Is now a good time to buy a Vancouver apartment? Feb 2025
Condo apartment prices have been volatile since May 2022; the Benchmark house price is still 4.1% below the $780 thousand peak.
Early spring is typically a “tighter” market. There are fewer condo apartments for sale in Vancouver, and more homebuyers are looking, which puts upward pressure on prices and disadvantages buyers.
Then, by late spring and summer, there will be fewer active buyers, and active listings will tend to accumulate, easing the upward pressure on prices and favouring buyers.
The condo apartment market is balanced, and buyers and sellers have equal negotiating power. Compared to a year ago, inventory levels have improved in favour of buyers. Months of inventory increased from 5 to 6.1 year-over-year. Up 22 percent.
2025 is a better time to buy than a year ago. Buyers can expect fewer bidding wars.
Areas with more than 8 months of inventory include Central Surrey (11), North Surrey (10), Vancouver West & Downtown (9), West Vancouver (9) and Surrey South & White Rock (8).
The number of Metro Vancouver condominium apartments purchased in January was similar to last year, but the number of apartment for sale has risen. That’s why the months of inventory have increased.
