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The slowdown in home sales registered on the Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver\u00a0that began early this year continued in April, with sales down nearly 24 per cent year-over-year.<\/p>\n
The Greater Vancouver REALTORS\u00ae (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).<\/p>\n
\u201cFrom a historical perspective, the slower sales we\u2019re now seeing stand out as unusual, particularly against a backdrop of significantly improved borrowing conditions, which typically helps to boost sales,\u201d said Andrew Lis, GVR\u2019s director of economics and data analytics. \u201cWhat\u2019s also unusual is starting the year with Canada\u2019s 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.\u201d<\/p>\n
There were 6,850 detached, attached and apartment properties newly listed for sale on the MLS\u00ae 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.<\/p>\n
The total number of properties currently listed for sale on the MLS\u00ae 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).<\/p>\n
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.<\/p>\n
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.<\/p>\n
\u201cWhile the headlines have been filled with worrying news lately, there are positives in the current market worth highlighting, especially for buyers,\u201d Lis said. \u201cInventory levels have just crested 16,000 for the first time since 2019, prices have stayed fairly stable for the past few months, and borrowing costs are the lowest they\u2019ve been in years. These factors benefit buyers, and with balanced conditions across the market overall, there\u2019s plenty of opportunity for anyone looking to make a purchase.\u201d<\/p>\n
The MLS\u00ae 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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n