Vancouver Real Estate Update: Home Sales Slow, But Opportunity Knocks for Buyers
If you’ve been watching the housing market in Metro Vancouver this spring and wondering, “What’s going on?” — you’re not alone. April 2025 brought another dip in home sales, continuing a trend we’ve been seeing since early this year.
According to the latest stats from Greater Vancouver Realtors (GVR), just 2,163 homes were sold across Metro Vancouver in April. That’s a 23.6% drop compared to April 2024, and nearly 28% below what’s considered “normal” for this time of year based on 10-year seasonal averages.
Despite slightly lower borrowing costs and more listings available, many buyers seem to be hitting pause — and economic uncertainty is likely the reason why.
What’s Keeping Buyers on the Sidelines?
Andrew Lis, GVR’s Director of Economics and Data Analytics, points to a few big-picture issues. “It’s unusual to see such slow activity to start the year,” he explains. “Add in political uncertainty, trade tensions with the U.S., and worries about the broader economy, and many people are choosing to wait and see.”
That hesitation is understandable. But for buyers who are ready, this environment may actually present some unique opportunities.
More Listings = More Choice
One bright spot? Inventory is rising. In fact, the number of homes available for sale in Metro Vancouver climbed to 16,207 in April — the highest we’ve seen since 2019, and a 30% increase compared to last year.
There were also 6,850 new listings in April. While that’s slightly down from the same month last year, it still represents a healthy supply of options for buyers.
Prices, meanwhile, have held fairly steady. The overall MLS® Home Price Index benchmark for all property types is sitting at $1,184,500 — down just 0.5% from March, and 1.8% lower than this time last year.
Let’s Break it Down by Housing Type:
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Detached Homes: 578 sales (↓29% year-over-year); benchmark price: $2,021,800 (↓0.7%)
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Townhomes: 442 sales (↓23.8% year-over-year); benchmark price: $1,102,300 (↓2.9%)
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Condos/Apartments: 1,130 sales (↓20.2% year-over-year); benchmark price: $762,800 (↓2.0%)
A Shift Toward a Buyer’s Market
The big takeaway? With listings going up and sales slowing down, we’re starting to see more favourable conditions for buyers — especially in the detached market.
The sales-to-active listings ratio (a key metric that tells us who has the upper hand) dropped to 13.8% overall in April:
Generally, anything below 12% is considered a buyer’s market, and anything over 20% suggests a seller’s market.
What Does This Mean if You’re Thinking About Buying?
If you’ve been saving up, pre-approved, or just starting to explore your options — now could be a great time to start your home search. With more listings to choose from, less competition, and stable prices, well-prepared buyers have room to breathe and time to make thoughtful decisions.
And while interest rates aren’t exactly “low,” they are the lowest they’ve been in a while, which helps take a bit of pressure off monthly payments.
Looking for Guidance?
Whether you're just starting to gather info or you're ready to get pre-approved and explore properties in Vancouver, Burnaby, the Island, or beyond — I’m here to help break it all down in a way that actually makes sense.
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Because no matter what the headlines say, it’s always about what’s right for you.