British Columbia Housing Market Report

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B.C. Housing Market Breakdown by Region for April 2025

View Home Listings in BC

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View Home Listings in BC

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British Columbia's housing market saw the average home price decrease to $942,884 in April 2025, the lowest level seen since August 2024. This represents a monthly decline of 2.1% compared to March 2025's $963,323, with prices down 6.1% on an annual basis compared to April 2024. The benchmark home price in British Columbia also declined to $968,600, down 0.2% month-over-month and down 1.5% year-over-year.

There were 6,453 sales recorded in BC's housing market in April 2025, a 9.1% increase from March 2025, though still down 14.6% compared to April 2024. The British Columbia Real Estate Association (BCREA) noted that more expensive regions, such as Greater Vancouver and the Fraser Valley, are seeing larger declines in sales activity compared to other regions in B.C.

The most recent data indicates that active listings continued their upward trend, with BC's housing inventory standing at 43,608 units by the end of April 2025, maintaining the market's shift toward buyer-friendly conditions. That’s 21% higher year-over-year. Meanwhile, BC’s sales-to-active listings ratio dropped to 14.8% from 20.9% a year earlier.

Greater Vancouver’s housing market, the province's largest and most expensive market, had an average price of $1,211,073 (down 7.4% year-over-year) with sales falling 23.6% year-over-year. Greater Vancouver’s active listings surged 38% annually to 16,207 units. Other major markets showed varying performance year-over-year: Chilliwack saw sales decline 18.5% and Kamloops saw sales decline 8.5%, while Okanagan sales experienced 3.6% sales growth.

The total sales dollar volume throughout British Columbia for April 2025 was $6.1 billion, down 19.7% from the same time last year.

British Columbia: Seller’s or Buyer’s Markets?

Real estate markets across British Columbia vary regionally, with differences in average prices, active listings, and sales-to-active listings ratios. The following numbers reflect year-over-year changes comparing April 2025 to April 2024.

1. Average Price: $439,426 (up 1.1%)

2. Active Listings: 1,829 units (down 5%)

3. Sales to Active Listings Ratio: 20.1% (up from 18.5%)

1. Average Price: $785,954 (up 1.9%)

2. Active Listings: 1,230 units (up 8.9%)

3. Sales to Active Listings Ratio: 18.6% (down from 24.9%)

1. Average Price: $1,008,003 (down 3.9%)

2. Active Listings: 8,569 units (up 41.2%)

3. Sales to Active Listings Ratio: 11.4% (down from 23%)

1. Average Price: $1,211,073 (down 7.4%)

2. Active Listings: 16,207 units (up 38%)

3. Sales to Active Listings Ratio: 13.8% (down from 22.6%)

Interior

1. Average Price: $760,068 (up 1.4%)

2. Active Listings: 6,224 units (up 9.8%)

3. Sales to Active Listings Ratio: 12.9% (down from 13.6%)

1. Average Price: $632,131 (up 1.4%)

2. Active Listings: 1,252 units (down 0.5%)

3. Sales to Active Listings Ratio: 17.2% (down from 18.7%)

1. Average Price: $570,817 (down 3.3%)

2. Active Listings: 1,559 units (up 9.6%)

3. Sales to Active Listings Ratio: 16.8% (down from 18.7%)

1. Average Price: $301,788 (up 17.5%)

2. Active Listings: 206 units (down 6.8%)

3. Sales to Active Listings Ratio: 18.9% (up from 15.4%)

1. Average Price: $656,819 (down 5.6%)

2. Active Listings: 212 units (up 34.2%)

3. Sales to Active Listings Ratio: 17.5% (down from 20.9%)

Vancouver Island and Victoria

1. Average Price: $748,450 (up 1.9%)

2. Active Listings: 3,565 units (up 4.7%)

3. Sales to Active Listings Ratio: 21.3% (up from 21.2%)

1. Average Price: $1,061,449 (up 7.9%)

2. Active Listings: 2,755 units (up 16.5%)

3. Sales to Active Listings Ratio: 22% (down from 27.2%)

1. Average Price: $942,884 (down 6.1% year-over-year)

2. Active Listings: 43,608 units (up 20.8% from April 2024)

3. Sales to Active Listings Ratio: 14.8% (down from 20.9%)
4. Dollar Volume: $6,084,429,000 (down 19.7% year-over-year)
5. Unit Sales: 6,453 (down 14.6% from April 2024)

While the provincial average price declined by 6.1% year-over-year, several regions showed price growth. South Peace led at 17.5%, alongside Victoria at 7.9%. Greater Vancouver experienced the largest price decline at 7.4%, significantly impacting the provincial average.

The Fraser Valley continues to see substantial inventory growth with active listings up 41.2% compared to April 2024, while Greater Vancouver's active listings increased by 38% year-over-year.

Sales-to-active-listings ratios decreased across most markets compared to last year, indicating a continued shift toward more buyer-friendly conditions throughout the province. However, BC Northern, South Peace, and Vancouver Island showed relatively stable or increased ratios compared to last year. The dramatic difference in market performance between regions highlights the localized nature of real estate markets and suggests that economic factors, including tariff concerns mentioned by the BCREA, are impacting larger urban centers, notably Greater Vancouver, more severely than some rural and resource-based communities.

Total unit sales across the province dropped by 14.6% year-over-year to 6,453, with dollar volume declining 19.7% to $6.08 billion, reflecting continued hesitancy among homebuyers in the current market conditions.