Vancouver Real Estate Market Update – April 2025

by Jessica Yu

As we step into April 2025, the Vancouver real estate market is showing signs of resilience and cautious optimism. After years of volatility driven by economic uncertainty and interest rate hikes, we're now witnessing a more balanced playing field for buyers and sellers alike.

Whether you're a first-time homebuyer, seasoned investor, or simply tracking the market, here’s what you need to know.

Market Highlights – April 2025

Based on the Real Estate Board of Greater Vancouver (REBGV) and CREA data, the following trends are defining the market this month:

Sales are climbing compared to April 2024, with both detached homes and townhomes seeing increased activity.
Benchmark home prices are stabilizing, with slight month-over-month increases in high-demand neighbourhoods.
Inventory has improved, offering more choices for buyers and moderating price growth.

You can view the latest REBGV Infographic Summary for a visual snapshot of current trends in Greater Vancouver.

Interest Rates: Stability Brings Confidence

One of the driving forces behind the market's current health is the stabilization of interest rates. After aggressive hikes in 2022 and 2023, the Bank of Canada has held steady in 2025, giving buyers a clearer financial path.

With this stability, many mortgage lenders are offering competitive fixed and variable rate options, spurring renewed interest from first-time buyers and upsizers alike.

For a breakdown of how rates and affordability are shaping the market, check out this Vancouver Housing Market Outlook by Nesto.

Inventory and Housing Supply Trends

The supply of homes is gradually increasing, but demand still outpaces inventory in many areas, particularly in single-family and multi-generational homes. The condo market, however, is seeing more balance with a steady influx of new listings.

Despite moderate new construction activity, zoning constraints and development timelines remain barriers to rapid supply growth. According to Mortgage Sandbox’s forecast, Vancouver’s housing market will remain under long-term supply pressure, especially if population growth continues at current levels.

Where Are Prices Headed?

According to the latest update from RE/MAX Canada, Vancouver home prices are expected to show moderate appreciation through the second half of 2025, particularly in family-friendly neighborhoods like North Vancouver, Burnaby, and Richmond.

Factors supporting this price trend include:

Continued immigration and population growth
Stable lending conditions
Limited housing starts in core areas

Realtor Insights and Buyer Activity

Members of the Greater Vancouver REALTORS® Association report growing engagement from buyers across all segments—particularly those who had paused during the peak interest rate era. Open houses are seeing more foot traffic, and there’s a notable increase in pre-sale inquiries in emerging neighborhoods like Surrey City Centre and Brentwood.