VANCOUVER WEST MAY HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release suggests that Buyers appear to be trying to time the market, making for an unusually slow spring in Real Estate for Greater Vancouver. Sellers are now lowering their expectation, so if Buyers would take advantage of that price stabilizing factor along with favourable interest rates and inventory at 45.9 percent above the 10 year seasonal average, it would make for a busier than usual summer. Year to year newly listed properties are up 3.9 percent and last month’s total inventory is 25.7 percent higher than May 2024. Meantime this May recorded an 18.5 percent decrease in residential sales compared to last May. The composite value of all properties is 2.9 percent lower May to May.
The graph shows a 2.2 percent lift from April to May for the average price of Metro Vancouver detached properties. The benchmark price for houses in May 2025 is 3.2 percent below the previous May. Year to year the volume of detached home sales drops 22.7 percent.
Last month versus May 2024, Vancouver west detached prices dip 5.2 percent. West side house sales fall 45.4 percent year to year. Inventory declines 5 percent this May compared to the previous May.
From April to May west side house sales are up 1.9 percent. Month to month detached inventory is down 2.3 percent.