Tsawwassen Real Estate Market Update – February 2025

Detached Market Weakens, Condos Face Price Pressure, and Townhomes Hold Flat

February 2025 marks a challenging month for Tsawwassen’s detached and condo markets, while townhomes are holding steady despite growing inventory. Detached sales dropped sharply, condos show significant price declines, and all segments are experiencing longer days on market—offering buyers more leverage.

Let’s dive into the latest market stats and expert insights.

Key Market Stats for February 2025

Detached Homes

  • Total Active Listings: 124 (+57.0% YoY)
  • Sales: 6 (-45.5% YoY)
  • Days on Market Average: 32 (-40.7% YoY)
  • MLS® HPI Benchmark Price: $1,654,800 (+6.4% YoY)

Condos

  • Total Active Listings: 79 (+102.6% YoY)
  • Sales: 15 (unchanged YoY)
  • Days on Market Average: 47 (+46.9% YoY)
  • MLS® HPI Benchmark Price: $619,200 (-9.1% YoY)

Townhomes

  • Total Active Listings: 37 (+60.9% YoY)
  • Sales: 6 (-25.0% YoY)
  • Days on Market Average: 33 (+32.0% YoY)
  • MLS® HPI Benchmark Price: $1,007,800 (0.0% YoY)

Market Trends & Expert Insights

  • Detached Homes: Sharp Decline in Sales Despite Price Growth Detached sales dropped 45.5% year-over-year, even as listings increased 57%. Properties sold faster than last year (32 days on market, down 40.7%), but this is likely due to motivated sellers pricing aggressively. Interestingly, prices still rose 6.4% YoY, though this may not be sustainable given current conditions.
  • Condos: Inventory Doubles, Prices Drop The condo market faces mounting pressure. Inventory more than doubled (+102.6%), while sales were flat. Properties sat longer—47 days on market, up 46.9%—and the MLS® HPI Benchmark price dropped 9.1% YoY. Buyers have strong negotiating power in this segment.
  • Townhomes: Market Holding Flat Townhome sales dipped 25%, while inventory rose 61% YoY. Despite this, prices held steady (0.0% change), suggesting relative balance. However, days on market increased 32%, indicating buyers are becoming more cautious.
  • Sales-to-Active Ratio Insights:
    • Detached Homes: 4.8% (Strong Buyer’s Market)
    • Condos: 19.0% (Balanced, leaning toward Buyer’s Market)
    • Townhomes: 16.2% (Balanced Market)

What This Means for Buyers & Sellers

For Buyers:

  • Detached home buyers are in the driver’s seat—low sales and high inventory offer negotiation opportunities.
  • Condo buyers should take advantage of the 9% price drop and rising supply.
  • Townhome buyers face a balanced market but can still negotiate given slower sales.

For Sellers:

  • Detached sellers need sharp pricing strategies—the market is heavily buyer-favored.
  • Condo sellers should expect longer selling times and more price sensitivity.
  • Townhome sellers remain relatively stable but must stay competitive as inventory builds.

Final Thoughts

Tsawwassen’s February market reflects growing buyer power, especially in the detached and condo sectors. Rising inventory and slowing sales mean sellers must adapt quickly. Townhomes remain the most stable segment, but caution is warranted across the board.

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