Metro Vancouver Real Estate Market Update - January 2025

by Hassenn Khaseipoul

The Greater Vancouver real estate market saw a slight uptick in sales this January, but activity remains below the long-term average. January 2025 recorded 1,552 residential sales, an 8.8% increase compared to January 2024 (1,427 sales). However, this figure is still 11.3% below the 10-year seasonal average of 1,749 sales.

Inventory has seen a significant increase. The total number of active listings on the MLS® system in Metro Vancouver reached 11,494, a substantial 33.1% jump from January 2024 (8,633) and 33.2% above the 10-year seasonal average (8,632).

This increased supply is giving buyers more choices and potentially leading to longer decision-making timelines. While well-priced and updated properties are still selling relatively quickly, sellers of other properties should be prepared for a longer time on market.

Interest Rate Developments:

Positive News: The Bank of Canada (BOC) has lowered the overnight rate by another 25 basis points, directly impacting variable mortgage rates. Additionally, five-year bond yields have decreased, likely due in part to uncertainty surrounding potential trade actions, which could positively influence five-year fixed mortgage rates.