Where to Buy Real Estate in Canada 2025: Vancouver
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Multi-generational living and new short-term rental regulations are shaping the Vancouver real estate market, which is the most balanced it’s been in years.
Photo by Kyle Pearce / DIY Genius from Wikimedia Commons, CC BY-SA 2.0
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Best places to buy
Where to Buy Real Estate in 2025
Best places to buy real estate in Vancouver
Here are the top neighbourhoods for real estate purchases in Vancouver this year. To view all the results, slide the columns right or left using your fingers or mouse, or download the data to your device in Excel, CSV or PDF format.
Source: Real Estate Board of Greater Vancouver
Top three neighbourhoods in Vancouver
Hastings-Sunrise is a vibrant and eclectic neighbourhood in East Vancouver. This up-and-coming area offers a mix of traditional and contemporary charm, blending historic homes with modern developments. The neighbourhood is home to a variety of local businesses, from cozy cafes and family-owned restaurants to quirky shops. Streets lined with trees and colourful murals add to the area’s distinctive, laid-back vibe. The sprawling Hastings Park—home to the Pacific National Exhibition—delivers a year-round dose of excitement. But to take advantage of all that Hastings-Sunrise has to offer, residents and visitors generally need access to a vehicle.
View Hastings-Sunrise real estate listings on Zoocasa.
Mount Pleasant has a vibrant arts scene and diverse communities. The area has become one of Vancouver’s most sought-after destinations, with trendy cafes, independent boutiques, artisanal shops and craft breweries offering something for everyone, from foodies to art lovers. With a range of housing options, from charming heritage homes to sleek, modern condos, Mount Pleasant is a popular spot for young professionals and families alike.
View Mount Pleasant real estate listings on Zoocasa.
Collingwood is made up of single-family homes, low-rise apartments and some newer developments, providing a range of housing options for different lifestyles. The neighbourhood is well connected to public transit, such as the SkyTrain, making it easy to travel to downtown Vancouver and other areas of the city. And Collingwood Park, a central green space, is a popular spot for outdoor activities and relaxation.
View Collingwood real estate listings on Zoocasa.
What’s happened in the Vancouver real estate market?
After years of home price appreciation, affordability remains a challenge in Vancouver. That said, 2024 marked a period of relative stability for the city’s real estate market.
Total residential sales in Greater Vancouver ended 2024 up just 1.2% from the previous year. But, reflecting a long-term slowdown in market activity, sales were 9% lower than in 2022 and 21% below the 10-year average.
First-time home buyers took advantage of lower interest rates and stable prices, leading to heightened demand for entry-level properties, particularly condos and townhouses.
“Throughout the year, we saw multiple-offer situations, driven largely by first-time home buyers eager to enter the market,” says local eXp real estate agent Chloe Kopman, who works alongside her daughter, Simone Kopman. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.)
Meanwhile, the condo market saw a surge in listings as new government regulations on short-term rentals took effect. New Airbnb restrictions introduced in May 2024 prompted many investors to sell.
“We saw a wave of one-bedroom units on the market,” Simone says. “That pushed condo inventory up fast.”
While more inventory provided buyers with additional options, strong interest in affordable properties kept competition high for homes priced fairly.
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What’s next for real estate in Vancouver?
In the early months of 2025, Vancouver’s real estate market remained balanced. Buyers and sellers could make informed decisions without the pressure of aggressive bidding wars.
“It’s a healthy market—no extremes,” says Chloe. “Buyers have more time, and sellers aren’t panicked. It’s the most balanced we’ve seen in years.”
Yet with limited space for new development in Vancouver, Simone believes housing will always be in demand. Multi-generational homes and legal secondary suites, such as basement units with a separate entrance, are increasingly viewed as affordable ways to share costs or earn rental income, she says. In particular, there’s demand for homes with secondary suites or accessory dwelling units—a self-contained unit located on the same property as the primary residence, such as a garden suite or laneway home—as they provide additional living space and rental income potential.
“A home with two kitchens? That’s gold right now,” Chloe says. “Multi-family setups are the future.”
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Read more about buying a home:
- Why are mortgages so expensive in Canada?
- The true costs of home ownership for young Canadians
- Mortgage payment calculator
- Buying a second home: How it works in Canada
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