Great Vancouver Area

Apr 2025 Update

GVA

4/29/20251 min read

The market displayed a split personality, with detached homes and apartments showing pockets of stability amid broader annual declines.

Overall Average: $1,239,418 (-5.9% year-over-year)
Detached Homes: $2,140,333 (+0.7% month-over-month, -3.1% year-over-year)
Attached Homes: $1,229,656 (-0.2% month-over-month, **-4.0% year-over-year**)
Apartments: $806,050 (+2.7% month-over-month, -2.0% year-over-year)

Metro Vancouver Composite: $1,190,900 (-0.6% year-over-year, **+0.5% month-over-month**)
- Detached Homes: $2,034,400 (+0.8% year-over-year, +0.4% month-over-month)
- Attached Homes: $1,087,100 (-0.8% year-over-year, monthly data not provided)
- Apartments: $767,300 (+1.0% month-over-month, -2.8% year-over-year)

Detached Homes Defy Gravity: Despite annual average price declines, the benchmark price for detached homes rose 0.8% year-over-year, signaling enduring demand for spacious properties in prime locations.
Apartment Rebound: A 2.7% monthly surge in average apartment prices—paired with a 1.0% benchmark increase—suggests renewed interest in affordability, though long-term declines (-2.8% annually) hint at lingering oversupply concerns.
Attached Homes Lag: Attached properties struggled, with both average (-4.0%) and benchmark (-0.8%) prices softening annually, reflecting weaker demand for mid-tier housing.
Market Dichotomy: The disconnect between sharp annual average price drops (-5.9% overall) and modest benchmark declines (-0.6%) implies high-end property sales are slowing disproportionately, skewing averages downward.

Buyers: Apartments and detached homes offer relative stability, with short-term gains suggesting strategic entry points.
Sellers: Detached homes remain a seller’s stronghold, while attached-home owners may need to adjust pricing expectations amid softening demand.