In February 2025, new listings on the MLS® in Metro Vancouver rose more moderately compared to January, helping to keep market conditions balanced. Residential sales totaled 1,827, an 11.7% decline from February 2024 and 28.9% below the 10-year seasonal average.
Despite a surge in January listings, February's sales and new listings were closer to historical norms. GVR's Andrew Lis noted that with a potential Bank of Canada rate cut in March, homebuyers may benefit from more favorable borrowing conditions and an expanded selection of homes.
In February, 5,057 properties were listed for sale, up 10.9% from last year and 11.6% above the 10-year average. The total number of active listings was 12,744, a 32.3% increase from February 2024. The sales-to-active listings ratio was 14.8% overall, with detached homes at 10.7%, attached at 18.5%, and apartments at 16.8%.
The MLS® Home Price Index benchmark for all residential properties is $1,185,100, a 0.3% increase from February 2024. Detached home sales dropped 14.8% year-over-year, but the benchmark price increased by 2.8% to $2,026,500. Apartment sales fell 10.6%, with a 1.2% decrease in the benchmark price to $759,600. Attached home sales declined 10.9%, while the benchmark price rose 1% to $1,111,100.