February Market Update 2025
Mar 04, 2025
“February Brings Balance to Metro Vancouver’s Housing Market”
The Greater Vancouver REALTORS® reports that residential sales in the region totalled 1,827 on Metro Vancouver’s MLS in February 2025, an 11.7% decrease from the 2,070 sales recorded in February 2024.
“After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions,” Andrew Lis, GVR’s director of economics and data analytics said. “With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times.”
“Balanced market conditions typically bring a flatter price trajectory, and we’ve seen prices across all segments remain in a holding pattern for the past few months,” Lis said. “But with the active spring season just around the corner, it will be interesting to see whether buyers take advantage of some of the most favourable market conditions seen in years, and whether sellers change their willingness to bring their properties to market.”
Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2025 is 14.8%. By property type, the ratio is 10.7% for detached homes, 18.5% for attached, and 16.8% for apartments.
We understand that market statistics can sometimes feel too general, leaving you wondering, “How does this apply to my home?” 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: Buyers Market at 11% Sales Ratio average (1.1 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 1% below list price
- Most Active Price Band: Homes between $400,000 – $500,000 with average 20% Sales Ratio (Sellers market)
- Opportunity for Buyers: Homes between $2.75mil to $3mil, Coal Harbour, Downtown and 3 bedroom properties
- Opportunity for Sellers: Selling homes in West End, Yaletown and up to 1 bedroom properties
Vancouver Westside:
Detached Housing
- Market Type: Buyers Market at 6% Sales Ratio average (6 in 100 homes selling rate)
- Housing Prices: Homes are selling on average 6% below list price
- Most Active Price Band: Homes between $2.5 mil – $2.75 mil with average 20% Sales Ratio (Balanced market)
- Opportunity for Buyers: Homes minimum $6.5 mil to $7 mil, Cambie, Shaughnessy, South Granville and minimum 7 bedroom properties
- Opportunity for Sellers: Selling homes in Mackenzie Heights and 3 to 4 bedroom properties
Attached Housing
- Market Type: Balanced Market at 16% Sales Ratio average (1.6 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 3% below list price
- Most Active Price Band: Homes between $500,000 – $600,000 with average 29% sales ratio (Sellers market)
- Opportunity for Buyers: Homes between $2.25 mil – $2.5 mil, Kerrisdale, South Granville and minimum 3 bedrooms
- Opportunity for Sellers: Selling homes in Mount Pleasant, Quilchena and up to 2 bedroom properties
Vancouver Eastside:
Detached Housing
- Market Type: Balanced Market at 11% Sales Ratio average (1.1 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 4% below list price
- Most Active Price Band: Homes between $1.25 mil – $1.5 mil with average 33% Sales Ratio (Sellers Market)
- Opportunity for Buyers: Homes between $2.75 mil – $3 mil, Collingwood, Fraserview, Knight, Renfrew, Victoria and minimum 7 bedrooms
- Opportunity for Sellers: Selling homes in Killarney, Main and up to 2 bedrooms
Attached Housing
- Market Type: Sellers Market at 21% Sales Ratio average (2.1 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 2% below list price
- Most Active Price Band: Homes between $900,000 – $1 mil with average 37% Sales Ratio (Sellers Market)
- Opportunity for Buyers: Homes between $1.5 mil to $1.75 mil, Main and minimum 4 bedroom properties
- Opportunity for Sellers: Selling homes in Champlain Heights, Hastings, Knight, Renfrew and up to 3 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 March 2, 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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