February 2025 saw continued adjustments in Vancouver’s real estate market, with shifting price trends and varying demand across Vancouver East and Vancouver West.
Vancouver East – Strong Sales Ratios Across Property Types
Price Analysis:
House/Detached:
The benchmark price for detached homes in Vancouver East increased by 1.1% month-over-month, reaching $1,862,500. Compared to February 2024, the price rose by 1.6%. Vancouver East remains below Metro Vancouver’s benchmark of $2,006,100.
Browse Vancouver East detached homes under $1,865,000 here, or explore available options above $1,865,000.
Townhouse/Attached:
Townhouse prices in Vancouver East saw a 2.6% month-over-month increase, bringing the benchmark price to $1,169,800. Year-over-year, townhomes appreciated by 5.4%, remaining above Metro Vancouver’s benchmark of $1,087,100.
Explore Vancouver East townhomes listed below $1,170,000 here, or check out exclusive properties above $1,170,000.
Condo/Apartment:
Condos in Vancouver East declined by 1.7% from January, reaching $684,800. Year-over-year, prices fell by 3.2%, staying below Metro Vancouver’s benchmark of $747,500.
Search Vancouver East condos priced below $685,000 here, or view high-end listings above $685,000.
New Listings and Sales:
New listings surged across all property types in Vancouver East compared to December 2024. Detached home listings in Vancouver East rose significantly to 160 in January from 57 the previous month, marking a 27.5% year-over-year increase. Townhouse listings in Vancouver East followed a similar trend, climbing to 217 from 55, reflecting a 27.2% annual rise. Condo listings in Vancouver East also saw a notable increase, reaching 265 from 67, with a 15.1% yearly gain.
New listings in Vancouver East varied across property types. Detached home listings in Vancouver East increased to 171 in February, up from 160 in January, marking a 21.1% year-over-year increase. Townhouse listings in Vancouver East decreased to 148 from 217, reflecting a 7.4% decline year-over-year. Condo listings in Vancouver East also declined to 238 from 265, a 3.4% year-over-year decrease.
Sales activity in Vancouver East remained strong. House sales increased to 54, up from 31 in January, with a 31.6% sales ratio, down 33.4% compared to February 2024. Townhouse sales totaled 58, up from 55 the previous month, with a 39.2% sales ratio, reflecting a 7.0% decline year-over-year. Condo sales reached 92, up from 71 in January, with a 38.7% sales ratio, down 18.7% from last year.
Take a look at all the townhouses in Vancouver East with an open house coming up here.
Vancouver West – Balanced Market for Houses, Strong Sales for Condos
Price Analysis:
House/Detached:
The benchmark price for houses in Vancouver West increased by 1.9% month-over-month, reaching $3,493,200. Year-over-year, this represents a 2.8% gain, keeping it above Metro Vancouver’s benchmark of $2,006,100.
Discover Vancouver West detached homes listed under $3,495,000 here, or explore upscale options above $3,495,000.
Townhouse/Attached:
Townhouses in Vancouver West declined 4.3% month-over-month to $1,414,300, though they remained 0.4% lower year-over-year. This price is above Metro Vancouver’s benchmark of $1,087,100.
Check out Vancouver West townhouses available under $1,415,000 here, or explore luxury properties exceeding $1,415,000.
Condo/Apartment:
Condo prices increased 0.7% from January, reaching $815,700, but declined 2.8% year-over-year. Vancouver West condos remain above Metro Vancouver’s benchmark of $747,500.
View Vancouver West condos listed below $820,000 here, or check out high-end selections above $820,000.
New Listings and Sales:
New listings in Vancouver West showed mixed results. Detached home listings in Vancouver West slightly decreased to 172 in February, down from 183 in January, but still showed a 5.2% year-over-year increase. Townhouse listings in Vancouver West fell to 141 from 188, reflecting a 20.6% increase year-over-year. Condo listings in Vancouver West declined to 751 from 789, marking a 12.8% increase year-over-year.
Sales activity in Vancouver West showed varied trends. House sales increased slightly to 36, up from 35 in January, with a 20.9% sales ratio, down 48.3% from February 2024. Townhouse sales totaled 35, down from 38 the previous month, with a 24.8% sales ratio, reflecting a 39.6% decline compared to last year. Condo sales increased to 236, up from 182 in January, with a 31.4% sales ratio, down 21.4% year-over-year.
Take a look at all the condos in Vancouver West with an open house coming up here.
Metro Vancouver – Market Balances as New Listings Moderate
Metro Vancouver’s real estate market continued adjusting in February, with overall conditions stabilizing. The sales-to-active listings ratio stood at 10.7% for detached homes, 18.5% for townhomes, and 16.8% for condos, keeping the market within balanced territory. Vancouver East and Vancouver West both outperformed Metro Vancouver’s averages, with Vancouver East townhouses having the strongest sales ratio.
Following a surge in new listings in January, February’s numbers rose at a more moderate pace. This shift helped maintain stability across the market, preventing any drastic swings in pricing. Despite a decline in sales compared to February 2024, overall market conditions remain balanced. With a more moderate increase in new listings compared to January, buyers now have the largest selection of homes since pre-pandemic times, offering more choices without creating downward pressure on prices.
As the spring season approaches and potential interest rate cuts loom, the market’s trajectory will largely depend on buyer activity and seller confidence. The balance between supply and demand will be key in determining whether prices remain stable or begin to shift in response to changing economic conditions.
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