With summer in full swing, many British Columbians are asking: Is now a good time to buy or sell real estate? The answer depends on your goals, your location, and your timing. Here's what’s happening right now across the province.

Market Snapshot – August 2025

• Prices: Average home prices in BC are flat to slightly down. Greater Vancouver is seeing a ~2% decline, while Northern BC and the Okanagan remain more stable.

• Inventory: We’re now seeing the highest number of active listings in over a decade—a clear signal that buyers have more choice.

• Sales Activity: Year-over-year sales are down slightly (~1.1%), but some areas are holding steady or even bouncing back (e.g. Victoria, Kootenay region).

• Interest Rates: The Bank of Canada has now cut rates three times, making mortgages more attractive—but affordability still remains tight in major urban centres.

️ Balanced Market or Buyer’s Advantage?

In many parts of BC, the market is shifting:

• Sellers need to be realistic on price and presentation—homes sitting longer on the market unless priced sharply.

• Buyers finally have leverage—room to negotiate, more inventory to pick from, and slightly lower borrowing costs.

If you’ve been waiting on the sidelines, this might be your window—especially in markets where listings are piling up faster than sales.

What’s Moving?

• Entry-level condos and townhomes under $800K are still attracting attention—especially from first-time buyers.

• Luxury detached properties are moving slower unless priced aggressively.

• Investors are tiptoeing back in, especially in Victoria and parts of the Okanagan, where rental demand remains high and short-term rental rules are stabilizing.

Advice for Buyers & Sellers Right Now

Buyers:

• Get pre-approved now—rates are lower, but qualifying still isn’t easy.

• Look beyond Vancouver: areas like Langford, Chilliwack, or Nanaimo offer better value.

• Don’t rush, but don’t wait for a "crash"—we’re in a slow correction, not a free fall.

Sellers:

• Price to the market, not the past—overpricing is a deal killer right now.

• Staging and presentation matter more than ever—buyers are picky and have options.

• If you're upsizing, this could actually work in your favour—sell lower, but buy even better.