Residential gross sales within the area totalled 2,228 final month, an 18.5% drop from the identical month a 12 months earlier, Larger Vancouver Realtors mentioned. Gross sales ranges are 30.5% beneath the 10-year seasonal common.

“Whereas there are rising indicators that gross sales exercise may be turning a nook, gross sales in Could had been beneath the 10-year seasonal common, which means that some consumers are nonetheless sitting on the sidelines or are being particularly selective,” mentioned Andrew Lis, the board’s director of economics and information analytics. 

There have been 6,620 newly listed properties in the marketplace in Could, a 3.9% enhance from Could 2024, however nonetheless 9.3% above the 10-year seasonal common for the month.

Financial uncertainty and threats to world commerce has soured shopper confidence in latest months, with many potential consumers holding again on main monetary choices — pushing up the common time a property spends in the marketplace earlier than it’s offered.

The report confirmed common days a property was in the marketplace rose throughout all classes in Could. A indifferent house spent a mean of 32 days in the marketplace final month, in contrast with 26 days in the identical month final 12 months, for instance. 

Whole energetic listings rose 25.7% year-over-year to 17,094.

Lis mentioned these have been a few of the healthiest ranges of stock the market has seen in years, making it extra beneficial for consumers.

“Many sellers are adjusting value expectations, which has offered consumers extra negotiating room and stored a agency lid on value escalation over the previous few months,” he mentioned in a launch.

The composite benchmark value in Could was $1,177,100, down 2.9% from a 12 months earlier and 0.6% decrease than April.

Lis added gross sales may decide up in the summertime months.

“From a seasonal perspective, gross sales in the summertime months are sometimes quieter than the spring, however with such an unusually gradual spring, we might have an unusually busy summer season with so many having delayed their buying choices,” he mentioned.

This report by The Canadian Press was first revealed June 3, 2025.

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Final modified: June 3, 2025