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📉 Metro Vancouver Market: Buyers’ Advantage Emerges

In April 2025, Metro Vancouver’s real estate market experienced a notable slowdown. Residential sales totaled 2,163, marking a 23.6% decrease from April 2024 and falling 28.2% below the 10-year seasonal average. 

Despite the drop in sales, inventory levels have surged. The total number of properties listed reached 16,207, a 29.7% increase compared to April 2024 and 47.6% above the 10-year seasonal average.

The sales-to-active listings ratio stands at 13.8%, indicating a balanced market. By property type:

• Detached homes: 9.9%
• Attached homes: 17.5%
• Apartments: 15.7% 

Benchmark prices have remained relatively stable:

• Detached homes: $2,021,800 (0.7% decrease from April 2024)
• Apartments: $762,800 (2% decrease from April 2024)
• Townhouses: $1,102,300 (2.9% decrease from April 2024) 

For buyers, this presents an opportunity to enter the market with more options and less competition.

🇨🇦 National Economic Indicators: Potential Rate Cut Ahead

Canada’s unemployment rate rose to 6.9% in April, matching the highest level since November 2024. The economy added only 7,400 jobs, with significant losses in manufacturing and retail sectors. 

These figures increase the likelihood of the Bank of Canada implementing a 25 basis point rate cut in June. Market expectations for such a move have risen to 60%.

For prospective homebuyers, a potential rate cut could lead to more favorable mortgage rates, enhancing affordability.

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Stay informed and consult with a local REALTOR® to navigate these evolving market conditions.

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Sources: Greater Vancouver REALTORS® April 2025 Market Report, Canadian Mortgage Trends, Reuters.

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