Greater Vancouver real estate agents said residential sales in the area totaled 2,228, down 18.5% from the same period last year. Sales level is 30.5% lower, 30.5% lower.
“While emerging signs that sales activity may be turning, May’s sales were below the seasonal 10-year average, suggesting some buyers are still off-the-counter or particularly selective,” said Andrew Lis, director of economics and data analysis at the board of directors.
There were 6,620 newly listed properties on the market in May, up 3.9% from May 2024, but still 9.3% higher than the seasonal average for the 10-year that month.
Economic uncertainty and threats to global trade have deteriorated consumer confidence in recent months, with many potential buyers sticking to major financial decisions – driving the average time real estate spends on the market before selling.
The report shows that in May, there were average days of real estate gains in all categories of markets. Last month, a detached home spent an average of 32 days on the market, compared with 26 days a year ago.
The positive list grew 25.7% year-on-year to 17,094.
These are the healthiest inventory levels the market has seen over the years, making it more favorable for buyers, Less said.
“Many sellers are adjusting price expectations, which provides buyers with more negotiation rooms and has maintained a solid block of price increases over the past few months,” he said in a press release.
The comprehensive benchmark price for May was $1,177,100, 2.9% lower than the same period last year and 0.6% lower than April.
LIS added that sales may increase in summer.
“Seasonality perspective, summer sales are usually quieter than spring, but because of the unusually slow spring, we can have an unusually busy summer, so many people delay their purchase decisions,” he said.
This report by Canadian media was first released on June 3, 2025.
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Last modified: June 3, 2025
