We officially welcome the first day of spring this month. As the weather warms up, Metro Vancouver’s real estate market is balanced and borrowing rates are declining.
Interest rates have returned back to what they were in 2022, offering excellent opportunities for those looking to buy or invest. Real estate experts say now is an excellent window of opportunity for buyers as the market is balanced for the first time in almost a decade. The British Columbia Real Estate Association (BCREA) recently reported that the market is the healthiest is has been in 10 years.
There is a lot of excellent inventory available, and buyers have time to make informed decisions and do their research. The BCREA’s First Quarterly Housing Forecast predicts that Multiple Listing Service (MLS) residential sales in the province will increase 14.3% in 2025. They are expected to climb even higher in 2026.
Last month, there was a 10.9% increase in newly listed properties on the MLS compared to February 2024. The total number of properties currently listed for sale is 32.3% more than the same time last year. This is also 36.4% above the 10-year seasonal average. The benchmark price for a detached home is $2,006,100, up 1.8% from February 2024 and virtually unchanged from January 2025.
Lower interest rates are giving buyers confidence. Real Estate analysts predict the central bank will continue cuts before stopping around 2.5%. It is recommended that buyers get pre-approved for a mortgage now, before the busy spring market gets into full swing.
The upcoming spring market is the perfect time to consider upgrading or downsizing. Call one of our highly knowledgeable VIRANI advisors for a complimentary comparative market analysis of your property. You may be pleasantly surprised to learn what your home is worth and the possibilities it can provide in today’s market.
There are many wonderful real estate opportunities currently available in Metro Vancouver. Lilibet is one of the many excellent offerings. There are still one- and two-bed-plus-rooftop townhomes from $1,598,800 remaining in this intelligently designed low-rise development located across from Vancouver’s beautiful Queen Elizabeth Park. Don’t miss your chance to live in one of Vancouver’s most serene residential neighbourhoods close to vibrant Main and Cambie Streets.
North Vancouver leads the Metro Vancouver region for the fastest-developing city and many people are looking to rent homes in the region. Experience the best in property management services with our RENT + MANAGE division. We offer fast, reliable tenant placement and the most individualized, worry-free service possible. Whether leasing an individual property, purchasing a selection of homes, or expanding your property portfolio, our VIRANI advisors will take care of it all so you can get a higher return on your investment.
I would like to remind you that B.C.’s Speculation and Vacancy Tax declarations are due by March 31 for all homeowners with property in taxable regions. You can declare online, and you need to make a new declaration every year.
We invite you to take time to peruse our upcoming issue of the Spring 2025 V LIST magazine. You’ll find many of Vancouver’s finest properties featured on the pages of our latest offering. I hope you are as inspired and excited as we are to see all these stunning homes together in one publication.
Early blooming flowers remind us that the active spring real estate season is just around the corner. Now is the ideal time of year to consider your next move. Buyers are out and about enjoying the milder weather as they stroll new neighbourhoods searching for their next home.
Current lower borrowing costs and high inventory are creating favorable market conditions for both buyers and sellers. We look forward to another spring season together on our beautiful West Coast.
MARCH 2025 FOUNDER’S MESSAGE
We officially welcome the first day of spring this month. As the weather warms up, Metro Vancouver’s real estate market is balanced and borrowing rates are declining.
Interest rates have returned back to what they were in 2022, offering excellent opportunities for those looking to buy or invest. Real estate experts say now is an excellent window of opportunity for buyers as the market is balanced for the first time in almost a decade. The British Columbia Real Estate Association (BCREA) recently reported that the market is the healthiest is has been in 10 years.
There is a lot of excellent inventory available, and buyers have time to make informed decisions and do their research. The BCREA’s First Quarterly Housing Forecast predicts that Multiple Listing Service (MLS) residential sales in the province will increase 14.3% in 2025. They are expected to climb even higher in 2026.
Last month, there was a 10.9% increase in newly listed properties on the MLS compared to February 2024. The total number of properties currently listed for sale is 32.3% more than the same time last year. This is also 36.4% above the 10-year seasonal average. The benchmark price for a detached home is $2,006,100, up 1.8% from February 2024 and virtually unchanged from January 2025.
Lower interest rates are giving buyers confidence. Real Estate analysts predict the central bank will continue cuts before stopping around 2.5%. It is recommended that buyers get pre-approved for a mortgage now, before the busy spring market gets into full swing.
The upcoming spring market is the perfect time to consider upgrading or downsizing. Call one of our highly knowledgeable VIRANI advisors for a complimentary comparative market analysis of your property. You may be pleasantly surprised to learn what your home is worth and the possibilities it can provide in today’s market.
There are many wonderful real estate opportunities currently available in Metro Vancouver. Lilibet is one of the many excellent offerings. There are still one- and two-bed-plus-rooftop townhomes from $1,598,800 remaining in this intelligently designed low-rise development located across from Vancouver’s beautiful Queen Elizabeth Park. Don’t miss your chance to live in one of Vancouver’s most serene residential neighbourhoods close to vibrant Main and Cambie Streets.
North Vancouver leads the Metro Vancouver region for the fastest-developing city and many people are looking to rent homes in the region. Experience the best in property management services with our RENT + MANAGE division. We offer fast, reliable tenant placement and the most individualized, worry-free service possible. Whether leasing an individual property, purchasing a selection of homes, or expanding your property portfolio, our VIRANI advisors will take care of it all so you can get a higher return on your investment.
I would like to remind you that B.C.’s Speculation and Vacancy Tax declarations are due by March 31 for all homeowners with property in taxable regions. You can declare online, and you need to make a new declaration every year.
We invite you to take time to peruse our upcoming issue of the Spring 2025 V LIST magazine. You’ll find many of Vancouver’s finest properties featured on the pages of our latest offering. I hope you are as inspired and excited as we are to see all these stunning homes together in one publication.
Early blooming flowers remind us that the active spring real estate season is just around the corner. Now is the ideal time of year to consider your next move. Buyers are out and about enjoying the milder weather as they stroll new neighbourhoods searching for their next home.
Current lower borrowing costs and high inventory are creating favorable market conditions for both buyers and sellers. We look forward to another spring season together on our beautiful West Coast.