As we transition from January into February 2025, the Greater Vancouver real estate market is experiencing renewed momentum, with a surge in new listings, steady demand, and balanced conditions. With sales increasing year-over-year and more sellers returning to the market, conditions are shifting toward higher activity levels compared to 2024.
Let’s dive into the key trends shaping the market and what buyers and sellers should expect in the coming months.
Market Activity: More Listings, More Sales, and a Balanced Market
The Metro Vancouver housing market is showing clear signs of recovery, with sales and listings both posting significant gains:
Home Sales: 1,552 residential properties were sold in January 2025—an 8.8% increase compared to January 2024. However, sales remain 11.3% below the 10-year average.
New Listings: A major surge in seller activity saw 5,566 new listings hit the market in January—a 46% jump from January 2024 and 31.1% above the 10-year average.
Total Inventory: The number of active listings reached 11,494 properties, reflecting a 33.1% increase compared to last year and 33.2% above the 10-year average.
This influx of inventory is providing more choices for buyers, but also creating a competitive environment for sellers. With both sales and listings rising, the market remains balanced, keeping home prices relatively stable.
Sales-to-Active Listings Ratio (S/A): A Closer Look
The Sales-to-Active Listings Ratio (S/A) is a key metric that indicates whether market conditions favor buyers, sellers, or remain balanced:
Overall Market S/A: 14.1% (Balanced Market)
Detached Homes: 9.2% (Near Buyer’s Market Territory)
Attached Homes (Townhouses): 18.5% (Leaning Towards Sellers)
Apartments: 16.5% (Balanced)
🔹 What This Means:
When the S/A drops below 12%, downward price pressure typically occurs.
When the S/A rises above 20% for a sustained period, prices tend to increase.
Right now, Metro Vancouver sits in a balanced market, though detached homes are trending toward a buyer’s market due to their lower S/A ratio.
Benchmark Prices: Stability Across Property Types
Despite increased market activity, home prices remained stable in January.
Metro Vancouver Benchmark Prices (January 2025)
Detached home prices saw modest growth, increasing 3.1% year-over-year (YoY).
Townhouse prices are up 2.7% YoY but dipped slightly compared to December.
Apartment prices are down 1.7% YoY, with some declines seen across Burnaby, North Vancouver, and West Vancouver.
Regional Price Movements:
Notable Price Decreases:
West Vancouver (-3.3%), Port Moody (-1.7%), Pitt Meadows (-1.9%)
Price Gains:
Bowen Island (+2.3%), North Vancouver (+2.0%), Sunshine Coast (+2.9%)
🔹 Takeaway: While price growth has slowed, stability in benchmark prices suggests a market that is neither overheating nor cooling dramatically.
February 2025 Early Trends
More Listings Hitting the Market: As of February 4, new listings remain 46% higher YoY, indicating continued seller confidence.
Balanced Conditions Holding: While sales are increasing, supply is keeping pace, maintaining a stable market for now.
🔹 Looking Ahead:
Spring tends to bring more buyer activity—if demand picks up significantly, it could shift conditions in favor of sellers.
Interest rates and economic factors will play a major role in shaping market trends for the rest of Q1 2025.
What This Means for Buyers & Sellers
📉 For Buyers:
👉 More options on the market → Take time to find the right home.
👉 Mortgage rates stabilizing → Plan ahead and get pre-approved.
👉 Balanced market → Less pressure to overbid, but still be competitive.
💡 Strategy:
If you’re buying a detached home, you may have negotiation power in some areas.
For townhouses & condos, expect more competition, especially in affordable price ranges.
📈 For Sellers:
👉 More buyers are returning, but pricing needs to be strategic.
👉 Balanced conditions mean realistic expectations are key.
👉 Marketing matters more in a competitive listing environment.
💡 Strategy:
Stage your home properly and price it competitively to stand out.
If you're in an area with high new inventory, be prepared to adjust expectations.
Final Thoughts: A Market in Transition
The Greater Vancouver real estate market is rebounding from 2024’s slower pace, moving into a more active and balanced phase. While higher inventory levels are keeping prices stable, stronger demand and favorable mortgage rates could heat things up heading into the spring.
If you're thinking of buying or selling, now is a great time to start planning. Reach out to discuss your goals and get expert insights on the best strategies for navigating the market in 2025!
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