VANCOUVER, BC – May 2, 2025
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.”
There were 6,850 detached, attached and apartment properties newly listed for sale on the
MLS® in Metro Vancouver in April 2025. This represents a 3.4 per cent decrease compared to
the 7,092 properties listed in April 2024 and was 19.5 per cent above the 10-year seasonal
average (5,731) for the month.
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 16,207, a 29.7 per cent increase compared to April 2024 (12,491). This is 47.6 per
cent above the 10-year seasonal average (10,979).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for April 2025 is 13.8 per cent. By property type, the ratio is 9.9 per cent for detached homes,
17.5 per cent for attached, and 15.7 per cent for apartments.
Analysis of the historical data suggests downward pressure on home prices occurs when the
ratio dips below 12 per cent for a sustained period, while home prices often experience
upward pressure when it surpasses 20 per cent 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.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,184,500. This represents a 1.8 per cent decrease over April
2024 and a 0.5 per cent decrease compared to March 2025.
Sales of detached homes in April 2025 reached 578, a 29 per cent decrease from the 814
detached sales recorded in April 2024. The benchmark price for a detached home is
$2,021,800. This represents a 0.7 per cent decrease from April 2024 and a 0.6 per cent
decrease compared to March 2025.
Sales of apartment homes reached 1,130 in April 2025, a 20.2 per cent decrease compared to
the 1,416 sales in April 2024. The benchmark price of an apartment home is $762,800. This
represents a two per cent decrease from April 2024 and a 0.6 per cent decrease compared to
March 2025.
Attached home sales in April 2025 totalled 442, a 23.8 per cent decrease compared to the 580
sales in April 2024. The benchmark price of a townhouse is $1,102,300. This represents a 2.9
per cent decrease from April 2024 and a one per cent decrease compared to March 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.”
There were 6,850 detached, attached and apartment properties newly listed for sale on the
MLS® in Metro Vancouver in April 2025. This represents a 3.4 per cent decrease compared to
the 7,092 properties listed in April 2024 and was 19.5 per cent above the 10-year seasonal
average (5,731) for the month.
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 16,207, a 29.7 per cent increase compared to April 2024 (12,491). This is 47.6 per
cent above the 10-year seasonal average (10,979).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for April 2025 is 13.8 per cent. By property type, the ratio is 9.9 per cent for detached homes,
17.5 per cent for attached, and 15.7 per cent for apartments.
Analysis of the historical data suggests downward pressure on home prices occurs when the
ratio dips below 12 per cent for a sustained period, while home prices often experience
upward pressure when it surpasses 20 per cent 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.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,184,500. This represents a 1.8 per cent decrease over April
2024 and a 0.5 per cent decrease compared to March 2025.
Sales of detached homes in April 2025 reached 578, a 29 per cent decrease from the 814
detached sales recorded in April 2024. The benchmark price for a detached home is
$2,021,800. This represents a 0.7 per cent decrease from April 2024 and a 0.6 per cent
decrease compared to March 2025.
Sales of apartment homes reached 1,130 in April 2025, a 20.2 per cent decrease compared to
the 1,416 sales in April 2024. The benchmark price of an apartment home is $762,800. This
represents a two per cent decrease from April 2024 and a 0.6 per cent decrease compared to
March 2025.
Attached home sales in April 2025 totalled 442, a 23.8 per cent decrease compared to the 580
sales in April 2024. The benchmark price of a townhouse is $1,102,300. This represents a 2.9
per cent decrease from April 2024 and a one per cent decrease compared to March 2025.