Wondering what’s happening in the Vancouver housing market this spring? In short: inventory is up, but buyers are hesitating. After years of tight supply, we’re finally seeing a surge in listings—yet sales remain slower than usual.
Here’s a clear breakdown of what’s going on.
Sales Are Slowing
March followed a trend we’ve seen building since late 2024. February 2025 was the second slowest February for home sales since 2015. Sales were down 17% compared to the same time last year and approximately 35% below the 10-year average.
Inventory Is Growing
After long periods of inventory shortages, we’re now seeing more supply across all property types:
- New listings were up 13% compared to the 10-year average
- Condo listings rose 15% year-over-year
- Townhome listings increased by 13%
- Detached home listings were up 3%
- Overall inventory levels climbed 42% compared to March 2024
This means buyers now have significantly more selection than they’ve had in years.
Prices Are Adjusting
Median home prices have softened slightly on a year-over-year basis:
- Overall median home price declined 3% compared to last year
- From last month:
- Condo prices fell 2%
- Townhome prices dropped 3%
- Detached home prices inched up slightly by 0.5%
While prices are easing in most segments, not all product types are seeing the same movement.
What This Means for Buyers and Sellers
For Sellers: You’ll need to price competitively and ensure your marketing is professional and compelling. With more listings on the market, buyers have options—homes that are overpriced or poorly presented are likely to sit.
For Buyers: This is a strategic moment. With increased inventory and softening prices, there’s potential for strong value and negotiation power. That said, high-quality, well-priced homes in desirable areas can still attract multiple offers, so it’s important to stay informed and ready.
Let’s Talk About Your Next Move
Whether you’re buying your first home, upgrading, or selling an investment property, navigating a changing market takes the right strategy and insight. If you’re thinking about entering the market—or just want expert guidance on what this means for you—feel free to reach out anytime.