As the new year unfolds, Metro Vancouver’s housing market is already showing signs of heightened activity. The latest market statistics from January 2025 reveal a significant shift in seller momentum, creating new opportunities and considerations for buyers and investors across the region.
Surge in New Listings Sets the Tone
Home sellers have hit the ground running in 2025, with new listings on the MLS® increasing by 46% compared to January 2024. A total of 5,566 properties—ranging from detached homes to apartments—entered the market, marking a substantial 31% jump above the 10-year seasonal average.
This uptick in inventory comes after several months of buyer-driven activity that concluded 2024. According to Andrew Lis, Director of Economics and Data Analytics at Greater Vancouver REALTORS® (GVR), “Even with this increase in new listing activity, sales continue to outpace last year’s figures, signaling that buyer appetite remains strong.”
Sales Remain Steady Amid Increased Inventory
January 2025 recorded 1,552 residential sales across the Greater Vancouver region—an 8.8% increase from January 2024 but 11.3% below the 10-year average. Here’s a breakdown of the sales by property type:
• Detached Homes: 380 sales (+0.3% YoY)
• Apartments: 846 sales (+13.4% YoY)
• Attached Homes: 321 sales (+12.6% YoY)
The balanced sales-to-active listings ratio of 14.1% reflects a market that’s neither favoring buyers nor sellers. However, variations by property type are noteworthy:
• Detached homes: 9.2% (leaning towards a buyer’s market)
• Attached homes: 18.5%
• Apartments: 16.5%
Historically, sustained ratios below 12% put downward pressure on prices, while upward pressure is observed when ratios exceed 20%.
Price Movements: Stability Across the Board
Despite the robust listing activity, price movements in January remained relatively stable, reflecting the balanced market conditions:
• The composite benchmark price for all residential properties stands at $1,173,000, up 0.5% year-over-year.
• Detached homes saw a 3.1% YoY increase to $2,005,400, driven by demand in high-value areas like North Vancouver and Burnaby.
• Apartments witnessed a 1.7% YoY decrease, bringing the benchmark price to $748,100.
• Townhomes showed a 2.7% YoY gain, with a benchmark price of $1,105,600.
Regional Hotspots to Watch
Several regions outperformed in terms of price appreciation and sales growth:
• North Vancouver: Detached homes experienced a 3.1% price increase YoY, with a benchmark price of $2,196,200.
• Burnaby: Significant increases in listings and steady sales growth highlight this area as a major player in 2025.
• Sunshine Coast: Strong gains were recorded in detached home prices (+3%) and apartment activity.
Economic Factors to Watch in 2025
While moderate price growth is expected this year, external factors could influence the market. The looming possibility of U.S. tariffs on Canadian exports poses a risk to economic stability, which may affect housing market projections.
As Lis cautions, “Whether these tariffs materialize, their duration, and any Canadian response will play a crucial role in shaping the housing landscape for the months ahead.”
Navigating the Market
For both buyers and sellers, the current environment presents unique opportunities. The increase in listings gives buyers more options, while sellers can take advantage of relatively stable pricing before any potential economic disruptions. If you’re considering a move, our team can guide you through the intricacies of today’s market.