Welcome to our January 2025 Real Estate Market Update! In this month’s update, we discuss key trends in Greater Vancouver’s real estate market, share insights for buyers and sellers, and much more. Check out the video below for all the details.
We hope the video gave you a solid overview of this month’s market trends! There’s a lot happening in the real estate world, and with demand picking up, now’s the time to stay informed about the opportunities in your area.
Below, we’ve summarized some of the key highlights from December 2024 to give you an even clearer picture of what’s driving the market right now.
Market Overview
- Residential Sales: December 2024 closed with 1,765 residential sales in Metro Vancouver, a 31.2% increase from December 2023. Despite this, sales were 14.9% below the 10-year average, indicating room for growth in 2025.
- Inventory Levels: Active listings totaled 10,948, a 24.4% increase compared to December 2023. This aligns with stronger market momentum as we enter 2025.
Current Price Trends
- Detached Homes: The benchmark price is $1,997,000, reflecting a 2% year-over-year increase. Sales in this segment rose 31.4% from the previous December.
- Townhomes: The benchmark price is $1,114,600, up 3.4% year-over-year. This segment saw a significant 55.9% increase in sales.
- Apartments: The benchmark price stands at $749,900, showing a slight 0.1% decrease year-over-year. Sales increased by 23.9% compared to December 2023
Contact Us
If you have any questions about the market or are thinking about buying or selling a home, we’d love to help! Our team specializes in real estate across the Lower Mainland and can provide expert advice tailored to your unique needs.
📧 Forrest Missar: forrest@findyourabode.ca
📞 Phone: 604-725-0523
📧 Jon Marshall: jon@findyourabode.ca
📞 Phone: 778-899-0702
🌐 Website: www.findyourabode.ca
Feel free to reach out anytime—we’re here to guide you every step of the way!
Ready to find the perfect home in Coquitlam or Greater Vancouver?