faithwilson | Christie’s International Real Estate’s exclusive and comprehensive Vancouver area Market Analyses for March 2025.
Active Listings Trend Upward but Buyers Go Missing
As we turn the page on the first quarter of 2025, the Metro Vancouver real estate market continues to reflect the evolving dynamics of supply & demand. March brought with it the lowest number of sales for the month since 2019, even as listing activity continues to rise – offering new opportunities for buyers and signalling shifting conditions for sellers.
According to the latest data from Greater Vancouver REALTORS® (GVR), 2,091 homes were sold across Metro Vancouver in March 2025. That’s a 13.4 percent decrease from the same time last year and sits 36.8 percent below the 10-year seasonal average of 3,308 sales. While this might initially suggest a cooling market, the full picture tells a more nuanced story.
We saw 6,455 new listings hit the market in March – up 29 percent year-over-year and 15.8 percent above the 10-year average. The total number of homes actively listed for sale reached 14,546, marking a significant 37.9 percent increase compared to March 2024. This is also nearly 45 percent above the decade average, giving buyers more options than they’ve had in years.
Taking a closer look at Vancouver’s west side, sales of detached properties hit 52 units in March 2025, a one-year change of -17.5 percent. The activity snapshot for condos shows sales of 292 units in March, down slightly at -3.3 percent. Finally for a west side townhome this past month, sales of 38 units was down -20.8 percent compared to March 2024. As faithwilson | Christie’s International has reported previously, spring often sparks momentum in the market as the weather warms up.
Checking MLS® HPI Benchmark Prices for Vancouver – West, we see a single family homes sits at $3,451,900 – that’s up +0.1 percent year-over-year. The current benchmark price for a west side condo is $849,400, a one-year change of +0.9 percent. And the benchmark price for a townhome in Vancouver – West is $1.478,800, also up +0.5 percent compared to March of last year.
At faithwilson | Christie’s International Real Estate we monitor closely the Sales-to-Active ratio closely, a key indicator of market balance on Vancouver’s west side. Overall it sits at 11.9 percent for all housing types. This breaks down to 7.8 percent for detached homes, 15.0 percent for condos, and 12.9 percent for townhomes. Historically, sustained ratios below 12% can put downward pressure on prices, while sustained ratios above 20% tend to drive prices up.
For buyers, today’s market presents more choice and the opportunity to negotiate with confidence. For sellers, especially in the townhouse and select condo segments, well-priced, well-presented properties are still moving.
Whether you’re looking to make your next move, invest strategically, or simply understand what your home is worth in today’s climate, I’m here to guide you with data-driven insight and the personalized service you deserve.
Faith Wilson – Founder & CEO faithwilson | Christie’s International Real Estate
Vancouver West Side Report:
Vancouver East Side Report:
Other Lower Mainland Reports:
