20 Apr 2025
REGBV Market Update for February 2025 – Bringing Balance to Metro Vancouver’s Housing Market
After an active start to 2025 fueled by strong seller enthusiasm in January, the February 2025 market report from the Greater Vancouver Realtors (GVR) highlights a return to more balanced conditions following a surge of new listings to start the year.
“After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions,” Andrew Lis, GVR’s director of economics and data analytics said. “With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre pandemic times.
Home Sales
Metro Vancouver recorded 1,827 residential property sales in February, marking an 11.7% decline from February’s 2,070 sales and a 28.9% decrease from the 10-year seasonal average of 2,571.
The number of detached properties sold reached 477, a 14.8% decrease from February 2024.
The number of apartments sold reached 976, a 10.6% decrease from February 2024.
The number of attached properties sold reached 359, a 10.9% decrease from February 2024.
Home Listings
A total of 5,075 detached, attached, and apartment properties were newly listed on the Multiple Listing Service (MLS) in Metro Vancouver. This reflected a 10.9% increase from the 4,560 listings in February 2024, and a 36.4% rise above the 10-year seasonal average
At the time of the report, there were 12,744 homes listed for sale on the MLS in Metro Vancouver. This represented a 32.3% increase from February 2024, and 36.4% above the 10-year seasonal average.
Sales-To-Active-Listings Ratio
This is a good indication of the supply and demand forces in the market. Downward pressure on home prices can occur when the ratio is below 12% for a sustained period, and there is upward pressure when the ratio is above 20% for a number of months.
For all property types, the ratio in February was 14.8%. When broken down by property types, the ratio was:
- 10.7% for detached homes
- 18.5% for attached homes
- 16.8% for apartments