Y2025年全年溫哥華房地產市場報告 Y2025 Year-end The Greater Vancouver REALTORS® (GVR) Reports

 2025年全年房屋銷售總量創二十多年來新低

2025 saw lowest annual sales total in over two decades

大溫哥華地區透過多重上市服務系統（MLS®）登記的房屋銷售量在2025年年減10%，創下二十多年來的最低年度銷售總量。 大溫哥華房地產經紀人協會（GVR）報告稱，該地區2025年的住宅銷售總量為23,800套，較2024年的26,561套下降10.4%，較2023年的26,249套下降9.3%。 去年的銷售總量比過去十年的年均銷售量（31,625套）低24.7%。 Home sales registered in the Multiple Listing Service® (MLS®) in Metro Vancouver finished the year down 10 per cent, marking the lowest annual sales total in over twenty years. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 23,800 in 2025, a 10.4 per cent decrease from the 26,561 sales recorded in 2024, and a 9.3 per cent decrease from the 26,249 sales in 2023.  Last year’s sales total was 24.7 per cent below the 10-year annual sales average (31,625). 「今年註定載入史冊，」GVR首席經濟學家兼數據分析副總裁安德魯·利斯表示。儘管銷售總量創下二十多年來的最低水平，但房地產經紀人依然忙於掛牌出售房產。賣家掛牌出售的房源數量創下自上世紀90年代中期以來的最高紀錄，比2008年創下的先前最高紀錄高出1000多套。 2025年，大溫哥華地區MLS®掛牌房產總數達到65,335套，比2024年的60,388套增長8.2%，比2023年的50,893套增長28.4%。 去年掛牌房產總數比該地區過去十年的年均總數（57,782套）高出13.1%。 目前，大溫哥華地區MLS®系統上待售房屋總數為12,550套，較2024年12月（10,948套）成長14.6%，比十年平均（9,308套）高出34.8%。 “This year was one for the history books,” said Andrew Lis, GVR’s chief economist and vice-president, data analytics. “Although the sales total was the lowest in over two decades, Realtors were still busy listing properties. Sellers brought the highest total of listings to market on record since the mid-1990s, eclipsing the previous record high in 2008 by a little over 1,000 listings.” Properties listed on the MLS® in Metro Vancouver totalled 65,335 in 2025. This represents an 8.2 per cent increase compared to the 60,388 properties listed in 2024. This was 28.4 per cent above the 50,893 properties listed in 2023.  The total number of properties listed last year was 13.1 per cent above the region’s 10-year total annual average of (57,782). Currently, the total number of homes listed for sale on the MLS® system in Metro Vancouver is 12,550, a 14.6 per cent increase compared to December 2024 (10,948). This is 34.8 per cent above the 10-year seasonal average (9,308).  「我們去年1月發布的預測指出存在可預見的下行風險，雖然當時的預測頗具前瞻性，但不幸的是，這一風險在2025年變成了現實，」利斯表示。 「具體而言，我們指出與美國的貿易緊張局勢可能會對銷售和價格產生負面影響，而這一下行風險最終還是發生了。不過，好消息是，這些貿易緊張局勢的負面影響似乎正在緩解，消費者信心在下半年也略有改善。” “The forecast we put out last January noted a foreseeable downside risk, which while prescient, unfortunately materialized in 2025,” said Lis. “Specifically, we noted that trade tensions with the USA could negatively impact sales and prices, and this downside risk came to pass. The upshot, however, is that the negative impact of these trade tensions appears to be easing, and consumer sentiment has improved modestly over the second half of the year.”  大溫哥華地區所有住宅物業的MLS®房屋價格指數綜合基準價格目前為1,114,800加幣。這比2024年12月下降了4.5%，比2025年11月下降了0.8%。 「由於銷量下降而庫存仍然充足，自2025年初以來，所有類型物業的價格均有所回落。銷量和價格並非唯一下降的指標，借貸成本也下降了近一個百分點，」Lis表示。 「價格走低、借貸成本降低，加上充足的庫存選擇，2026年的購房者將迎來有利的開端。這些有利條件能否轉化為更強勁的市場需求，將是關鍵所在——我們將密切關注事態發展。” The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,114,800. This represents a 4.5 per cent decrease over December 2024 and a 0.8 per cent decrease compared to November 2025.  “With sales down and inventory remaining plentiful, prices eased across all property types since the start of 2025. Sales and prices weren’t the only metrics that came down, borrowing costs fell nearly one full percentage point,” said Lis. “With lower prices, lower borrowing costs, and plenty of inventory to choose from, homebuyers in 2026 are starting the year with favorable conditions. Whether these conditions translate into a market with stronger demand will be the million-dollar question – and we’ll be monitoring this story closely as it unfolds.” 2025年12月概況 2025年12月，該地區住宅銷售總量為1,537套，較2024年12月的1,765套下降12.9%。這一數字比過去十年的平均值（1,937套）低20.7%。 2025年12月，大溫哥華地區MLS®系統新增掛牌出售的獨立屋、聯排別墅和公寓數量為1,849套，較2024年12月的1,676套增長10.3%。這一數字也比過去十年的平均值（1,677套）高出10.3%。 2025年12月，所有類型獨立屋、連棟別墅和公寓的銷售與掛牌數量比為12.7%。以房產類型劃分，獨立屋的房屋售價比為 9.3%，連棟房屋為 14.6%，公寓為 15.1%。

December 2025 summary

Residential sales in the region totalled 1,537 in December 2025, a 12.9 per cent decrease from the 1,765 sales recorded in December 2024. This was 20.7 per cent below the 10-year seasonal average (1,937).  There were 1,849 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in December 2025. This represents a 10.3 per cent increase compared to the 1,676 properties listed in December 2024. This was 10.3 per cent above the 10-year seasonal average (1,677).  Across all detached, attached and apartment property types, the sales-to-active listings ratio for December 2025 is 12.7 per cent. By property type, the ratio is 9.3 per cent for detached homes, 14.6 per cent for attached, and 15.1 per cent for apartments. 歷史數據分析表明，當房價與房屋價值比率持續低於12%時，房價將面臨下行壓力；而當該比率連續數月超過20%時，房價則往往會面臨上行壓力。 2025年12月，獨立屋銷售量為431套，較2024年12月的494套下降12.8%。獨立屋基準價格為1,879,800美元。比2024年12月下降5.3%，比2025年11月下降1.1%。 2025年12月，公寓銷售量為791套，較2024年12月的891套下降11.2%。公寓基準價格為710,000美元。比2024年12月下降5.3%，比2025年11月下降0.6%。  2025年12月聯排別墅的銷售總量為303套，比2024年12月的371套下降了18.3%。連棟別墅的基準價格為1,056,600美元。比2024年12月下降了5%，比2025年11月下降了0.8%。 Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.  Sales of detached homes in December 2025 reached 431, a 12.8 per cent decrease from the 494 detached sales recorded in December 2024. The benchmark price for a detached home is $1,879,800. This represents a 5.3 per cent decrease from December 2024 and a 1.1 per cent decrease compared to November 2025.  Sales of apartment homes reached 791 in December 2025, a 11.2 per cent decrease compared to the 891 sales in December 2024. The benchmark price of an apartment home is $710,000. This represents a 5.3 per cent decrease from December 2024 and a 0.6 per cent decrease compared to November 2025. Attached home sales in December 2025 totalled 303, an 18.3 per cent decrease compared to the 371 sales in December 2024. The benchmark price of a townhouse is $1,056,600. This represents a five per cent decrease from December 2024 and a 0.8 per cent decrease compared to November 2025.

2025年11月份溫哥華房地產市場報告 Y2025 Nov - The Greater Vancouver REALTORS® (GVR) reports

 大溫哥華地區*的房屋銷售趨勢在10月份延續至11月份，MLS®（多重上市服務系統）登記的房屋銷售量仍低於去年同期。

大溫哥華房地產經紀人協會（GVR）報告稱，該地區2025年11月的住宅銷售總量為1,846套，較2024年11月的2,181套下降了15.4%。這一數字比過去十年的季節性平均值（2,324套）低了20.6%。

「隨著年末臨近，數據顯示，許多買家仍在耐心等待，而賣家則在適應多年來未曾見過的市場狀況，」GVR首席經濟學家兼數據分析副總裁安德魯·利斯表示。 「庫存仍然充足，為買家提供了豐富的選擇，但這也促使賣家接受定價必須反映這一新的現實。當買賣雙方的預期一致，並且反映的是當前的市場狀況，而不是幾年前的市場狀況時，他們才能達成交易。”

Metro Vancouver* home-sale trends observed in October continued in November, as sales registered on the MLS® remained lower than this time last year.  

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,846 in November 2025, a 15.4 per cent decrease from the 2,181 sales recorded in November 2024. This was 20.6 per cent below the 10-year seasonal average (2,324).  

“As the year draws to a close, the data continues telling a story of a market with many buyers patiently waiting and sellers adjusting to market conditions not seen in years,” said Andrew Lis, GVR’s chief economist and vice-president, data analytics. “Inventory remains healthy, providing buyers ample choice, which, by contrast, is pushing sellers to accept that pricing must reflect this new reality. Buyers and sellers are striking deals when their expectations are aligned and reflective of the current market – not the market of years ago.”

 

房源資訊

2025年11月，大溫哥華地區透過MLS®（多重上市服務系統）新增上市房源3,674套，涵蓋獨立屋、連棟別墅和公寓。與2024年11月的3,725套相比，下降了1.4%。這一數字比過去十年的平均值（3,562套）高出3.1%。

目前，大溫哥華地區MLS®系統上共有15,149套待售房產，較2024年11月的13,245套成長了14.4%。這一數字比過去十年的平均值（11,116套）高出36.3%。

Listings

There were 3,674 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2025. This represents a 1.4 per cent decrease compared to the 3,725 properties listed in November 2024. This was 3.1 per cent above the 10-year seasonal average (3,562).   

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 15,149, a 14.4 per cent increase compared to November 2024 (13,245). This is 36.3 per cent above the 10-year seasonal average (11,116).   

成交量與在售房源數量之比

2025年11月，所有類型獨立屋、連棟別墅和公寓的成交量與在售房源數量之比為12.6%。按物業類型劃分，獨立屋的房屋銷售比率為 9.7%，聯排別墅為 13.6%，公寓為 14.8%。

歷史數據分析表明，當房屋銷售比率持續低於 12% 時，房價將面臨下行壓力；而當該比率連續數月超過 20% 時，房價往往會面臨上行壓力。

「由於銷售量持續低迷，庫存仍然充足，房產銷售週期延長，大多數細分市場的價格持續小幅走軟，」利斯表示。 “鑑於借貸成本可能在新的一年保持穩定，任何需求的增長都必須源於買家情緒的顯著變化。由於 12 月通常是一年中市場活動最清淡的月份之一，目前的趨勢表明，我們應該預期在充滿不確定性的一年後，市場將以平靜的姿態收尾。”

Sales-to-active listings ratio

Across all detached, attached and apartment property types, the sales-to-active listings ratio for November 2025 is 12.6 per cent. By property type, the ratio is 9.7 per cent for detached homes, 13.6 per cent for attached, and 14.8 per cent for apartments.  

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.   

“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,” Lis said. “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. As December is typically among the quietest months of the year in terms of market activity, the prevailing trends suggest we should expect a quiet close to a year marked by considerable uncertainty.”   

MLS® 房屋價格指數綜合基準

大溫哥華地區所有住宅物業的 MLS® 房屋價格指數綜合基準價格目前為 1,123,700 加幣。這比2024年11月下降了3.9%，比2025年10月下降了0.3%。

 

按物業類型劃分

2025年11月獨立屋銷量為541套，比2024年11月的626套下降了13.6%。獨立屋基準價格為1,900,600美元。這比2024年11月下降了4.3%，比2025年10月下降了0.4%。

2025年11月公寓銷售量為945套，比2024年11月的1,089套下降了13.2%。公寓基準價格為714,300美元。這比2024年11月下降了5.2%，比2025年10月下降了0.2%。

2025年11月聯排別墅的銷售總量為350套，比2024年11月的451套下降了22.4%。聯排別墅的基準價格為1,065,600美元。比2024年11月下降了4.4%，比2025年10月上漲了0.1%。

MLS® Home Price Index composite benchmark

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,123,700. This represents a 3.9 per cent decrease over November 2024 and a 0.3 per cent decrease compared to October 2025.   

By property type

Sales of detached homes in November 2025 reached 541, a 13.6 per cent decrease from the 626 detached sales recorded in November 2024. The benchmark price for a detached home is $1,900,600. This represents a 4.3 per cent decrease from November 2024 and a 0.4 per cent decrease compared to October 2025.   

Sales of apartment homes reached 945 in November 2025, a 13.2 per cent decrease compared to the 1,089 sales in November 2024. The benchmark price of an apartment home is $714,300. This represents a 5.2 per cent decrease from November 2024 and a 0.2 per cent decrease compared to October 2025.   

Attached home sales in November 2025 totalled 350, a 22.4 per cent decrease compared to the 451 sales in November 2024. The benchmark price of a townhouse is $1,065,600. This represents a 4.4 per cent decrease from November 2024 and a 0.1 per cent increase compared to October 2025.