Is now a good time to buy a Vancouver detached house? Feb 2025
Prices have been volatile since April 2022; the Benchmark house price is still 4.6% below the $2.1 million peak.
Early spring is typically a “tighter” market. There are fewer detached houses for sale in Vancouver, and more homebuyers are looking, which puts upward pressure on prices and disadvantages buyers.
Then, by late spring and summer, there will be fewer active buyers, and active listings will tend to accumulate, easing the upward pressure on prices and favouring buyers.
The detached house market is a buyer's market, and buyers have the upper hand in negotiations. As well as compared to a year ago. Inventory levels have improved in favour of buyers. Months of inventory increased from 8.4 to 10.8 year-over-year. Up 30 percent.
2025 is a better time to buy than a year ago. Buyers can expect very few bidding wars.
Areas with more than 10 months of inventory include New Westminster (30), Westside Vancouver (25), Squamish (15), East Vancouver (15), Central Surrey (14), North Surrey (14), and Coquitlam (11).
The number of Metro Vancouver detached houses purchased in January was similar to last year, but the number of houses for sale has risen. That’s why the months of inventory have increased.
