January 2025 | Metro Vancouver Real Estate Market Update

Posted on Feb 13, 2025

The Metro Vancouver real estate market kicked off 2025 with a surge in new listings, as sellers eagerly entered the market. According to the latest report from the Greater Vancouver REALTORS® (GVR), new listings on the MLS® saw a significant year-over-year increase, while sales activity remained steady.


Key Market Highlights

  • New Listings: 5,566 properties were newly listed in January 2025, a 46.9% increase compared to January 2024 (3,788 listings). This was 31.1% above the 10-year seasonal average.
  • Total Inventory: 11,494 active listings were recorded, up 33.1% year-over-year and 33.2% above the 10-year seasonal average.
  • Sales: Residential sales reached 1,552, an 8.8% increase from January 2024 (1,427 sales) but 11.3% below the 10-year seasonal average (1,749 sales).
  • Sales-to-Active Listings Ratio: 14.1% across all property types, indicating balanced market conditions.
    • Detached: 9.2%
    • Attached: 18.5%
    • Apartments: 16.5%
       

      Market Insights

      Andrew Lis, GVR’s Director of Economics and Data Analytics, noted:
“In the three months preceding January, we’ve seen buyer demand gain momentum, but now we’re seeing a shift toward sellers entering the market. Even with this increase in new listings, sales continue to outpace last year’s figures, indicating some sustained buyer activity.”

Detached Homes: Slower Sales, Stable Prices

  • Active Listings: 4,109
  • Sales: 380
  • Benchmark Price: $2,005,400 
  • Average Days on Market: 64

    • The detached home market remained competitive, with a steady flow of sales and prices holding firm. While the average days on the market suggest buyers took more time to make decisions, demand for detached homes continues to persist.

Attached Homes: Steady Demand and Price Stability

  • Active Listings: 1,739
  • Sales: 321 
  • Benchmark Price: $1,105,600
  • Average Days on Market: 44

    • Attached homes, including townhouses and duplexes, showed strong performance with prices remaining relatively stable. The quicker turnover compared to detached homes signals solid demand in this segment.

Apartments: High Sales but Price Softening

  • Active Listings: 5,134
  • Sales: 846 
  • Benchmark Price: $748,100 
  • Average Days on Market: 45

    • The apartment segment led the market in January with the highest number of sales. Despite a slight decrease in benchmark prices, apartments remain a popular choice, particularly among first-time buyers and investors.


For more detailed data, visit the official Real Estate Board of Greater Vancouver MLS® Home Price Index.

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Outlook for 2025

The market remains balanced to start the year, with rising inventory helping to stabilize prices. While GVR anticipates moderate price growth throughout 2025, potential economic factors, such as U.S. tariffs on Canadian goods, could influence market conditions in the months ahead.

Explore the Market with Confidence

Are you ready to make your move in Metro Vancouver? Whether you’re buying your first home, upgrading, or selling, the Kyle Lamb Real Estate Group is here to guide you. With our expertise in the Tri-Cities and Fraser Valley, we deliver authentic, trustworthy, and proven results.

Contact us today to discuss your real estate goals for 2025!

Additional Resources for Buyers and Sellers

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