Happy March Everyone! I spent some time this weekend pulling the mulch off my garden so the spring flowers can be seen. Colour me thrilled to experience Spring weather and longer days.
Have you been watching the news? For the second time in a few years we’ve found ourselves in unprecedented times thanks to Trump and his insane policies. Tariff’s came into effect today, and with that some level of uncertainty over the next few months with regards to how long they will be in place and how it will effect the economy. Real Estate is typically quite resilient, as is Vancouver itself. Thankfully, we aren’t as exposed to the industries that will be significantly effected by the tariff’s, and there are some good ideas floating around on how to help our own country via new policies and trade with other nations. We will likely see rates come down more than they were originally expected to drop given this news, which will be welcome news for variable rate owners and those who do decide to jump into the market! But this uncertainty will lead to some buyers and sellers to take a wait and see approach, which will limit inventory and sales.
So overall I believe this will lead to a bit of a stall in the market. There will be certain markets that are firmly in Buyer’s Market territory, specifically high rise units in large part due to the absence of investor buyers, but townhouses and entry level houses will likely remain quite busy due to the scarcity of good options and the need for growing families to move into something that fits their family.
Some of the best deals on real estate are when everyone else pulls back. There are currently deals out there and there will continue to be deals out there during these uncertain times, you’ll just have to be looking and financially prepared.
As always, Real Estate should be viewed as a long term asset – you can’t purchase something with the expectation that it will make you a ton of money in the short term these days. You’re buying to pay down your mortgage and eventually have plenty of equity and a home to call your own.
Here’s a snippet from the Real Estate Board’s Monthly Update:
“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.”
There were 5,057 detached, attached and apartment properties newly listed for sale on the MLS® in February 2025. This represents a 10.9 per cent increase compared to the 4,560 properties listed in February 2024. This was 11.6 per cent above the 10-year seasonal average (4,530).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2025 is 14.8 per cent. By property type, the ratio is 10.7 per cent for detached homes, 18.5 per cent for attached, and 16.8 per cent for apartments.
“Balanced market conditions typically bring a flatter price trajectory, and we’ve seen prices across all segments remain in a holding pattern for the past few months,” Lis said. “But with the active spring season just around the corner, it will be interesting to see whether buyers take advantage of some of the most favourable market conditions seen in years, and whether sellers change their willingness to bring their properties to market.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,169,100. This represents a 1.1 per cent decrease over February 2024 and a 0.3 per cent decrease compared to January 2025.
Onto the stats:
Vancouver West Real Estate Stats up to and including February 2025
HPI Price for Vancouver West
*Unfortunately HPI Price can’t be any more specific than Condo/Townhouse/House*
Average Sales Price for Vancouver West
Median Percentage of Original Price for Vancouver West
New Listings for Vancouver West
Total Inventory for Vancouver West
Total Sales for Vancouver West
Sales to Active Ratio for Vancouver West
Median Days on Market for Vancouver West
East Vancouver Real Estate Stats up to and including February 2025
HPI Price for East Vancouver
*Unfortunately HPI Price can’t be any more specific than Condo/Townhouse/House*
Average Sales Price for East Vancouver
Median Percentage of Original Price for East Vancouver
New Listings for East Vancouver
Total Inventory for East Vancouver
Total Sales for East Vancouver
Sales to Active Ratio for East Vancouver
Median Days on Market for East Vancouver
As always, if you have questions on a particular kind of property or neighbourhood, get in touch with me!
And if you’re thinking about selling your property, give me a call to chat about value, pricing strategy and the sale process. There are plenty of details to chat about – including timing, value, staging and your potential purchase – so don’t hesitate to contact me if you’d like to get started kristi@realestatevancity.ca or 778-387-7371. The better you understand your current value and what Buyers may be looking for, the more successful your sale.