The January 2025 market report released by the Greater Vancouver Realtors (GVR) reflected strong seller enthusiasm, with home sellers eager to list their properties as 2025 began. With the market currently standing in balanced conditions, the threats of economic shocks via tariffs from the US raised uncertainty of market conditions in 2025.
“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,” said Andrew Lis, GVR’s director of economics and data analytics.
Despite momentum shifting towards sellers after watching buyer demand gain momentum in the tail end of 2024, January 2025 sales continue to outpace 2024 figures, indicating an endurance of buyer appetite.
Home Sales There were 1,552 residential property sales in Metro Vancouver in the month of January. This represented an 8.8% increase from the 1,427 sales recorded in January 2024, however it fell 11.3% below the 10-year seasonal average of 1,749.
The number of detached properties sold reached 380, 0.3% more than January 2024.
The number of apartments sold reached 836, 13.4% more than January 2024.
The number of attached properties sold reached 321, 12.6% more than January 2024.
Home Listings
2025 kicked off with 5,566 newly listed detached, attached, and apartment properties for sale on the Multiple Listing Service (MLS) in Metro Vancouver. This represented a substantial 46.9% increase compared to the 3,788 properties listed in January 2024, and 31.1% above the 10 year seasonal average.
At the time of the report, there were 11,494 homes listed for sale on the MLS in Metro Vancouver. This represented a 33.1% increase from January 2024, and 31.1% above the 10-year seasonal average.
Sales-To-Active-Listings Ratio
This is a good indication of the supply and demand forces in the market. Downward pressure on home prices can occur when the ratio is below 12% for a sustained period, and there is upward pressure when the ratio is above 20% for a number of months.
For all property types, the ratio in January was 14.1%. When broken down by property types, the ratio was:
- 9.2% for detached homes
- 18.5% for attached homes
- 16.5% for apartments
The MLS Home Price index composite benchmark price for all residential properties in Metro Vancouver was $1,173,000 in January. This was 0.5% higher than January 2024, and a 0.1% increase compared to December 2024.
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