Vancouver, B.C. – Metro Vancouver’s housing market continued its slowdown in April 2025, with home sales plunging nearly 24 per cent compared to the same month last year, according to the latest data from the Greater Vancouver REALTORS® (GVR).
A total of 2,163 residential properties were sold through the Multiple Listing Service® (MLS®) in April, marking a 23.6 per cent drop from the 2,831 sales in April 2024. This figure is also 28.2 per cent below the region’s 10-year seasonal average.
“From a historical perspective, the slower sales we’re now seeing stand out as unusual,” said Andrew Lis, GVR’s director of economics and data analytics. “Improved borrowing conditions would normally lift sales, but global economic uncertainty and domestic political developments have prompted many buyers to remain cautious.”
Despite the slowdown in sales, inventory continues to build. There were 6,850 new listings in April—down 3.4 per cent year-over-year—but total active listings surged 29.7 per cent to 16,207, well above the 10-year average.
The overall sales-to-active listings ratio now sits at 13.8 per cent, indicating a balanced market but leaning toward buyer-friendly conditions. Detached homes posted a ratio of 9.9 per cent, suggesting downward pressure on prices in that segment.
Home prices showed mild declines. The composite benchmark price for all residential properties is now $1,184,500—down 1.8 per cent from April 2024 and 0.5 per cent from March 2025. Detached home prices dipped slightly to $2,021,800, with sales down 29 per cent year-over-year.