Metro Vancouver Real Estate Market Update – January 2025

January in Vancouver is a mix of rain-soaked streets, misty mountain views, and the city’s signature west coast charm. While the downtown core delights with buzzing cafés, waterfront strolls, and cozy indoor escapes, the nearby slopes of Grouse, Cypress, and Seymour offer the perfect winter retreat for skiers and snowboarders. Despite the rain, Vancouverites make the most of the season—warming up with a good coffee, enjoying a scenic drive, or embracing the crisp, fresh air between downpours.

Just like the city itself, the real estate market is kicking off the year with momentum. In January 2025, new MLS® listings in Metro Vancouver1 surged 46% year-over-year, signalling that sellers are eager to enter the market early. With increased inventory, buyers may find more options—but in a competitive market, strategic moves are key.

Home sellers off to an active start in 2025

Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent 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. 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.” – Andrew Lis, GVR director of economics and data analytics

Inventory

There were 5,566 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® in Metro Vancouver in January 2025. This represents a 46.9 per cent increase compared to the 3,788 properties listed in January 2024. This was 31.1 per cent above the 10-year seasonal average (4,247).

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.

Metro Vancouver Home Sales by Property Type

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent. By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 per cent for apartments.

Detached

Sales of detached homes in January 2025 reached 380, a 0.3 per cent 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 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024.

Apartments

Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024.

Attached Homes

Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

Whether you are a Buyer or a Seller in a busy market, the key is to be prepared, get your”ducks in order”. After 20 years as a realtor, I am an expert guide in helping you do just that!

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