Metro Vancouver Real Estate Market Insights: Stats Centre Reports

Metro Vancouver Real Estate Market Insights: Your Comprehensive Real Estate Update with Jersey Li ☀️

Stats Centre Reports - May 2025

It's always sunny with me ☀️ This is your REALTOR®, Jersey Li 😄!

We Called It — Prices Have Dropped. Now It’s Time to Act.

“Yes, prices are dropping. Now what?” Here are your Metro Vancouver Real Estate Market Insights for May 2025.

If you’ve been following my monthly reports, you’ll know I’ve been calling this for months—a market correction was coming, and the April 2025 stats have now confirmed it.

Across Metro Vancouver, home prices are softening, sales volume is shrinking, and inventory is surging to levels not seen since 2019. It’s clear: we’ve entered a full-on buyer’s market.

This means the pricing strategy is more important than ever for sellers. For buyers, it’s the season of opportunity. Whether you’re looking for your first home or trying to time the market as an investor, this is the moment to pay attention.

Let’s dive into what happened in April, what’s coming in Q2, and what it all means for your next move.

Jersey’s Market Prediction

📉 April 2025 Recap: The Correction Has Arrived

As predicted in past reports, the Vancouver real estate market has begun to correct, with prices across all major property types trending downward. Inventory is climbing, buyer confidence is wavering, and market uncertainty continues to weigh heavily on transaction activity.

Here’s what the data is showing us:

Sales are down 23.6% compared to April 2024
Listings are up nearly 30% year-over-year
Benchmark prices are down across the board, confirming the start of a mild correction

So, what’s causing this shift?

Economic Anxiety: Trade policy threats from the U.S. and a looming federal election have left consumers feeling cautious
Buyer Hesitation: Even with improved borrowing conditions, many are still waiting for clarity
Sellers Holding On: Most sellers are reluctant to price aggressively—only a few are adjusting early to meet the market

🧠 Jersey’s Advice for Sellers: Lead or Be Left Behind

Sell Now. Don’t wait.

This is no longer a “hold and hope” market.

If you need to sell in 2025, the smartest move is to adjust pricing proactively. Sellers who drop their price strategically now are the ones who get deals done — the rest risk chasing the market downward in the months ahead.

Why Sell Now?

Inventory is up 29.7% YoY — more competition is flooding the market
Buyers are active, but only for properties priced realistically
Detached homes are seeing sales-to-listings ratios under 10%, putting them firmly in buyer’s market territory

⚠️ Waiting too long could mean listing your home at a higher price, only to slash it weeks later while watching others sell first.

🔍 Jersey’s Advice for Buyers: Explore Aggressively. Bargain Hard.

Welcome to a true buyer’s market.

With supply at a 5-year high and prices beginning to ease, savvy buyers have the upper hand. You now have time, choice, and leverage — and you should use all three.

Why Buy Now?

Benchmark prices declined from both March and April 2024
You can negotiate harder, especially with motivated sellers
Interest rates remain low, improving your borrowing power
The sales-to-active listings ratio is trending downward, signalling continued price softness

🏡 Buyer Tip: Don’t rush, but don’t sleep on great properties either. When the right home comes along, move quickly — and make an offer that reflects today’s conditions.

Sales Stats: April 2025 Market Stats

April 2025 confirmed what we’ve been forecasting — the Vancouver real estate market is entering a full correction phase. Home sales are down, inventory is up, and prices are beginning to slip across every property type.

There were 2,163 homes sold across Metro Vancouver in April, a 23.6% drop compared to April 2024, and a striking 28.2% below the 10-year seasonal average. These are not just soft numbers — they’re a clear signal that many buyers are hesitating, even as borrowing conditions improve.

On the listing side, 6,850 new properties hit the market in April. That’s a 3.4% decrease from the same time last year, but still 19.5% higher than the 10-year average. Sellers are trickling in, but inventory is stacking up. In total, there were 16,207 active listings on the MLS® by the end of April — a 29.7% year-over-year increase and a massive 47.6% above the seasonal average. This is the highest level of active inventory we’ve seen since 2019.

When we look at the sales-to-active listings ratio, we get even more clarity. The market-wide ratio sits at 13.8%, but when broken down by property type, detached homes are at 9.9%, townhomes at 17.5%, and apartments at 15.7%. A ratio under 12% indicates downward pressure on prices, and detached homes have clearly fallen into full buyer’s market territory. Townhomes and condos are currently balanced, but leaning toward favouring buyers.

Benchmark prices have started to reflect this shift:

Detached homes are now benchmarked at $2,021,800, down 0.7% from last year and 0.6% from March.
Townhouses dropped to $1,102,300, a 2.9% annual decline and a 1% monthly dip.
Apartments now sit at $762,800, down 2% year-over-year and 0.6% from the previous month.

In short, prices are not crashing — but they are declining steadily, and the trends suggest further softening is likely as we move through Q2. For buyers, this means more choice and more negotiating power. For sellers, especially those with detached homes, it’s a wake-up call to price competitively or risk being left behind in an increasingly crowded market.

📉 Anything below 12% suggests downward pressure on prices—and we’re already there in key segments. The full report is here.

Rental Market Trends

Even as resale activity slows, the rental market in Metro Vancouver remains robust—especially for well-located, newer apartments. According to the latest report:

Burnaby had the highest average rent for unfurnished 1-bedroom at $2,545/month
Vancouver followed closely at $2,532/month
North Shore and New West offered slightly more affordable options under $2,400

What Renters and Investors Should Know:

Rent prices are stable but not surging, thanks to increased supply from unsold presale completions
Renters now have more negotiating power, particularly in suburban markets
Investors looking to buy should leverage soft resale prices + strong rent demand to lock in new cash-flow properties

📍 Investor Tip: Focus on areas with new rental supply but steady tenant demand — think Burquitlam, Surrey Central, and Richmond.

For a detailed breakdown of rental trends, the full report can be found here .

🔑 Final Takeaways: Your Strategy for Spring 2025

While headlines may seem bleak, the current conditions are exactly what a healthy reset looks like.

📌 Buyers have room to negotiate

📌 Sellers are adjusting expectations

📌 The market is finding its balance

Once the federal election passes and the interest rate path stabilizes, we’ll likely see more confidence — but the best opportunities always come during uncertainty.

✔️ Sellers: Price to win — not to compete. Waiting too long could cost you thousands.

✔️ Buyers: Take your time, but don’t miss your shot. There are deals right now.

✔️ Investors: Rent is strong. Buy the right unit, in the right place, at the right price — and hold.

✔️ Everyone: Don’t navigate this market alone. Get a strategic, experienced agent in your corner.