Sales ratios were stronger than the Westside in several segments, driven by affordability and practicality. Entry-level condos and family-oriented townhomes attracted steady interest.

Well-priced units in walkable areas moved consistently. Premium finishes didn't justify premium prices anymore.

Even in the strongest segments, pricing discipline mattered.

Downtown Core

(Downtown, Yaletown, Coal Harbour, West End)

Downtown is where expectations were tested the most in 2025.

By December, the market sat squarely in balanced territory. Median prices were down compared to 2024. One-bed units sold more consistently than larger layouts. Premium towers lagged.

This wasn't fear. It was choice.

With inventory up, buyers can afford to be picky. They're comparing buildings, strata fees, layouts, and price per square foot like they're shopping on spreadsheets — because they are.

What this means: Downtown isn't weak — it's disciplined again.

By neighbourhood:

Yaletown held firm — walkability and amenities kept it competitive.

The West End stayed active because of relative affordability and lifestyle appeal.

Coal Harbour lagged and required sharper pricing to move inventory.

Downtown isn't one market. Each pocket behaves differently, and December made that clear.

Other Areas Worth Watching

West Vancouver's detached market stayed buyer-leaning at higher price points. Selectivity wasn't news here — it was the baseline. Homes that justified their price sold. Homes that didn't, didn't.

North Vancouver showed pockets of genuine demand, driven by lifestyle buyers rather than speculation. The market here responded to quality and location, not headlines.

Richmond's monthly volatility reflected low December sales counts, not sudden shifts. Small sample sizes exaggerate percentages — read the trend, not the month.

Ladner and Tsawwassen saw some homes sell over asking even in slower conditions. That's not momentum — it's scarcity. When inventory is thin and the right buyer shows up, outliers happen.

The lesson across all these areas is simple: one month never tells the whole story.

Buyer & Seller Playbook (Straight Talk)

If you're buying: You don't need to rush. You do need clarity. Good homes still attract competition, but leverage exists on anything priced ahead of the market. Know what you're looking for and move when it shows up.

If you're selling: The market won't meet you halfway anymore. The first price you list is the most important decision you'll make. Get it wrong and you're chasing the market down for months. Pricing isn't optimism — it's strategy.

Final Thought

Markets don't crash quietly. They normalize slowly.

December wasn't dramatic — and that's the point. It showed where leverage sits, where expectations belong, and where realism is being rewarded again.

If you're wondering where you fit in this market, let's talk. Your situation isn't generic — neither is the answer.

Want to go deeper?

• If you’d like to review the full detailed reports, you can access them here:

Vancouver Market (this report) → View FULL report
Greater Vancouver Market → VIEW FULL REPORT
Fraser Valley Market → View full report

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