GVR Market Review
Greater Vancouver’s Market in Motion: More Listings, Stable Prices & Opportunities Ahead!
Wondering what changed in Metro Vancouver's real estate market last month?
After a dynamic start to the year, Metro Vancouver’s housing market is showing signs of settling into more balanced conditions. February 2025 saw a continued increase in new listings, providing buyers with more options while keeping pricing trends relatively steady. While sales activity remains below historical averages, the growing inventory is offering buyers more negotiating power.
With spring around the corner and potential interest rate cuts on the horizon, the market is entering a critical transition period. Buyers and sellers alike are watching closely to determine their best move.
Let’s break down the numbers and what they mean for you.
Market at a Glance
Sales Activity:
- 1,827 residential sales in February 2025
- Down 11.7% from February 2024
- 28.9% below the 10-year average
New Listings:
- 5,057 properties listed in February 2025
- Up 10.9% from February 2024
- 11.6% above the 10-year seasonal average
Total Active Listings:
- 12,744 homes on the market
- Up 32.3% from February 2024
- 36.4% higher than the 10-year average
MLS® HPI Composite Benchmark Price:
- $1,169,100
- Down 1.1% year-over-year
- Down 0.3% from January 2025
Metro Vancouver remains in balanced market territory, meaning neither buyers nor sellers hold a distinct advantage.
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Breaking Down the Property Types
Detached Homes
- 477 sales in February 2025
- Down 14.8% from February 2024
- Benchmark Price: $2,006,100
- Up 1.8% from February 2024
- Unchanged from January 2025
Apartment Homes
- 976 sales in February 2025
- Down 10.6% from February 2024
- Benchmark Price: $747,500
- Down 2.8% from February 2024
- Down 0.1% from January 2025
Attached Homes (Townhouses)
- 359 sales in February 2025
- Down 10.9% from February 2024
- Benchmark Price: $1,087,100
- Down 1.2% from February 2024
- Down 1.7% from January 2025
Metro Vancouver Market Highlights February 2025:
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What’s Driving These Trends?
- Potential Interest Rate Cuts – The Bank of Canada is considering a rate reduction as early as mid-March, which could improve affordability and increase buyer confidence. Lower borrowing costs may encourage more buyers to enter the market, potentially increasing demand and stabilizing sales numbers.
- Higher Inventory = More Choice for Buyers – The increase in new listings is helping balance the market after years of limited supply. More options allow buyers to be more selective and negotiate better terms.
- Affordability Pressures Continue – While prices have softened slightly, affordability remains a challenge. Many buyers remain priced out, particularly in the detached market, leading to more demand in the condo and townhouse segments.
- Seasonal Market Shifts – Spring is historically a busier time in real estate. More sellers are expected to list their homes, and buyers who have been waiting for rate cuts may enter the market.
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Expert Insight
Andrew Lis, GVR’s director of economics and data analytics, commented on the current market dynamics:
“After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions. With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times.”
Industry experts are watching closely to see how affordability trends evolve in the coming months. As Lis further notes:
“While overall pricing has remained relatively stable, certain market segments are seeing slight declines, particularly in the attached and apartment sectors. If interest rates do decrease, we may see increased demand in these areas, leading to renewed price pressures by the second half of the year.”
With borrowing costs potentially becoming more favorable, buyers who have been waiting on the sidelines may soon enter the market, increasing competition. Sellers should prepare accordingly by ensuring their properties are well-positioned to attract serious buyers before conditions shift again.
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What Does This Mean for Buyers & Sellers?
For Buyers:
- More Choices, More Leverage – With higher inventory, buyers have a wider selection and stronger negotiating power.
- Lower Rates Ahead? – If interest rates drop, buying power could increase. Getting pre-approved now may help secure a better rate before demand rises.
- Act Before Prices Shift – While prices are stable, increased buyer activity later this year could push them up.
For Sellers:
- Strategic Pricing is Key – While bidding wars have cooled, well-priced homes are still selling efficiently.
- Stand Out to Sell – With more competition, staging and presentation matter more than ever.
- Know Your Market – Detached homes are stable, but condos and townhouses are seeing slight price adjustments.
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Balance reins in February
Greater Vancouver Home Sales 2025 VS 2024
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Final Thoughts: Stability Leading into Spring
The February data suggests that Metro Vancouver’s market is stabilizing after years of extreme fluctuations. With inventory up, sales down, and interest rate decisions looming, all eyes are on the spring market to determine whether demand will pick up.
- If you’re thinking of buying, now is an excellent time to explore the increased inventory and secure a mortgage pre-approval in case rates drop.
- If you’re considering selling, pricing your home correctly and leveraging strategic marketing will be key to attracting the right buyers in this balanced market.
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CLICK HERE FOR THE FULL GVR February 2025 STATISTICS PACKAGE
As always, we’re here to help you navigate the market.
Whether you have questions about your neighborhood’s trends or need personalized advice on buying or selling, reach out—we’d love to chat! 
Ryan: 604.561.2127
Rod & Rhea: 604.240.1927
[email protected]