Home sellers off to an active start in 2025

This month has been busier than ever in my 19 years as a Realtor, with many questions about market momentum, interest rates, and potential tariffs.

The North Vancouver market is off to a strong start this year. Buyers have been active in January, with solid sales and listing totals for apartments, townhouses, and detached houses. The detached market is particularly busy in the entry-level range, with competitive offers becoming more frequent. Despite a 49% increase in inventory levels compared to last year, there’s a shortage of high-quality options, and well-priced, move-in ready homes.

We’re also seeing renewed activity at higher price points, with more traction in the $3 million+ range than we’ve seen in quite some time. Nearly a third of January sales were above this threshold.

The North Vancouver condo market was the busiest segment, with 82 sales in January, a 30% increase from last year. Most were entry level one- and two-bedroom properties, suggesting strong activity from first-time buyers. Townhouses on the North Shore remain stable, but off the North Shore, this market segment is very active. Specifically, East Van and Burnaby have posted some impressive sale values well above list price.

West Vancouver and the Westside are showing signs of improvement but remain slow providing for great opportunity for buyers. Their higher home prices make it difficult to predict future sales performance given the current affordability challenges that remain prevalent with many of today’s buyers. We’ll continue to monitor these markets closely as activity increases in higher-priced properties.

The recent interest rate drop, the sixth from the Bank of Canada, continues to boost market confidence, as evidenced by the increase in buyers across all markets.

There are concerns about a potential tariff war, which is new territory for the real estate industry. Some buyers and sellers are taking a wait-and-see approach, but our market remains strong. There will always be people looking to buy and sell in our beautiful cities that we call home.

Even with the recent snowfall, which tends to slow the market, overall activity remains strong. The coming months will provide more clarity on the trajectory of the 2025 housing market.

If you have any questions about how these market conditions may affect your specific situation, please don’t hesitate to contact me. I’m happy to discuss your property questions.

-Dan Pigott

604-862-4124

Last Month’s Listings and Sales

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News From the Real Estate Board for Greater Vancouver

Homes newly listed on the MLS® in Metro Vancouver rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year. 

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.

“With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions,” Lis said. “Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead, if any.”

The Board reports that for Metro Vancouver the sales-to-active listings ratio for the month of January were:

• 9.2% for detached homes

• 16.5% for apartments

• 18.5% for townhomes

(The sale to active ratio indicates what type of market each sector is in. 0-12% equals a buyer’s market, 12-20% equals a balanced market and 20-100% equals a seller’s market.)

If 2025 is your year to make a move, let us help you customize a successful plan. Call us to get started.

-Dan Pigott
604-862-4124
dan@pigottproperties.com

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