February brings balance to Metro Vancouver’s Housing Market

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