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Metro Vancouver Real Estate Market Update: March 2025 – A Buyer’s Dream in Burnaby

Posted on April 5, 2025 by Ava Liu, your trust Burnaby Realtor

Spring is here, and the Metro Vancouver real estate market is serving up a golden opportunity for homebuyers—especially in Burnaby! The latest March 2025 report from Greater Vancouver REALTORS® (GVR) shows a slow market with fewer sales, more homes for sale, and softening prices. As your local Burnaby real estate expert, I’m breaking it down for you and sharing why now might be the perfect time to buy a home in Vancouver or Burnaby. Let’s dive in!

A Quiet Market with Big Opportunities

Home sales in Metro Vancouver hit just 2,091 in March 2025—the lowest March total since 2019. That’s a 13.4% drop from 2,415 sales in March 2024 and 36.8% below the 10-year average of 3,308. What does this mean for you? Less competition! Fewer buyers are jumping in, giving you more room to find the right home.

On the flip side, the market is flush with options. Active listings soared to 14,546—up 37.9% from 10,552 last year and the highest in nearly a decade. With 6,455 new homes hitting the MLS® (a 29% jump from 5,002 in 2024), there’s never been a better time to explore Metro Vancouver homes for sale.

Prices Are Softening—Here’s the Breakdown

The average home price in Metro Vancouver dipped to $1,190,900, down 0.6% from March 2024. Here’s how it shakes out by property type:

• Detached Homes: $2,034,400 (up 0.8% from 2024)
• Apartments: $767,300 (down 0.9%)
• Townhouses: $1,113,100 (down 0.8%)

In Burnaby, prices are even more buyer-friendly:

• Burnaby East: $1,137,300 (down 2.5%)
• Burnaby North: $1,009,600 (down 2.0%)
• Burnaby South: $1,124,100 (down 2.1%)

With prices easing and mortgage rates at their lowest in years, the Burnaby real estate market is ripe for smart buyers like you.

Buyer’s Market or Seller’s Edge? It Depends!

The sales-to-active listings ratio—a key market indicator—sits at 14.9% overall, signaling a balanced market. But dig deeper:

• Detached Homes: 10.3% (a buyer’s market—great deals await!)
• Townhouses: 21.5% (nearing a seller’s market due to only 2,200 listings)
• Apartments: 16.2% (balanced)

Historically, prices drop when this ratio stays below 12% and rise above 20%. Right now, detached homes favor buyers, while townhouses are heating up—perfect if you’re eyeing a Burnaby townhouse or a spacious family home.

What the Experts Say

Andrew Lis, GVR’s data guru, sums it up: “Buyers haven’t seen conditions this favorable in years—eased prices, low rates, and high inventory.” Yet, buyer turnout is low, much like early 2023 when sales started slow but surged in spring and summer. Translation? The clock’s ticking to snag a deal before the market picks up!

Why Burnaby Stands Out

Burnaby’s blend of affordability, transit access (hello, SkyTrain!), and top schools makes it a hotspot in this buyer-friendly market. Whether you’re after a cozy condo in Burnaby North or a detached gem in Burnaby South, now’s your chance to score big.

Ready to Buy a Home in Vancouver or Burnaby?

The Metro Vancouver housing market is handing buyers a rare win—more homes, lower prices, and less competition. Don’t wait for the spring rush to kick in! As your Burnaby Realtor, I’m here to guide you through every step—finding the perfect property, negotiating the best price, and closing the deal.

Contact me today to explore the latest Burnaby homes for sale. Let’s turn this buyer’s market into your homeownership dream!

Looking for more? Visit https://dreamhomevancouver.com/for exclusive listings and market tips!