A Spring Market Full of Contradictions 🌸
This spring, the market is serving up a rare mix: prices are trending slightly down, inventory has surged to the highest level since July 2013, and borrowing costs are at their lowest in years. Yet despite all these buyer-friendly conditions, sales activity remains unexpectedly quiet.
Sales Are Soft — What’s Causing Buyer Hesitation? 🤔
Home sales in April dropped 24% compared to April 2024, and were nearly 30% below the 10-year seasonal average. Meanwhile, inventory has soared to over 16,000 active listings — giving buyers more selection than they’ve had in over a decade.
There’s no single reason, but economic uncertainty is playing a big role. Between tense global trade policy shifts and the recent federal election here at home, many buyers are choosing to wait and see.
The MLS® benchmark price for all residential homes across Greater Vancouver is now $1,184,500 — nearly 2% lower than this time last year. Among home types, detached properties saw the biggest decline in sales, followed by townhomes and condos.
What This Means for Buyers and Sellers 🏡
Buyers: You’re in a strong position right now. With more inventory, stable prices, and low interest rates, you’ve got room to negotiate and time to make the right move.
Sellers: Pricing and presentation matter more than ever. In this balanced market, working with a strategy-driven agent can make all the difference.
Let’s Chat About Your Plans 📲
Whether you're thinking of upsizing, downsizing, or just keeping an eye on the market, I’d love to help you navigate your next move with confidence.
Thanks for reading — and see you in the next market update!
