April Sales Decline Despite Low Rates & High Inventory

This April marked another month of cooling sales activity across Vancouver’s housing market, with transactions down nearly 24% compared to last year. As economic uncertainties persist, buyers appear to be waiting on the sidelines, creating a market environment that favours patience, strategy, and opportunity.
 

Residential sales totalled 2,163 in April 2025, down 23.6% from 2,831 sales in April 2024. This was also 28.2% below the 10-year seasonal average, marking one of the slowest Aprils on record. 
 

New listings totalled 6,850, down 3.4% year-over-year, but still 19.5% above the 10-year seasonal average. The total number of active listings climbed to 16,207 homes, representing a 29.7% increase over April 2024 and a 47.6% increase above the seasonal norm—offering buyers the widest selection of homes since 2014.

Despite slower sales, home prices remained relatively stable. The benchmark price for all property types was $1,184,500, down 1.8% year-over-year and 0.5% month-over-month. With the sales-to-active listings ratio at 13.8%, the market remains in balanced territory, though trending closer to favouring buyers in most segments.

• Detached home sales dropped sharply to 578, down 29% year-over-year. The benchmark price fell slightly to $2,021,800, a 0.7% annual decline and 0.6% lower than March 2025.

• Attached home sales totalled 442, marking a 23.8% decline year-over-year. The benchmark price for a townhouse fell to $1,102,300, a 2.9% drop from April 2024 and down 1% from March.

• Apartments saw 1,130 units sold, a 20.2% drop from April 2024. The benchmark price decreased to $762,800, down 2% year-over-year and 0.6% month-over-month.

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““Inventory levels have just crested 16,000 for the first time since 2014… These factors benefit buyers, and with balanced conditions across the market overall, there’s plenty of opportunity for anyone looking to make a purchase.””

— Andrew Lis | REBGV Director, Economics and Data Analytics

April Sales Decline Despite Low Rates & High Inventory

As the market moves into the spring season, there’s a sense of cautious optimism. According to Andrew Lis, the current conditions resemble those seen in early 2023 when price trends remained flat and sales started slowly before gaining momentum in the warmer months.

With mortgage rates low and inventory high, buyers are positioned well to find opportunities, but economic and political uncertainties—including potential impacts from the new U.S. administration—could continue to affect buyer confidence. Sellers may need to remain flexible in pricing strategies to attract hesitant buyers.

For those looking to make a move this spring, now may be the time to capitalize on the increased availability of homes. For those considering selling, reach out today for a complimentary home equity health check to assess your property’s value and explore your options in this evolving market.

If you're considering selling, reach out for a complimentary home equity health check, and take the first step to understand how much your home is really worth today.