News Summary

The Vancouver real estate market is undergoing a notable shift as more sellers enter the market, driving home sales upward in January 2025. Greater Vancouver Realtors reported that 1,552 homes were sold last month, marking an 8.8% increase compared to January 2024. Despite this rise, sales remain 11.3% below the 10-year seasonal average. The number of newly listed properties in the region surged by 46.9% from January 2024, with 5,566 new listings recorded. This shift in market dynamics is contributing to a balanced market, limiting price fluctuations. The composite benchmark price in January was $1,173,000, a slight increase from the previous year. The increase in seller activity, particularly in the apartment home category, which saw a 13.4% rise in sales, is a key factor in this shift. The ongoing developments in U.S.-Canada trade relations, including potential tariffs, could impact the housing market in the future.