May 2025 presented a dynamic shift in Metro Vancouver's real estate landscape. According to the latest statistics from the Greater Vancouver REALTORS® (GVR), inventory levels have surged to a ten-year high, while home sales have experienced a notable decline.

📉 Sales Activity Slows Amid Growing Inventory

In May 2025, residential sales totaled 2,228, marking an 18.5% decrease from May 2024 and positioning sales 30.5% below the 10-year seasonal average of 3,206. This trend suggests that buyers are exercising caution, possibly due to economic uncertainties or expectations of further price adjustments. 

Andrew Lis, GVR’s director of economics and data analytics, noted, “While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective.” 

🏘️ Inventory Reaches Decade High

The number of properties listed for sale reached 17,094 in May 2025, a 25.7% increase compared to May 2024 and 45.9% above the 10-year seasonal average of 11,718. This influx provides buyers with a broader selection and has contributed to a more balanced market. 

📊 Sales-to-Active Listings Ratio Indicates Balanced Conditions

The sales-to-active listings ratio for May 2025 stands at 13.4%, with detached homes at 10.2%, attached homes at 17.4%, and apartments at 14.7%. These figures suggest a balanced market, where neither buyers nor sellers have a distinct advantage. 

💰 Home Prices Experience Modest Declines

The MLS® Home Price Index composite benchmark price for all residential properties is currently $1,177,100, reflecting a 2.9% decrease from May 2024 and a 0.6% decrease compared to April 2025. 

• Detached Homes: Sales reached 654, a 22.7% decrease from May 2024. The benchmark price is $1,997,400, down 3.2% year-over-year.

• Apartments: Sales totaled 1,087, an 18.8% decrease from May 2024. The benchmark price is $757,300, down 2.4% year-over-year.

• Attached Homes: Sales were 469, a 10.3% decrease from May 2024. The benchmark price is $1,106,800, down 3.4% year-over-year.

🔍 Market Outlook

With increased inventory and moderated prices, the market presents opportunities for buyers. However, the cautious approach observed suggests that many are awaiting further developments. As the summer months approach, traditionally a quieter period, the market's trajectory will depend on various factors, including economic indicators and buyer sentiment.

For more detailed statistics and information, refer to the GVR Residential Market Report – May 2025.

Note: Areas covered by Greater Vancouver REALTORS® include Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

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