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If you’ve been keeping an eye on Metro Vancouver’s housing market, February 2025 might just be the month that catches your attention. After a whirlwind January that saw a jaw-dropping 46% year-over-year surge in new listings, the market took a breath in February, settling into a more balanced groove. According to the latest data from Greater Vancouver REALTORS® (GVR), the region is buzzing with opportunity—for buyers, sellers, and savvy investors alike. Let’s dive into what’s happening and why now might be the perfect time to make your move.
A Market in Harmony
February 2025 saw 1,827 residential sales across Metro Vancouver’s Multiple Listing Service® (MLS®), down 11.7% from the 2,070 sales recorded a year ago. While that might sound like a dip, it’s worth noting that this figure sits 28.9% below the 10-year seasonal average of 2,571. Meanwhile, new listings climbed to 5,057—a solid 10.9% increase from the 4,560 properties listed in February 2024 and 11.6% above the decade’s norm. The result? A total inventory of 12,744 homes on the market, up an impressive 32.3% from last year and 36.4% above the 10-year average.
“After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions,” explains Andrew Lis, GVR’s director of economics and data analytics. Translation: the frenzy has calmed, and the market is hitting a sweet spot where neither buyers nor sellers hold all the cards.
What Does “Balanced” Really Mean?
In real estate speak, balance is gold. The sales-to-active listings ratio—a key indicator of market health—clocked in at 14.8% for February. Break it down by property type, and you’ll see 10.7% for detached homes, 18.5% for attached properties (like townhouses), and 16.8% for apartments. Historically, when this ratio dips below 12% for a while, prices tend to soften. When it climbs above 20% for months, prices heat up. Right now, Metro Vancouver is hovering in that “just right” zone, where price stability reigns supreme.
“Balanced market conditions typically bring a flatter price trajectory, and we’ve seen prices across all segments remain in a holding pattern for the past few months,” Lis notes. The MLS® Home Price Index composite benchmark for all residential properties sits at $1,169,100—a modest 1.1% dip from February 2024 and a tiny 0.3% drop from January 2025. Detached homes are steady at $2,006,100 (up 1.8% year-over-year), apartments at $747,500 (down 2.8%), and townhouses at $1,087,100 (down 1.2%). No wild swings here—just a market taking a breather.
A Perfect Storm of Opportunity
What’s making this moment particularly exciting? Two words: interest rates. With whispers of a potential Bank of Canada rate cut in mid-March, borrowing conditions could soon tilt in buyers’ favor. Pair that with the largest selection of homes since pre-pandemic days, and you’ve got a recipe for some serious house-hunting potential. “Homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times,” Lis adds.
Spring is just around the corner, and historically, it’s the season when the market wakes up. Will buyers pounce on these favorable conditions? Will sellers hold firm or flood the market with more inventory? As Lis puts it, “It will be interesting to see whether buyers take advantage of some of the most favorable market conditions seen in years, and whether sellers change their willingness to bring their properties to market.” One thing’s for sure: all eyes are on Metro Vancouver as the next few months unfold.
A Little Tip for You
Thinking of jumping into the market—whether to buy, sell, or just test the waters? Here’s a pro tip: timing is everything, but preparation is king. Before you dive in, get your finances in order (pre-approval, anyone?) and do your homework on neighborhoods and property types that match your goals. In a balanced market like this, the best deals go to those who move fast and smart. Chat with a local realtor, crunch the numbers, and strike while the iron’s hot—spring could shake things up faster than you think!
