West Vancouver Real Estate Market Update – February 2025

Buyers’ Market Deepens Across All Property Types

February 2025 confirms West Vancouver’s market is firmly in buyer’s territory, with detached homes, condos, and townhomes all experiencing slowing sales, rising inventory, or both. Pricing is holding in some segments but softening in others, particularly condos. The market is rewarding buyers with time and choice.

Let’s review the key numbers and trends shaping West Vancouver’s market this month.

Key Market Stats for February 2025

Detached Homes

  • Total Active Listings: 436 (+4.6% YoY)
  • Sales: 29 (-27.5% YoY)
  • Days on Market Average: 55 (+17.0% YoY)
  • MLS® HPI Benchmark Price: $3,127,700 (+1.0% YoY)

Condos

  • Total Active Listings: 98 (-2.0% YoY)
  • Sales: 7 (-41.7% YoY)
  • Days on Market Average: 35 (+2.9% YoY)
  • MLS® HPI Benchmark Price: $1,215,800 (-11.3% YoY)

Townhomes

  • Total Active Listings: 28 (+86.7% YoY)
  • Sales: 1 (-50.0% YoY)
  • Days on Market Average: 1 (-96.3% YoY, likely skewed due to very low sales)
  • MLS® HPI Benchmark Price: No data reported

Market Trends & Expert Insights

  • Detached Homes: Sales Slide, Prices Hold Detached sales dropped 27.5% YoY even as inventory rose modestly. Days on market increased 17%, reflecting slower absorption. Still, the MLS® HPI Benchmark Price ticked up 1.0% YoY, signaling that premium properties may be holding value even as the market cools.
  • Condos: Sales Plunge, Prices Correct Condo sales fell 41.7% YoY, while inventory stayed stable. Benchmark prices dropped a significant 11.3% YoY, reflecting shifting buyer sentiment. Properties are lingering 35 days on market—buyers are negotiating hard in this segment.
  • Townhomes: Minimal Activity, Oversupply Looms Townhomes saw only 1 sale this month as inventory nearly doubled. With such low sales, the sales-to-active ratio plummeted. No updated benchmark price is reported, reinforcing that this segment is seeing limited movement and is vulnerable to further softening.
  • Sales-to-Active Ratio Insights:
    • Detached Homes: 6.7% (Buyer’s Market)
    • Condos: 7.1% (Buyer’s Market)
    • Townhomes: 3.6% (Strong Buyer’s Market)

What This Means for Buyers & Sellers

For Buyers:

  • Detached buyers have strong negotiating power—plenty of choice and slower seller response times.
  • Condo buyers are firmly in control, with pricing already correcting.
  • Townhome buyers have leverage as sellers struggle to find buyers.

For Sellers:

  • Detached sellers must price sharply and adjust expectations—longer time on market is the new norm.
  • Condo sellers face steep price competition—proper pricing is critical.
  • Townhome sellers may need to hold or price aggressively to move inventory in a soft market.

Final Thoughts

West Vancouver’s February market is a clear buyer’s market across all property types. Detached homes are holding price better, but both condos and townhomes show rising inventory and price erosion. The coming months will test seller resilience and pricing strategies.

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