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April 3, 2025
Metro Vancouver’s real estate market is serving up prime conditions for buyers—but they’re nowhere to be found. March 2025 home sales hit a six-year low at 2,091, down 13.4% from last year’s 2,415 and a whopping 36.8% below the 10-year average. Meanwhile, active listings are climbing, reaching 14,546—a 37.9% jump from March 2024 and 44.9% above the decade’s norm.
“Buyers haven’t seen a market this favorable in years,” says Andrew Lis, Director of Economics and Data Analytics at Greater Vancouver REALTORS®. Lower prices, historically low mortgage rates, and nearly a decade-high inventory should be a magnet for activity. Yet, despite eager sellers, buyer turnout remains sluggish.
New listings also surged, with 6,455 properties hitting the MLS® in March—up 29% from last year. The sales-to-active listings ratio sits at 14.9%, signaling a balanced market. Detached homes (10.3%) lean toward buyers, while attached homes (21.5%) flirt with seller territory due to a tight 2,200-unit supply.
Price-wise, the MLS® Home Price Index benchmark for all residential properties is $1,190,900, down 0.6% from March 2024. Detached homes rose slightly to $2,034,400 (+0.8%), apartments dipped to $767,300 (-0.9%), and townhouses settled at $1,113,100 (-0.8%).
Echoing early 2023’s slow start, this market could heat up later in spring or summer. For now, it’s a waiting game.
Marketing Tip: Sellers, stand out in this crowded market by staging your home to highlight its best features—think decluttered spaces and fresh curb appeal. Buyers are picky when options abound!
