Metro Vancouver Real Estate Update – February 2025: Market Balance & Opportunities in the Tri-Cities

The Metro Vancouver real estate market is showing signs of balance as we move further into 2025. With new listings increasing and sales stabilizing, buyers and sellers alike are experiencing market conditions that provide more options and strategic opportunities. Whether you're looking to buy, sell, or invest, understanding these trends is key to making informed decisions. Let’s dive into the numbers and what they mean for you, with a special focus on the Tri-Cities market!

February 2025 Market Overview

🔹 Sales Activity: Residential sales in Metro Vancouver totaled 1,827, an 11.7% decrease from February 2024 and 28.9% below the 10-year seasonal average. While sales have slowed, this allows buyers more negotiating power in many areas.

🔹 New Listings: February saw 5,057 new listings, marking a 10.9% increase from last year. This increase gives buyers a larger selection of properties to choose from, easing competition.

🔹 Total Inventory: There are now 12,744 homes listed for sale in Metro Vancouver, a 32.3% increase from last year and 36.4% above the 10-year seasonal average. This is the largest inventory seen in years, providing excellent opportunities for homebuyers.

🔹 Sales-to-Active Listings Ratio: Currently at 14.8%, the ratio suggests a balanced market, meaning buyers and sellers are on relatively equal footing.

• Detached Homes: 10.7%

• Attached Homes: 18.5%

• Apartments: 16.8%

🔹 Home Prices: The MLS® Home Price Index benchmark price for all residential properties is $1,169,100, reflecting a 1.1% decrease from February 2024 and a 0.3% decrease from January 2025.

💰 Detached Homes: $2,006,100 (⬆️ 1.8% YoY)
🏢 Apartments: $747,500 (⬇️ 2.8% YoY)
🏠 Townhomes: $1,087,100 (⬇️ 1.2% YoY)

With a potential Bank of Canada rate cut on the horizon, borrowing conditions could improve, bringing even more buyers into the market. If you're thinking of making a move, now is the time to strategize!

Spotlight on the Tri-Cities: What’s Happening in Coquitlam, Port Coquitlam & Port Moody?

As a Tri-Cities real estate specialist, I’m seeing exciting opportunities across these communities. Here’s what you need to know:

🔹 Coquitlam: Home to a mix of urban convenience and natural beauty, Coquitlam’s real estate market is diverse, with high demand for townhomes and condos near transit hubs like the Evergreen Line. Detached homes remain strong in areas like Burke Mountain and Westwood Plateau.

🔹 Port Coquitlam: With its family-friendly vibe, Port Coquitlam continues to attract buyers looking for more space at a relatively affordable price point. Detached homes and townhouses are particularly popular here.

🔹 Port Moody: Known for its stunning waterfront, vibrant brewery scene, and excellent schools, Port Moody remains a hot spot for buyers looking for a mix of lifestyle and convenience. The demand for condos near Moody Centre and townhomes in Heritage Mountain remains strong.

If you're curious about the value of your home or looking to buy in one of these growing communities, let's chat!

📢 What Does This Mean for You?

✅ For Buyers: More inventory means less competition and better negotiating power. If you're looking to enter the market, now is the time to explore your options.

✅ For Sellers: While prices are stable, the upcoming spring market could bring more demand. Strategic pricing and strong marketing are key to selling successfully in this balanced market.

📍 Whether you're buying, selling, or investing, I’m here to help you navigate this ever-changing market with expert advice tailored to your needs.

📞 Let’s connect today!
✨ Tara Kennedy
🏡 REALTOR®, ABR, RENE, SRS
📞 236-992-8989
🌐 TaraKennedy.ca
📧 TaraKennedySells@gmail.com

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