Somehow it went from January to April, but we’re into Spring and I’m looking forward to the yearly Spring increase in *good* inventory. As much as the stats indicate that inventory is high, it doesn’t feel like it. I have clients waiting for good inventory but we haven’t seen it yet, though I’m hopeful that with March Break behind us, we’ll see an increase in some good options. It seems to me that many homes for sale are tenanted or estate sales and those properties never show as well as something that has been maintained by modern owners. And this isn’t a surprise given the market – times are uncertain, life is expensive and homeowners who want to climb the property ladder are putting their plans on hold for now. Having said that, when a good property is listed, Buyers are there to buy it and still sometimes in multiple offers (especially in the detached house and townhouse markets). Sellers typically need to be priced reasonable or low to see success – those who are priced high will sit on the market.
The uncertainty with Trump continues. I am hopeful Canadians elect a Liberal Government in the next election as the Liberals offer the best opportunity for consideration of all Canadians and some certainty in an uncertain world (something Mark Carney has a good track record of showing). The next interest rate announcement is April 16th, where economists are predicting either a pause or a drop. In general I think we’ll see rates come down more than the Bank of Canada initially planned, but it might not happen as quickly as hoped as the Bank of Canada might give the economy time to settle before making any further decisions.
So to summarize the market right now, inventory is higher than we’ve seen in a few years and sales are lower. The sales to active ratio shows either a Buyer’s Market or Balanced Market, depending on type or property and neighbourhood (East Van is a Balanced/Seller’s Market whereas the Westside is more Balanced/Buyer’s Market). If you’d like to see specific stats for specific neighbourhoods – reach out! I’m happy to dive in deeper for certain markets (i.e. detached houses in Grandview and Mount Pleasant). 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, financially prepared and ready for a reno. There are a ton of deals in the 1 bedroom condo market right now.
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:
Home sales registered on the MLS® in Metro Vancouver for the month of March were the lowest going back to 2019 for the same month, while active listings continue to their upward trend.
“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,” said Andrew Lis, GVR’s director of economics and data analytics. “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.”
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,546, a 37.9 per cent 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 per cent for detached homes, 21.5 per cent for attached, and 16.2 per cent for apartments.
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 per cent increase compared to February 2025.
Onto the stats:
Vancouver West Real Estate Stats up to and including March 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 March 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.