Home sales are dropping in Maple Ridge, Pitt Meadows, and across the Lower Mainland, and real estate professionals are blaming the uncertainty caused by economic threats emanating from the U.S. White House.
According to the Greater Vancouver Realtors (GVR), 2025 sales in the Maple Ridge-Pitt Meadows market are at about 75 per cent of what they were last year. In 2024 there were 726 houses, townhouses and apartments sold in January through April, but in 2025 there has been just 545 sales over the same time period.
Across Metro, the slowdown is almost 24 per cent in April according to GVR, and it is 28.2 per cent below the 10-year seasonal average.
“From a historical perspective, the slower sales we’re now seeing stand out as unusual, particularly against a backdrop of significantly improved borrowing conditions, which typically helps to boost sales,” said Andrew Lis, GVR’s director of economics and data analytics.
“What’s also unusual is starting the year with Canada’s largest trading partner threatening to tilt our economy into recession via trade policy, while at the same time having Canadians head to the polls to elect a new federal government. These issues have been hard to ignore, and the April home sales figures suggest some buyers have continued to patiently wait out the storm.”
Prices are holding in the local market, with the median selling price of a house at $1.29 million in Maple Ridge-Pitt Meadows so far in 2025, townhouses $820,000 and apartments $539,000, which is the same as the first four months of 2024.
Veteran local Realtor Ron Antalek said the market conditions are not unfamiliar.
"The 1990's was like this for ten years. The current market is very competitive for sellers, and allows for good value purchases for buyers and good interest rates for mortgages," said Antalek.
He noted that many people in the market will be sellers, and then become buyers.
"If a seller is re-buying, then it is all relative," he said.
The total number of properties currently listed for sale on the MLS system in Metro Vancouver is 16,207, which is 48 per cent above the 10-year seasonal average of 10,979.
"Investors can also find 'good deals.' Great time to buy!" said Antalek.
Lis also sees the number of listings as a positive for the market.
“Inventory levels have just crested 16,000 for the first time since 2019, prices have stayed fairly stable for the past few months, and borrowing costs are the lowest they’ve been in years," he said. "These factors benefit buyers, and with balanced conditions across the market overall, there’s plenty of opportunity for anyone looking to make a purchase.”
