The spring market in the Tri-Cities has been slower than usual this year. According to the Greater Vancouver REALTORS® (GVR) May 2025 report, sales activity across Port Moody, Coquitlam, and Port Coquitlam continues to reflect a more balanced-to-buyer-friendly environment.
Slower Sales, More Inventory
Across Metro Vancouver, home sales were down 18.5% compared to May 2024, and sat 30.5% below the 10-year seasonal average. Inventory has climbed to its highest level in over a decade, with more than 17,000 active listings currently on the market. Buyers now have significantly more choice, and that’s changing the pace of how quickly homes are selling.In the Tri-Cities, we’re seeing the same story unfold. Homes are spending more time on the market, and pricing is playing a critical role in whether a listing gets traction. Many homes are sitting three to four weeks before seeing serious offers, especially if they aren’t staged well or priced strategically.Here’s where benchmark home prices landed in May:
- Detached: $2,075,700
- Condo: $746,900
- Overall: $1,096,400
- Detached: $1,778,300
- Condo: $724,000
- Overall: $1,073,400
- Detached: $1,412,000
- Condo: $636,500
- Overall: $956,300
While prices are relatively stable month-over-month, most areas saw a year-over-year decline between 1% and 4% depending on property type. Buyers are being cautious, and they have more negotiating power than they did a year ago.
What Buyers Need to Know
If you're house hunting in Port Moody, Coquitlam, or Port Coquitlam, this is a great time to be selective. The increased inventory gives you more opportunity to find the right fit without rushing. That said, well-presented homes in great locations are still attracting multiple showings and selling quickly. Be prepared to act when something checks your boxes.Mortgage rates remain relatively high, which continues to impact affordability. However, if rates ease later this year as expected by several Canadian economists, we may see a rebound in activity in late summer or early fall.
Advice for Sellers: Pricing and Presentation Matter
With longer days on the market, sellers need to focus on first impressions. Proper staging, professional photos, and realistic pricing are more important than ever. Buyers are comparing your home to many others, and anything that feels overpriced or poorly presented risks being overlooked.We’re also seeing a growing trend of buyers requesting price reductions or seller credits after inspections. Preparing your home properly ahead of listing can reduce those surprises and improve your outcome.Spring may have started slowly, but history shows that a quiet spring can lead to a busy summer. That’s what happened in 2020, and experts at GVR suggest we may see a similar rebound this year as buyers re-enter the market. With prices leveling off and more listings available, both buyers and sellers can benefit from planning ahead.
Final Thoughts
The
Tri-Cities real estate market in May 2025 is all about strategy. Whether you're buying or selling, it’s essential to understand local conditions and respond accordingly.
- Buyers: You have more time and options. Stay informed and be ready when the right property shows up.
- Sellers: Don’t guess on price. Work with an experienced local agent, prep your home thoroughly, and present it with care.
If you're curious about your
home's current value or wondering what to expect in the next few months, reach out to
Shaw Edwards Realty Group. We're always happy to provide insights specific to your property and neighbourhood.