When I began tracking and analyzing the resale market for newer entry-level homes, my goal was to help first-time buyers and investors understand a segment that offers strong long-term value and a low-maintenance entry into homeownership and real estate investing. As a realtor who has spent his entire career focused on the new home sector, I’ve seen the clear advantages firsthand – fewer maintenance concerns, reliable developer track records, and modern design and amenities – available across Metro Vancouver at a range of price points.
In recent years, a major building boom has brought a wave of newer homes to the market. Today, buyers are in a uniquely favourable position we haven’t seen in some time. With high inventory levels, a wide selection of newer homes and a steady stream of newly-completed buildings, this is one of the most buyer-friendly markets in recent memory.
However, the start of 2025 introduced a layer of uncertainty that caused many buyers to step back. We entered the year amid rising global tensions – Trump’s return to power and renewed tariff threats – alongside a pivotal Canadian federal election. But as the weeks progress, the outlook is becoming more defined. The current abundance of available homes won’t last forever. For those ready to take the next step, today’s market presents a rare opportunity to buy from a position of strength.
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As history has shown, the Metro Vancouver market can only pull back so far before it begins to rebound.
Manraj Dosanjh
Dexter Realty
In April 2025, total sales reached 255 homes, a nearly 41% decline from the previous month and a 35% drop from April 2024, largely due to external factors affecting buyer confidence. Newer condos made up nearly 75% of the sales, followed by townhomes at 15% and single-family homes at 8%. Listing volumes were steady month-over-month at about 3,017 listings, but increased nearly 30% year-over-year. Most of the market favours buyers, with Willoughby townhomes being the notable exception, remaining in a seller’s market.
The condo market, especially in urban hubs like Burnaby and Surrey City Centre near SkyTrain lines, is expected to face continued pressure. A significant number of new completions are scheduled for 2025, many of them stemming from pre-sales during the 2021–2022 market peak. For presale buyers, this influx is a reminder that selecting projects with later, less-crowded completion timelines may offer a strategic edge by reducing future re-sale competition.
Meanwhile, open houses are seeing increased foot traffic. From my experience with listings in the Fraser Valley, buyer interest has noticeably picked up in recent weeks. Many are still proceeding cautiously, but activity is building. As history has shown, the Metro Vancouver market can only pull back so far before it begins to rebound. Life doesn’t pause – people are getting married, starting families, downsizing, relocating, and supporting loved ones. After several muted years, it’s clear the market is primed to turn a corner.
Townhomes took a dip.
In April 2025, only 38 entry-level townhome sales were recorded across key Metro Vancouver markets where most new developments are concentrated. With 392 active listings, the sales-to-active ratio sits at just 10%, signaling a strong buyer’s market.
Sales fell 63 percent from the previous month – a period that typically sees increased activity with the spring market – and were down 16 percent year-over-year. Meanwhile, inventory rose by 33% compared to the same time last year.
Willoughby, Langley stood out with strong demand, recording 21 sales – 55% of all townhome transactions – making it the only seller’s market. Despite having the same median list price as Surrey and South Surrey, Willoughby continues to outperform, driven by new schools, growing amenities, relative affordability and community diversity.
Median sales prices for newer entry-level townhomes in April ranged from $800,000 in Surrey to $1.33 million East Vancouver.
One-bed condos saw a slump.
The one-bedroom condo market remains soft, with just 90 sales across the region in April and 959 active listings, clearly favouring buyers with strong negotiating power. This is especially evident as median sale prices in April 2025 declined by nearly double digits in most tracked markets.
Inventory is expected to grow further in 2025, particularly in Surrey City Centre and Burnaby’s Metrotown and Brentwood neighbourhoods, where a wave of new condo completions – pre-sold during the hot 2021 market – is set to hit.
This segment is largely driven by first-time buyers and investors, both of whom have been waiting for more certainty. With the election behind us and interest rates projected to decline, activity could pick up in the coming months. For those in the market, now may be an ideal time to start looking.
In April 2025, median sale prices for newer one-bedroom condos ranged from $421,500 in Surrey City Centre to $657,500 in Downtown Vancouver.
Two-bed condos sales slowed.
Two-bedroom condo sales are sluggish heading into spring, down 40% both month-over-month and year-over-year, while inventory has increased nearly 26% compared to last year.
Weak demand continues to drive prices lower across most markets, except in Willoughby, Langley and North Vancouver – the region's only balanced markets.
The City of Burnaby has 403 active newer two-bedroom listings, with just 33 sales recorded in April, accounting for nearly one-third of the region’s total supply.
In April 2025, median sale prices for newer two-bedroom condos ranged from $624,500 in Surrey City Centre to $1.22 million in Downtown Vancouver.
Single-family homes didn't move much.
In April 2025, only 22 newer entry-level single-family homes sold, with 382 homes listed. Sales were down 41% from March and nearly 150% from last year.
East Vancouver was the sole market with a significant increase, up 125% from the previous month and 13% year-over-year, accounting for nine sales – nearly 50% of the total sales in April.
Notably, all other markets saw very low transaction volumes, with one to three sales each. For example, Vancouver’s Westside recorded just one sale out of 43 active listings, while Surrey and Langley each had one sale, with 61 and 58 listings, respectively.
In January, median sale prices for newer entry-level homes ranged from $1.74 million in South Surrey to $4.63 million in Westside Vancouver.
Reasons why you should consider newer-home resale data:
- Facilitates wise choices in new pre-sale purchases by providing valuable comparables, offering insights into product considerations for both personal use and investment.
- Great for those looking to purchase housing that is still in the early stages of its lifecycle – this means less repairs and maintenance during the first few years of ownership.
- More recent building and developer history – provides assurance and certainty when making one of the most important transactions of your life.
- Homes include some of the latest design and technology – great for resale value.
- Monthly sales statistics crucial for evaluating and planning new housing developments.
- These figures are routinely used by industry stakeholders such as real estate developers to understand the value of land and anticipated market values for newly completed homes.
Market Insights Report: April 2025
Spring usually means a moving real estate market, but this time there are more choices for buyers than there have been in nearly a decade. So, that might mean that it’s the perfect time for you to move, instead. Unpack all the details with Kevin Skipworth from Dexter Realty.
