Metro Vancouver Market Update: Sellers Jump In As 2025 Begins
New MLS® listings surged 46% year-over-year in January as sellers eagerly entered the Metro Vancouver market. Meanwhile, residential sales hit 1,552 units, up 8.8% from January 2024 but still 11.3% below the 10-year average. "We've seen buyer demand gaining momentum in recent months, but that energy is now shifting toward sellers," notes Andrew Lis, GVR's economics director. "Despite increased listings, sales continue outpacing last year, showing buyer appetite remains following 2024's strong finish." January saw 5,566 new property listings, a dramatic 46.9% increase over January 2024 and 31.1% above the 10-year average. Total active listings reached 11,494, up 33.1% year-over-year and 33.2% above the seasonal average. The January sales-to-active listings ratio sits at 14.1% market-wide, with detached homes at 9.2%, attached properties at 18.5%, and apartments at 16.5%. Historically, sustained ratios below 12% create downward price pressure, while ratios above 20% drive prices up. "With listings outpacing demand, January prices remained stable across all segments, keeping the market balanced," Lis explained. "Our 2025 forecast anticipates moderate price growth, though potential US tariffs could impact these projections depending on their implementation and Canada's response." The benchmark price for all Metro Vancouver residential properties stands at $1,173,000, up 0.5% year-over-year and 0.1% month-over-month. Detached homes reached $2,005,400 (+3.1% YOY), apartments $748,100 (-1.7% YOY), and townhouses $1,105,600 (+2.7% YOY).