February 2025 Vancouver Housing Update
As we step into the new year, the real estate market is already keeping us on our toes. From fluctuating interest rates to shifting price trends, here’s what you need to know about the current landscape.
New tariffs are stirring the pot, adding a dash of uncertainty to an already unpredictable market. Interest rate projections? All over the place—like trying to predict the weather in Vancouver. On top of that, 60% of mortgages are set to renew within the next two years. Translation: many homeowners are crossing their fingers for lower rates.
Price Movements
Prices are playing a game of seesaw. most notably, North Vancouver townhomes decided to climb 4.4% Meanwhile, Vancouver townhomes and condos took a slight dip, and detached homes got a boost in price as well as entry level detached homes continue to creep higher in price. Overall we have stayed fairly flat since the peak in spring of 2022.
Listing Activity
New listings have spiked, as sellers try to beat the spring rush. Much more than January 2023 & 2024 (see below). Considering listing your property? Now might be your moment to shine before the market gets crowded. Many sellers believe that spring is the optimal season to list their homes. However, recent market fluctuations have complicated this timing. In the past few years, there has been an oversaturation of sellers in the spring, resulting in an abundance of options available to buyers.
Market Dynamics
Vancouver is officially in a buyer's market with a sales-to-active listings ratio of 0.11. North Vancouver, however, is holding strong in seller's market territory at 0.26. In other words, if buying in Vancouver, you will likely have more options & flexibility on price and terms.
Final Thoughts
In an ever-changing market, having experienced professionals by your side can make all the difference. You need expert advice to navigate these shifts, so feel free reach out to us. As top 1% Realtors in Greater Vancouver, we have the knowledge and insights to help you make informed decisions with confidence.
If you’re thinking of making a move in 2025 feel free to reach out to me or Steve Saretsky.
We’re proud to say we helped sell 78 homes last year and happy to help you too!
Feel free to reach out if you want to connect with me! 778-951-5853 LUKE@SARETSKYGROUP.COM
^ Book a call with me to discuss your options here ^
Luke Annunziello | Vancouver Realtor
About Luke
Luke is a real estate professional with a distinguished career as a realtor since 2019, specializing in the Greater Vancouver market. His expertise extends beyond traditional real estate services, as he possesses a comprehensive understanding of property renovations, accumulated over a period of seven years. Clients appreciate Luke for his friendly nature and ability to establish rapport, making complex transactions more accessible.
Luke is a part of the esteemed Saretsky group which is part of the top 1% of all realtors in Vancouver. This affiliation with the Saretsky group translates into a range of benefits for his clients. From market expertise and extensive networks to enhanced marketing capabilities and exclusive opportunities, Luke can provide a superior level of service and results for those seeking assistance in the competitive Vancouver real estate market.
When not doing real estate transactions you can find him playing hockey, snowboarding on the mountains or spending time with his wife and daughter. Whether navigating the dynamic Vancouver market or incorporating renovation insights into property dealings, Luke stands as a reliable and professional ally, ensuring a seamless and positive experience for his clientele.
Whether you're looking to buy or sell a property in North Vancouver or elsewhere in Vancouver, Luke is the agent you can trust to guide you through the process and achieve your goals.
