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April 2025 Market Update!

Inventory Up, Sales Down, Price Stable Amidst Economic Uncertainty

The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,184,500

April's real estate market followed the established trend of 2025, marked by elevated inventory levels and corresponding decrease in sales activity. While home prices have remained relatively stable, this stability is partly attributed to some sellers opting to wait out the current market conditions.

Despite significant pent-up demand, economic uncertainty continues to act as ahead wind, preventing this demand from fully materializing. However, the conclusion of Canada's federal election has ended a period of market hesitancy, and we anticipate this will encourage both new buyers and sellers to enter the market.

The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,184,500. This represents a 1.8% decrease over April 2024 and a 0.5% decrease compared to March 2025.

Sales of detached homes in April 2025 reached 578, a 29% decrease from the 814 detached sales recorded in April 2024. The benchmark price for a detached homes $2,021,800. This represents a 0.7% decrease from April 2024 and a 0.6% decrease compared to March 2025. 

Sales of apartment homes reached 1,130 in April 2025, a 20.2% decrease compared to the 1,416 sales in April 2024. The benchmark price of an apartment home is $762,800. This represents a 2% decrease from April 2024 and a 0.6% decrease compared to March 2025. 

Attached home sales in April 2025 totalled 442, a 23.8% decrease compared to the 580 sales in April 2024. The benchmark price of a townhouse is $1,102,300. This represents a 2.9% decrease from April 2024 and a 1% decrease compared to March 2025.

Greater Vancouver Average Sales Price

Residential Average Sale Prices | January 1977 - April 2025

Looking at the broader provincial picture, slower sales are pushing resale inventory to an average above 40,000 listings – a level not seen in over a decade. Consequently, we expect some regions and market segments to experience downward pressure on average prices. Nevertheless, our overall forecast remains largely or flat average prices, as many sellers appear willing to hold firm in the current environment.

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Mortgage Market Update

April 2025

Interest rates, controlled by the Bank of Canada, have fallen a lot since the peak at 7.20% in July 2023 with the Bank of Canada reducing the overnight rate by 2.25% leaving us with a current prime lending rate of 4.95%.

Bond Markets control most of the fixed rates. As of late there has been extreme volatility in the Bond Markets caused by uncertainty created through political measures. The Trump Tariff war has had a huge impact on the bond markets in the US and Canada; our own election and an expected large increase in Canada issuing bonds to pay for the election promises; and overall global economic changes have the bond market going up and down throughout the day. Our mortgage rates hit a bottom around April 4th and since then yields have increased a fair bit.

 The current consensus is that the US has a 90% chance of a recession and Canada is likely to follow. If this is the case we could see bond markets price in lower inflation and fixed rates could drop. The Bank of Canada is expected to reduce the overnight rate by .75% this year.

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