Vancouver Market Update

In March 2025, Vancouver real estate moved into a slower, more measured phase. Greater Vancouver recorded 2,091 residential sales, which is 13.4% lower than March 2024 and about 36.8% below the 10-year seasonal average of 3,308 sales.

On paper, this looks like a buyer-friendly market. Prices have softened in some segments, mortgage rates have eased, and active listings are at their highest point in close to a decade. In practice, many buyers are still sitting on the sidelines, watching rather than writing offers. As the Greater Vancouver Realtors economics team has pointed out, sellers are showing up, but buyers are not active in the numbers we usually see in spring.

I see that clearly on the ground in Vancouver neighbourhoods from Kitsilano to Mount Pleasant, and across West Vancouver and North Vancouver. There is more choice, less pressure from bidding wars in many areas, and yet a cautious tone on both sides.

Key Numbers at a Glance

Here is how the March 2025 market update breaks down across Greater Vancouver:

• New listings:
  6,455 homes were newly listed, up 29% from March 2024 and 15.8% above the 10-year seasonal average.
• Total active listings:
  14,546 properties were on the market, a 37.9% jump year over year and 44.9% above the 10-year seasonal average.
• Sales-to-active listings ratio (overall): 14.9%
  This sits in a balanced range for Greater Vancouver.
  • Detached homes: 10.3%
  • Attached homes (townhomes, duplexes): 21.5%
  • Apartments and Vancouver condos: 16.2%

These ratios matter because they hint at who has the edge. Detached remains closer to a buyer-leaning market in many areas, while attached product is much tighter.

Benchmark Prices in Greater Vancouver

Benchmark values across the region shifted only slightly year over year:

• Detached homes: $2,034,400 (up 0.8% from March 2024)
• Attached homes: $1,113,100 (down 0.8% from March 2024)
• Apartments / condos: $767,300 (down 0.9% from March 2024)

The attached segment is the standout. With only about 2,200 active listings across Greater Vancouver, this category is edging closer to seller-favoured conditions. Many buyers see attached product as the middle ground between a condo and a detached house, so demand tends to stay steady even when the broader market cools.

What This Market Update Means for Buyers

For buyers looking at Vancouver homes for sale, this is one of the most balanced windows we have seen in years.

1. More choice, less panic

With active listings up sharply, you are less likely to face frantic, back-to-back bidding wars in many Vancouver neighbourhoods. Some pockets of West Vancouver and North Vancouver still see strong competition for well-priced homes, especially view properties and homes in top school catchments, but the pace has cooled compared to the peak years.

For Vancouver condos, especially in downtown, Yaletown, and parts of Coal Harbour, inventory gives buyers room to compare buildings, strata history, and long-term costs rather than rushing into the first option that hits MLS.

2. Better conditions and terms

When the sales-to-active listings ratio sits around 15%, buyers often gain more room to negotiate:

• More flexible subjects
• Better timelines for financing and inspections
• Reduced chance of all-out bidding wars, except on standout listings

I am seeing more offers that include proper due diligence, not just subject-free offers written in a rush.

3. Focus on strata realities

For condo and townhome buyers, the strata details matter as much as the floor plan:

• Depreciation reports and contingency funds
• Upcoming repairs and special levies
• Insurance history and bylaws
• Rental and pet rules that shape resale value

In many Vancouver condos, the monthly strata fee feels high at first glance, but a strong long-term maintenance plan can protect you from major surprise costs later. I always look at the full picture, not just the fee on the listing sheet.

What This Market Update Means for Sellers

If you are thinking about selling in Greater Vancouver, this market does not reward guesswork.

1. Pricing with precision

With buyers cautious and data easy to access, overpricing gets punished quickly. Homes that list too far above fair market value sit, then face price reductions, and often sell for less than if they had entered the market at the right price from day one.

I price by looking at:

• Recent comparable sales in your micro-area
• The current competition, not just last year’s highs
• Property type (strata vs freehold), condition, and unique features

Detached homes in East Vancouver do not behave the same as detached homes in West Vancouver or North Vancouver, and downtown condos move differently than Kitsilano or Fairview. Nuance at the neighbourhood level is key.

2. Presentation and exposure

Even in a balanced market, the best presented homes win:

• Professional photography and floor plans
• A clear, simple story about the lifestyle, not just the features
• Proper staging and repairs before going live on MLS

On my listings, I track real-time activity through platforms like Realtor.ca stats, Google Analytics, and 3D tour analytics. When traffic patterns shift, I adjust our strategy instead of waiting for the phone to ring.

Segment-by-Segment Snapshot

Detached homes

Detached Vancouver homes for sale are seeing softer demand than attached and condo product in many sub-areas. Buyers are more price sensitive, especially once the total cost, taxes, and renovation needs are clear.

In West Vancouver and North Vancouver, view homes, waterfront, and well-renovated properties still attract strong interest, but the buyer pool is more selective and expects quality and accurate pricing.

Vancouver condos and strata properties

In the condo and strata townhome market, balance is shifting toward more choice but not a fire sale. Many buyers are:

• Moving out of smaller downtown condos to larger units in Mount Pleasant, Olympic Village, and False Creek
• Swapping from older strata buildings to newer, well-managed ones with better energy efficiency and amenities

For sellers, that means your strata documents, building reputation, and maintenance history are just as important as your unit finishes.

Luxury real estate

In the luxury real estate segment, including high-end Vancouver homes for sale in areas like the British Properties, Altamont, Shaughnessy, and select waterfront streets, activity is steady rather than frenzied. Buyers at this level value privacy, discretion, and strong negotiation more than ever.

My role here is to protect your privacy, manage showings with care, and negotiate with discipline to protect value, not just chase volume.

Key Rules, Taxes, and Protections

Greater Vancouver remains one of the most regulated markets in Canada, and that affects both buyers and sellers.

• Property transfer tax (BC):
  This provincial tax applies on most purchases and can be a large part of your closing costs. First-time buyer programs, exemptions, and luxury tiers can change over time.
• Rescission period (Home Buyer Rescission Period):
  In most residential deals, buyers have a short, mandatory rescission period where they can walk away from a firm contract for a set fee. This changes how we structure offers and negotiations and can affect strategy in multiple-offer situations.

Disclaimer: Tax rules, exemptions, and legal requirements change over time. Always confirm details with your lawyer, notary, accountant, or other qualified professional before making decisions.

How I Guide Clients In This Market

As a Realtor Vancouver clients trust with both family homes and luxury properties, I treat every sale and purchase with the same level of care. My focus is on:

• Clear, straightforward advice, backed by current data
• Strong, disciplined negotiation to protect your position
• Respect for your privacy and time
• A client-first approach from the first call to closing

Whether you are upsizing within Greater Vancouver, selling a long-held family home in West Vancouver, or buying your first condo in a busy strata in Mount Pleasant, you should not have to guess your way through this market.

Ready For Your Own Vancouver Market Update?

If you are thinking about buying or selling in Vancouver or Greater Vancouver and want a clear plan, I can help.

Reach out to book a private call or request a detailed market evaluation of your home. I will walk you through what these numbers mean for your property, your neighbourhood, and your next move.