Metro Vancouver Real Estate Update: Is Now the Time to Buy or Sell?

The Metro Vancouver real estate market is holding steady as we transition into spring, with a mix of increasing inventory and tempered buyer activity. If you’ve been watching the market closely, you might have noticed a shift—more homes are being listed, but sales are lagging behind. What does this mean for buyers and sellers in Vancouver’s housing market? Let’s break it down.

Vancouver Real Estate Market: Listings Rise, Sales Slow

According to the latest data from the Greater Vancouver Realtors (GVR), Metro Vancouver home sales totaled 1,827 in February—an 11.7% decrease from February 2024 and a striking 28.9% below the 10-year seasonal average. On the flip side, the number of newly listed homes in Vancouver surged to 5,057, marking a 10.9% increase from last year and an 11.6% jump above the 10-year seasonal average.

With a total of 12,744 active listings in Vancouver, a 32.3% rise from February 2024, buyers now have more options to choose from, reducing the sense of urgency that previously fueled rapid price growth.

Vancouver Home Prices: How Are They Holding Up?

While an influx of Vancouver real estate listings typically leads to price stabilization, different property types are responding in unique ways:

• Detached Homes in Vancouver: Sales dropped 14.8% year-over-year, but prices remained steady at $2,006,100—up 1.8% from last year.

• Vancouver Condos & Apartments: With 976 units sold (down 10.6% from February 2024), the Vancouver condo price dipped slightly to $747,500, a 2.8% decline year-over-year.

• Vancouver Townhouses for Sale: Sales dropped 10.9%, and the townhouse price in Vancouver slid to $1,087,100—a 1.2% decline from 2024.

The overall Vancouver home price across all property types is $1,169,100, reflecting a slight 1.1% decrease year-over-year and a 0.3% dip from January 2025. This means we’re in a relatively stable pricing environment, but buyers now have more negotiating power than they’ve had in previous years.

What’s Next for the Vancouver Housing Market?

Typically, the spring real estate market in Vancouver brings increased activity as buyers and sellers re-engage after the winter slowdown. The key question is: will buyers take advantage of these balanced conditions, and will sellers be motivated to list at competitive prices?

For buyers, now is an excellent time to shop around and find the right deal without feeling rushed. For sellers, pricing your Vancouver home strategically will be crucial to standing out in a growing pool of listings.

Whether you're looking to buy a home in Vancouver, sell your property, or just stay informed, we're here to help you navigate Metro Vancouver’s real estate market. Have questions? Let’s connect and discuss your options!