VANCOUVER, BC – May 2, 2025 – The cooler trend in Metro Vancouver’s housing market continued through April, as home sales remained well below typical seasonal levels. Despite improved borrowing conditions, many buyers are still taking a wait-and-see approach.

According to the Greater Vancouver REALTORS® (GVR), residential home sales totalled 2,163 in April 2025, marking a 23.6% decline from the 2,831 sales recorded in April 2024. Sales also fell 28.2% below the 10-year seasonal average of 3,014.

“From a historical standpoint, the slower pace of sales is notable, especially considering borrowing costs have eased—typically a catalyst for increased activity,” said Andrew Lis, GVR’s director of economics and data analytics. “But 2025 has started on uncertain footing, with economic headwinds from U.S. trade policy and an upcoming federal election here at home. These factors appear to be giving some buyers reason to pause.”

In April 2025, there were 6,850 new listings for detached, attached, and apartment properties across Metro Vancouver—a 3.4% decline compared to April 2024. Still, new listings were 19.5% higher than the 10-year average for the month.

The total number of active listings reached 16,207, a 29.7% increase year-over-year, and 47.6% higher than the 10-year seasonal average. This surge in inventory is shifting the market more in favour of buyers.

The sales-to-active listings ratio across all property types in April was 13.8%, indicating balanced market conditions. By property type:

• Detached homes: 9.9%

• Attached homes (townhomes): 17.5%

• Apartments: 15.7%

Historical data suggests that downward pressure on prices tends to occur when the ratio stays below 12%, while sustained ratios above 20% often lead to price increases.

“Despite recent headlines, there are real positives for buyers,” Lis added. “Inventory is at its highest level since 2014, borrowing costs are down, and prices have remained relatively steady. All of this points to increased opportunity for those looking to purchase.”

Home Prices and Sales Snapshot – April 2025

• Composite Benchmark Price (All Residential): $1,184,500

  • ↓ 1.8% from April 2024

  • ↓ 0.5% from March 2025

• Detached Homes:

  • Sales: 578 (↓ 29% Year over Year)

  • Benchmark Price: $2,021,800 (↓ 0.7% Year over Year | ↓ 0.6% Month over Month)

• Apartments:

  • Sales: 1,130 (↓ 20.2% Year over Year)

  • Benchmark Price: $762,800 (↓ 2.0% Year over Year | ↓ 0.6% Month over Month)

• Attached Homes (Townhomes):

  • Sales: 442 (↓ 23.8% Year over Year)

  • Benchmark Price: $1,102,300 (↓ 2.9% Year over Year | ↓ 1.0% Month over Month)

Click here for the GVR April 2025 MLS Housing Market Report