Downtown Vancouver Condo Market Statistics

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 their upward trend. 

The Greater Vancouver Realtors (The Real Estate Board) reports that residential sales in the region totalled 2,091 in March 2025, a 13.4% decrease from the 2,415 sales recorded in March 2024. This was 36.8% below the 10-year seasonal average (3,308). 

“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,” said Andrew Lis, GVR’s director of economics and data analytics. “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 total number of properties currently listed for sale on the MLS system in Metro Vancouver is 14,546, a 37.9% increase compared to March 2024 (10,552). This is 44.9% above the 10-year seasonal average (10,038). 

“The current market bears 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.” 

Focusing on the Downtown Vancouver condo market in March 2025, the number of sales was remarkably low and those who are overpriced aren’t selling. 

The under $900,000 market is selling at 16%, 87 out of 551 homes are selling, the same as last month. 

The $900,000 to $1,000,000 market is selling at 7%, 7 out of 94 homes are selling, down 4% from last month. 

The $1,000,000 to $1,250,000 market is selling at 12%, 18 out of 149 homes are selling, up 6% from last month. 

The $1,250,000 to $2,000,000 market is selling at 5%, 14 out of 255 homes are selling, down 4% from last month. 

The $2,000,000 to $2,500,000 market is selling at 6%, 5 out of 87 homes are selling, up 6% from last month. 

The $2,500,000 to $3,000,000 market is selling at 4%, 2 out of 48 homes are selling, up 2% from last month. 

The $3,000,000 to $5,000,000 market is selling at 3%, 2 out of 60 homes are selling, up 1% from last month.

The $5,000,000 plus market is selling at 0%, 0 out of 41 homes are selling, same as last month.

Total unit sales in Downtown Vancouver were up 12% from last month and down 37% from March 2024. 

Those who are priced correctly for this market are selling on average at a rate of 20 days which is 1% slower than last month.

The median price decreased 4% from last month, and the median price has decreased 5% from March 2024. 

The average price per square foot increased from $1,076 in February to $1,050 in March.

Our Downtown Vancouver inventory increased by 17% from last month with 1262 active listings which is up 31% from March 2024.  

As always, the sellers’ best bets still remain 1 bedroom condos in particular in Downtown, Yaletown and the West End. And the buyers’ best bets are units priced between $2.25 to $2.5million. 

I hope you find this helpful, but should you have any questions please don’t hesitate to ask.

Sincerely,

Ian