market report

Metro Vancouver Housing Market Report – March 2025

Michael He

07 Apr 2025 — 1 min read

In March 2025, Metro Vancouver’s real estate market reflected a growing gap between favorable buying conditions and actual buyer activity. Despite an increase in listings and improved conditions, sales were at their lowest for the month of March since 2019.

📊 Overall Market Summary

Metric	March 2025	March 2024	% Change	10-Year Average	Comparison to Avg
Total Sales	2,091	2,415	-13.4%	3,308	-36.8%
New Listings	6,455	5,002	+29.0%	5,572	+15.8%
Total Active Listings	14,546	10,552	+37.9%	10,038	+44.9%
Benchmark Price (All Homes)	$1,190,900	$1,198,100	-0.6%	—	—

🗣️ "Buyers in Metro Vancouver haven’t seen market conditions this favourable in years... 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

🔍 Sales-to-Active Listings Ratio

Property Type	Ratio	Market Indicator
Detached	10.3%	Buyers’ market
Attached	21.5%	Sellers’ market
Apartment	16.2%	Balanced market
Total	14.9%	Balanced market overall

Ratios below 12% = downward price pressure
Ratios above 20% = upward price pressure

🏠 Benchmark Prices by Property Type

Property Type	March 2025 Price	vs March 2024	vs Feb 2025
Detached	$2,034,400	+0.8%	+0.4%
Apartment	$767,300	-0.9%	+1.0%
Attached	$1,113,100	-0.8%	+0.2%

📉 Sales Volume by Property Type

Property Type	March 2025 Sales	March 2024 Sales	% Change
Detached	527	694	-24.1%
Apartment	1,084	1,207	-10.2%
Attached	472	495	-4.6%

📌 Key Observations

🏘️ Inventory Boom: March saw a sharp increase in new listings and total active listings, providing more choice for buyers.
📉 Demand Lagging: Despite buyer-friendly conditions (price relief, low rates), sales have slowed.
📈 Attached Segment Strength: Attached homes show signs of a sellers' market, driven by limited inventory.
📊 Market Stability: Overall, conditions are balanced with slight upward movement in benchmark prices month-over-month.

Home Sale Trend Stabilizing in June

While overall home sales remain lower than last year, the pace of decline has slowed significantly, suggesting that buyer demand may be gradually returning.

What Buyers are Looking for in 2025

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Is it Time to Let go?

You’ve been thinking about selling — but you keep pushing the thought aside. Whether it’s your family home, your first condo, or a rental you’ve held for years, letting go isn’t always easy. But sometimes, selling isn’t just the smart move — it’s the right one.