📊 Vancouver Market Insights: December 2024 Recap and 2025 Real Estate Trends

Welcome to your latest Vancouver real estate market update! As we head deeper into 2025, December’s data reveals fascinating insights about the market’s direction. Whether you're planning to buy, sell, or invest, these updates will give you a competitive edge.

🚀 Vancouver Home Sales Surge for the 4th Straight Month

December marked a pivotal moment in Vancouver’s housing market, with home sales climbing for the fourth consecutive month.

Key Highlights:

• 31% Year-Over-Year Sales Growth: The strongest December performance in years.
• Single-Family Homes: A standout, with sales up nearly 40% compared to last year.
• Condos: Experiencing steady growth but still slightly below the decade average.

Breaking It Down by Month:

• October: Sales jumped 11.4%.
• November: Sales rose another 7.7%.
• December: Capped off the year with a 1.5% increase.

“Demand is now running at the highest levels since the Bank of Canada’s rate hikes began in Q2 2022,” notes a recent market report. Buyers are returning, encouraged by falling rates and a renewed sense of optimism.

📉 Shrinking Inventory Tightens Market Conditions

While sales are climbing, the inventory is moving in the opposite direction, creating challenges for buyers.

Key Inventory Trends:

• Seasonally Adjusted New Listings: Down 3% month-over-month in December.
• Condo Listings Surge: Up over 30% compared to last year, offering more opportunities in this segment.
• Active Listings: Some neighborhoods are seeing the lowest levels of inventory in 11 months.

This combination of rising demand and shrinking supply is creating competitive conditions, especially for entry-level condos and townhomes.

🚨 B.C. Building Permit Values Take a Sharp Drop

A concerning trend emerged in the construction pipeline as building permit values in B.C. fell sharply in November.

Residential Sector Challenges:

• 13.4% Drop in Total Permits: From $1.79 billion in October to $1.55 billion in November.
• Residential Permits Plummet 30%: Falling from $1.25 billion in October to $868 million in November.
• Multi-Unit Residential Segment: Experienced the largest decline, with permit values dropping by 37%.

Why the decline? Rising construction costs and reduced investor activity have slowed pre-sale demand, leading to unsold inventory piling up in the pipeline.

A Silver Lining in Non-Residential Permits:

While residential permits are declining, non-residential permits surged 25%, driven by demand for industrial, commercial, and institutional projects.

🏡 Coming Soon: Stunning Scandinavian Elegance

Excited about the Vancouver market? Here’s a sneak peek at an upcoming gem:

• Location: Just off Main Street.
• Design: A Scandinavian-inspired half duplex by renowned architect Randy Bens.
• Features: Clean lines, abundant natural light, and impeccable craftsmanship.

Stay tuned for more details on this breathtaking home!

What’s Happening in Vancouver This Week? 🎭

Exciting Local Events:

• Vancouver Symphony Orchestra – Musical Celebration
  📅 Friday, January 26 | Orpheum Theatre

• Lunar New Year Parade in Chinatown
  📅 Sunday, January 28 | Celebrate with vibrant culture!

• Winter Farmers Market at Riley Park
  📅 Saturday, January 27 | Enjoy local food and crafts.

Let’s Plan Your 2025 Real Estate Goals Together

Whether you're looking to buy, sell, or invest, the shifting market dynamics create a unique opportunity to make smart moves this year. Let’s navigate this evolving market together and achieve your real estate goals.

📞 Book a call with me today:
👉 Schedule Your Strategy Call

🔎 Check BC Assessments:
👉 BC Assessment Tool

🏡 Search Listings:
👉 Explore Vancouver Properties

Here’s to a successful and exciting year ahead in Vancouver real estate!