It taught me the market is never just one thing. Here’s why.It’s not good or bad.It’s always changing, and that’s the only constant.People can risk getting caught up in today
Is Now the Right Time to Buy a Home in Vancouver?
Dated: May 22 2025
Views: 105
Having sold real estate in Vancouver for 35 years, here's what you should know.
From Expo ‘86, this is the spark that kicked off the previously slow Vancouver Real Estate Market, which hasn’t stopped since.
To the 2008 US Banking Meltdown, which caused the Vancouver market to slow dramatically.
Then the real estate boom that occurred after 2008 until 2016.
This is when house values appreciated almost 50%.
And during all this time, the one question I always hear:
"Is now the right time to buy a home in Vancouver?”
What does history tell us?
If we zoom out...
over the past 100 years, Vancouver's average home prices have grown 23,900%, like many cities across North America.
Take for instance 1924, the average home price was around $5,000, while today the average home price is $1,200,000.
Since the 2000s:
The average home price has risen by 300% from an average of $300k in 2004 to $1.2m in 2024.
This translates to an average annual growth rate of around 7.2%, reflecting Vancouver's strong economic fundamentals and growing desirability from both local and foreign buyers.
If we look at just the past 5 years, from 2019 to 2024, average home prices have increased from $900k to $1,2m.
This 33% rise averages out to an annual growth rate of 5.9%.
So history tells us Vancouver's market tends to increase approximately 5-7% each year.
What are projections for the future of Vancouver Real Estate?
Over the next 5 years, Vancouver is projected to grow at an annual growth rate of around 4-5%, suggesting average home prices could reach $1.5m by 2029.
Next 20 Years
Long-term trends suggest Vancouver's real estate market will remain strong, with anticipated growth rates of 3-4% annually.
This could see average home prices around $2.4 by 2044.
My Advice...?
If you're having the conversation about buying a home in Vancouver, remember that real estate here is a long-term investment.
The city’s popularity from visitors, coupled with historical and projected growth trends, suggests that now is as good a time as any to enter the Vancouver market.
Real estate in Vancouver may not be just about owning a home; it might also be about securing a piece of a city that has a bright future ahead.
I am available for questions about real estate by Whatsapp by clicking the link below and sending me a text to (604) 805-7606
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Larrie Forbes
36 year RE/MAX Real Estate * RE/MAX-Hall of Fame * RE/MAX-Lifetime Achievement Award * Diamond Medallion Award-Vancouver Real Estate Board
Larrie Forbes
I studied at the Royal Canadian Navy School of Music. When I left the Navy my brother and I formed "The Brothers Forbes" performing for over 10 years at Hotels in Victoria. Leaving music, I worked as ....
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Having sold real estate in Vancouver for 35 years, here's what you should know.From Expo ‘86, this is the spark that kicked off the previously slow Vancouver Real Estate Market, which hasn
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Last Updated: September 25, 2026 6:11 PM UTC