Real Estate Update: March 2025
Apr 02, 2025
“A market full of opportunity, but also hesitation”
The Greater Vancouver Realtors (GVR) reports that residential sales totalled 2,091 in March 2025, a 13.4% decrease from 2,415 sales from March 2024. (This is 36.8% below the 10-year seasonal average).
“If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years,” said Andrew Lis, GVR’s director of economics and data analytics.
Vancouver’s real estate marketing is facing a unique mix of conditions. Mortgage rates have dropped steadily since last April from 5% to current rates at 2.75% making borrowing more affordable than it’s been in years. Active listings on the MLS are their highest in nearly a decade giving buyers plenty of choices. Sellers appear ready to engage, but buyer activity has been slower than usual for this time of year.
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: Buyers Market at 11% Sales Ratio average (1.1 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 100% of list price
- Most Active Price Band: Homes between $400,000 – $500,000 with average 30% Sales Ratio (Sellers market)
- Opportunity for Buyers: Homes between $2.25mil to $2.5mil, Coal Harbour and 2 to 3 bedroom properties
- Opportunity for Sellers: Selling homes in Downtown, Westend, Yaletown and up to 1 bedroom properties
Vancouver Westside:
Detached Housing
- Market Type: Buyers Market at 8% Sales Ratio average (8 in 100 homes selling rate)
- Housing Prices: Homes are selling on average 4% below list price
- Most Active Price Band: Homes between $2.25 mil – $2.5 mil with average 29% Sales Ratio (Sellers market)
- Opportunity for Buyers: Homes between $5.5 mil to $6 mil, Shaughnessy and minimum 5 bedroom properties
- Opportunity for Sellers: Selling homes in Cambie, Kitsilano and 3 to 4 bedroom properties
Attached Housing
- Market Type: Balanced Market at 19% Sales Ratio average (1.9 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 1% below list price
- Most Active Price Band: Homes between $800,000 – $900,000 with average 32% sales ratio (Sellers market)
- Opportunity for Buyers: Homes between $2.5 mil – $3 mil, SW Marine, South Cambie, South Granville and 3 bedroom properties
- Opportunity for Sellers: Selling homes in Fairview, Quilchena, Shaughnessy and up to 1 bedroom properties
Vancouver Eastside:
Detached Housing
- Market Type: Balanced Market at 12% Sales Ratio average (1.2 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 2% below list price
- Most Active Price Band: Homes between $1.25 mil – $1.5 mil with average 27% Sales Ratio (Sellers Market)
- Opportunity for Buyers: Homes between $2.75 mil – $3 mil, Collingwood, Renfrew and minimum 7 bedroom properties
- Opportunity for Sellers: Selling homes in Hastings Sunrise, Mount Pleasant, Victoria and 3 to 4 bedroom properties
Attached Housing
- Market Type: Sellers Market at 20% Sales Ratio average (2 in 10 homes selling rate)
- Housing Prices: Homes are selling on average 1% below list price
- Most Active Price Band: Homes between $700,000 – $800,000 with average 26% Sales Ratio (Sellers Market)
- Opportunity for Buyers: Homes between $900,000 to $1 mil, South Vancouver and 2 bedroom properties
- Opportunity for Sellers: Selling homes in Champlain Heights, Fraser and minimum 4 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 April 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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