Metro Vancouver Residential Market Report April 2025
Metro Vancouver Real Estate Cooling Down
Image Source- GVR Realtors
The real estate market in Metro Vancouver is hitting the brakes. Home sales dropped almost 24% in April compared to last year, continuing a slowdown that began earlier this year.
According to the Greater Vancouver REALTORS® (GVR) reports, only 2,163 homes sold last month – that’s nearly 30% below what we’d normally expect for this time of year. While new listings are down slightly from last year (about 3%), the total number of homes sitting on the market has jumped by almost 30%.
This imbalance between buyers and sellers has shifted the market dynamics. For every 100 homes available, only about 14 are selling. When this ratio falls below 12%, prices typically start dropping. Right now, detached houses are feeling the most pressure with just under 10% selling. Real estate experts watch these numbers closely. The current trend suggests we’re heading toward a buyer’s market, after several years that strongly favored sellers.
Image Source- GVR Realtors
The real estate market in Metro Vancouver is hitting the brakes. Home sales dropped almost 24% in April compared to last year, continuing a slowdown that began earlier this year.
Only 2,163 homes sold last month – that’s nearly 30% below what we’d normally expect for this time of year. While new listings are down slightly from last year (about 3%), the total number of homes sitting on the market has jumped by almost 30%.
This imbalance between buyers and sellers has shifted the market dynamics. For every 100 homes available, only about 14 are selling. When this ratio falls below 12%, prices typically start dropping. Right now, detached houses are feeling the most pressure with just under 10% selling.
Real estate experts watch these numbers closely. The current trend suggests we’re heading toward a buyer’s market, after several years that strongly favored sellers.
