March 2025 Greater Vancouver Housing Market Summary

Buyer’s Market — But Where Are the Buyers?

March 2025 saw the lowest home sales for the month since 2019, with just 2,091 transactions, down 13.4% from March 2024 and 36.8% below the 10-year seasonal average.

Meanwhile, active listings surged to 14,546, up 37.9% year-over-year and 45% above the 10-year average, giving buyers more options than they’ve had in years. However, buyer activity remains muted despite improved affordability and low mortgage rates.

New listings hit 6,455, up 29% from last year and well above the 10-year average.

Sales-to-active listings ratio sits at 14.9% overall, indicating a balanced market.

• Detached: 10.3% (buyer's market)
• Townhouses: 21.5% (approaching seller's market)
• Apartments: 16.2% (balanced)

Benchmark Prices (Year over Year | Month over Month):

• Overall: $1,190,900 (▼ 0.6% YoY | ▲ 0.5% MoM)
• Detached: $2,034,400 (▲ 0.8% YoY | ▲ 0.4% MoM)
• Townhomes: $1,113,100 (▼ 0.8% YoY | ▲ 0.2% MoM)
• Apartments: $767,300 (▼ 0.9% YoY | ▲ 1% MoM)

Bottom Line:

Inventory is high and prices are stable, but buyer hesitation is holding the market back. Conditions are favourable for buyers — if they decide to step in.