April 2025 Real Estate Market Update
May 08, 2025
“Spring market brings abundance of opportunity for buyers”
The slowdown in home sales registered on the MLS in Metro Vancouver that began early this year continued in April, with sales down nearly 24% year-over-year.
“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. 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.” Andrew Lis, GVR director of economics and data analytics
With inventory at its highest levels since 2014, stable prices, and the lowest borrowing costs in years, today’s balanced market presents strong opportunities for buyers. Despite the negative headlines, there are meaningful positives worth highlighting- especially for those looking to purchase.
We understand that market statistics can sometimes feel too general, leaving you wondering, “How does this apply to me?” To address this, we’ve detailed the sales activity in Downtown Vancouver, East Van, and the Westside. Our goal is to help you gain a clearer understanding of the real estate trends directly affecting your neighbourhood.
Downtown Vancouver:
- Market Type: Balanced Market at 14% Sales Ratio average (1.4 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 3% below list price
- Most Active Price Band: Homes between $300,000 – $400,000 / $500,000 – $600,000 / $1.25 mil – $1.5 mil with average 19% Sales Ratio (Balanced market)
- Opportunity for Buyers: Homes between $3mil to $3.5mil, Coal Harbour, Downtown and minimum 3 bedroom properties
- Opportunity for Sellers: Selling homes in West End, Yaletown and 2 bedroom properties
Vancouver Westside:
Detached Housing
- Market Type: Buyers Market at 7% Sales Ratio average (7 in 100 homes selling rate)
- Housing Prices: Homes are selling on average 3% below list price
- Most Active Price Band: Homes between $2.5 mil – $2.75 mil with average 35% Sales Ratio (Sellers market)
- Opportunity for Buyers: Homes minimum $7.5 mil Quilchena, Shaughnessy, Southlands, University and minimum 7 bedroom properties
- Opportunity for Sellers: Selling homes Kitsilano, Mackenzie Heights, SW Marine and up to 2 bedroom properties
Attached Housing
- Market Type: Balanced Market at 17% Sales Ratio average (1.7 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 3% below list price
- Most Active Price Band: Homes between $600,000 – $700,000 with average 36% sales ratio (Sellers market)
- Opportunity for Buyers: Homes between $1.75 mil – $2 mil, Cambie, Oakridge, Shaughnessy, South Cambie and South Granville
- Opportunity for Sellers: Selling homes in Fairview, Kitsilano, Mount Pleasant, Quilchena and up to 1 bedroom properties
Vancouver Eastside:
Detached Housing
- Market Type: Buyers Market at 10% Sales Ratio average (1 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 4% below list price
- Most Active Price Band: Homes between $1.5 mil – $1.75 mil with average 22% Sales Ratio (Sellers Market)
- Opportunity for Buyers: Homes between $2.75 mil – $4 mil, Collingwood, Fraser, Hastings, Renfrew Heights and South Vancouver
- Opportunity for Sellers: Selling homes in Victoria and 3 to 4 bedroom properties
Attached Housing
- Market Type: Balanced Market at 18% Sales Ratio average (1.8 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 1% below list price
- Most Active Price Band: Homes between $300,000 – $400,000 with average 44% Sales Ratio (Sellers Market)
- Opportunity for Buyers: Homes between $1 mil to $1.75 mil, Grandview Woodland, South Marine, South Vancouver and 3 bedrooms
- Opportunity for Sellers: Selling homes in Hastings, Main Renfrew and up to 1 bedroom properties
Get in touch with us today to better understand your unique situation and get honest advice on how your home fits within the overall picture. It’s important to ensure you’re getting the right advice with your best interests at heart.
Let’s chat over a complimentary coffee and see how we can help with any questions you may have!
This report data was captured on May 1, 2025 from the Real Estate Board of Greater Vancouver MLS®. Refer to our YTD reports for sustained periods of the Sales Ratio %. The accuracy and completeness of the information is not guaranteed. In providing this information SnapStats® or Resident Experts do not assume any responsibility or liability.
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