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Sales of detached homes in February 2025 saw a 14.8 per cent decrease from the detached sales recorded in February 2024
Real Estate market conditions remain in a balanced territory.
That’s according to the latest monthly report from Greater Vancouver Realtors (GVR), which notes that after a 46 per cent year-over-year increase of new listings in January 2025, the number of newly listed properties on the MLS in Metro Vancouver rose more moderately this February.
GVR reports that February 2025 residential sales in the region saw an 11.7 per cent decrease from the sales recorded in February 2024. That total was also 28.9 per cent below the 10-year seasonal average.
“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,” said Andrew Lis, GVR’s director of economics and data analytics said in a news release.
With a .25% rate Bank of Canada rate cut rate reduction today, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times.
There was a 10.9 per cent increase in newly listed detached, attached, and apartment properties newly on the MLS in February 2025 compared to the properties listed in February 2024, according to the report.
The benchmark price for a single-detached house in Ladner last month was $1,398,600, almost unchanged from this January, while up just over three per cent from February 2024.
The February 2025 benchmark price for a single-detached house in Tsawwassen was $1,654,800, which was up just over three per cent from the previous month, while up 6.4 per cent compared to February 2025.
The February 2025 benchmark prices for a townhouse in Ladner and Tsawwassen were $1,041,400 and $1,007,800, respectively.
The benchmark prices for a condo last month in Ladner and Tsawwassen were $624,500 and $619,200, respectively.
If you're navigating this dynamic market, whether buying or selling, let's talk strategy. Our team can guide you through the most efficient processes, aiming to save you time, money, and hassle. Contact us today, and let's make your real estate journey successful!
