Issue 4
WelcomeHomeYVR - Real estate with Katharine Reynolds
Spring Market Update March 2025
A market made for buyers is missing buyers
(The latest headline from the Greater Vancouver Realtor AssociationDirector of Economics - Andrew Lis)
Home sales registered on the MLS® in the Metro Vancouver* for the month of March were the lowest going back to 2019 for the same month, while active listings continue to their upward trend. The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,091 in March 2025, a 13.4 per cent decrease from the 2,415 sales recorded in March 2024. This was 36.8 per cent below the 10-year seasonal average (3,308).
"If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to engage — but so far, buyers have not shown up in the numbers we typically see at this time of year."
Andrew Lis, GVR director of economics and data analytics
Things have certainly shifted the past few weeks based on uncertainty down south and how that will affect the stock market, job market and potentially the economy. Sellers who’ve been holding off for several years waiting for interest rates to go down before listing have shown up in droves, inventory is at higher levels then we’ve seen in years, specifically in the detached and townhouse categories. What started off as a fairly strong spring market has taken a pause while buyers take a “wait and see” attitude. Sharply priced good properties are still selling quickly often in multiple offers , but we are also now seeing price reductions and properties selling for below asking in many situations. It will be interesting to see if this is a blip and buyers come back to the market or if the market will remain soft.
If you’re thinking of buying, now is an excellent time to take advantage of the low interest rates, high inventory and more balanced market! If you’re thinking of selling, pricing accurately is key right now. If you’re curious to know what your property would sell for in this current market please contact me, I can help!
Bank Of Canada rate cut update
The next Bank of Canada rate cut announcement is expected April 16th, with economists forecasting that it could go either way (how’s that for clarity!). Inflation ticked upwards to February 2025 to 2.6%, yet recent tariffs have stalled consumer confidence so the Bank of Canada may want to stimulate the economy. Most predict another .25% rate OR for the Bank of Canada to hold steady at 2.75%. Things have been changing so quickly this could shift again between writing this and April 16th so stay tuned!
New Listing!
Gorgeous
renovated 1 bedroom/1 bathroom in a solid landmark buildingwith a huge sunny 600 Sq Ft + private patio in the heart of Mount Pleasant!
Pets and rentals allowed
$698,000
102-330 East 7th Ave Vancouver BCContact me to view!
Staging and Design Consultations
If you’re selling your property I can assist in staging and decluttering your space as well as do a front of house refresh. If you’re buying I can assist you in making sure your current furniture will assist in placement. I’m offering this service free of charge for all of 2025!
Referral Offer for 2025
I’d really love to work with people just like you! Send me your referrals of friends, coworkers or family…if your referral results in a completed purchase or sale I'll send you a $500 gift card of your choice as an appreciation of your support. Please call me directly or send your referrals via a group text to 604-831-3616 - include a brief intro of who you're referring and what they’re looking for, thank you! I really appreciate all the referrals I've received so far!
Wishing you a safe and happy spring!
Feel free to contact me if I can help.
604-831-3616
kr@welcomehomeyvr.com
Copyright (C) 2025 welcomehomeyvr. All rights reserved.
My mailing address is: Oakwyn Realty Ltd
101-3151 Woodbine DriveNorth Vancouver BC
V7R2S4
P. 604-831-3616
F. 604-620-7970