The Metro Vancouver real estate market is off to an active start in 2025, with a significant increase in new listings as sellers rush to enter the market. According to the latest report from Greater Vancouver REALTORS® (GVR), the number of homes newly listed on the MLS® system rose by 46% in January compared to the same time last year.
This shift suggests a potential change in market dynamics, with sellers becoming more active after a strong finish to 2024.
Home Sales and Listings: Key Market Trends
January 2025 saw 1,552 home sales, an 8.8% increase compared to January 2024. However, this figure remains 11.3% below the 10-year seasonal average of 1,749 sales.
On the supply side, there were 5,566 new listings across detached, attached, and apartment properties—a 46.9% jump from January 2024 and 31.1% above the 10-year average. The total number of properties for sale has also grown to 11,494, marking a 33.1% increase from last year.
What This Means for Buyers & Sellers
With new listings outpacing demand, the market remains in balanced conditions. According to Andrew Lis, GVR’s Director of Economics and Data Analytics, the recent increase in listings has kept home prices relatively stable to start the year.
The sales-to-active listings ratio, a key market indicator, stands at 14.1% overall. Breaking it down by property type:
- Detached homes: 9.2%
- Attached homes (townhouses, duplexes): 18.5%
- Apartments: 16.5%
Historically, prices tend to decline when this ratio falls below 12% and increase when it exceeds 20% for a sustained period. Since the current ratio remains within a balanced range, price growth has been minimal.
Vancouver Home Prices: Where Do We Stand?
- Overall Benchmark Price: $1,173,000 (📈 +0.5% YoY)
- Detached Homes: $2,005,400 (📈 +3.1% YoY)
- Apartment Homes: $748,100 (📉 -1.7% YoY)
- Townhouses: $1,105,600 (📈 +2.7% YoY)
While detached and townhouse prices have increased slightly over the past year, apartment prices have dipped. This suggests that affordability concerns may be impacting the condo market more than other segments.
Economic Uncertainty Could Impact Future Trends
Despite the strong start to 2025, experts warn that external factors could influence the housing market in the coming months. Tariffs from the U.S. and potential economic instability could create uncertainty, affecting both buyer demand and seller confidence.
“Our 2025 forecast calls for moderate price growth by the end of the year, but economic shocks—such as the impact of U.S. tariffs on Canada—could alter these projections,” said Lis.
Should You Buy or Sell in 2025?
With more homes hitting the market, buyers have more options than they did a year ago. However, prices remain stable, meaning sellers are still in a decent position—especially in the detached home and townhouse segments.
If you’re considering buying or selling, staying informed on market trends will be key. The coming months will determine whether demand keeps up with rising inventory, or if we shift into a buyer’s market with more downward pressure on prices.