Market Update May 2025

May Snapshot

Residential sales across Metro Vancouver registered 2,228 transactions in May 2025, down 18.5 % from a year earlier and 5.9 % above April (REBGV May 2025). Inventory ballooned to 17,094 active listings—the deepest May pool in a decade. The composite benchmark eased 0.6 % to $1,177,100, extending the market’s gentle down‑drift.

Sales & Listings Momentum

New listings totalled 6,620 (+3.9 % YoY). The sales‑to‑active ratio (SAR) hit 13.4 %: detached 10.2 %, townhomes 17.4 %, apartments 14.7 %. Readings hover just above the buyers’‑market threshold, signalling mild price pressure.

Price Trends

Detached benchmark: $1,997,400 (‑1.2 % MoM, ‑3.2 % YoY). Apartment: $757,300 (‑0.7 % MoM). Townhouse: $1,106,800 (+0.4 % MoM).

Supply–Demand Balance

Average DOM: 34–37 days. Well‑priced East Vancouver houses under $1.8 M still sold in <15 days, while luxury west‑side listings lingered >60 days.

Policy Watch

The BoC’s April 9 rate cut (see !INSERT LINK: BoC Delivers First 2025 Rate Cut!) and looming July move set the tone; STR registration and Budget 2025 capital‑gains changes continued to shape investor calculus.‍

REBGV May 2025 Metrics

• Detached: 6,420 active / 654 sales, Benchmark $1,997,400, 36 DOM, 10.2% SAR
• Townhome: 2,700 active / 469 sales, Benchmark $1,106,800, 30 DOM, 17.4% SAR
• Apartment: 7,974 active / 1,087 sales, Benchmark $757,300, 34 DOM, 14.7% SAR
• Total: 17,094 active / 2,228 sales, Benchmark $1,177,100, 13.4% SAR

Macro‑Economic Context

BC unemployment edged to 5.5 % in May; wage growth (4.2 %) outpaced inflation (2.7 %) (Statistics Canada).

Forward‑Looking Indicators

Pre‑sale absorptions averaged 38 % at 90 days. Under‑performance hints that 2027‑28 completions could thin, setting up future supply risk.

Financing Corner

Five‑year fixed mortgages averaged 4.44 % (Ratehub). A 25‑bp move changes buying power on an $800 k purchase by ≈$14k.

Key Takeaways

• Inventory crest: Buyers enjoy unprecedented choice.
• Orderly adjustment: Prices drifting, not crashing.
• Policy levers: Rate cuts and STR rules shape sentiment.
• Watch pre‑sales: Weak absorptions flag future shortages.

FAQ

Is it a good time to buy? If financing is secure and horizon long, current conditions favour diligent buyers.

Will prices fall further? Sustained SAR <12 % would be required; current reading suggests mild downward tilt.

This article is for informational purposes only. Statistics and market conditions are current as of the publication date and may change without notice. It is not legal or financial advice. Always verify details and consult qualified professionals before making real-estate decisions.