Over 80% of Metro Vancouver homes sold below final asking price in 2025
Both the jurisdictions of Greater Vancouver Realtors and the Fraser Valley Real Estate Board, which together span Metro Vancouver and other areas of the Lower Mainland and Sea to Sky corridor, recorded the lowest home sales in more than 20 years in 2025.
More than 80 per cent of all homes sold in Metro Vancouver last year went for less than their final asking price, with a median discount of 2.4 per cent, according to a new analysis by HouseSigma of 2025’s full market performance data from the region’s real estate boards.
But it was the upper end of the market where the most dramatic shifts occurred. Among luxury homes priced above $10 million, the gap between list and sale prices widened dramatically.
In total, just 26 homes sold above $10 million across the entire region in 2025 — all of them below asking price — with a median discount of 19.2 per cent. Those discounts pushed 10 properties below the $10-million threshold by the time deals closed, leaving only 16 homes selling above that level for the year. That compares with 26 sales at and above $10 million in 2024.
The largest dollar discount came from a West Vancouver mansion that sold for $11 million — a full $5.88 million below its $16.88 million list price. While the size of the reduction was striking, the final sale price still landed in eight-figure territory.
“Very wealthy owners who need to reallocate capital may be more willing to make these sacrificial plays in order to cap their downside or mitigate opportunity cost by shifting to other markets. People who own at this price point likely have other things going on that they can shift to,” said Roman Silin, a leading HouseSigma agent in the Lower Mainland, in a statement.
While luxury properties led the decline in dollar terms, the steepest percentage discount of the year came from the opposite end of the market.
A Coquitlam mobile home sold for just $72,000 after being listed at $249,000 — a 71 per cent drop.
In contrast, some homes defied the broader trend. A house on Main Street near 41st Avenue — located near recent higher-density developments — sold for 64 per cent above its $1-million asking price. Meanwhile, a custom-built home in Port Moody achieved the highest dollar amount over list in 2025, selling for $798,000 above its $2.999 million asking price.
Price performance varied sharply by location. Belcarra, West Vancouver, Anmore, Lions Bay, and Bowen Island recorded the highest median sale prices in the region. At the other end of the spectrum, New Westminster, Tsawwassen, Burnaby, Surrey, and Pitt Meadows saw the lowest medians.
Furthermore, areas such as Tsawwassen, Coquitlam, Port Coquitlam, Langley, and Port Moody saw homes sell closest to their asking prices, while Belcarra, Anmore, West Vancouver, Bowen Island, and Lions Bay experienced the deepest median discounts.
Silin said seller behaviour increasingly diverges depending on price point.
“Whereas, mid- to low-end-priced homeowners are stuck with the biggest capital allocation they have in their one home and sometimes only major asset. This often creates a scenario where they would rather dig in their heels and try to weather the storm until more prosperous days,” continued Silin.
- You might also like:
- Metro Vancouver records lowest home sales in more than 20 years in 2025
- Surrey and Fraser Valley in 2025 recorded the slowest home sales in 25 years
- Metro Vancouver and Fraser Valley home property values flat to 10% lower in 2026 assessment
- Falling assessment values push B.C. Home Owner Grant threshold down for first time in years
- Weakest in a generation: Lower Mainland home sales hit 25-year low