Vancouver Real Estate Market Summary – May 2025
The Vancouver real estate market in May 2025 is characterized by a notable shift towards a buyer’s
market. This transition is driven by a combination of declining home prices, increased inventory, and subdued sales activity.
Market Overview
- Benchmark Home Price: $1,184,500
- Down 1.8% year-over-year
- Down 0.5% month-over-month
- Average Home Price: $1,211,073
- Down 7.4% year-over-year
- Down 2.3% month-over-month
- Sales-to-New-Listings Ratio (SNLR): 32%
- Indicates a buyer’s market (SNLR below 40%)
- Active Listings: 16,207
- Up 38% compared to April 2024
- Total Sales: 2,163 homes sold in April 2025
- Includes 578 detached homes, 1,130 apartments, and 442 attached homes
The surge in active listings, reaching the highest level for any April in the past decade, provides buyers with more options and negotiating power. However, the increased supply
has also contributed to downward pressure on prices.
Property Type Breakdown
- Detached Homes:
- Average Price: $2,002,033
- Down 8.2% year-over-year
- Down 6.5% month-over-month
- Benchmark Price: $2,021,800
- Down 0.7% year-over-year
- Down 0.6% month-over-month
- Attached Homes:
- Average Price: $1,217,671
- Down 4.2% year-over-year
- Down 1.0% month-over-month
- Benchmark Price: $1,102,300
- Down 2.9% year-over-year
- Down 1.0% month-over-month
- Apartments:
- Average Price: $804,951
- Down 0.7% year-over-year
- Down 0.1% month-over-month
- Benchmark Price: $762,800
- Down 2.1% year-over-year
- Down 0.6% month-over-month
Outlook
The Vancouver market is experiencing a cooling trend, with increased inventory and declining prices suggesting a continued buyer’s market in the near term. Economic factors,
including potential U.S. tariffs and global trade uncertainties, may further influence market dynamics. Buyers are advised to take advantage of the current conditions, while sellers may need to adjust pricing expectations to align with the market.
Given the current market conditions, buyers have significant leverage. With increased inventory and declining prices, it’s an opportune time for buyers to negotiate favorable deals.