A market made for buyers is missing buyers Home sales registered on the MLS® in the Metro Vancouver* for the month of March were the lowest going back to 2019 for the same month, while active listings continue their upward trend. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,091 in March 2025, a 13.4 percent decrease from the 2,415 sales recorded in March 2024. This was 36.8 percent below the 10-year seasonal average (3,308). "If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to engage — but so far, buyers have not shown up in the numbers we typically see at this time of year." Andrew Lis, GVR director of economics and data analytics There were 6,455 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 percent increase compared to the 5,002 properties listed in March 2024. This was 15.8 percent above the 10-year seasonal average (5,572). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,546, a 37.9 percent increase compared to March 2024 (10,552). This is 44.9 per cent above the 10-year seasonal average (10,038). Across all detached, attached and apartment property types, the sales-to-active listings ratio for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 percent for detached homes, 21.5 per cent for attached, and 16.2 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 percent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. Sales-to-active listings ratio - March 2025 Detached 10.3% Attached 21.5% Apartment 16.2% Total 14.9% “The current market bears resemblance to early 2023 where price trends were generally flat, and sales started the year off slowly before gaining momentum in the spring and summer months,” Lis said. “While market conditions overall remain balanced, it’s worth noting that the attached segment continues teetering on the threshold of a sellers’ market as a result of a chronic undersupply, with only about 2,200 active listings available for prospective buyers throughout the entire region.” The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,190,900. This represents a 0.6 per cent decrease over March 2024 and a 0.5 percent increase compared to February 2025. Sales of detached homes in March 2025 reached 527, a 24.1 percent decrease from the 694 detached sales recorded in March 2024. The benchmark price for a detached home is $2,034,400. This represents a 0.8 percent increase from March 2024 and a 0.4 percent increase compared to February 2025. Sales of apartment homes reached 1,084 in March 2025, a 10.2 percent decrease compared to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300. This represents a 0.9 percent decrease from March 2024 and a 1 percent increase compared to February 2025. Attached home sales in March 2025 totalled 472, a 4.6 percent decrease compared to the 495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a 0.8 percent decrease from March 2024 and a 0.2 percent increase compared to February 2025. * Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
03-04-2025
Vancouver Real Estate Market Update
I have just recently sold this listing at 611 4759 Valley Drive, Vancouver.
31-03-2025
Recently Sold
I have just recently sold this listing at 2055 W 53rd Avenue, Vancouver.
17-03-2025
Recently Sold
View my new listing for sale SOLD at 2055 W 53rd Avenue, Vancouver and currently listed at $5,099,000.SOLDLuxury 6 bedroom, 4.5 bathroom home on deep 154 ft lot. No lane. Heatpump/AC, 10'' coffered ceilings, gourmet eat-in kitchen w 6-burner Wolf cooktop, Miele dishwasher, Kitchen-Aid sidebyside fridge, double ovens, wine fridge, quality millwork (could add spice kitchen). Large family room w fireplace. Cross-hall living/dining room (opens to deck) + office/den on main. Lower level big Rec room + 2 bedroom, full bath & craft room/workshop. Could be a suite. N-facing garden w 45'' lap pool & lots of room to garden and lounge. 2 car garage + 1-2 in driveway. Excellent location, close to Kerrisdale W41 st & W57th shopping, Arbutus path, Maple Grove Elementary, Magee Secondary, Crofton and St. George''s 5-min away. Easy airport access. Immediate possession possible. Open House CANCELLED March 30th
14-03-2025
New Listings
From Great Vancouver Realtors: VANCOUVER, BC – March 4, 2025 – After a 46 per cent year-over-year increase of new listings in January, the number of newly listed properties on the MLS® in Metro Vancouver* rose more moderately in February helping keep market conditions in balanced territory. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,827 on Metro Vancouver’s Multiple Listing Service® (MLS®) in February 2025, an 11.7 per cent decrease from the 2,070 sales recorded in February 2024. This total was 28.9 per cent below the 10-year seasonal average (2,571). “After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions,” Andrew Lis, GVR’s director of economics and data analytics said. “With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre- pandemic times.” Read more here
10-03-2025
Vancouver Real Estate Market Update
I have just recently sold this listing at 301 2365 W 3RD AVENUE, Vancouver.
09-02-2025
Recently Sold
Home sellers off to an active start in 2025 January 2024 1,427 Sold January 2025 1,552 Sold (8.8%) Residential property sales in Metro Vancouver Homes newly listed on the MLS® in Metro Vancouver* rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749). "In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year. Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024." Andrew Lis, GVR director of economics and data analytics Read more here
06-02-2025
Vancouver Real Estate Market Update
Get ready, there is a lot of change coming to the area around Jericho Park. FROM THE DAILY HIVE "It is expected the site will be built in four phases over 25 years, with the first phase situated on the western end of the site. The site is framed by West 4th Avenue to the north, Trimble Park to the west, West 8th Avenue to the south, and Highbury Street to the east." Much depends on the extension of Sky Train to UBC which is now a priority for the BC NDP. READ MORE HERE
22-01-2025
Jericho Lands
News Release GVR FOR IMMEDIATE RELEASE: Home sales register a strong finish to cap off 2024 VANCOUVER, BC – January 3, 2025 – Home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver1 rose over thirty per cent in December, compared to the previous year, signalling strengthening demand-side momentum to close out 2024. The Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 26,561 in 2024, a 1.2 per cent increase from the 26,249 sales recorded in 2023, and a 9.2 per cent decrease from the 29,261 sales in 2022. Last year’s sales total was 20.9 per cent below the 10-year annual sales average (33,559). “Looking back on 2024, it could best be described as a pivot year for the market after experiencing such dramatic increases in mortgage rates in the preceding years,” said Andrew Lis, GVR’s director of economics and data analytics. “With borrowing costs now firmly on the decline, buyers have started to show up in numbers after somewhat of a hiatus – and this renewed strength is now clearly visible in the more recent monthly data.” Properties listed on the MLS® system in Metro Vancouver totalled 60,388 in 2024. This represents an 18.7 per cent increase compared to the 50,894 properties listed in 2023. This was 9.7 per cent above the 55,047 properties listed in 2022. The total number of properties listed last year was 5.7 per cent above the region’s 10-year annual average (57,136). Currently, the total number of homes listed for sale on the MLS® system in Metro Vancouver is 10,948, a 24.4 per cent increase compared to December 2024 (8,802). This total is also 25.3 per cent above the 10-year seasonal average (8,737). The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,171,500. This represents a 0.5 per cent increase over December 2023 and a 0.1 per cent decrease compared to November 2024. “Disappointingly, sales came in shy of our forecasted target for the year, but the December figures signal an emerging pattern of strength in home sales, building on the momentum seen in previous months,” Lis said. “These more recent sales figures are now trending back towards long-term historical averages, which suggests there may still be quite a bit of potential upside for sales as we head into 2025, should the recent strength continue. “Although sales activity had a slower start to the year, price trends began 2024 on the rise and closed out the year on a flatter trajectory. Most market segments saw year-over-year increases of a few per cent except for apartment units, which ended 2024 roughly flat. With the data showing renewed strength to finish the year however, it looks as though the 2025 market is positioned to be considerably more active than we’ve seen in recent years.” December 2024 summary Residential sales in the region totalled 1,765 in December 2024, a 31.2 per cent increase from the 1,345 sales recorded in December 2023. This was 14.9 per cent below the 10-year seasonal average (2,074) for the month. There were 1,676 detached, attached and apartment properties newly listed for sale on the MLS® system in Metro Vancouver in December 2024. This represents a 26.3 per cent increase compared to the 1,327 properties listed in December 2023. This was 1.1 per cent below the 10- year seasonal average (1,695). Across all detached, attached and apartment property types, the sales-to-active listings ratio for December 2024 is 16.8 per cent. By property type, the ratio is 12.1 per cent for detached homes, 23.6 per cent for attached, and 18.7 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. Sales of detached homes in December 2024 reached 494, a 31.4 per cent increase from the 376 detached sales recorded in December 2023. The benchmark price for a detached home is $1,997,000. This represents a two per cent increase from December 2023 and is nearly unchanged compared to November 2024. Sales of apartment homes reached 891 in December 2024, a 23.9 per cent increase compared to the 719 sales in December 2024. The benchmark price of an apartment home is $749,900. This represents a 0.1 per cent decrease from December 2023 and a 0.4 per cent decrease compared to November 2024. Attached home sales in December 2024 totalled 371, a 55.9 per cent increase compared to the 238 sales in December 2024. The benchmark price of a townhouse is $1,114,600. This represents a 3.4 per cent increase from December 2023 and a 0.3 per cent decrease compared to November 2024. READ MORE HERE Editor’s Note: 1. Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler. 2. On February 12, 2024, the Real Estate Board of Greater Vancouver changed its organizational name to Greater Vancouver REALTORS®. Greater Vancouver REALTORS® is an association representing more than 15,000 REALTORS® and their companies. The association provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.gvrealtors.ca.
07-01-2025
Vancouver Real Estate Market Update
Grants and 2% interest loans are available through the provincial and federal governments. Read about it here
02-01-2025
Secondary Suites