Vancouver West Real Estate Market Update – February 2025

Rising Inventory and Slower Sales Define February’s Market

Vancouver West’s real estate market in February 2025 is experiencing noticeable shifts as inventory grows and sales soften—especially in the detached home segment. Townhomes and condos remain relatively balanced but are not immune to the changing landscape. Buyers now have more leverage, particularly in the higher price points.

Let’s break down the numbers and trends shaping the market.

Key Market Stats for February 2025

Detached Homes

  • Total Active Listings: 646 (+24.7% YoY)
  • Sales: 36 (-46.3% YoY)
  • Days on Market Average: 47 (+11.9% YoY)
  • MLS® HPI Benchmark Price: $3,493,200 (+2.8% YoY)

Condos

  • Total Active Listings: 1,738 (+22.0% YoY)
  • Sales: 236 (-9.9% YoY)
  • Days on Market Average: 43 (no change YoY)
  • MLS® HPI Benchmark Price: $815,700 (-2.8% YoY)

Townhomes

  • Total Active Listings: 253 (+23.4% YoY)
  • Sales: 27 (-12.9% YoY)
  • Days on Market Average: 28 (-39.1% YoY)
  • MLS® HPI Benchmark Price: $1,414,300 (-0.4% YoY)

Market Trends & Expert Insights

  • Detached Homes: Buyer’s Market Emerges Detached properties are seeing growing inventory and sharply reduced sales. With sales down 46.3% year-over-year and inventory up nearly 25%, the detached segment is now firmly in buyer’s market territory. Homes are also taking longer to sell. Interestingly, the benchmark price has climbed 2.8%, likely due to higher-end homes skewing averages, but underlying market weakness is evident.
  • Condos: Inventory Growth Meets Mild Sales Decline The condo market is relatively balanced, but growing inventory (+22.0% YoY) is starting to apply downward pressure. Sales dipped 9.9% and prices fell 2.8% YoY. With stable days on market at 43 days, buyers now have more choice and leverage.
  • Townhomes: Slight Softening but Competitive Townhome supply grew 23.4% YoY, while sales slipped 12.9%. Interestingly, properties are selling faster—days on market dropped 39.1% to 28 days. The benchmark price is relatively flat (-0.4% YoY), signaling balance but showing early signs of buyer hesitation.
  • Sales-to-Active Ratio Insights:
    • Detached Homes: 5.6% (Buyer’s Market)
    • Condos: 13.6% (Balanced Market)
    • Townhomes: 10.7% (Balanced Market)
    Detached homes are now the weakest segment, while condos and townhomes still sit within a balanced range, though momentum is softening.

What This Means for Buyers & Sellers

For Buyers:

  • Detached home buyers hold a strong position—more listings, slower sales, and price softening ahead.
  • Condo buyers benefit from increased selection and modest price dips.
  • Townhome buyers should stay alert—properties are moving quicker, but growing supply could bring more opportunities.

For Sellers:

  • Detached home sellers must price sharply to avoid prolonged market time.
  • Condo sellers face competition—proper pricing and presentation are critical.
  • Townhome sellers still see movement but should monitor demand closely.

Final Thoughts

Vancouver West is entering a more buyer-friendly phase, especially in the detached home market. The upward trend in inventory, coupled with moderating sales, hints at further price adjustments if these conditions continue.

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