Vancouver home sales down 15% in November from last year as prices move lower: board

In a photo taken by drone, Vancouver homes in the Kitsilano neighbourhood of Vancouver are pictured. THE CANADIAN PRESS/Jonathan Hayward

VANCOUVER — Vancouver-area home sales remained subdued despite “plentiful” inventory in November, as prices also declined last month.

Greater Vancouver Realtors said there were 1,846 home sales in the region last month, down 15.4 per cent from November 2024 and 20.6 per cent below the 10-year seasonal average.

The composite benchmark price for all residential properties was $1,123,700, down 3.9 per cent from this time last year and 0.3 per cent lower than October.

The board’s chief economist and vice-president of data analytics Andrew Lis said the data “continues telling a story of a market with many buyers patiently waiting and sellers adjusting to market conditions not seen in years.”

The 3,674 new listings on the market last month were down 1.4 per cent from a year earlier but still 3.1 per cent above the 10-year average.

Total inventory grew 14.4 per cent year-over-year to 15,149. That was 36.3 per cent above the 10-year seasonal average.

“Inventory remains healthy, providing buyers ample choice, which, by contrast, is pushing sellers to accept that pricing must reflect this new reality,” said Lis in a press release.

“As sales volumes remain subdued and inventory remains plentiful, properties are taking longer to sell, and pricing has continued to soften slightly across most market segments.”

The benchmark price for detached homes was $1,900,600, down 4.3 per cent from a year earlier. The benchmark price for condos was $714,300, down 5.2 per cent from last year.

The benchmark price of a townhouse fell 4.4 per cent year-over-year to $1,065,600.

“With borrowing costs likely to remain steady into the new year, any uptick in demand will need to arise from a significant change in buyer sentiment,” said Lis.

This report by The Canadian Press was first published Dec. 2, 2025.