04/08/2025
One of my favourite views in Vancouver!
and here is a lil market update 🏠
Here are the key takeaways from the Metro Vancouver housing market report for March 2025
Lowest March Sales Since 2019:
Home sales in Metro Vancouver in March 2025 were the lowest for that month since 2019, indicating a significant slowdown in buyer activity.
Rising Active Listings:
The number of active listings continues its upward trend, reaching levels not seen in almost a decade. This signifies increased inventory and more choice for buyers.
Buyer’s Market Conditions:
The market conditions are currently favorable for buyers, with eased prices, relatively low mortgage rates, and a substantial increase in active listings.
Disparity Between Seller Readiness and Buyer Hesitation:
While sellers are bringing more properties to the market, buyers haven’t responded with typical spring season activity.
Sales-to-Active Listings Ratio Indicates Balanced Market:
The overall sales-to-active listings ratio is 14.9%, suggesting a balanced market. However, it’s nearing the threshold (12%) that historically indicates downward pressure on prices.
Attached Market Nearing Seller’s Territory:
The attached (townhouse) segment has a higher sales-to-active listings ratio (21.5%), indicating it’s close to becoming a seller’s market due to limited supply.
Modest Price Changes:
The composite benchmark price saw a slight year-over-year decrease (0.6%) but a marginal month-over-month increase (0.5%). Price trends are generally flat.
Decreased Sales Across All Property Types:
Sales volumes decreased year-over-year for detached homes (24.1%), apartments (10.2%), and attached homes (4.6%).
Slightly Increased Benchmark Prices for Detached and
Apartments Month-over-Month:
While year-over-year benchmark prices saw minor changes across property types, detached and apartment prices experienced a small increase from February 2025.
Townhouse prices also saw a slight month-over-month increase.
Comparison to Early 2023:
The current market resembles the beginning of 2023, which saw slow sales initially before momentum picked up later in the year.
Source: Great Vancouver Realtors
