British Columbia Housing Market Report

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

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View Home Listings in BC

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British Columbia's housing market had an average home price of $959,058 in May 2025. This represents a monthly increase of 1.7% compared to April 2025, although prices are still down 4.3% on an annual basis compared to May 2024. This makes BC and Ontario the only provinces to see a year-over-year decrease in their average home prices for May 2025. The benchmark home price in British Columbia also declined to $963,500, down 0.5% month-over-month and down 2.2% year-over-year.

There were 6,945 sales recorded in BC's housing market in May 2025, a 7.6% increase from April 2025, though still down 13.5% compared to May 2024. That’s the largest year-over-year decrease in sales among the provinces for May 2025. The British Columbia Real Estate Association (BCREA) noted that more expensive regions, particularly the Lower Mainland, 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 46,919 units by the end of May 2025, maintaining the market's shift toward buyer-friendly conditions. That’s 18.5% higher year-over-year. Meanwhile, BC’s sales-to-active listings ratio dropped to 14.8% from 20.3% a year earlier.

Greater Vancouver’s housing market, the province's largest and most expensive market, had an average price of $1,266,441 (down 5.9% year-over-year) with sales falling 18.5% year-over-year. Greater Vancouver’s active listings surged 26% annually to 17,094 units. Other major markets showed varying performance year-over-year: Chilliwack saw sales decline 37.8% and Kamloops saw sales decline 13.6%, while Kootenay and Powell River saw positive sales growth.

The total sales dollar volume throughout British Columbia for May 2025 was $6.66 billion, down 17.1% 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 May 2025 to May 2024.

1. Average Price: $447,072 (up 6.8% year-over-year)

2. Active Listings: 2,091 units (down 0.5% from May 2024)

3. Sales to Active Listings Ratio: 19.7% (down from 23.4% in May 2024)

1. Average Price: $771,351 (down 7.1% year-over-year)

2. Active Listings: 1,413 units (up 19.4% from May 2024)

3. Sales to Active Listings Ratio: 12.8% (down from 24.6% in May 2024)

1. Average Price: $1,000,762 (down 6.9% year-over-year)

2. Active Listings: 9,076 units (up 37.4% from May 2024)

3. Sales to Active Listings Ratio: 12.3% (down from 21.6% in May 2024)

1. Average Price: $1,266,441 (down 5.9% year-over-year)

2. Active Listings: 17,094 units (up 26% from May 2024)

3. Sales to Active Listings Ratio: 13% (down from 19.9% in May 2024)

Interior

1. Average Price: $793,566 (up 5.8% year-over-year)

2. Active Listings: 6,752 units (up 7% from May 2024)

3. Sales to Active Listings Ratio: 13.3% (down from 14.6% in May 2024)

1. Average Price: $626,257 (up 3.0% year-over-year)

2. Active Listings: 1,415 units (up 2.7% from May 2024)

3. Sales to Active Listings Ratio: 16.6% (down from 19.7% in May 2024)

1. Average Price: $567,285 (up 0.6% year-over-year)

2. Active Listings: 1,712 units (up 6.5% from May 2024)

3. Sales to Active Listings Ratio: 18.1% (down from 18.7% in May 2024)

1. Average Price: $333,507 (up 8.7% year-over-year)

2. Active Listings: 209 units (down 7.1% from May 2024)

3. Sales to Active Listings Ratio: 20.1% (down from 20.9% in May 2024)

1. Average Price: $635,230 (up 17.8% year-over-year)

2. Active Listings: 239 units (up 38.2% from May 2024)

3. Sales to Active Listings Ratio: 15.5% (down from 19.1% in May 2024)

1. Average Price: $771,575 (up 2.2% year-over-year)

2. Active Listings: 3,895 units (up 4.4% from May 2024)

3. Sales to Active Listings Ratio: 19.4% (down from 21.3% in May 2024)

1. Average Price: $1,015,281 (down 1.1% year-over-year)

2. Active Listings: 3,023 units (up 12.5% from May 2024)

3. Sales to Active Listings Ratio: 24.1% (down from 27.6% in May 2024)

1. Average Price: $959,058 (down 4.3% year-over-year)

2. Active Listings: 46,919 units (up 18.5% from May 2024)

3. Sales to Active Listings Ratio: 14.8% (down from 20.3% in May 2024)

4. Dollar Volume: $6.66 billion (down 17.1% year-over-year)

5. Unit Sales: 6,945 (down 13.5% from May 2024)

The BC residential market in May 2025 shows continued signs of a buyer's market, with inventory levels rising significantly across most regions while sales activity remains subdued. The provincial average price declined by 4.3% year-over-year to $959,058, though this represents a smaller decline than seen in previous months.

Price Growth Leaders: Powell River experienced the strongest annual price growth at 17.8%, followed by South Peace at 8.7% and BC Northern at 6.9%. Okanagan also showed solid gains at 6.5%. These smaller markets continue to demonstrate resilience compared to major urban centers.

Inventory Surge: Active listings increased substantially across most regions, with Powell River leading at 38.2% annual growth, followed by Fraser Valley at 37.4% and Greater Vancouver at 26%. This inventory buildup continues to pressure sales-to-active-listings ratios downward.

Sales Activity: The provincial sales-to-active-listings ratio fell to 14.8% from 20.3% a year earlier, indicating a significant shift toward buyer-favorable conditions. Victoria maintained the highest ratio at 24.1%, though even this represents a decline from 27.6% the previous 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.