{"id":25792,"date":"2025-05-21T11:11:02","date_gmt":"2025-05-21T18:11:02","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25792"},"modified":"2025-05-14T08:54:32","modified_gmt":"2025-05-14T15:54:32","slug":"more-options-negotiating-power-emerging-in-vancouver-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/05\/more-options-negotiating-power-emerging-in-vancouver-housing-market\/","title":{"rendered":"More Options &#038; Negotiating Power Emerging in Vancouver Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver real estate is shifting in favour of buyers, some experts say, as inventory levels, home prices and interest rates appear to be converging to give buyers a leg up.<\/p>\n<p style=\"text-align: justify;\">Despite being rattled by tariff-induced anxiety, political uncertainty and investment risk, some homebuyers are taking advantage of a sweet spot in the market, especially in the condo and detached segments, according to Adil Dinani.<\/p>\n<p style=\"text-align: justify;\">\u201cWith all the inventory building, buyers do have more options. The conditions are really aligning to be more favourable for buyers,\u201d said the principal of the Dinani Group, Royal LePage West Real Estate Services, who also pointed to ongoing cuts to the Bank of Canada\u2019s key rate.<\/p>\n<p style=\"text-align: justify;\">But the confluence of beneficial conditions for some homebuyers may be temporary, Dinani said. The April 28 federal election has now concluded, the hoopla around tariffs has largely subsided and a new trade deal with the US could be forthcoming, he said.<\/p>\n<p style=\"text-align: justify;\"><strong>Listings Surge<\/strong><\/p>\n<p style=\"text-align: justify;\">More inventory in the Vancouver region is giving homebuyers more choices and greater room to negotiate.<\/p>\n<p style=\"text-align: justify;\">According to the Greater Vancouver Realtors professional association, the total number of properties listed for sale on the MLS system in Metro Vancouver was 16,207 in April, a 29.7% increase compared with April 2024 (12,491).<\/p>\n<p style=\"text-align: justify;\">This was also 47.6% above the 10-year seasonal average (10,979).<\/p>\n<p style=\"text-align: justify;\">\u201cInventory levels have just crested 16,000 for the first time since 2014, prices have stayed fairly stable for the past few months and borrowing costs are the lowest they\u2019ve been in years,\u201d said Andrew Lis, GVR\u2019s director of economics and data analytics, in a statement.<\/p>\n<p style=\"text-align: justify;\">\u201cThese factors benefit buyers, and with balanced conditions across the market overall, there\u2019s plenty of opportunity for anyone looking to make a purchase.\u201d<\/p>\n<p style=\"text-align: justify;\">While the overall market does not currently meet GVR\u2019s technical definition of a buyer\u2019s market, Lis told BIV the detached segment is firmly in buyer\u2019s market territory, with a sales-to-active-listings ratio of 9.9%.<\/p>\n<p style=\"text-align: justify;\">Lis said he is \u201chopeful\u201d that more buyers will surface through the spring and summer, resulting in a more balanced market.<\/p>\n<p style=\"text-align: justify;\">\u201cThe sellers are there. They are ready and willing,\u201d he said.<\/p>\n<p style=\"text-align: justify;\"><strong>Prices, Rates Have Eased<\/strong><\/p>\n<p style=\"text-align: justify;\">Ross McCredie, CEO of Sutton Group Realty Services Ltd., said some prospective buyers remain hesitant even as prices stabilize after two decades of sharp growth.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019ve had this ever-growing capital appreciation of our real estate,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">\u201cI think what you\u2019re going to see over the next year is just a flattening.\u201d<\/p>\n<p style=\"text-align: justify;\">According to GVR data, the composite benchmark price for all residential properties in Metro Vancouver is currently $1,184,500, representing a 1.8% decrease over April 2024 and a 0.5% decrease compared with March 2025.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, lower interest rates have made money cheaper.<\/p>\n<p style=\"text-align: justify;\">Royal LePage\u2019s Dinani said lending rates may be more attractive to some buyers after the Bank of Canada\u2019s key rate descended from 5% in spring 2024 to 2.75% today.<\/p>\n<p style=\"text-align: justify;\"><strong>Luxury Market in Focus<\/strong><\/p>\n<p style=\"text-align: justify;\">A buyer\u2019s market has also emerged in luxury real estate, according to Sotheby\u2019s International Realty Canada.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver\u2019s luxury housing market ..\u2026 will remain firmly in buyers\u2019 territory this spring,\u201d said a Wednesday report from the brokerage.<\/p>\n<p style=\"text-align: justify;\">\u201cWith ample options, lax competition and prices facing downward pressure, prospective buyers will continue to wield the upper hand.\u201d<\/p>\n<p style=\"text-align: justify;\">According to Sotheby\u2019s, luxury sales above $4 million in the first quarter of 2025 declined by 48% year-over-year to 33 properties sold.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, sales above $1 million in the first quarter declined by 30% year-over-year to 723 properties sold.<\/p>\n<p style=\"text-align: justify;\">\u201cSlow sales velocity is expected to result in a further build-up of inventory, particularly in the condominium segment,\u201d the report said.<\/p>\n<p><a href=\"https:\/\/www.biv.com\/news\/real-estate\/is-a-buyers-market-emerging-in-vancouver-real-estate-10627522\" target=\"_blank\" rel=\"noopener\">Is A Buyer&#8217;s Market Emerging in Vancouver Real Estate?<\/a> by Jami Makan | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver real estate is shifting in favour of buyers, some experts say, as inventory levels, home prices and interest rates appear to be converging to give buyers a leg up. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/05\/more-options-negotiating-power-emerging-in-vancouver-housing-market\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-25792","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>More Options &amp; Negotiating Power Emerging in Vancouver Housing Market &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/05\/more-options-negotiating-power-emerging-in-vancouver-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"More Options &amp; 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