March 2025 Real Estate Market Report

Only Thing Missing From Vancouver Market "Made For Buyers" Is... Buyers: Greater Vancouver Realtors

Sellers are ready, but buyers? Not so much. Blame the trade war jitters and US admin uncertainty keeping homebuyers cautious. Still, it's like early 2025 — slow start, big finish could always be a possibility, i mean take a look at 2023!

Highlights from key areas

City of Vancouver

• Detached home sales in Vancouver Westside increased by 50% month-over-month! February saw 35 sales, while March had 52.

  
  

  • Houses priced between $3 million – $3.5 million have a 24% sales ratio, indicating that this segment of the detached market is in seller’s market territory.

• Apartments sales spiked in March. Up 21% Month over month. Townhomes sales are also on the rise.

Richmond

• Apartment sales increased by 24.8% month-over-month.

• Townhomes sales went up from 39 sold in February to 53 sold in March. (That’s a 36% increase!)

• Detached homes has the lowest sales to active ratio out of the 3 property types.  Only 8.7% of the single-family houses were sold in March.

• The highest sales ratios were in Brighouse South, McLennan North, and Steveston South, with 31%, 21%, and 25%, respectively.

Burnaby

• Townhome sales increased from 34 in February to 48 in March, signalling rising activity.

• Apartment sales in key neighborhoods like Brentwood and Metrotown remain in buyer’s market territory. Brentwood sales declined 21.6% month-over-month, while Metrotown sales remained steady.

  
  

Surrey

• The Condo market is weak but is showing signs of recovery. In Whalley, over 700+ apartments were listed on the market, only less than 10% of the homes were sold. Sales price, held constant while inventory and sales both rised 9% and 21% respectively.

  
  
  
  

Hit reply if you’re looking for more specific guides for your neighbourhood!

Metro Vancouver statistics and numbers

• New Listings:

  • February 2025: 5,057

  • March 2025: 6,455

  • M-M Change: +27.6% (an increase of 1,398 listings)

• Total Active Listings:

  • February 2025: 12,744

  • March 2025: 14,546

  • M-M Change: +14.1% (an increase of 1,802 listings)

Sales

• Total Residential Sales:

  • February 2025: 1,827

  • March 2025: 2,091

  • M-M Change: +14.4% (an increase of 264 sales)

• Detached Homes Sales:

  • February 2025: 477

  • March 2025: 527

  • M-M Change: +10.5% (an increase of 50 sales)

• Apartment Homes Sales:

  • February 2025: 976

  • March 2025: 1,084

  • M-M Change: +11.1% (an increase of 108 sales)

• Attached Homes (Townhouses) Sales:

  • February 2025: 359

  • March 2025: 472

  • M-M Change: +31.5% (an increase of 113 sales)

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