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Buyers and sellers in Metro Vancouver continue to take a measured “wait-and-see” approach as we head into the spring market.
According to the Greater Vancouver REALTORS® (GVR), residential sales on the MLS® totalled 2,032 in March 2026. That’s a modest 2.8% decline from March 2025 and remains 31.8% below the 10-year seasonal average. Year-to-date activity is tracking forecasts, but overall demand stays softer than normal.
New listings dropped 10.3% year-over-year to 5,792, helping keep total active inventory relatively stable at 14,774 properties — still 38% above the long-term average.Market Balance by Property Type
The overall sales-to-active listings ratio sits at 14.2%, indicating a balanced but cautious market (downward price pressure typically appears below 12% sustained, while upward pressure kicks in above 20%).
Segment Breakdown:
- Detached homes: Showing signs of life — sales rose 8.3% to 571, while new listings declined. Benchmark price: $1,854,800 (down 8.2% year-over-year, up 1% from February).
- Apartments (condos): Sales fell 7.8% to 999. Benchmark price: $706,700 (down 7.8% year-over-year).
- Attached/townhomes: Sales dipped 5.5% to 446. Benchmark price: $1,047,100 (down 5.7% year-over-year).
The composite benchmark price for all residential properties now stands at $1,104,300, down 6.8% from March 2025 but up slightly (0.4%) month-over-month.
GVR Chief Economist Andrew Lis noted that fewer sellers entering the market has kept inventory from surging, resulting in relatively stable prices despite below-average sales. However, ongoing global uncertainties — including conflict in the Middle East pushing bond yields and fixed mortgage rates higher — could further dampen demand in the coming months.
Interesting Tip for Buyers and Sellers:
For Buyers: In a market with elevated inventory and a sales ratio hovering in the balanced zone, be selective and patient. Properties sitting longer on the market often allow room for thoughtful negotiation — especially on condos and townhomes where sales have softened more than detached homes.
For Sellers: Price realistically from day one and ensure your property is show-ready. With buyers being more cautious, well-presented homes in desirable segments (particularly detached) are still attracting interest, while overpriced listings risk sitting longer.
TL;DR Summary:
- Sales: 2,032 (−2.8% YoY, well below seasonal norms)
- Active listings: 14,774 (+1.6% YoY, +38% above average)
- Benchmark price (all types): $1,104,300 (−6.8% YoY)
- Detached segment showing early strength; condos and townhomes softer
- Market remains balanced but cautious heading into spring.
Whether you’re thinking of buying your first home, upgrading, or selling in Metro Vancouver, the current environment rewards preparation and realistic expectations.I’d love to chat about how these trends could affect your specific situation. Feel free to reach out — let’s discuss your real estate goals and create a smart plan tailored to today’s market.
— Gavin Lam, REALTOR®
Century 21 In Town Realty
Century 21 In Town Realty
