March is typically one of the busier months in the Vancouver real estate calendar, but this year told a different story.

According to the latest data from the Greater Vancouver REALTORS® (GVR), home sales in March 2025 dropped to their lowest level for the month since 2019, while active listings continued to trend 📈 — presenting a golden opportunity for buyers, but few are taking advantage of it.

📉 Sales Slump Despite Buyer-Friendly Conditions

A total of 2,091 homes were sold in Metro Vancouver in March 2025 — down 13.4% from the 2,415 sales in March 2024, and a significant 36.8% below the 10-year seasonal average of 3,308.

“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.

With lower mortgage rates 💸, more inventory 🏘️, and stabilized prices 📊, this market is ideal for buyers — yet the activity isn’t showing it.

🏠 Listings on the Rise

Sellers, on the other hand, are showing confidence.

There were 6,455 new listings in March — a 29% increase from March 2024 and 15.8% above the 10-year average.

The total active listings reached 14,546, up 37.9% year-over-year and 44.9% higher than the 10-year seasonal norm. This rise in inventory offers more selection and negotiating power for buyers 🙌.

⚖️ Sales-to-Active Listings Ratio

The sales-to-active listings ratio for March 2025 was:

• Overall: 14.9%

• Detached homes: 10.3% 🏡

• Attached homes: 21.5% 🏘️

• Apartments: 16.2% 🏢

A ratio below 12% typically puts downward pressure on prices 📉, while a sustained ratio above 20% pushes them up 📈. At current levels, the market remains balanced, though townhomes are flirting with sellers’ market territory, largely due to a chronic lack of supply.

📊 Price Trends Hold Steady

The benchmark price for all residential properties in Metro Vancouver is now $1,190,900, showing:

• 0.6% decrease from March 2024

• 0.5% increase from February 2025

💰 Breakdown by Property Type:

• 🏡 Detached Homes

  • Sales: 527 (↓ 24.1% YoY)

  • Benchmark Price: $2,034,400

  • Price Change: ↑ 0.8% YoY, ↑ 0.4% MoM

• 🏢 Apartments

  • Sales: 1,084 (↓ 10.2% YoY)

  • Benchmark Price: $767,300

  • Price Change: ↓ 0.9% YoY, ↑ 1.0% MoM

• 🏘️ Townhomes (Attached)

  • Sales: 472 (↓ 4.6% YoY)

  • Benchmark Price: $1,113,100

  • Price Change: ↓ 0.8% YoY, ↑ 0.2% MoM

🔍 Final Thoughts

While buyer activity has slowed, conditions are undeniably tilting in favour of buyers. Increased inventory, stable pricing, and low mortgage rates provide a rare window of opportunity. However, broader economic uncertainty — including global political developments — may be holding back buyer confidence 🤔.

As we head into the spring and summer markets 🌷☀️, it will be interesting to see if this lagging buyer activity shifts — especially with more homes to choose from than we’ve seen in almost a decade.

Thinking of buying or selling in Vancouver? Let’s chat! 💬

📲 Reach out anytime — I’m here to help you navigate this unique market.

Solomon Yasin Personal Real Estate Corporation | Search BC Real Estate Team 778-655-7999  https://www.searchbcrealestate.com/