Newly listed Metro Vancouver homes on the MLS® rose 46% year-over-year in January. Sellers appear to be eager to enter the market to start the year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8% increase from the 1,427 sales recorded in January 2024, which was 11.3% below the 10-year seasonal average of 1,749. 

Andrew Lis, GVR’s director of economics and data analytics, states, “In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the New Year. … Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.” 

There were 5,566 detached, attached, and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2025. This represents a 46.9% increase compared to the 3,788 properties listed in January 2024, which is 31.1% above the 10-year seasonal average  of 4,247. 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1% increase compared to January 2024’s total of 8,633, which is 33.2 per cent above the 10-year seasonal average  of 8,632. 

The sales-to-active listings ratio for January 2025 are 9.2% for detached homes, 18.5% for attached, and 16.5%t for apartments. Across all detached, attached and apartment property types, the ratio is 14.1%.

Analysis of the historical data suggests home prices often experience upward pressure when it surpasses 20% over several months while downward pressure on home prices occurs when the ratio dips below 12% for a sustained period. 

“With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions,” states Lis. “Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead, if any.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,000. This is a 0.5% increase over January 2024 and a 0.1% increase compared to December 2024. 

Sales of detached homes in January 2025 reached 380, a 0.3% increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400, which is a 3.1% increase from January 2024 and a 0.4% increase compared to December 2024. 

Sales of apartment homes reached 846 in January 2025, a 13.4% increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100, which is a 1.7% decrease from January 2024 and a 0.2% decrease compared to December 2024. 

Attached home sales in January 2025 totalled 321, a 12.6% increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600, which is a 2.7% increase from January 2024 and a 0.8% decrease compared to December 2024.

Download the complete stats package