Greater Vancouver Real Estate: 2024 Trends and 2025 Opportunities

by Andrew Krysler

Welcome to 2025! The Greater Vancouver real estate market has demonstrated dynamic trends that provide exciting opportunities for buyers, sellers, and investors alike. Whether you plan to move, invest, or stay informed, understanding these insights can help you make confident decisions for the year ahead.

2024: A Year of Resilience and Growth

Sales Rebound in Late 2024

After a slower start to the year due to high mortgage rates, the market showed renewed energy in late 2024, with December recording a 31% increase in sales compared to December 2023. Notably, townhomes led the way, witnessing a 55.9% surge in sales.

Key Sales Stats:

Annual Sales: 26,561 (up 1.2% from 2023)
December Detached Sales: +31.4%
December Townhome Sales: +55.9%
December Apartment Sales: +23.9%

Home Prices Show Stability

Despite fluctuations, the Greater Vancouver market remained stable, with slight year-over-year increases across most property types.

Benchmark Prices:

Detached Homes: $1,997,000 (+2% YoY)
Townhomes: $1,114,600 (+3.4% YoY)
Apartments: $749,900 (-0.1% YoY)
For a detailed breakdown of prices by region, visit the Greater Vancouver REALTORS® market report.

Increased Inventory Benefits Buyers

2024 saw a significant increase in listings, providing buyers with more choices and easing market competition.

Inventory Highlights:

Total Listings: 60,388 (up 18.7% from 2023)
Active Listings (December): 10,948 (up 24.4% from December 2023)
Looking to explore available properties? Check out Current Listings

Regional Highlights

Different regions in Greater Vancouver performed uniquely, reflecting varying buyer preferences and opportunities.

Regional Highlights

Different regions in Greater Vancouver performed uniquely, reflecting varying buyer preferences and opportunities.

North Vancouver: Detached home prices up 6%.
Richmond: Detached home prices up 5.7%.
Burnaby North: Townhome prices increased by 13%.

These regions continue to attract interest due to their lifestyle, amenities, and investment potential.

2025: What to Expect

With the onset of 2025, the Greater Vancouver housing market is poised for continued growth and opportunity. Declining mortgage rates and a return to historical sales trends create favorable conditions for buyers, sellers, and investors.

Opportunities Ahead:

For Sellers: The rising demand and stable prices create favorable conditions for listing.
For Buyers: Increased inventory and lower borrowing costs enhance affordability.
For Investors: Townhomes and apartments continue to show strong potential for returns.

How to Leverage These Trends

Whether you’re looking to buy, sell, or invest, now is the time to act strategically. Understanding the market and aligning your goals with current trends is key to success.

Final Thoughts

Greater Vancouver’s real estate market in 2024 displayed resilience and growth, suggesting that 2025 could present even greater opportunities. By staying informed and making strategic decisions, you can take advantage of the opportunities this dynamic market offers.

If you have questions about how these trends affect your real estate plans, contact me today. Let’s make 2025 your most successful year in real estate yet!

For tailored insights and expert advice on navigating current market conditions, consider reaching out for a consultation.

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For tailored insights and expert advice on navigating current market conditions, consider reaching out to Andrew Krysler. His focused approach ensures that you can make confident and informed real estate choices during this dynamic period.

Contact Andrew Krysler:

Phone: +1 (604) 368-6250
Email: [email protected]
Website: andrewkrysler.com

Disclaimer

This blog is for informational purposes only and should not be considered professional advice. While every effort has been made to ensure the accuracy of the information, real estate markets are subject to change, and specific circumstances may vary. Readers are encouraged to consult with a qualified real estate or financial professional before making any decisions based on the content of this blog.