Posted on
March 6, 2025
by
Anna Litvak
After a 46% year-over-year surge in new listings in January, Metro Vancouver’s MLS® saw a more moderate increase in February, keeping market conditions balanced.
Following January's surge in new listings, February saw home sales and new listings align more closely with historical averages, keeping the market in balanced conditions.
With a possible Bank of Canada rate cut expected in mid-March, homebuyers could see better borrowing conditions while benefiting from the widest selection of homes available since before the pandemic.
Detached Home Sales- in February 2025, 477 detached homes were sold, reflecting a 14.8% decline from the 560 sales in February 2024. The benchmark price for a detached home now stands at $2,006,100. This marks a 1.8% increase from February 2024 and remains nearly unchanged from January 2025.
Apartment Home Sales- in February 2025, 976 apartment homes were sold, down 10.6% from 1,092 sales in February 2024. The benchmark price sits at $747,500, reflecting a 2.8% decline from February 2024 and a slight 0.1% drop from January 2025.
Attached Home Sales- in February 2025, 359 attached homes were sold, marking a 10.9% decline from 403 sales in February 2024. The benchmark price for a townhouse is $1,087,100, down 1.2% year-over-year and 1.7% from January 2025.
In a balanced market, prices tend to stabilize, and we've seen a steady trend across all property types in recent months. However, with the spring season approaching, it will be intriguing to see if buyers take advantage of the favorable market conditions and if sellers become more open to listing their properties.
Interested to discuss the current market situation, have some questions?
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ABOUT ANNA LITVAK JOSEPH
Anna is a licensed REALTOR® based in Greater Vancouver and providing trading real estate services across Metro Vancouver, Greater Vancouver, Fraser Valley & Kelowna. Anna has an impressive track record and a wealth of experience in all the aspects of the real estate industry. As a full-time REALTOR®, Anna is dedicated to providing her clients with top-notch service, expert advice, and outstanding results in their real estate transactions. Anna emphasizes the importance of building valuable relationships and ensuring client satisfaction from the initial thoughts of making a move and through the home ownership journey. Her customer-centric approach is fundamental to her business philosophy.
With over 15 years of sales experience & entrepreneurship, Anna brings a high level of professionalism, customer service, and integrity to her real estate career. Anna’s outstanding performance in real estate is underscored by her impressive achievements. She qualified as a Medallion Club Member in 2018, 2019, 2020, 2021, 2022, and 2023 placing her among the top 10% of real estate agents in Greater Vancouver. Anna has worked hard to gain numerous 5 star testimonials, and is being featured in several publications year over year, including Vancouver Excellence in Real Estate, Top agent Magazines, and more. Anna is also highly ranked in multiple cities across RATE-MY-AGENT.
Anna’s professionalism, expertise and knowledge is the reason why the majority of her business today consists of referral or repeat customers.
About the team: BC PRIME REALTY GROUP is a full-service real estate team that has grown over the years to a trusted brand that provides service to thousands of happy buyers and sellers.
Their dedication has been acknowledged with the prestigious Medallion Club award in 2023, highlighting their excellence as one of the top 10% teams among real estate groups in Greater Vancouver.
BC PRIME REALTY GROUP values diversity and relationship, therefore they follow client- centric approach, making it stress-free journey throughout their real estate experience.
BC PRIME GROUP is truly passionate about their mission of deliver excellence in Real Estate by building long term relationships. Their professionalism, expertise and knowledge is the reason why the majority of their business consists of referral or repeat customers.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.