Greater Vancouver: A Quiet Start to the Year
As we begin a new year, the real estate market continues where 2025 left off. January’s data confirms that while inventory has eased from last year’s decade-high peak levels in June, buyer demand remains subdued and downward pricing pressure continues across all property types.
Richmond Market Update: Buyers Remain in Control
Richmond continues to reflect these broader trends, with pricing under pressure and demand remaining below seasonal norms. Prices are down both month-over-month and year-over-year across all property types.
Detached homes continue to face the most price pressure, with the sales-to-active listings ratio remaining below 12 per cent for the 13th consecutive month. Historically, sustained periods below a 12 per cent absorption rate tend to apply downward pressure on prices. In comparison, ratios above 20 per cent for several months tend to generate upward price momentum.
Inventory levels in Richmond have continued to slowly decline from the highs seen in September; however, sales remain below 10-year seasonal averages as buyer demand remains tepid. As a result, all property types remain firmly in buyer-market territory. What This Means Moving Forward
Borrowing costs are lower than they were a year ago, prices have adjusted meaningfully, and pent-up buyer demand continues to build. If interest rates decline further and confidence improves, we could see a gradual increase in activity as the year unfolds.
This remains a market where patience, pricing accuracy, and strategy matter.
Stay tuned for next month’s update as we continue to monitor how the market evolves.
- Sean Lawson
