Welcome to our April Market Report

Despite favourable market conditions—including softened prices, increased inventory, and lower mortgage rates—spring activity across Metro Vancouver has been slower than anticipated. Political uncertainty ahead of the federal election and ongoing volatility in the U.S. continues to weigh on buyer confidence, pushing much of the Lower Mainland into buyers’ market territory.

North Vancouver, however, remains a notable exception with some areas and housing types  favouring sellers. Detached homes and townhouses continue to perform well, with sales-to-active listings ratios of 21.7% and 24%, respectively—well above Greater Vancouver’s 10.3% and 21.5%. While the broader market waits for momentum to return, North Vancouver continues to show resilience and remains steady.

Although buyer activity is lower than usual, well-priced homes are still selling—and sellers across all markets are finding success with the right strategy. Whether you're ready to list or just want to stay informed, we're here to help. Let's put a plan together or simply keep you updated on what’s happening in your area. Reach out anytime! 

Last Month’s Listings and Sales

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News From the Real Estate Board

A Market Made for Buyers is Missing Buyers

Home sales registered on the MLS® in Metro Vancouver* for the month of March were the lowest going back to 2019 for the same month, while active listings continue to their upward trend.

"If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to engage — but so far, buyers have not shown up in the numbers we typically see at this time of year."

“The current market bares resemblance to early 2023 where price trends were generally flat, and sales started the year off slowly before gaining momentum in the spring and summer months,” Lis said. “While market conditions overall remain balanced, it’s worth noting that the attached segment continues teetering on the threshold of a sellers’ market as a result of a chronic undersupply, with only about 2,200 active listings available for prospective buyers throughout the entire region.”

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

• 10.3% for detached homes

• 16.2% for apartments

• 21.5% 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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