In February, Metro Vancouver experiences an increase in new listings, a decrease in sales, and stable prices.

The Metro Vancouver housing market is being kept in check by a more moderate growth in listings, according to the latest data from the Greater Vancouver Realtors (GVR).

“Following the surge of new listings in January, home sales and new listings in February were closer to historical averages, leading to balanced market conditions,” said Andrew Lis, GVR’s director of economics and data analytics.

Residential sales in the region totaled 1,827 in February, marking an 11.7% decline from the 2,070 sales recorded in February 2024. This figure also sits 28.9% below the 10-year seasonal average of 2,571 sales.

Listings up while sales lag

While home sales dipped, the number of newly listed properties remains high, with 5,057 new listings in February—an increase of 10.9% over the same month last year, and 11.6% rise above the 10-year seasonal average.

The total number of active listings in Metro Vancouver now sits at 12,744, a 32.3% increase from February 2024, and a 36.4% jump above the 10-year seasonal average.

Supply keeps prices stable

Across all property types, the sales-to-active listings ratio for February was 14.8%—with detached homes at 10.7%, attached homes at 18.5%, and apartments at 16.8%.

The average house price in Metro Vancouver sits at $1,169,100, reflecting a 1.1% decrease year-over-year and a 0.3% dip compared to January 2025.

Breakdown by property type

• Detached homes:

  • Sales: 477 (↓ 14.8% from February 2024)
  • Benchmark Price: $2,006,100 (↑ 1.8% YoY, unchanged MoM)

• Apartments:

  • Sales: 976 (↓ 10.6% from February 2024)
  • Benchmark Price: $747,500 (↓ 2.8% YoY, ↓ 0.1% MoM)

• Attached homes (townhouses):

  • Sales: 359 (↓ 10.9% from February 2024)
  • Benchmark Price: $1,087,100 (↓ 1.2% YoY, ↓ 1.7% MoM)

Looking ahead to spring

“Balanced market conditions typically bring a flatter price trajectory, and we’ve seen prices across all segments remain in a holding pattern for the past few months,” Lis notes.

“But with the active spring season just around the corner, it will be interesting to see whether buyers take advantage of some of the most favorable market conditions seen in years and whether sellers change their willingness to bring their properties to the market.”