In March 2025, Metro Vancouver’s real estate market reflected a growing gap between favorable buying conditions and actual buyer activity. Despite an increase in listings and improved conditions, sales were at their lowest for the month of March since 2019.
📊 Overall Market Summary
| Metric | March 2025 | March 2024 | % Change | 10-Year Average | Comparison to Avg |
|---|
| Total Sales | 2,091 | 2,415 | -13.4% | 3,308 | -36.8% |
| New Listings | 6,455 | 5,002 | +29.0% | 5,572 | +15.8% |
| Total Active Listings | 14,546 | 10,552 | +37.9% | 10,038 | +44.9% |
| Benchmark Price (All Homes) | $1,190,900 | $1,198,100 | -0.6% | — | — |
🗣️ "Buyers in Metro Vancouver haven’t seen market conditions this favourable in years... but so far, buyers have not shown up in the numbers we typically see at this time of year."
— Andrew Lis, GVR Director of Economics and Data Analytics
🔍 Sales-to-Active Listings Ratio
| Property Type | Ratio | Market Indicator |
|---|
| Detached | 10.3% | Buyers’ market |
| Attached | 21.5% | Sellers’ market |
| Apartment | 16.2% | Balanced market |
| Total | 14.9% | Balanced market overall |
Ratios below 12% = downward price pressure
Ratios above 20% = upward price pressure
🏠 Benchmark Prices by Property Type
| Property Type | March 2025 Price | vs March 2024 | vs Feb 2025 |
|---|
| Detached | $2,034,400 | +0.8% | +0.4% |
| Apartment | $767,300 | -0.9% | +1.0% |
| Attached | $1,113,100 | -0.8% | +0.2% |
📉 Sales Volume by Property Type
| Property Type | March 2025 Sales | March 2024 Sales | % Change |
|---|
| Detached | 527 | 694 | -24.1% |
| Apartment | 1,084 | 1,207 | -10.2% |
| Attached | 472 | 495 | -4.6% |
📌 Key Observations
- 🏘️ Inventory Boom: March saw a sharp increase in new listings and total active listings, providing more choice for buyers.
- 📉 Demand Lagging: Despite buyer-friendly conditions (price relief, low rates), sales have slowed.
- 📈 Attached Segment Strength: Attached homes show signs of a sellers' market, driven by limited inventory.
- 📊 Market Stability: Overall, conditions are balanced with slight upward movement in benchmark prices month-over-month.
