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Learn MoreFor British Columbia - Last Updated Mar 24 2025
2025 (average)
4.40%
5.35%
January
4.44%
5.44%
February
4.35%
5.25%
2024 (average)
5.52%
6.75%
December
4.35%
5.50%
November
4.85%
5.95%
October
5.10%
6.20%
September
5.25%
6.45%
August
5.50%
6.70%
July
5.50%
6.70%
June
5.75%
7.05%
May
5.99%
7.30%
April
5.99%
7.30%
March
5.99%
7.30%
February
5.99%
7.30%
January
5.99%
7.30%
2023 (average)
5.77%
6.96%
December
5.99%
7.30%
November
5.99%
7.30%
October
5.99%
7.30%
September
5.99%
7.30%
August
5.99%
7.30%
July
6.00%
7.19%
June
5.75%
6.85%
May
5.50%
6.60%
April
5.50%
6.60%
March
5.50%
6.60%
February
5.50%
6.60%
January
5.50%
6.60%
2022 (average)
2.94%
3.77%
December
5.25%
6.28%
November
4.75%
5.70%
October
4.75%
5.70%
September
4.25%
4.95%
August
3.50%
4.45%
July
3.50%
4.45%
June
2.46%
3.39%
May
1.95%
2.75%
April
1.78%
2.50%
March
1.13%
1.84%
February
0.99%
1.65%
January
0.99%
1.55%
2021 (average)
1.14%
1.58%
December
0.99%
1.55%
November
0.90%
1.55%
October
1.09%
1.55%
September
1.09%
1.55%
August
1.09%
1.55%
July
1.09%
1.55%
June
1.19%
1.55%
May
1.19%
1.55%
April
1.24%
1.55%
March
1.24%
1.55%
February
1.24%
1.65%
January
1.29%
1.75%
2020 (average)
1.90%
2.25%
December
1.38%
1.79%
November
1.55%
1.80%
October
1.55%
1.90%
September
1.61%
1.87%
August
1.66%
2.00%
July
1.79%
2.10%
June
1.79%
2.10%
May
1.95%
2.25%
April
2.00%
2.43%
March
2.25%
2.50%
February
2.65%
3.10%
January
2.65%
3.10%
2019 (average)
2.68%
3.20%
December
2.65%
3.10%
November
2.65%
3.10%
October
2.65%
3.10%
September
2.65%
3.10%
August
2.65%
3.10%
July
2.65%
3.10%
June
2.68%
3.10%
May
2.70%
3.20%
April
2.75%
3.20%
March
2.75%
3.35%
February
2.70%
3.45%
January
2.65%
3.45%
2018 (average)
2.35%
2.88%
December
2.65%
3.35%
November
2.65%
3.25%
October
2.55%
2.90%
September
2.40%
2.80%
August
2.40%
2.80%
July
2.40%
2.80%
June
2.15%
2.60%
May
2.21%
2.55%
April
2.21%
2.85%
March
2.21%
2.85%
February
2.21%
2.85%
January
2.21%
3.00%
2017 (average)
1.89%
2.46%
December
1.95%
2.75%
November
1.95%
2.75%
October
2.05%
2.75%
September
2.15%
2.65%
August
1.90%
2.50%
July
1.95%
2.50%
June
1.75%
2.25%
May
1.75%
2.25%
April
1.78%
2.25%
March
1.80%
2.30%
February
1.80%
2.30%
January
1.90%
2.30%
2016 (average)
2.02%
2.30%
December
1.90%
2.30%
November
1.90%
2.30%
October
1.90%
2.30%
September
1.95%
2.30%
August
1.95%
2.30%
July
1.95%
2.30%
June
2.05%
2.30%
May
2.10%
2.30%
April
2.10%
2.30%
March
2.10%
2.30%
February
2.15%
2.30%
January
2.15%
2.30%
2015 (average)
1.98%
2.15%
December
2.10%
2.20%
November
2.05%
2.15%
October
1.90%
2.05%
September
1.90%
2.05%
August
1.85%
2.05%
July
1.90%
2.15%
June
2.05%
2.15%
May
2.00%
2.15%
April
2.00%
2.15%
March
2.00%
2.15%
February
2.00%
2.25%
January
1.95%
2.30%
2014 (average)
2.30%
2.43%
December
2.15%
2.35%
November
2.15%
2.35%
October
2.15%
2.35%
September
2.25%
2.35%
August
2.25%
2.35%
July
2.30%
2.40%
June
2.40%
2.50%
May
2.40%
2.50%
April
2.40%
2.50%
March
2.40%
2.50%
February
2.40%
2.50%
January
2.40%
2.50%
2025 (average)
4.14%
5.69%
January
4.24%
5.69%
February
4.04%
5.69%
2024 (average)
4.59%
6.31%
December
4.24%
5.69%
November
4.24%
5.69%
October
4.24%
5.69%
September
4.27%
5.77%
August
4.47%
5.79%
July
4.64%
5.79%
June
4.69%
6.89%
May
4.79%
6.89%
April
4.84%
6.89%
March
4.79%
6.89%
February
4.92%
6.89%
January
4.90%
6.89%
2023 (average)
5.03%
6.33%
December
5.12%
6.89%
November
5.44%
6.89%
October
5.62%
6.89%
September
5.47%
6.89%
August
5.37%
6.89%
July
5.19%
6.39%
June
4.92%
5.95%
May
4.57%
5.84%
April
4.84%
5.84%
March
4.65%
5.84%
February
4.67%
5.84%
January
4.49%
5.84%
2022 (average)
4.03%
4.82%
December
4.69%
5.82%
November
4.92%
5.74%
October
5.01%
5.70%
September
4.44%
5.54%
August
4.34%
5.54%
July
4.52%
5.54%
June
4.37%
5.10%
May
3.89%
4.66%
April
3.72%
4.23%
March
3.14%
3.64%
February
2.74%
3.20%
January
2.52%
3.07%
2021 (average)
1.89%
2.43%
December
2.39%
2.94%
November
2.37%
2.91%
October
2.12%
2.56%
September
1.84%
2.39%
August
1.79%
2.39%
July
1.79%
2.39%
June
1.79%
2.39%
May
1.79%
2.39%
April
1.89%
2.39%
March
1.89%
2.32%
February
1.62%
1.99%
January
1.43%
1.99%
2020 (average)
2.02%
2.43%
December
1.49%
1.99%
November
1.59%
1.99%
October
1.59%
2.04%
September
1.79%
2.04%
August
1.79%
2.19%
July
1.89%
2.39%
June
1.99%
2.39%
May
2.24%
2.59%
April
2.44%
2.89%
March
2.29%
2.84%
February
2.44%
2.84%
January
2.64%
2.99%
2019 (average)
2.72%
3.09%
December
2.39%
2.89%
November
2.29%
2.94%
October
2.54%
2.94%
September
2.49%
2.84%
August
2.39%
2.79%
July
2.49%
2.84%
June
2.59%
2.84%
May
2.79%
3.09%
April
2.89%
3.19%
March
3.14%
3.39%
February
3.34%
3.59%
January
3.29%
3.72%
2018 (average)
3.15%
3.62%
December
3.39%
3.82%
November
3.49%
3.84%
October
3.19%
3.64%
September
3.19%
3.67%
August
3.19%
3.67%
July
3.14%
3.64%
June
3.14%
3.64%
May
3.14%
3.64%
April
2.99%
3.54%
March
2.99%
3.54%
February
3.09%
3.49%
January
2.89%
3.34%
2017 (average)
2.54%
2.87%
December
2.79%
3.29%
November
2.69%
3.29%
October
2.84%
3.29%
September
2.84%
3.20%
August
2.59%
2.99%
July
2.64%
2.69%
June
2.39%
2.49%
May
2.24%
2.49%
April
2.29%
2.59%
March
2.39%
2.74%
February
2.39%
2.74%
January
2.44%
2.69%
2016 (average)
2.30%
2.56%
December
2.44%
2.64%
November
2.29%
2.39%
October
2.14%
2.39%
September
2.14%
2.49%
August
2.24%
2.49%
July
2.24%
2.49%
June
2.24%
2.59%
May
2.34%
2.59%
April
2.34%
2.59%
March
2.34%
2.69%
February
2.39%
2.69%
January
2.44%
2.69%
2015 (average)
2.45%
2.65%
December
2.54%
2.69%
November
2.44%
2.69%
October
2.29%
2.59%
September
2.39%
2.59%
August
2.39%
2.59%
July
2.39%
2.59%
June
2.44%
2.59%
May
2.44%
2.59%
April
2.44%
2.69%
March
2.49%
2.69%
February
2.59%
2.69%
January
2.59%
2.79%
2014 (average)
2.88%
3.02%
December
2.74%
2.89%
November
2.74%
2.89%
October
2.74%
2.89%
September
2.74%
2.89%
August
2.74%
2.89%
July
2.79%
2.99%
June
2.94%
3.09%
May
2.94%
3.09%
April
2.94%
3.09%
March
2.94%
3.09%
February
3.09%
3.19%
January
3.19%
3.29%
British Columbia's housing market activity remained steady in January 2025, with home sales increasing 5% from the same month last year. Vancouver Island and Victoria logged the highest sales increases, with 23.9% and 22.8%, respectively. Other centres recorded better sales, such as Kootenay, Kelowna, the GVA, and Northern BC, which saw increases ranging from 16.7% to 5.7% — not bad for a typically slower month.
New listings in all regions increased for the start of 2025, with Chilliwack and the GVA leading at 44.4% and 43.8%, respectively. Other BC main centres also saw increases varying from 41.1% to 14.3%. These numbers suggest sellers were looking to get a good deal ahead of the impact of trade turmoil on markets.
The big boost in listings across BC moved this province (mostly) into a strong buyer's market, perhaps offering a break from the usual bidding wars. The provincial SNLR ratio (sales-to-new listings) declined to 38% (an 11% decrease), with Kelowna, Kamloops, the GVA and Fraser Valley ranging from 37% to 31%.
With more homes to choose from, the average BC home price decreased by 0.6% to $969,851 year-over-year. Yet some BC markets still saw their average home prices increase, with Vancouver Island and Kootenay in the lead with +10.7% and +9.8% growth, respectively.
Housing starts across BC dropped even further, by 13%, to start the year. Nanaimo and Victoria starts were down by 98% and 42%, respectively. However, a few outliers, such as Abbotsford and Kelowna, recorded a massive housing-start increase of 208% and 205%, and Vancouver recorded a healthy 37% increase.
Buyers remain cautious amid U.S. tariff turmoil, concerned about financial outcomes, and perhaps waiting longer to see what happens with interest rates before considering a housing move.
Data Source: Sagen Housing Market Updates
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Learn MoreMortgage Rates are different across Canada. Rates are shown based on your location. If you're planning to purchase out-of-province, be sure to choose rates where the property will be located.
True North Mortgage can efficiently complete your mortgage anywhere you are in Canada — online, over the phone or at our store locations.