Vancouver Market Update – March 2025

In March 2025, Metro Vancouver’s housing market experienced a notable slowdown, with residential sales totaling 2,091—a 13.4% decrease from March 2024 and 36.8% below the 10-year seasonal average of 3,308. This Vancouver market update reflects shifting dynamics as the region continues to navigate economic uncertainty and fluctuating buyer confidence.

Despite favorable conditions for buyers—such as eased prices, low mortgage rates, and the highest number of active listings in nearly a decade—buyer activity remained subdued. Andrew Lis, GVR’s director of economics and data analytics, noted that while sellers are ready to engage, buyers have not appeared in typical numbers for this time of year.

Key Statistics from the Vancouver Market Update:

• New Listings: 6,455 properties were newly listed, marking a 29% increase from March 2024 and 15.8% above the 10-year seasonal average.

• Total Active Listings: 14,546 properties were on the market, up 37.9% year-over-year and 44.9% above the 10-year seasonal average.

• Sales-to-Active Listings Ratio: Overall ratio stood at 14.9%, indicating balanced market conditions.

  • Detached: 10.3%

  • Attached: 21.5%

  • Apartments: 16.2%

Benchmark Prices:

• Detached Homes: $2,034,400 (↑ 0.8% YoY)

• Attached Homes: $1,113,100 (↓ 0.8% YoY)

• Apartments: $767,300 (↓ 0.9% YoY)

The attached home segment is nearing a seller’s market threshold due to chronic undersupply, with only about 2,200 active listings available—an important consideration in this Vancouver market update.

Overall, while market conditions are in many ways favorable for buyers, the anticipated resurgence in activity has yet to fully materialize. This Vancouver market update highlights a cautious but opportunity-rich landscape for those looking to enter or move within the market this spring.

Tim Donadt joins the Vrecko Real Estate Group in the Vancouver Real Estate office

We are thrilled to announce that Tim Donadt has joined the Vrecko Real Estate Group with Macdonald Realty in Vancouver. With over a decade of professional experience in sales, marketing, and client relations, Tim brings a wealth of knowledge, creativity, and a client-first approach to our team.  He also has some “celebrity” status from appearing in several TV shows and movies.

Professional Background

Before transitioning to real estate, Tim built a successful career in Alberta. He managed and sold a thriving rental business during the construction boom and later led the western division of a billboard advertising corporation. These roles honed his skills in business development, land acquisitions, negotiations, and customer service, creating a solid foundation for success in the competitive Vancouver real estate market.

Tim’s diverse professional background also includes acting in both television and movies, showcasing his ability to connect with people and adapt to various roles and situations. This unique experience has contributed to his polished communication skills and his ability to bring a fresh perspective to real estate. Check out his profile on IMDB

Passion for Vancouver

As a proud Vancouver resident of eight years, Tim is passionate about the city and its vibrant communities. His strong work ethic, creative problem-solving, and commitment to excellence make him a valuable asset to clients seeking to achieve their real estate goals. With the support of our award-winning team, Tim ensures every client benefits from the best resources and strategies available, making the process of buying or selling Vancouver real estate as seamless and stress-free as possible.

Connections to the Okanagan

In addition to his deep roots in Vancouver, Tim has family ties and valuable connections in the Okanagan region. This dual familiarity enhances our ability to serve clients interested in both the Vancouver and Okanagan real estate markets. Tim’s understanding of the unique characteristics and opportunities in these areas allows him to provide comprehensive insights and personalized service to clients considering properties in either location.

Advantage to Our Okanagan Office

Tim’s connections in the Okanagan are a significant advantage to our operations in the region. His network and understanding of the local market dynamics enable us to offer enhanced services to clients looking to buy or sell properties in the Okanagan. Whether it’s a waterfront home along Lake Okanagan or a family residence in Kelowna, Tim’s expertise bridges the gap between our Vancouver and Okanagan offices, ensuring a cohesive and informed real estate experience for our clients.

About Macdonald Realty

Established in 1944, Macdonald Realty is a leading real estate brokerage in British Columbia, offering a fully integrated range of services, including residential sales, commercial sales and leasing, property and strata management, project marketing, and development management services. With over 20 offices and more than 1,000 associates and staff members across the province, we are committed to providing exceptional service and expertise to our clients.

Looking Ahead

Tim’s addition to our team reflects our commitment to expanding our expertise and enhancing the services we offer to our clients. His unique blend of experience, passion for real estate, and connections across British Columbia position us to better serve clients in both Vancouver real estate and Okanagan markets. We are confident that Tim will play a pivotal role in helping our clients navigate the real estate market and achieve their goals.

Please join us in welcoming Tim Donadt to Macdonald Realty. We look forward to the positive impact he will have on our team and the exceptional service he will provide to our clients.

For more information or to connect with Tim, please contact our Vancouver office at:

Macdonald Realty Vancouver
2105 West 38th Avenue
Vancouver, BC V6M 1R8
Phone: 236.999.3378
Email: [email protected]

We are excited about the future and the opportunities that lie ahead with Tim as part of our team.

Looking Back, Moving Forward: A Reflective Start to 2025

As we step into 2025, it’s a moment to reflect on the transformative changes that shaped the real estate market in 2024. From shifts in the Bank of Canada’s interest rate strategy to bold CMHC mortgage reforms, last year brought opportunities and challenges that we navigated together with our clients. These changes have set the stage for a promising year ahead.

2024 in Review: Major Market Influences

Bank of Canada Interest Rates

The Bank of Canada’s approach to interest rates in 2024 had a significant impact on the market. While the year began with high rates that tightened affordability, the tide turned in the latter half with several key rate drops. These reductions lowered borrowing costs, restored market confidence, and allowed more Canadians to pursue their real estate goals.

For more on how interest rates evolved and their role in the market, visit the Bank of Canada’s key interest rate page.

CMHC Mortgage Rule Reforms

In September 2024, the government announced sweeping CMHC reforms aimed at unlocking homeownership opportunities. These included more accessible qualification criteria, extended amortization periods for first-time buyers, and reductions in mortgage insurance premiums. Combined with the rate drops later in the year, these changes opened doors for many new buyers, providing a boost to the market.

For full details on these reforms, visit the official government release.

2024 Recap for December

December closed out the year on a positive note:

• Sales Growth: 716 residential unit sales—a 30.7% increase compared to December 2023.
• Increased Inventory: A 14.1% rise in active listings, providing buyers with more choice heading into 2025.
• Pricing Trends: Central Okanagan single-family home prices rose slightly (+2.3%), while condo prices dipped, creating opportunities for various buyer segments.

Thank You to Our Clients

At Vrecko Real Estate Group, we are deeply grateful to our clients for trusting us with their largest investments. Your confidence and loyalty drive us to excel in delivering exceptional service and unmatched expertise. It has been our privilege to guide you through the opportunities and challenges of 2024.

As we look ahead to 2025, we are excited to continue working with you to achieve your real estate goals. Whether you’re buying, selling, or investing, let’s make this year a remarkable one together.

Thank you for being part of the Vrecko Real Estate family. Here’s to a successful and prosperous 2025!