Spring Market Brings Abundance of Opportunity for Buyers
VANCOUVER, BC – May 2, 2025 – The slowdown in home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver* that began early this year continued in April, with sales down nearly 24 per cent year-over-year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,163 in April 2025, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024. This was 28.2 per cent below the 10-year seasonal average (3,014).
“From a historical perspective, the slower sales we’re now seeing stand out as unusual, particularly against a backdrop of significantly improved borrowing conditions, which typically helps to boost sales,” said Andrew Lis, GVR’s director of economics and data analytics.
“What’s also unusual is starting the year with Canada’s largest trading partner threatening to tilt our economy into recession via trade policy, while at the same time having Canadians head to the polls to elect a new federal government. These issues have been hard to ignore, and the April home sales figures suggest some buyers have continued to patiently wait out the storm.”
New Listings and Inventory
There were 6,850 new listings (detached, attached, and apartment properties) on the MLS® in April 2025, a 3.4 per cent decrease compared to April 2024 (7,092 listings), but 19.5 per cent above the 10-year seasonal average (5,731).
The total number of properties currently listed for sale in Metro Vancouver sits at 16,207, a 29.7 per cent increase over April 2024 (12,491) and 47.6 per cent above the 10-year average (10,979).
Sales-to-Active Listings Ratio
The overall sales-to-active listings ratio for April 2025 is 13.8 per cent. By property type:
- Detached homes: 9.9%
- Attached homes: 17.5%
- Apartments: 15.7%
Generally, downward pressure on home prices occurs when the ratio stays below 12% for a sustained period. Upward pressure typically occurs when the ratio exceeds 20% over several months.
“While the headlines have been filled with worrying news lately, there are positives in the current market worth highlighting, especially for buyers,” Lis said. “Inventory levels have just crested 16,000 for the first time since 2014, prices have stayed fairly stable for the past few months, and borrowing costs are the lowest they’ve been in years. These factors benefit buyers, and with balanced conditions across the market overall, there’s plenty of opportunity for anyone looking to make a purchase.”
Benchmark Prices and Sales by Property Type
All Residential Properties
Benchmark Price: $1,184,500
This is a 1.8% decrease compared to April 2024 and a 0.5% decrease from March 2025.
Detached Homes
Sales: 578 (down 29% from April 2024)
Benchmark Price: $2,021,800
This reflects a 0.7% decrease year-over-year and a 0.6% monthly decline.
Apartment Homes
Sales: 1,130 (down 20.2% from April 2024)
Benchmark Price: $762,800
This marks a 2% decrease from April 2024 and a 0.6% decline from March 2025.
Attached Homes (Townhouses)
Sales: 442 (down 23.8% from April 2024)
Benchmark Price: $1,102,300
This represents a 2.9% decrease year-over-year and a 1% drop from March 2025.
Source - GVR
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