Home sales in Metro Vancouver decreased slightly in March compared with the same month last year, as both buyers and sellers are taking a “wait-and-see” approach.
A new report from Greater Vancouver Realtors (GVR) shows sales were down 2.8 per cent, with a total of 2,032 sales in the month, compared to 2,091 sales in March 2025.
CLICK HERE TO LISTEN TO 1130 NEWSRADIO VANCOUVER LIVE!GVR says last month’s sales were more than 30 per cent below the 10-year seasonal average of 2,981 units.
“Year-to-date, sales are tracking our forecast for the year closely, and the weakness in demand we continue to observe at the aggregate level is unsurprising,” said Andrew Lis, GVR chief economist and vice-president of data analytics.
Meanwhile, fewer sellers are entering the market, keeping inventory levels flat.
“Pairing this dynamic with sales remaining below long-term averages, we’re not seeing prices move significantly in either direction,” Lis said.
“And while the political uncertainty over tariffs may have diminished relative to what we saw in early 2025, the conflict in the Middle East is now putting upward pressure on bond yields and fixed mortgage rates.”
Lis says the aggregate doesn’t capture what appears to be an emerging difference between home types.
“While the multifamily segment continues to see slower sales, the detached segment may be awakening with sales up, and new listings down from last year.”
The benchmark price for all residential properties is sitting at just over $1.1 million, according to the report. This is down 6.8 per cent compared with last year. Detached homes are sitting at a benchmark of almost $1.9 million, a drop of 8.2 per cent year-over-year, while the benchmark price for apartments is $707,000, down 7.8 per cent. For attached properties, the benchmark price is almost $1.05 million — a 5.7 per cent drop from March 2025.