VANCOUVER, BC – April 2, 2025
Home sales registered on the MLS® in Metro Vancouver*
for the month of March were the lowest going back to 2019 for the same month, while active
listings continue to their upward trend.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024.
This was 36.8 per cent below the 10-year seasonal average (3,308).
“If we can set aside the political and economic uncertainty tied to the new U.S. administration
for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in
years,” said Andrew Lis, GVR’s director of economics and data analytics. “Prices have eased
from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are
more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to
engage — but so far, buyers have not shown up in the numbers we typically see at this time
of year.”
There were 6,455 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 per
cent increase compared to the 5,002 properties listed in March 2024. This was 15.8 per cent
above the 10-year seasonal average (5,572).
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 14,546, a 37.9 per cent increase compared to March 2024 (10,552). This is 44.9
per cent above the 10-year seasonal average (10,038).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 per cent for detached
homes, 21.5 per cent for attached, and 16.2 per cent for apartments.
“The current market bares resemblance to early 2023 where price trends were generally flat,
and sales started the year off slowly before gaining momentum in the spring and summer
months,” Lis said. “While market conditions overall remain balanced, it’s worth noting that the
attached segment continues teetering on the threshold of a sellers’ market as a result of a
chronic undersupply, with only about 2,200 active listings available for prospective buyers
throughout the entire region.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,190,900. This represents a 0.6 per cent decrease over March
2024 and a 0.5 per cent increase compared to February 2025.
Sales of detached homes in March 2025 reached 527, a 24.1 per cent decrease from the 694
detached sales recorded in March 2024. The benchmark price for a detached home is
$2,034,400. This represents a 0.8 per cent increase from March 2024 and a 0.4 per cent
increase compared to February 2025.
Sales of apartment homes reached 1,084 in March 2025, a 10.2 per cent decrease compared
to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300.
This represents a 0.9 per cent decrease from March 2024 and a 1 per cent increase compared
to February 2025.
Attached home sales in March 2025 totalled 472, a 4.6 per cent decrease compared to the
495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a
0.8 per cent decrease from March 2024 and a 0.2 per cent increase compared to February
2025.
for the month of March were the lowest going back to 2019 for the same month, while active
listings continue to their upward trend.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024.
This was 36.8 per cent below the 10-year seasonal average (3,308).
“If we can set aside the political and economic uncertainty tied to the new U.S. administration
for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in
years,” said Andrew Lis, GVR’s director of economics and data analytics. “Prices have eased
from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are
more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to
engage — but so far, buyers have not shown up in the numbers we typically see at this time
of year.”
There were 6,455 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 per
cent increase compared to the 5,002 properties listed in March 2024. This was 15.8 per cent
above the 10-year seasonal average (5,572).
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 14,546, a 37.9 per cent increase compared to March 2024 (10,552). This is 44.9
per cent above the 10-year seasonal average (10,038).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 per cent for detached
homes, 21.5 per cent for attached, and 16.2 per cent for apartments.
Analysis of the historical data suggests downward pressure on home prices occurs when the
ratio dips below 12 per cent for a sustained period, while home prices often experience
upward pressure when it surpasses 20 per cent over several months.
ratio dips below 12 per cent for a sustained period, while home prices often experience
upward pressure when it surpasses 20 per cent over several months.
“The current market bares resemblance to early 2023 where price trends were generally flat,
and sales started the year off slowly before gaining momentum in the spring and summer
months,” Lis said. “While market conditions overall remain balanced, it’s worth noting that the
attached segment continues teetering on the threshold of a sellers’ market as a result of a
chronic undersupply, with only about 2,200 active listings available for prospective buyers
throughout the entire region.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,190,900. This represents a 0.6 per cent decrease over March
2024 and a 0.5 per cent increase compared to February 2025.
Sales of detached homes in March 2025 reached 527, a 24.1 per cent decrease from the 694
detached sales recorded in March 2024. The benchmark price for a detached home is
$2,034,400. This represents a 0.8 per cent increase from March 2024 and a 0.4 per cent
increase compared to February 2025.
Sales of apartment homes reached 1,084 in March 2025, a 10.2 per cent decrease compared
to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300.
This represents a 0.9 per cent decrease from March 2024 and a 1 per cent increase compared
to February 2025.
Attached home sales in March 2025 totalled 472, a 4.6 per cent decrease compared to the
495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a
0.8 per cent decrease from March 2024 and a 0.2 per cent increase compared to February
2025.
Call Rick to list or buy, you deserve a focused service provider- 778-389-2164