Metro Vancouver Real Estate Market Update – March 2025

Posted on Apr 02, 2025


A Buyer’s Market... Without the Buyers?

March 2025 marked one of the slowest Marches for home sales since 2019—despite conditions that strongly favour buyers. Inventory continues to climb, mortgage rates are down, and prices are holding steady… yet many buyers remain cautious.Let’s take a closer look at what’s happening on the ground.

Market Snapshot – March 2025

  • Sales: 2,091 homes sold
    ▸ Down 13.4% from March 2024
    ▸ 36.8% below the 10-year seasonal average
  • New Listings: 6,455
    ▸ Up 29% year-over-year
    ▸ 15.8% above the 10-year average
  • Active Listings: 14,546
    ▸ Up 37.9% year-over-year
    ▸ Highest inventory in nearly a decade

Benchmark Prices

Despite the slow sales, prices across Metro Vancouver remained relatively stable in March:
  • Detached: $2,034,400
    ▸ +0.8% YoY | +0.4% MoM
  • Townhouses: $1,113,100
    ▸ -0.8% YoY | +0.2% MoM
  • Apartments: $767,300
    ▸ -0.9% YoY | +1.0% MoM
The composite benchmark across all property types now sits at $1,190,900, a slight 0.6% decrease year-over-year, but still up 0.5% from February.

Sales-to-Active Listings Ratios

These ratios help us understand where we stand in terms of market conditions:
  • Overall Market: 14.9% (Balanced)
  • Detached Homes: 10.3% → Buyer's Market
  • Townhouses: 21.5% → Seller’s Market
  • Condos: 16.2% → Balanced
Townhouses remain in high demand due to chronic undersupply, while detached homes are facing downward price pressure if this trend continues.

What It All Means

  • Buyers Have Leverage: Low rates, more choices, and flat prices = opportunity. But hesitation still dominates.
  • Sellers Are Engaged: Listings are up. Many are ready to negotiate or meet the market.
  • Townhouses Remain Competitive: Tight inventory in the attached segment is keeping pressure on pricing.
  • Detached Homes Show Signs of Softening: More selection and slower sales are shifting balance in favor of buyers.

Looking Ahead

This market has strong parallels to early 2023—a slow start followed by increased momentum in spring and summer. If history repeats, we could see a burst of activity as we head deeper into Q2.

🏡 Thinking About Making a Move?

Whether you’re buying, selling, or just keeping an eye on the market, I’m here to help make sense of the numbers—and help you build the right plan.
📞 Call/Text: 604-805-8885
📧 Email: Bradley@BradleyWattum.com
Let’s turn today’s data into tomorrow’s opportunity.

[FULL MARKET REPORT HERE]
Homes may come and go—but timing, strategy, and confidence make all the difference.

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