Greater Vancouver Real Estate Market Update Here

Metro Vancouver Real Estate Market Update     Here

Fraser Valley Real Estate Market Update              Here 

Detached Monthly Variances                                     Here

Attached Monthly Variances                                      Here

Get the Full Report                                                          Here

February 2025 GVR Residential Market Report – Key Highlights

1. Sales Decline & Market Balance

   • Residential sales in Metro Vancouver decreased 11.7% from February 2024 and 28.9% below the 10-year seasonal average.

   • Market conditions remain balanced following a surge in new listings in January.

2. Increase in Listings

   • 5,057 new listings in February 2025, a 10.9% increase from February 2024.

   • Total active listings reached 12,744, a 32.3% increase from the previous year, offering the highest home selection since pre-pandemic times.

3. Sales-to-Active Listings Ratio

   • Overall ratio: 14.8% (balanced market conditions).

   • By property type:

     • Detached: 10.7% (near downward pressure on prices).

     • Attached: 18.5%

     • Apartments: 16.8%

4. Price Trends

   • The MLS® Home Price Index benchmark for all residential properties: $1,169,100 (1.1% decrease YoY).

   • Detached homes: $2,006,100 (1.8% increase YoY).

   • Apartments: $747,500 (2.8% decrease YoY).

   • Townhouses: $1,087,100 (1.2% decrease YoY).

5. Interest Rate & Market Outlook

   • A potential Bank of Canada rate cut in mid-March could improve borrowing conditions.

   • With spring approaching, market activity may rise depending on buyer and seller confidence.

Would you like a deeper analysis on any specific aspect? Please reach out to me and I would be happy to have a discussion over a coffee. Rob Britch RE/MAX Select Realty 604-240-5813

Greater Vancouver Market Update Here

Metro Vancouver Market Update     Here

Fraser Valley Market Update              Here 

Detached Monthly Variances              Here

Attached Monthly Variances               Here 

Get the Full Report                                   Here 

In January 2025, the Greater Vancouver REALTORS® (GVR) reported a significant increase in homes newly listed on the MLS®, rising by 46 % year-over-year. This surge in listings indicates a growing eagerness among sellers to enter the market as the new year begins.  Residential sales in the region increased 8.8% from January 2024's recorded sales.  Andrew Lis, GVR’s director of economics and data analytics, noted that buyer demand had been gaining momentum over the last three months leading up to January. Yet now it seems that this momentum is shifting towards sellers as they take advantage of favourable market conditions at the start of 2025. Despite the influx of new listings, sales continue to outpace last year's figures, suggesting that there is still a notable appetite among buyers despite changing market dynamics. Price trends have remained relatively stable across all segments within the market.  

With over 32 years of experience,  let us Help You Make the Right Move in 2025!  

Greater Vancouver Market Update Here

Metro Vancouver Market Update     Here

Fraser Valley Market Update              Here

Detached Annual Variances                Here

Attached Annual Variances                 Here

Get the Full Report                                   Here

With borrowing costs now on the decline, we've seen buyers returning in numbers after a brief hiatus. The recent sales figures are trending back to long-term historical averages, which indicates there may still be significant potential upside for sales as we move into 2025—especially if this recent strength continues.

Notably, December 2024 saw remarkable increases in sales across various categories: detached homes rose over 30% compared to December 2023, apartment homes increased by 23.9%, and attached homes surged by an impressive 55.9%. This positions the market for a much more active year ahead than we've experienced in recent times.

For those considering buying, now is the time to act before the Spring Frenzy kicks in! And for our sellers, it’s a great opportunity to list your property with less competition currently in the market.

If you have any questions or would like to discuss these exciting developments further, please feel free to reach out—I’m always here to help!

HOW THE LATEST BANK OF CANADA RATE CUT MAY IMPACT YOU

• The Bank of Canada (BoC) just cut its lending rate by 50 basis points, bringing it down from 3.75% to 3.25%

• When the BoC cuts its lending rate, it can become cheaper for Canadians to borrow money.

• For Canadians with variable rate mortgages, rate cuts can mean more of their money goes toward the principal on their mortgage, and less towards interest.

• For Canadians with fixed rate mortgages, this recent BoC rate cut will not immediately make an impact. 

• Fixed rate mortgages are based on five-year bond yields, and financial markets have already been expecting the BoC to cut rates this year. Those expected cuts are, to some degree, already factored into bond yields, and are therefore reflected in current fixed mortgage rates.

• TD Economics believe there will be more rate cuts in the new year and expect the BoC’s lending rate to be cut down to 2.25% by the end of 2025.

Is your mortgage due in 2025?  Reach out to me and I'd be happy to refer you to a preferred Mortgage Broker who can guide you in the right direction.  

Thinking of making a move in 2025?  With over 31 years of experience in Residential Real Estate, let us Help You Make the Right Move! 

Greater Vancouver Market Update Here

Metro Vancouver Market Update     HERE

Fraser Valley Market Update              HERE

Detached Monthly Variances              Here

Attached Monthly Variances               Here 

Get the Full Report                                   Here

Home buyer demand continued to strengthen in November! It seems like buyers are continuing to take advantage of the relatively balanced market conditions while they last. You know how it goes—when the market feels right, people jump in. And that’s exactly what’s happening now.

Even though we’re seeing an uptick in demand as we approach year-end, the number of newly listed properties has been holding steady. This balance is crucial because it helps keep prices from skyrocketing across all segments. But here's where things get interesting: as we move into the New Year, if this strong demand keeps up and new listings don’t rise to meet it, we could be looking at a shift in dynamics. It might not be long before upward pressure on prices makes a comeback! So for anyone thinking about buying or selling soon, keeping an eye on these trends is more important than ever.