It’s amazing how fast the year goes from “it’s only February” to “it’s the last month in the Spring market”. We’re into June and the market has has a lot of activity since my last update! A welcome change from what was a slow April. There was a nice increase in Buyer energy after the May long weekend leading to a lot of sales. It seems as if a number of Buyers out there were keen to get their search over with and for a variety of reasons – maybe they’ve already sold, maybe they want their search over with before summer, maybe their finally happy with the drop in value they’ve seen – or maybe it’s a mix of all 3. I think we’ll see the market slow down in the summer – mostly due to a lack of good options for Buyers – with another jolt of energy in the Fall thanks to fresh new inventory and Buyers who are finally read to take advantage of some deals.
There was another Bank of Canada announcement on June 4th with rates remaining the same. The overall expectation is that there will be 2 more small drops by the end of the year, but the BoC has said they are being conservative and keeping rates the same for now.
Overall inventory, sales and prices have been pretty stagnant last month. I was expecting a bigger and better increase in inventory after the May long weekend, but it never truly came. The well priced units are selling but the high priced units are not – don’t be shy to submit a low off on these higher priced units; some Sellers are willing to negotiate their sale price but aren’t willing to officially drop their list price. So 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 potentially ready for some minor renos (don’t let paint and other easy cosmetic changes scare you away).
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:
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,228 in May 2025, an 18.5 per cent decrease from the 2,733 sales recorded in May 2024. This was 30.5 per cent below the 10-year seasonal average (3,206).
“While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics. “On a year-to-date basis, sales in 2025 rank among the slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and 2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but whether sales in 2025 might follow a similar pattern remains the million-dollar question.”
Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2025 is 13.4 per cent. By property type, the ratio is 10.2 per cent for detached homes, 17.4 per cent for attached, and 14.7 per cent for apartments.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,177,100. This represents a 2.9 per cent decrease over May 2024 and a 0.6 per cent decrease compared to April 2025.
Onto the stats:
Vancouver West Real Estate Stats up to and including May 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 May 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.