Homebuyers in Vancouver may finally have an opportunity to be selective as inventory accumulates and prices stabilize.
Inventory levels in Metro Vancouver reached a 10-year high in May, while home sales remained subdued, according to Greater Vancouver Realtors.
GVR reported that residential sales in the region totaled 2,228 in May 2025, an 18.5% decrease from May 2024, and a 30.5% decline below the 10-year seasonal average.
“While there are signs that sales activity might be picking up, sales in May were below the ten-year seasonal average, indicating that some buyers are still waiting or being more selective,” said Andrew Lis, GVR’s director of economics and data analytics.
Sales in 2025 so far rank among the slowest starts in the past decade, similar to trends seen in 2019 and 2020, according to Lis.
“Sales rebounded significantly in the latter half of 2020, but whether 2025 sales will follow a similar pattern remains uncertain,” he added.
A “firm lid on price escalation”
The benchmark price for Vancouver in May was $1.17 million, down 2.9% year-over-year and 0.6% compared to April.
There were 6,620 new listings in May, up 3% from May 2024 and exceeding the 10-year seasonal average by nearly 10%.
Total inventory reached 17,094 in May, a 26% surge compared to May 2024.
“With healthy inventory levels, many sellers are adjusting price expectations, giving buyers more room to negotiate and keeping prices stable in recent months,” Lis stated.
“Summer sales are typically slower than spring, but with a sluggish spring, we may see a busier summer as many delayed their purchases. The market continues to favor buyers, which is good news for those looking to buy this summer.”
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