Vancouver Market Update

Vancouver Market Update Vrecko Real Estate Group

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.