February Brings Balance To Vancouver Market

The Vancouver real estate market settled into more balanced territory in February 2025 as the rush of new listings seen in January gave way to more moderate activity. With sales and new listings now closer to historical averages, the market remains steady, offering both buyers and sellers a more predictable environment heading into the spring season.

Property sales in Vancouver totalled 1,827 in February 2025, marking an 11.7% decrease from the 2,070 sales recorded in February 2024. While sales remain 28.9% below the 10-year seasonal average, this drop reflects a return to more typical market conditions after January’s surge in listing activity.

New listings remained elevated, with 5,057 detached, attached, and apartment properties coming to market—a 10.9% increase from February 2024 and 11.6% above the 10-year seasonal average. Total active inventory also climbed, reaching 12,744 homes, a 32.3% increase from the same time last year and 36.4% above the 10-year seasonal average.

With market conditions holding firm, prices across all segments remained relatively stable. The composite benchmark price for all residential properties in Metro Vancouver settled at $1,169,100—down 1.1% year-over-year and a modest 0.3% decline from January 2025.

• Sales of detached homes reached 477 in February 2025, a 14.8% decrease from the 560 sales in February 2024. The benchmark price for a detached home rose slightly to $2,006,100, up 1.8% year-over-year and virtually unchanged from January 2025.

• Attached home sales reached 359 in February, down 10.9% year-over-year. The benchmark price for an attached home settled at $1,087,100, reflecting a 1.2% decline year-over-year and a 1.7% decrease from January 2025.

• Apartment sales totalled 976 in February, a 10.6% decrease from February 2024. The benchmark price for an apartment dipped to $747,500, representing a 2.8% decrease year-over-year and a marginal 0.1% decline from January 2025.

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““Balanced market conditions typically bring a flatter price trajectory, and we’ve seen prices across all segments remain in a holding pattern for the past few months,” Lis said. “But with the active spring season just around the corner, it will be interesting to see whether buyers take advantage of some of the most favorable market conditions seen in years, and whether sellers change their willingness to bring their properties to market.””

— Andrew Lis | REBGV Director, Economics and Data Analytics

What's On The Horizon For Vancouver's Spring Market?

With balanced market conditions taking hold and the spring season approaching, the question is whether buyers and sellers will capitalize on the current stability. Andrew Lis noted that while price growth has been relatively flat in recent months, the possibility of a Bank of Canada rate cut could provide a boost to demand as borrowing costs ease.
 

For now, buyers continue to benefit from increased inventory and more options, while sellers may need to adjust pricing strategies to remain competitive. If you're considering selling, reach out for a complimentary home equity health check to understand the trends in your neighbourhood and how much your home is worth in today’s market.

If you're considering selling, reach out for a complimentary home equity health check, and take the first step to understand how much your home is really worth today.