For the home seller who last year had to take $5.88 million less than they wanted on their luxury West Vancouver mansion, the depth of that discount has got to sting – but we expect the $11 million they got for the home eased some of that pain.
New data by HouseSigma has found that the luxury home sector in Metro Vancouver saw some massive price cuts between listing and sale prices in 2025, in order to get the deal done in a rapidly softening market.
Across the year, more than 80% of all Metro Vancouver homes sold below their final asking price, with a median discount of 2.38%. However, that number rises dramatically on properties sold last year that were listed for $10 million-plus.
In this high-priced market, there were only 26 sales in the entire region last year, and all of them went for below asking, by a median of 19.2%. The steep discounts put 10 of the final sale prices of these homes under the $10 million threshold, with only 16 selling above that price all year (compared with 26 Metro Vancouver sales above $10 million in 2024).
At the other end of the luxury scale from the West Vancouver home that sold for $5.88 million under its $16.88 million list price, the home in the region that saw the biggest percentage discount was this Coquitlam mobile home. It went from a $249,000 asking price to a $72,000 sale price, which is a drop of 71.1%. However, it seems probable that there may have been an unusual deal struck, such as a pad rental, to offset the discount.
Some homes bucked the trend, such as this South Main house on 41st Avenue, a development corridor, which went for 63.8% over its $1 million asking price. And even some luxurious homes did well, with this Port Moody custom-built home earning the highest dollar amount over asking, selling at $798,000 more than the $2,999,900 list price.
Roman Silin, a leading HouseSigma agent in the Lower Mainland, spoke about the market psychology behind accepting low offers, depending on the price point. He said, “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. 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.”
Check out the full-year 2025 Metro Vancouver PriceWatch infographic, below, to see more details and breakdowns of prices and discounts by property types and municipality.
Find all your market trends data for Metro Vancouver here and keep up to date with our BC real estate blog here.