As we step into March 2025, Metro Vancouver’s real estate market is showing signs of balance after a surge in new listings earlier in the year. If you’re a buyer or seller, understanding these latest trends will help you make informed decisions.
A Shift Toward Market Balance
Following a 46% increase in new listings in January, February brought a more moderate rise in newly listed properties. This shift has helped keep the market conditions balanced, offering buyers a broader selection of homes while maintaining stability for sellers.
According to the Greater Vancouver REALTORS® (GVR), Metro Vancouver recorded 1,827 residential sales in February 2025—an 11.7% decrease from the same time last year. This number also sits 28.9% below the 10-year seasonal average of 2,571 sales. While sales activity slowed, the inventory of homes available has increased significantly.
Key Market Stats for February 2025
- New Listings: 5,057 properties (+10.9% YoY, 11.6% above the 10-year average)
- Total Active Listings: 12,744 properties (+32.3% YoY, 36.4% above the 10-year average)
- Sales-to-Active Listings Ratio: 14.8% overall
- Detached homes: 10.7%
- Townhomes: 18.5%
- Condos: 16.8%
With more inventory on the market, buyers have greater choice, reducing the urgency to make quick decisions. However, the market remains stable, with neither strong upward nor downward pressure on prices.
Home Prices Hold Steady
Despite the shifting market conditions, prices have remained relatively flat. The MLS® Home Price Index composite benchmark price for Metro Vancouver is currently $1,169,100, reflecting a 1.1% decrease compared to February 2024 and a slight 0.3% decrease from January 2025.
Here’s a breakdown of benchmark prices by property type:
- Detached Homes: $2,006,100 (+1.8% YoY, unchanged from January 2025)
- Condos: $747,500 (-2.8% YoY, -0.1% from January 2025)
- Townhomes: $1,087,100 (-1.2% YoY, -1.7% from January 2025)
What’s Next for Vancouver Real Estate?
With the Bank of Canada potentially lowering interest rates in mid-March, borrowing conditions may improve for buyers. This could drive more activity in the spring market, especially with the largest selection of homes available since pre-pandemic times.
According to GVR’s Director of Economics, Andrew Lis, the market’s balanced conditions suggest a flatter price trajectory in the short term. However, as spring approaches, it will be interesting to see whether buyers take advantage of these favorable conditions and if sellers adjust their strategies accordingly.
Final Thoughts
For buyers, the increased inventory provides more options and negotiating power. For sellers, accurate pricing and strategic marketing will be key to securing a successful sale in this balanced market.
If you’re considering buying or selling in Metro Vancouver, staying up-to-date with the latest trends is crucial. Reach out today for expert advice tailored to your needs!