{"id":25865,"date":"2025-05-27T10:10:25","date_gmt":"2025-05-27T17:10:25","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25865"},"modified":"2025-05-27T10:14:02","modified_gmt":"2025-05-27T17:14:02","slug":"call-it-a-sign-of-the-times-more-than-15000-listings-in-the-greater-vancouver-area","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/05\/call-it-a-sign-of-the-times-more-than-15000-listings-in-the-greater-vancouver-area\/","title":{"rendered":"Call It A Sign of The Times? More Than 15,000 Listings in The Greater Vancouver Area"},"content":{"rendered":"<p style=\"text-align: justify;\">\u201cThere are so many listings right now in the Metro Vancouver area that there\u2019s not enough signposts,\u201d Kaitlyn Herbst, realtor with MRKT Real Estate Group said.<\/p>\n<p style=\"text-align: justify;\">\u201cThe company is actually offering, if we take down the signpost, if it\u2019s already sold property and give them their signpost back so that they can use it for a new client, they will give us money back on our next signpost.\u201d<\/p>\n<p style=\"text-align: justify;\">Herbst said in April there were more than 15,000 listings in the Greater Vancouver area.<\/p>\n<p style=\"text-align: justify;\">\u201cThat\u2019s a lot of signs,\u201d she said.<\/p>\n<p style=\"text-align: justify;\">\u201cI mean, condos don\u2019t always have signs and stuff, but buyers, they\u2019re just not showing up. They\u2019re a little bit uncertain with everything that\u2019s going on and kind of taking a little more time to look.\u201d<\/p>\n<p style=\"text-align: justify;\">Real estate experts say it has been an interesting start to the year in Greater Vancouver.<\/p>\n<p style=\"text-align: justify;\">\u201cWhat we expected to happen was the market to be a little more active than what we\u2019ve seen so far,\u201d Andrew Lis, director of economics and data analytics at Greater Vancouver Realtors, told Global News.<\/p>\n<p style=\"text-align: justify;\">\u201cOur forecast called for some growth in sales for the year, but sales have come in pretty slow since the beginning of the year.\u201d<\/p>\n<p style=\"text-align: justify;\">Lis said it could partially be due to the uncertainty brought about by US President Donald Trump\u2019s tariffs, the political uncertainty around the Canadian election and the federal government\u2019s overall housing strategy plan.<\/p>\n<p style=\"text-align: justify;\">\u201cSo it could be a number of factors keeping buyers on the sidelines, but things have been sort of quiet on the buy side,\u201d Lis said.<\/p>\n<p style=\"text-align: justify;\">\u201cOn the sell side, we have a lot of people coming to market with their property. So we\u2019re actually at a point right now where we have some of the highest levels of inventory we\u2019ve seen in almost over a decade. So a really interesting time right now for the market.\u201d<\/p>\n<p style=\"text-align: justify;\">Lis said that sales are down about 24% year-over-year.<\/p>\n<p style=\"text-align: justify;\">\u201cThey\u2019re hanging below our 10-year seasonal averages, you know, around 20%, 30%. They\u2019ve kind of been around those levels for some time.\u201d<\/p>\n<p style=\"text-align: justify;\">Lis said that the market started to pick up late last year but has been slower in the first part of 2025.<\/p>\n<p style=\"text-align: justify;\">\u201cOn the inventory side, however, what we\u2019ve seen is a pretty significant increase in inventory levels in our region,\u201d he added.<\/p>\n<p style=\"text-align: justify;\">\u201cOur inventory level in the Greater Vancouver region that we track at our board has surpassed the 16,000 mark, which we have not seen in over about a decade.\u201d<\/p>\n<p style=\"text-align: justify;\">Lis said that for buyers, it\u2019s a good thing as there is finally some choice across the board \u2014 condos, detached houses and townhouses.<\/p>\n<p style=\"text-align: justify;\">However, they have seen more sales of detached homes than attached or apartments.<\/p>\n<p style=\"text-align: justify;\">\u201cGenerally, price trends have been fairly flat over the past few months and even actually over the last couple of years,\u201d Lis said.<\/p>\n<p style=\"text-align: justify;\">\u201cThere\u2019s some very small minor ups and downs \u2014 a percent here, up, down a percent there \u2014 but generally the price trend has been flat and that\u2019s been pretty much true across all product types.\u201d<\/p>\n<p style=\"text-align: justify;\">Herbst said she has never seen a market like this.<\/p>\n<p style=\"text-align: justify;\">\u201cWhen a couple years ago there was no subjects, you were buying places, sight unseen,\u201d she said.<\/p>\n<p style=\"text-align: justify;\">\u201cI had clients buy homes I had never actually seen. Subject free, all that. Now we\u2019ve got, \u2018Okay, we\u2019ll come back and see you a second time\u2019.\u201d<\/p>\n<p style=\"text-align: justify;\">Herbst said there are even sellers adding incentives to lure in prospective buyers.<\/p>\n<p style=\"text-align: justify;\">\u201cThere is one home (in Langley) that is for sale that the realtor is offering a Disney Cruise to the buyers of this family home. A four-person Disney cruise,\u201d she said.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s not cheap, but it\u2019s a way to make it stand out. It\u2019s a way to get those families through the door. And there\u2019s a lot of options for those buyers. So it\u2019s comparing apples to apples, but this one I get to go on a trip with my family.\u201d<\/p>\n<p><a href=\"https:\/\/globalnews.ca\/news\/11190458\/sign-of-the-times-new-indicator-bc-sluggish-real-estate-market\/\" target=\"_blank\" rel=\"noopener\">&#8220;Sign&#8221; of The Times : Surprising New Indicator of BC&#8217;s Sluggish Real Estate Market<\/a> by Amy Judd &amp; Aaron McArthur | Global News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThere are so many listings right now in the Metro Vancouver area that there\u2019s not enough signposts,\u201d Kaitlyn Herbst, realtor with MRKT Real Estate Group said. \u201cThe company is actually &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/05\/call-it-a-sign-of-the-times-more-than-15000-listings-in-the-greater-vancouver-area\/\">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-25865","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 v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Call It A Sign of The Times? 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