Vancouver February Market Report

February brought cooler temperatures and a shift in the local housing market that’s worth a closer look. For those keeping an eye on trends or planning their next move, this month’s numbers reveal subtle changes that impact both buyers and sellers. From fewer sales to a wave of new listings, here’s what happened across Metro Vancouver’s property market in February 2025.

February's Housing Sales A Dip in Vancouver's Real Estate Activity

Housing sales in February dropped by nearly 12% compared to the same time last year. A total of 1,827 properties changed hands, down from 2,070 in February 2024. That number also landed well below the 10-year average for the month, signaling a quieter start to the spring season. Fewer transactions can sometimes suggest buyer hesitation or rising competition from inventory that just isn’t moving quickly.

Despite the slowdown, the shift could work in favor of buyers who’ve been watching from the sidelines. Less urgency in the market means more time to review listings and negotiate. For sellers, though, this might be the moment to revisit their pricing and presentation strategy. In a cooler real estate environment, standing out matters more than ever.

New Property Listings in February A Moderate Uptick

February saw a noticeable rise in the number of new properties entering the market. With over 5,000 new listings, there was an 11% jump compared to February last year. That’s a welcome sight for buyers who felt boxed in by limited options through late 2024. More listings usually translate to better variety—and better chances of finding the right fit.

This uptick, however, also brings fresh challenges for sellers. More listings mean more competition. With many properties sharing the same spotlight, sellers need to be strategic about pricing, staging, and timing. For buyers, this could be a rare window where choice and negotiating power intersect, making it a good time to explore available homes in Vancouver.

Active Listings Surge What It Means for Buyers and Sellers

The number of active listings jumped by more than 32% compared to February 2024, reaching over 12,700 properties on the market. That’s a big shift, and it puts the total well above the seasonal average. More active listings mean more to choose from, and that has an effect on how both buyers and sellers approach the process.

For buyers, this is a chance to browse without the pressure of a fast-moving market. Bidding wars become less common, and thoughtful decisions become possible. Sellers, on the other hand, are stepping into a more competitive landscape. To attract serious interest, listings must be sharp and priced appropriately. It’s not the time to test the waters with high expectations—pricing right is key.

Sales-to-Active Listings Ratio Gauging Market Balance

The sales-to-active listings ratio hit 14.8% in February, which places the market in balanced territory. A ratio between 12% and 20% typically means the market is neither leaning strongly in favor of buyers nor sellers. In February, detached homes posted a lower ratio at 10.7%, while townhomes and apartments hovered closer to 18%.

These numbers help explain why some parts of the market are moving more than others. Detached homes may be facing pricing pressure, while other segments remain steady. For buyers, this balance allows for measured decision-making without racing to beat the crowd. For sellers, knowing where your property type sits in this balance is key when planning your next step.

Detached Homes Price Trends and Sales Figures

Sales of detached homes dropped by nearly 15% compared to February 2024. Just 477 homes sold last month, signaling slower movement in this high-end segment. While the number of transactions dipped, the benchmark price held firm at just over $2 million—slightly higher than last year and flat compared to January.

That price stability, despite fewer sales, tells a story of continued value in detached properties. But it also hints at fewer buyers willing to jump into this price range without a strong reason. Sellers with detached homes may need to invest in prep work or renovations to meet buyer expectations and stand out in a market where choices are growing.

Condo Market Insights February's Performance

Condo sales totaled 976 units in February, a 10.6% drop from the same month last year. This softening in the market comes alongside a slight decrease in the benchmark price, which now sits at $747,500. Compared to both last year and January 2025, the numbers point to a more relaxed pace in the condo segment.

For buyers, this might be the perfect time to explore options without pressure. A slower market often gives room for negotiation, and more listings mean better odds of finding a good match. Sellers in the condo market, however, should prepare for longer listing times and make their units shine—first impressions and realistic pricing matter more than ever.

Townhouses in Focus Sales and Pricing Update

Townhouses sales reached 359 in February, down 10.9% from the same time last year. The benchmark price also saw a year-over-year dip of 1.2%, settling just above $1 million. Compared to January, prices slipped even further, showing signs that buyers may be pushing back on pricing in this segment.

Despite the drop in sales and pricing, townhouses remain a popular middle-ground option for families and first-time buyers looking for more space. The current conditions could benefit those looking to get into the market. Sellers, meanwhile, may need to temper their expectations and understand that today’s buyers are more selective and cost-conscious than they were a year ago.

Work With Paul Eviston Today to Navigate the Vancouver Market With Confidence and Make the Right Move at the Right Time

The market has its rhythms, and February’s trends prove just how important timing, insight, and local expertise really are. Whether you’re buying, selling, or simply planning ahead, having the right advisor makes all the difference. Paul Eviston brings decades of experience, deep market knowledge, and a track record of success to every transaction. Paul understands the numbers—but more importantly understands people. Ready to take the next step with someone who knows the Vancouver market inside and out? Contact us.