February in Vancouver is a time of coastal winter beauty and local events. Locals and visitors embrace the season by strolling along the scenic seawall, enjoying the city’s cozy café culture, or attending events like the Vancouver International Wine Festival. Whether bundling up for a rainy-day hike or indulging in a warm bowl of ramen, February offers the perfect blend of outdoor adventure and urban comfort.

After a 46% year-over-year increase in new listings in January, the number of newly listed properties on the MLS® in Metro Vancouver rose more moderately in February, helping to keep market conditions in balanced territory. As buyer activity remained steady, the market continued to adjust to shifting supply levels while maintaining overall stability.

Home sellers off to an active start in 2025

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,827 on Metro Vancouver’s Multiple Listing Service® in February 2025, an 11.7 per cent decrease from the 2,070 sales recorded in February 2024. This total was 28.9 per cent below the 10-year seasonal average (2,571).

“After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions. With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times.” – Andrew Lis, GVR director of economics and data analytics

Inventory

There were 5,057 detached, attached and apartment properties newly listed for sale on the MLS® in February 2025. This represents a 10.9 per cent increase compared to the 4,560 properties listed in February 2024. This was 11.6 per cent above the 10-year seasonal average (4,530).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,744, a 32.3 per cent increase compared to February 2024 (9,634). This is also 36.4 per cent above the 10-year seasonal average (9,341).

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2025 is 14.8 per cent. By property type, the ratio is 10.7 per cent for detached homes, 18.5 per cent for attached, and 16.8 per cent for apartments.

Home Price Data Analysis

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Detached

Sales of detached homes in February 2025 reached 477, a 14.8 per cent decrease from the 560 detached sales recorded in February 2024. The benchmark price for a detached home is $2,006,100. This represents a 1.8 per cent increase from February 2024 and is virtually unchanged compared to January 2025.

Apartments

Sales of apartment homes reached 976 in February 2025, a 10.6 per cent decrease compared to the 1,092 sales in February 2024. The benchmark price of an apartment home is $747,500. This represents a 2.8 per cent decrease from February 2024 and a 0.1 per cent decrease compared to January 2025.

Attached Homes

Attached home sales in February 2025 totalled 359, a 10.9 per cent decrease compared to the 403 sales in February 2024. The benchmark price of a townhouse is $1,087,100. This represents a 1.2 per cent decrease from February 2024 and a 1.7 per cent decrease compared to January 2025.

The Stilhavn Report

Whether you are looking to buy or sell a home or investment property in the coming months, or just curious about what’s happing in your neighbourhood, The Stilhavn Report has you covered. Providing in-depth market information and monthly summaries of what’s happening in the areas we service, this monthly report is the perfect starting point for first time buyers and market savvy investors alike.

Navigating BC’s Real Estate Market Amid U.S. Trade Uncertainty

With U.S. tariffs now imposed on Canadian goods, home buyers and sellers may be wondering how this could impact BC’s real estate market. While economic uncertainty can create hesitation, it’s important to recognize that the fundamentals driving our housing market remain strong. For both buyers and sellers, understanding these factors can provide confidence in making real estate decisions.

The Strength of BC’s Housing Market

BC’s real estate market has historically remained resilient, even in times of economic fluctuation. With limited housing supply and consistent demand, home values continue to be supported by strong market fundamentals. Unlike industries directly tied to trade, such as manufacturing and exports, BC’s housing sector is largely driven by local factors, including population growth, job creation, and housing availability.

Navigating BC’s Real Estate Market Amid U.S. Trade Uncertainty

With U.S. tariffs now imposed on Canadian goods, home buyers and sellers may be wondering how this could impact BC’s real estate market. While economic uncertainty can create hesitation, it’s important to recognize that the fundamentals driving our housing market remain strong. For both buyers and sellers, understanding these factors can provide confidence in making real estate decisions.

Real Advice for Home Buyers and Sellers

For Sellers: Be Realistic and Strategic

If you’re selling your home, the key to success in this market is motivation and realistic pricing. Overpricing will only lead to your property sitting on the market longer, and in a shifting market, time is not always on your side. If you’re serious about selling, working with an experienced agent to price competitively from the start will give you the best chance of attracting qualified buyers.

If you’re planning to move up in the market, this could actually work in your favour. While you may sell for slightly less than you originally hoped, you can likely buy your next home at a much better price—offsetting any perceived loss on the sale.

For Buyers: This Is a Rare Window of Opportunity

As a buyer, you are in one of the strongest positions in decades. You have more negotiation power, better choices, and less competition than in recent years. While some buyers hesitate due to economic uncertainty, history shows that those who take advantage of market slowdowns often come out ahead in the long run.

Unlike previous dips in confidence—such as the 2008 financial crisis—this time, fewer investors are competing for properties due to new tax constraints. This means end-user homebuyers (those looking for a place to live rather than an investment) have a clear advantage. If you’re planning to buy a home for the long term, this could be one of the best moments to do so.

The Real Challenge: Uncertainty, Not Market Conditions

The biggest obstacle in today’s market isn’t a lack of demand or economic instability—it’s uncertainty. Many buyers and sellers are waiting on the sidelines, unsure of what to do next. But the truth is, well-priced homes are still selling, and smart buyers are finding great deals. The key is making informed decisions rather than letting uncertainty hold you back.

Now is the time to have a strategic conversation about your real estate goals. Whether you’re buying or selling, working with a knowledgeable agent who understands the nuances of this market can help you make the right moves with confidence.

Final Thoughts

Despite the economic headlines, BC’s housing market remains strong, driven by solid demand, limited supply, and a growing population. Buyers have a rare advantage right now, and motivated sellers who price realistically can achieve successful outcomes. The key to navigating this market is staying informed, confident, and strategic.

If you’re thinking about buying or selling in BC, let’s connect. Reach out! 604-805-6820