A new report from the British Columbia Real Estate Association (BCREA) indicates that B.C.'s real estate sales are picking up in some areas, with a 1.3% year-over-year increase in residential MLS sales in June 2025. However, the average price was down 4.2%. Vancouver Island and Northern B.C. saw substantial gains, while Metro Vancouver is lagging, with sales significantly below normal levels. The reason for Metro Vancouver's lag is unclear, but BCREA Chief Economist Brendon Ogmundson suggests the threat of United States tariffs might be causing buyer uncertainty.
‘Metro Vancouver is really lagging’: B.C. sees real estate gains in some areas: Report
Vancouver
AI Summary
TL;DR: Key points with love ❤️A new report from the British Columbia Real Estate Association (BCREA) indicates that B.C.'s real estate sales are picking up in some areas, with a 1.3% year-over-year increase in residential MLS sales in June 2025. However, the average price was down 4.2%. Vancouver Island and Northern B.C. saw substantial gains, while Metro Vancouver is lagging, with sales significantly below normal levels. The reason for Metro Vancouver's lag is unclear, but BCREA Chief Economist Brendon Ogmundson suggests the threat of United States tariffs might be causing buyer uncertainty.
- 1 June 2024: Average MLS residential price in B.C. was $995,614.
- 2 June 2025: 7,162 residential MLS sales recorded (1.3% increase year-over-year); average MLS residential price was $954,065 (4.2% decrease year-over-year); sales dollar volume was $6.8 billion (3% decrease from previous year).
- 3 July 15, 2025: BCREA report published.
- Average MLS residential price in B.C. was down 4.2% at $954,065 compared to June 2024
- Sales dollar volume was $6.8 billion, a 3% decrease from the previous year
- BC MLS unit sales were 23% lower than the ten-year June average
What: British Columbia's real estate sales are picking up in some areas, but Metro Vancouver is lagging significantly.
When: June 2025 (data period), report published July 15, 2025.
Where: British Columbia, specifically Vancouver Island, Victoria, Northern B.C., Okanagan, interior B.C., and Metro Vancouver.
Why: The reason for Metro Vancouver's lag is unclear, but BCREA Chief Economist Brendon Ogmundson believes the threat of United States tariffs is causing buyers to hit pause due to uncertain future finances.
How: New data from the British Columbia Real Estate Association (BCREA) report, which analyzed 7,162 residential MLS sales in June 2025.