Balanced Conditions, Active Buyers, and Strategic Considerations
Market Overview
April 2025 saw a continued moderation in sales activity, while inventory levels reached their highest point since 2019.
According to the Greater Vancouver REALTORS®, a total of 2,163 residential sales were recorded — a 23.6% decline from April 2024 and 28.2% below the 10-year seasonal average.
Despite the lower sales volume, buyer interest remains strong, especially for homes that are well priced and well presented. Many submarkets are still seeing busy open houses and multiple offers on select listings.
The current market is best described as balanced. Conditions don't significantly favour either buyers or sellers but instead reward those who take a data-informed, strategic approach to pricing and presentation.
Key Indicators – April 2025
The sales-to-active listings ratio stayed within balanced territory:
Detached homes: 9.9% (buyers' market range)
Attached homes: 17.5%
Apartments: 15.7%
Pricing Trends by Property Type
Price movements have remained modest month-over-month, showing overall stability despite rising inventory. However, year-over-year benchmark prices are down across all property types, with the most notable decline in townhouses.
Area Highlights
Here's a snapshot of year-over-year composite benchmark price changes in key Metro Vancouver submarkets:
Burnaby East: $1,131,200 (▼ 3.0%)
Burnaby North: $1,109,600 (▼ 2.6%)
Burnaby South: $1,123,800 (▼ 3.4%)
New Westminster: $815,500 (▼ 2.7%)
Coquitlam: $1,080,300 (▼ 4.0%)
Vancouver East: $1,224,400 (▲ 0.1%)
Vancouver West: $1,336,800 (▼ 0.8%)
Port Moody: $1,088,900 (▼ 4.1%)
These numbers reflect a softening trend overall, although Vancouver East has shown some resilience, holding steady year-over-year.
Interpreting the Market
While overall sales volume is down, market activity is still present. Buyers remain engaged, particularly where homes are:
Accurately priced relative to recent comparable sales
Properly prepared and marketed
Located in high-demand neighbourhoods or property segments
On the flip side, overpriced or poorly presented listings are stagnating, contributing to high inventory levels. This creates opportunities for well-prepared buyers, especially those who are pre-approved and ready to act.
For sellers, it’s a more competitive environment, particularly in the detached segment.
Broader Economic Context
Several economic trends are shaping buyer and seller behaviour:
Interest Rates: The Bank of Canada held its policy rate at 2.75% in April after seven consecutive rate cuts from its 2023 high of 5%.
Mortgage Costs: Fixed rates dropped in early April but ticked back up later in the month due to U.S. bond market volatility.
Affordability: Mortgage rates are still low by recent standards, supporting buyer purchasing power.
Federal Election: With Prime Minister Mark Carney now leading the Liberal government, markets and consumer confidence are still adapting to new policies.
National Trends: Across Canada, home sales were down 9.3% year-over-year in March, with softening demand indicators nationally.
These broader conditions help explain why Metro Vancouver remains an active but selective market.
Final Thoughts
The April 2025 market presents a nuanced picture:
Sales are down from last year
Inventory is high
Buyers are active but deliberate
Strategy matters more than ever
Homes that are well priced, well presented, and well located are still drawing attention — often from multiple buyers. Others are sitting.
Whether you’re buying or selling, it's essential to understand your local market dynamics and how they connect to the broader real estate landscape.
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