January 2025 Market Update & December Statistics
The Winners of Vancouver’s Real Estate Market
1. Burnaby Detached Homes
Burnaby’s detached homes saw the largest price increase, surging +8.3% to $1.95 million. This market is thriving due to its relative affordability compared to Vancouver proper and its excellent connectivity.
Why It’s Winning:
- Buyers are drawn to Burnaby’s value compared to Vancouver West.
- Families and upsizers are competing for limited inventory.
2. Townhomes in Vancouver West and East
Townhomes are the clear standout in both Vancouver West and East:
- Vancouver West: Prices rose +10%, hitting $1.52 million.
- Vancouver East: Up +7.2% to $1.15 million.
Why Townhomes Are Hot:
- They hit the "Goldilocks Zone" for buyers—more space than condos but more affordable than detached homes.
- Walkable neighbourhoods and family-friendly amenities make them highly desirable.
3. Port Moody Condos
In Port Moody, condos saw a solid +3.7% increase, reaching $752,100. The city’s quiet but steady demand has made it a strong performer in an otherwise mixed condo market.
Why It’s Winning:
- Proximity to SkyTrain lines and a peaceful suburban feel.
- Port Moody offers more value compared to Vancouver’s core areas.
The Losers of Vancouver’s Real Estate Market
1. Condos in Vancouver East
While townhomes thrived, condos in Vancouver East struggled, with prices dipping -0.5% to $690,200.
Why It’s Struggling:
- Oversupply in the condo market is pushing prices down.
- Buyers are prioritizing townhomes for their added space and lifestyle benefits.
2. North Vancouver Detached Homes
Despite its reputation as a desirable area, North Vancouver saw detached home prices drop -2.5% to $2.13 million.
Why It’s Falling:
- Higher prices make it less competitive compared to Burnaby or Coquitlam.
- Inventory levels are increasing, giving buyers more leverage.
3. Pre-Sale Condo Investments
Pre-sale condo investors are facing significant challenges due to rising mortgage payments and an influx of new rental inventory.
Why It’s Risky:
- Rental supply in British Columbia is growing at 14% of the existing stock, creating downward pressure on rents.
- Investors who purchased during peak market conditions are now seeing diminished returns.
Key Market Indicators to Watch
Sales-to-Active Listings Ratio:
- Overall: 16.8% (balanced market).
- Detached Homes: 12.1% (leaning toward buyers).
- Townhomes: 23.6% (firm seller’s market).
Days on Market:
- Detached Homes: 58 days (slower moving).
- Townhomes: 44 days (quicker sales).
- Condos: 41 days (still active but mixed performance).
These metrics reveal where opportunities and challenges lie. For example, if you’re selling a townhome, act now while demand remains strong.
2025 Predictions: Where Is the Market Headed?
- Buyers: Detached homes in areas like North Vancouver and Coquitlam offer opportunities for negotiation. Townhomes, however, are highly competitive—be prepared to act fast.
- Sellers: If you’re selling a townhome or condo in Port Moody, this is your moment. Leverage the current demand to maximize your sale price.
- Investors: Tread carefully in the condo market, especially with pre-sale units. Focus on areas with stable or growing rental demand to mitigate risk.
What Does This Mean for You?
The 2025 real estate market is dynamic, with clear winners and losers. Whether you’re a buyer, seller, or investor, the key to success lies in understanding the data, identifying trends, and acting strategically.
For even more insights, check out my full video breakdown embedded below. Don’t forget to explore my area-specific statistics and local news stories for deeper context.
Final Thoughts
Vancouver’s housing market is no longer a one-size-fits-all scenario. The divide between thriving and struggling property types and neighbourhoods means that your strategy needs to adapt to this new reality.
Have questions about buying, selling, or investing in 2025? Sent me an email to [email protected] or text 604-313-9805—I’d love to help you navigate the market.
