VANCOUVER, BC – June 3, 2025
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,228 in May 2025, an 18.5 per cent decrease from the 2,733 sales recorded in May 2024. This
was 30.5 per cent below the 10-year seasonal average (3,206).
“While there are emerging signs that sales activity might be turning a corner, sales in May
were below the ten-year seasonal average, which suggests that some buyers are still sitting
on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of
economics and data analytics. “On a year-to-date basis, sales in 2025 rank among the
slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and
2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but
whether sales in 2025 might follow a similar pattern remains the million-dollar question.”
There were 6,620 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in May 2025. This represents a 3.9 per
cent increase compared to the 6,374 properties listed in May 2024. This was 9.3 per cent
above the 10-year seasonal average (6,055).
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 17,094, a 25.7 per cent increase compared to May 2024 (13,600). This is 45.9 per
cent above the 10-year seasonal average (11,718).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for May 2025 is 13.4 per cent. By property type, the ratio is 10.2 per cent for detached homes,
17.4 per cent for attached, and 14.7 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.
“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price
expectations, which has provided buyers more negotiating room and kept a firm lid on price
escalation over the past few months,” Lis said. “From a seasonal perspective, sales in the
summer months are typically quieter than the spring, but with such an unusually slow spring,
we may have an unusually busy summer with so many having delayed their purchasing
decisions. Either way, the market continues tilting in favour of buyers, which bodes well for
anyone looking to make a purchase this summer.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,177,100. This represents a 2.9 per cent decrease over May
2024 and a 0.6 per cent decrease compared to April 2025.
Sales of detached homes in May 2025 reached 654, a 22.7 per cent decrease from the 846
detached sales recorded in May 2024. The benchmark price for a detached home is
$1,997,400. This represents a 3.2 per cent decrease from May 2024 and a 1.2 per cent
decrease compared to April 2025.
Sales of apartment homes reached 1,087 in May 2025, an 18.8 per cent decrease compared to
the 1,338 sales in May 2024. The benchmark price of an apartment home is $757,300. This
represents a 2.4 per cent decrease from May 2024 and a 0.7 per cent decrease compared to
April 2025.
Attached home sales in May 2025 totalled 469, a 10.3 per cent decrease compared to the 523
sales in May 2024. The benchmark price of a townhouse is $1,106,800. This represents a 3.4
per cent decrease from May 2024 and a 0.4 per cent increase compared to April 2025.
May saw inventory levels across Metro Vancouver* reach another ten-year high, while home sales registered on the MLS® remained muted.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled
2,228 in May 2025, an 18.5 per cent decrease from the 2,733 sales recorded in May 2024. This
was 30.5 per cent below the 10-year seasonal average (3,206).
“While there are emerging signs that sales activity might be turning a corner, sales in May
were below the ten-year seasonal average, which suggests that some buyers are still sitting
on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of
economics and data analytics. “On a year-to-date basis, sales in 2025 rank among the
slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and
2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but
whether sales in 2025 might follow a similar pattern remains the million-dollar question.”
There were 6,620 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in May 2025. This represents a 3.9 per
cent increase compared to the 6,374 properties listed in May 2024. This was 9.3 per cent
above the 10-year seasonal average (6,055).
The total number of properties currently listed for sale on the MLS® system in Metro
Vancouver is 17,094, a 25.7 per cent increase compared to May 2024 (13,600). This is 45.9 per
cent above the 10-year seasonal average (11,718).
Across all detached, attached and apartment property types, the sales-to-active listings ratio
for May 2025 is 13.4 per cent. By property type, the ratio is 10.2 per cent for detached homes,
17.4 per cent for attached, and 14.7 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.
“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price
expectations, which has provided buyers more negotiating room and kept a firm lid on price
escalation over the past few months,” Lis said. “From a seasonal perspective, sales in the
summer months are typically quieter than the spring, but with such an unusually slow spring,
we may have an unusually busy summer with so many having delayed their purchasing
decisions. Either way, the market continues tilting in favour of buyers, which bodes well for
anyone looking to make a purchase this summer.”
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver is currently $1,177,100. This represents a 2.9 per cent decrease over May
2024 and a 0.6 per cent decrease compared to April 2025.
Sales of detached homes in May 2025 reached 654, a 22.7 per cent decrease from the 846
detached sales recorded in May 2024. The benchmark price for a detached home is
$1,997,400. This represents a 3.2 per cent decrease from May 2024 and a 1.2 per cent
decrease compared to April 2025.
Sales of apartment homes reached 1,087 in May 2025, an 18.8 per cent decrease compared to
the 1,338 sales in May 2024. The benchmark price of an apartment home is $757,300. This
represents a 2.4 per cent decrease from May 2024 and a 0.7 per cent decrease compared to
April 2025.
Attached home sales in May 2025 totalled 469, a 10.3 per cent decrease compared to the 523
sales in May 2024. The benchmark price of a townhouse is $1,106,800. This represents a 3.4
per cent decrease from May 2024 and a 0.4 per cent increase compared to April 2025.
Call Rick to help you sell in this changing market, no worries. 778- 389- 2164