British Columbia's real estate market continues to experience a significant downturn, with sales in November 2025 falling 13.3% compared to the previous year and remaining a substantial 25% below the decade-long average. This stagnation is attributed by many to ongoing economic uncertainty, with some linking it to the policies and rhetoric surrounding the U.S. presidency.
Key Takeaways
- Residential sales across B.C. are down 13.3% year-over-year in November 2025.
- Sales are 25% lower than the 10-year average for November.
- The economic uncertainty, partly linked to the "Trump effect," is cited as a major contributing factor.
- Despite falling sales, prices have seen only minor fluctuations, with some areas experiencing slight increases.
Provincial Sales Performance
In November 2025, British Columbia recorded 5,052 residential sales, a notable decrease from the 5,827 sales in November 2024. The total dollar volume also saw a decline of 14.5% year-over-year, reaching $4.9 billion. This trend is consistent across various regions, including the Lower Mainland.
The Greater Vancouver Real Estate Board (GVREB) experienced a 15.1% drop in sales, while the Fraser Valley Real Estate Board (FVREB) saw a 16.8% decrease, and the Chilliwack and District Real Estate Board (CADREB) reported a 14.5% decline. BCREA chief economist Brendon Ogmundson noted that sales in every region fell short of historical averages.
Regional Breakdown and Long-Term Trends
The 25% drop in sales compared to the 10-year average is a provincewide issue. In the GVREB area, sales matched this provincial average. However, the CADREB area saw a steeper decline of 31%, and the FVREB area experienced a 33% drop.
To illustrate the long-term trend:
- Greater Vancouver: The 10-year November average is 2,472 sales; last month saw 1,846.
- Fraser Valley: The 10-year November average is 1,340 sales; last month saw 892.
- Chilliwack: The 10-year November average is 238 sales; last month saw 165.
Impact on Home Prices
Despite the significant drop in sales volume, the impact on home prices has been less pronounced. The average sale price for all homes in British Columbia in November 2025 was $965,914, a slight decrease of 1.4% from the previous year. This provincial average is heavily influenced by the high-priced Greater Vancouver and Fraser Valley markets.
- Greater Vancouver: Average price was $1,235,575, down 3.4%.
- Fraser Valley: Average price was $1,022,206, down 1%.
- Chilliwack: Average price was $784,715, up 2.3%.
- Victoria: Average price was $994,848, up 3.5%.
- Kamloops: Average price was $610,906, up 5.3%.
- Okanagan: Average price was $763,517, up 6.9%.
While economic headwinds persist, there is hope that stable interest rates and reduced trade uncertainty with the U.S. could stimulate the market in 2026.
