🔍 May 2025 Market Highlights (Dexter Realty Report)

🎯 Key Trends:

• Buyer activity is picking up – more offers are being made, some sticking, others not.

• Sales are up month-over-month in 2025, but still below 10-year averages.

• Inventory continues to climb but at a slowing rate.

• Bank of Canada held rates steady, citing inflation and moderate GDP growth.

🏘️ Market Mood:
Buyers are testing the waters – think “spaghetti against the wall.” They're sending offers out to see which sellers are motivated. With inventory high and prices softening in some areas, it's a buyer’s market in much of Greater Vancouver.

📊 By the Numbers – Greater Vancouver:

• Sales: 2,228 homes sold (⬆️ from 2,163 in April)

• Active Listings: 17,094 (⬆️ 26% year-over-year)

• New Listings: 6,728 (⬇️ 3% from April, ⬆️ 4% year-over-year)

• Sales-to-Listing Ratio: 33% (steady buyer’s market)

• Home Price Index: ⬇️ 0.6% month-over-month, ⬇️ 2.9% year-over-year

• Months of Supply: 8 (up from 7 – buyer’s market threshold)

🏡 Local Snapshots:

• Vancouver West: Sales down 4% MoM; HPI ⬇️ 1.0%

• Vancouver East: Sales flat MoM; HPI ⬇️ 0.5%

• North Van: HPI ⬆️ 1.6% MoM – one of few areas showing price gains

• West Van: Sales nearly doubled from April but still below historic norms

• Richmond & Burnaby: High inventory, softer prices – HPI ⬇️ 1.2% and 3.1% MoM respectively

📦 Product Segments:

• Detached: Still sluggish, ⬇️ 22% YoY in GV sales

• Townhomes: Down 10% YoY, inventory ⬆️ 29%

• Condos: Slowing pace, ⬇️ 18% YoY; saw a 25% discount move units in Surrey

💬 Commentary:
Despite economic uncertainty, buyer interest is growing. We’re not back to the frenzy of past springs, but the data shows consistent MoM improvement. The market is fragmented — some neighbourhoods are moving, others are still quiet.

The high inventory and price sensitivity create strong opportunities for buyers, especially as many sellers adjust pricing or cycle listings. This may be one of the best windows for buyers in years.