Spring Market 2025: What Slower Sales Are Really Telling Us
Spring is here — but the real estate market isn’t acting like it. Sales in Metro Vancouver were down nearly 24% this April compared to the same time last year, and activity remains well below the 10-year average.
But before jumping to conclusions, it’s important to step back and look at the full picture. Because behind the slower sales numbers, we’re seeing an environment that could actually present *more opportunity*, not less — especially for buyers and investors who know how to read between the lines.
Inventory Is Up — Way Up
One of the biggest stories that isn’t getting enough attention: supply is back. There are currently over **16,200 active listings** on the market across Metro Vancouver — up almost 30% from last year and the highest April total we’ve seen in over a decade.
This gives buyers more choice, more negotiating power, and more time — three things we haven’t seen a lot of in recent years.
Sales-to-Listing Ratios Point to a Balanced (or Softening) Market
The **sales-to-active listings ratio** — a key stat used to gauge market pressure — landed at:
- **Detached homes:** 9.9%
- **Townhouses:** 17.5%
- **Condos:** 15.7%
- **All property types combined:** 13.8%
Generally speaking, when this ratio falls below 12% for a sustained period, **downward pressure on prices** builds. While we’re not in a full-on buyer’s market yet, we’re close — and that’s something to watch if you’re looking to make a move this season.
Prices Are Softening — But Holding More Than You’d Think
Benchmark pricing for all home types has dipped, but not dramatically:
- **Detached homes:** $2,021,800 (down 0.7% YoY)
- **Townhouses:** $1,102,300 (down 2.9% YoY)
- **Condos:** $762,800 (down 2.0% YoY)
These are modest declines considering how much higher borrowing costs still are — which suggests the market remains resilient, especially in neighborhoods where demand is steady and inventory remains well-matched to buyer needs.
Big Picture: Uncertainty Creates Opportunity
Between political noise, shifting economic policies, and a still-high interest rate environment, a lot of buyers are hesitating. That’s understandable — but it also creates room for opportunity.
If you’re prepared, understand your numbers, and know how to spot value (especially in land or infill-type properties), this could be a rare window to step in while others wait it out.
Spring 2025 isn’t the boom season we’ve seen in the past — but for those with a long view and a strong strategy, it might just be one of the more strategic buying seasons we’ve had in years.