Home sellers off to an active start in 2025 – January 2025 Greater Vancouver Realtors Statistics
VANCOUVER, BC – February 4, 2025 – Homes newly listed on the MLS® in Metro Vancouver rose 46 percent year-over-year in January, as sellers appear eager to enter the market to start the year. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totaled 1,552 in January 2025, an 8.8 percent increase from the 1,427 sales recorded in January 2024. This was 11.3 percent below the 10-year seasonal average (1,749).
“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,” Andrew Lis, GVR’s director of economics and data analytics said. “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 percent increase compared to the 3,788 properties listed in January 2024. This was 31.1 percent above the 10-year seasonal average (4,247).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1 percent increase compared to January 2024 (8,633). This is 33.2 percent above the 10-year seasonal average (8,632).
Across all detached, attached, and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 percent. By property type, the ratio is 9.2 percent for detached homes, 18.5 percent for attached, and 16.5 percent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 percent for a sustained period, while home prices often experience upward pressure when it surpasses 20 percent over several months.
“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,” Lis said. “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 represents a 0.5 percent increase over January 2024 and a 0.1 percent increase compared to December 2024. Sales of detached homes in January 2025 reached 380, a 0.3 percent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 percent increase from January 2024 and a 0.4 percent increase compared to December 2024.
Sales of apartment homes reached 846 in January 2025, a 13.4 percent increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100. This represents a 1.7 percent decrease from January 2024 and a 0.2 percent decrease compared to December 2024. Attached home sales in January 2025 totaled 321, a 12.6 percent increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600. This represents a 2.7 percent increase from January 2024 and a 0.8 percent decrease compared to December 2024.
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