Residential property sales remain sluggish in Maple Ridge and Pitt Meadows, down by about one-third, according to the latest date from the Greater Vancouver Realtors.
The monthly statistical package of sales, prices, and listings shows there were 211 houses sold over the past three months – March, April and May – which is a 34 per cent drop from the same three months in 2024.
Townhouses are also down 34 per cent over that time frame, dropping from 193 to 127. Apartments are down 18 per cent, with 99 sales in the past three months, compared with 121 during that 2024 time frame.
Prices are holding steady. The typical single family detached home in the Lower Mainland is selling for $1.78 million, while in Maple Ridge-Pitt Meadows the median price in May was $1.29 million.
The comparison is similar for townhouses, at $975,000 across the region, but $790,000 in Maple Ridge-Pitt Meadows. Apartments locally are have a selling price of $570,00, and $702,000 across the Lower Mainland.
Inventory levels across Metro Vancouver hit a 10-year high, while home sales registered on the MLS remained muted.
The GVR reports that residential sales in the region are 30.5 per cent below the 10-year seasonal average.
“While there are emerging signs that sales activity might be turning a corner, sales in May were below the 10-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics.
“On a year-to-date basis, sales in 2025 rank among the slowest to start the year in the past decade, closely mirroring the trends seen in 2019 and 2020. It’s worth noting that sales rebounded significantly in the latter half of 2020, but whether sales in 2025 might follow a similar pattern remains the million-dollar question.”
The number of properties listed for sale on the MLS system in Metro Vancouver is 17,000, which is 46 per cent above the 10-year seasonal average (11,718).
“With some of the healthiest levels of inventory seen in years, many sellers are adjusting price expectations, which has provided buyers more negotiating room and kept a firm lid on price escalation over the past few months,” Lis said. “From a seasonal perspective, sales in the summer months are typically quieter than the spring, but with such an unusually slow spring, we may have an unusually busy summer with so many having delayed their purchasing decisions. Either way, the market continues tilting in favour of buyers, which bodes well for anyone looking to make a purchase this summer.”
