{"id":25796,"date":"2025-05-20T10:10:39","date_gmt":"2025-05-20T17:10:39","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25796"},"modified":"2025-05-12T09:21:38","modified_gmt":"2025-05-12T16:21:38","slug":"vancouver-1-million-plus-luxury-home-sales-drop-30-into-buyers-market-territory","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/05\/vancouver-1-million-plus-luxury-home-sales-drop-30-into-buyers-market-territory\/","title":{"rendered":"Vancouver ($1-Million-Plus) Luxury Home Sales Drop 30% Into Buyer&#8217;s Market Territory"},"content":{"rendered":"<p style=\"text-align: justify;\">While Vancouver\u2019s luxury housing market appears entrenched in buyer\u2019s territory this spring, according to Sotheby\u2019s International Realty Canada.<\/p>\n<p style=\"text-align: justify;\">Citing data from the Greater Vancouver Realtors professional association, the brokerage said on Wednesday that residential sales in Metro Vancouver were down 13% in March compared with the same month one year earlier.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, the number of properties listed for sale increased close to 38% during that same period.<\/p>\n<p style=\"text-align: justify;\">Within the City of Vancouver\u2019s luxury market, the first quarter of 2025 saw sales of condos, attached and single-family homes over $4 million decline by 48% year-over-year.<\/p>\n<p style=\"text-align: justify;\">No sales of \u201cultra-luxury\u201d homes \u2013 those $10 million or more \u2013 were recorded on Multiple Listings Service during that period, as was the case in the first quarter of 2024.<\/p>\n<p style=\"text-align: justify;\">Overall, $1 million-plus residential sales declined 30% year-over-year, Sotheby\u2019s said.<\/p>\n<p style=\"text-align: justify;\">The $4-million mark is the threshold for \u201cluxury\u201d Sotheby\u2019s uses for Vancouver\u2019s real estate market.<\/p>\n<p style=\"text-align: justify;\">Sotheby\u2019s described Vancouver\u2019s luxury condo market as \u201csoft\u201d during the first quarter, adding buyer\u2019s market conditions \u201cdeepened as economic uncertainty discouraged sales activity despite mounting supply.\u201d<\/p>\n<p style=\"text-align: justify;\">The brokerage forecasts that slowing sales will result in a further build-up of inventory.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/real-estate\/vancouvers-luxury-housing-market-stalls-as-listings-rise-buyers-hold-back-10627805\" target=\"_blank\" rel=\"noopener\">Vancouver&#8217;s Luxury Housing Market Stalls as Listing Rise, Buyers Hold Back<\/a> by Ish Sharma | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While Vancouver\u2019s luxury housing market appears entrenched in buyer\u2019s territory this spring, according to Sotheby\u2019s International Realty Canada. Citing data from the Greater Vancouver Realtors professional association, the brokerage said &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/05\/vancouver-1-million-plus-luxury-home-sales-drop-30-into-buyers-market-territory\/\">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-25796","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>Vancouver ($1-Million-Plus) Luxury Home Sales Drop 30% Into Buyer&#039;s Market Territory &#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\/vancouver-1-million-plus-luxury-home-sales-drop-30-into-buyers-market-territory\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver ($1-Million-Plus) Luxury Home Sales Drop 30% Into Buyer&#039;s Market Territory &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"While Vancouver\u2019s luxury housing market appears entrenched in buyer\u2019s territory this spring, according to Sotheby\u2019s International Realty Canada. 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