Home sales remained “muted” last month in the Metro Vancouver region, according to the professional realtors association.
Greater Vancouver Realtors (GVR) is a professional association of 15,000 realtors in 17 areas in southwest B.C., including Metro Vancouver and its environs and adjacent locations including the Sunshine Coast, Squamish and Whistler. The organization releases monthly real estate statistics.
“While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics in a press release. “On a year-to-date basis, sales in 2025 rank among the slowest to start to the year in the past decade, closely mirroring the trends seen in 2019 and 2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but whether sales in 2025 might follow a similar pattern remains the million-dollar question.”
59 homes sold on the Coast in May
The benchmark price for a residential property on the Sunshine Coast last month was $826,600 that’s up four per cent from April, but down 3.4 per cent from one year ago. The Coast’s price is the second cheapest of the benchmark prices in the GVR region, with only New Westminster coming in cheaper at $802,900 in May.
The composite benchmark price for all residential properties in the GVR region is $1,177,100, 2.9 per cent lower than a year ago.
The benchmark price for an apartment on the Coast was $512,400 last month –– up 103.6 per cent from 10 years ago, and up 27.3 per cent from five years ago.
Across the GVR region, sales in May were 30.5 per cent below the 10-year seasonal average, said the organization.
However, there were 59 homes sold on the Coast in May, which is just one fewer than the same month last year. There were 183 listings in May.
In the first five months of the year, 234 residential properties were sold on the Coast (the same number as in 2024) and a total of 786 residential properties were listed for sale (up from 678 listings in the same period the year before).
“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price expectations, which has provided buyers more negotiating room and kept a firm lid on price escalation over the past few months,” Lis said. “From a seasonal perspective, sales in the summer months are typically quieter than the spring, but with such an unusually slow spring, we may have an unusually busy summer with so many having delayed their purchasing decisions. Either way, the market continues tilting in favour of buyers, which bodes well for anyone looking to make a purchase this summer.”
