March in Greater Vancouver arrived with all the signs of spring—cherry blossoms in full bloom, lively outdoor markets lining neighbourhood streets, and a fresh sense of energy as Vancouverites and BC residents welcomed the longer days. From the Vancouver Cherry Blossom Festival to the return of patio season, the city came alive with colour and connection. Amid this seasonal momentum, the real estate market told a more tempered story.
Home sales registered on the MLS® in the Metro Vancouver1 for the month of March were the lowest going back to 2019 for the same month, while active listings continue to their upward trend.
Home Sales
Greater Vancouver REALTORS® (GVR)2 reports that residential sales in the region totalled 2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024. This was 36.8 per cent below the 10-year seasonal average (3,308).
“If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to engage — but so far, buyers have not shown up in the numbers we typically see at this time of year.” – Andrew Lis, GVR director of economics and data analytics.
Inventory
There were 6,455 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2025. This represents a 29 per cent increase compared to the 5,002 properties listed in March 2024. This was 15.8 per cent above the 10-year seasonal average (5,572).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,546, a 37.9 per cent increase compared to March 2024 (10,552). This is 44.9 per cent above the 10-year seasonal average (10,038).
Metro Vancouver Home Sales by Property Type
Across all detached, attached and apartment property types, the sales-to-active listings ratio for March 2025 is 14.9 per cent. By property type, the ratio is 10.3 per cent for detached homes, 21.5 per cent for attached, and 16.2 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 March 2025 reached 527, a 24.1 per cent decrease from the 694 detached sales recorded in March 2024. The benchmark price for a detached home is $2,034,400. This represents a 0.8 per cent increase from March 2024 and a 0.4 per cent increase compared to February 2025.
Apartments
Sales of apartment homes reached 1,084 in March 2025, a 10.2 per cent decrease compared to the 1,207 sales in March 2024. The benchmark price of an apartment home is $767,300. This represents a 0.9 per cent decrease from March 2024 and a 1 per cent increase compared to February 2025.
Attached Homes
Attached home sales in March 2025 totalled 472, a 4.6 per cent decrease compared to the 495 sales in March 2024. The benchmark price of a townhouse is $1,113,100. This represents a 0.8 per cent decrease from March 2024 and a 0.2 per cent increase compared to February 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.
Welcome to an Elevated Real Estate Experience
At Stilhavn, we continue our relentless pursuit of excellence because it’s our intrinsic belief that our clients deserve better than the status quo. When you become a client with Stilhavn you become a client for life, and it is our privilege to serve our community within the Lower Mainland.
We keep our fingers on the pulse, we collaborate extensively across our teams, and we are committed to providing an elevated experience when it comes to your next buying or selling journey.
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