Nanaimo, BC
MARKET SLOWER THAN IN JULY BUT STILL AHEAD OF LAST YEAR
“August was slower than July, but that’s typical with back to school on the horizon,” says Naud. “However, sales were up from the previous August, and our market is proving to be resilient. There is pent-up demand but still some hesitancy that we attribute to ongoing tariff concerns.”
However, Naud adds that tariff worries have turned out to be more of a psychological deterrent than an economic one. The British Columbia Real Estate Association (BCREA) reports that the 35 per cent tariff is only on non-compliant goods, which is a very small share of exports (less than 10 per cent).
“The effective tariff rate on all Canadian exports to the United States is about five per cent only, and on U.S. imports to Canada, it’s about two per cent,” says Naud. “So, despite our initial fears, there has actually been minimal impact on growth or inflation.”
Calgary, AB
Supply growth weighs on home prices
"Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years," said Ann-Marie Lurie, Chief Economist at CREB®. "The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply."
Toronto, ON
August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments.
“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule.
VANCOUVER, BC
Easing home prices help lift sales in August
“Prices have eased around two per cent since the start of the year and are down about one per cent month over month in August, signaling that sellers have been willing to lower price expectations,” Lis said. “As sellers’ and buyers’ expectations have become more aligned, transaction volume has picked up. Newly listed properties remain in line with their ten-year seasonal average however, which when paired with increasing sales activity, is likely to diminish the available inventory. This also means the window of plentiful opportunity for buyers may soon begin closing if these trends continue.”
The benchmark price for a detached home is $1,950,300. This represents a 4.8 per cent decrease from August 2024 and a 1.2 per cent decrease compared to July 2025.
The benchmark price of an apartment home is $734,400. This represents a 4.4 per cent decrease from August 2024 and a 1.3 per cent decrease compared to July 2025.
The benchmark price of a townhouse is $1,079,600. This represents a 3.5 per cent decrease from August 2024 and a 1.8 per cent decrease compared to July 2025.
