Vancouver Monthly Real Estate Market Update – January 2025
Year-over-Year Comparison: January 2025 vs. January 2024
The Vancouver Real Estate Market showed moderate growth in January 2025 compared to the same period last year. Total residential sales increased by 8.8%, rising from 1,427 in January 2024 to 1,552 in January 2025. This indicates a steady demand for housing despite economic conditions.
- Single-Family Homes: Sales remained relatively stable, with 380 transactions in January 2025 compared to 379 in January 2024. However, active listings increased by 28.8%, from 3,191 to 4,109, providing buyers with more options. The benchmark price saw a 3.2% increase, reaching $2,005,400.
- Townhouses: The townhouse market showed strong growth, with 321 units sold in January 2025, marking a 12.6% increase from 285 sales in January 2024. Active listings surged by 39.4%, jumping from 1,247 to 1,739, while the benchmark price rose 3.6% to $1,105,600.
- Apartments: Sales of apartments increased by 13.4%, from 746 to 846 year-over-year. The number of active listings also grew significantly by 37.1%, reaching 5,134. However, the benchmark price showed a slight decline of 0.5%, settling at $748,100, suggesting that buyers have more negotiating power in the condo market.
Overall, the Vancouver Real Estate Market has expanded with more inventory and higher sales activity compared to January 2024, with the most significant price appreciation seen in single-family homes and townhouses.
Month-over-Month Comparison: January 2025 vs. December 2024
Compared to December 2024, January 2025 experienced a 12% decline in total residential sales, dropping from 1,765 to 1,552. This slowdown is typical following the holiday season but is still higher than January 2024 levels.
- Single-Family Homes: Sales fell by 23%, from 494 in December 2024 to 380 in January 2025. Despite this, the benchmark price saw a modest 0.4% increase from $1,997,000 to $2,005,400. Active listings remained relatively stable, suggesting a balanced market.
- Townhouses: Townhouse sales declined by 13.5%, from 371 to 321, while active listings increased from 1,574 to 1,739. The benchmark price dropped slightly by 0.8%, indicating potential softening in demand.
- Apartments: Apartment sales saw a 5% drop, from 891 to 846, with active listings increasing by 7.5% to 5,134. The benchmark price dipped slightly from $749,900 to $748,100.
Despite the month-over-month decline in sales, prices have remained relatively stable. The increase in inventory across all property types suggests a shift toward a more balanced market in early 2025.
Vancouver Real Estate Market Outlook
The following graphs provide a visual representation of the data discussed above, offering deeper insights into current Vancouver Real Estate Market trends. One key takeaway is that apartments continue to be the preferred choice among buyers.
Overall, while sales dipped from December’s high activity due to seasonal trends, all property types saw year-over-year growth, indicating rising demand and buyer confidence.
Even though the number of single-family home listings is almost the same as apartment listings, apartment sales are noticeably higher. This shows that more buyers are choosing apartments over houses.
When we compare benchmark prices with the number of active listings, it becomes clearer why apartments are in such high demand. Factors like affordability, location, and accessibility likely play a big role in this trend.
The graphs also show an overview of Vancouver’s residential sales from January 2023 to January 2025. The real estate market naturally has ups and downs, but one thing stays the same—activity always picks up in the spring and summer. Even though this year started a bit slow, history suggests that things will pick up again soon.
How Winright Law Can Help You in the Vancouver Real Estate Market
Whether you’re buying, selling, or investing in Vancouver real estate, having the right legal support can make all the difference. At Winright Law, our experienced real estate lawyers in Vancouver provide professional guidance at every stage of the process. Whether you’re purchasing a condo, selling a townhouse, or navigating complex property transactions, our team is here to ensure a smooth and stress-free experience.
Our award-winning real estate law firm in Vancouver offers conveyancing services for homebuyers and sellers, ensuring that all legal aspects of your transaction are handled efficiently. Our conveyancers in BC work closely with clients to oversee every detail, from contract reviews to title transfers. Whether you’re looking for lawyers for closing, lawyers for a house sale, or lawyers for a house purchase, we provide expert legal services tailored to your needs.
No matter where you are in the real estate market, whether you’re a first-time homebuyer, a seasoned investor, or selling your property, Winright Law is committed to protecting your interests.
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