BC residential sales up in July, but average prices decline: report

August 13, 2025

RED FM News Desk

The British Columbia Real Estate Association (BCREA) reports a mixed market for July, with residential sales increasing year-over-year while the average price of homes saw a slight decline.

According to a new report, there were 7,056 residential unit sales recorded in Multiple Listing Service® (MLS®) systems in July, a 2.2% increase from July 2024. However, the average MLS® residential price in BC dropped by 2.1% to $942,686, down from $963,047 in the same month last year.

The total sales dollar volume was $6.7 billion, remaining virtually unchanged from the previous year. Despite the increase in sales over the last year, BCREA noted that BC’s MLS® unit sales were still 16% lower than the ten-year average for July.

BCREA Chief Economist Brendon Ogmundson commented on the market’s performance, stating, “Housing markets across BC continue to build momentum through the summer, with all regions apart from the Lower Mainland boasting higher sales activity from the previous year.” He added that with a “stable trajectory for monetary policy,” he expects sales to continue improving as economic uncertainties fade.

Year-to-date figures show a more significant decrease across the board. BC residential sales dollar volume is down 9.4% to $40.8 billion compared to the same period in 2024. Residential unit sales are down 5.7% year-over-year, and the average MLS® residential price is also down 3.9% to $952,323.