Vancouver March Real Estate Report

The Vancouver housing market has hit a turning point. March sales fell to 2,091 transactions - their lowest level since 2019 and down 13.4% from last year. My experience as a top Vancouver realtor shows this market change comes with the highest March inventory we've seen in ten years. Active listings now stand at 14,546, up 37.9% compared to March 2024.

Our latest market report points to conditions that now favor buyers. The sales-to-active listings ratio has dropped to 14.9%. Different property types in Vancouver's market show varied effects. Detached homes have adjusted the most, with their standard price now at $2,034,400. If you're thinking about buying or selling in today's market, I can help you make smart decisions. Let's talk about your real estate goals soon.

Metro Vancouver sees lowest March sales since 2019

March 2025 marks a turning point for the vancouver housing market. Residential property transactions reached their lowest level in six years for this month. Greater Vancouver REALTORS® (GVR) reports just 2,091 property sales in March. These numbers show a substantial decline from previous years and long-term averages.

Sales fall 13.4% year-over-year

The real estate market shows a cooling pattern in Metro Vancouver. Last month's 2,091 home sales dropped 13.4% from 2,415 sales during the same period last year. The numbers tell an even clearer story when broken down by property type. Buyers purchased 527 detached homes, 1,084 apartments, and 472 attached homes.

Vancouver housing market trends show buyer activity has dropped steadily even with conditions that should encourage purchases. March figures continue the restrained buying pattern we've seen throughout early 2025. This gives prepared buyers a chance to negotiate better deals than during the seller-dominated market of recent years.

The low transaction numbers stand out since March typically kicks off the spring selling season - one of the year's busiest periods. Buyer hesitation remains the key factor in today's market.

Sales volume 36.8% below 10-year average

The current sales numbers show an even bigger gap from historical patterns. March 2025 sales dropped 36.8% below the 10-year seasonal average of 3,308 transactions. These numbers highlight how dramatically the vancouver housing market has changed from typical patterns. The gap between current and historical performance ranks among the largest we've seen recently.

The sales-to-new listings ratio sits at 32% in Metro Vancouver, putting us squarely in buyer's market territory. This ratio dropped from 36% in February 2025. Sellers have less leverage as we head into spring. While sellers face challenges, buyers can be more selective and confident in their purchasing decisions.

Several factors drive this unusual market behavior:

1. Economic uncertainty makes buyers hesitant
2. Affordability remains challenging despite moderate interest rates
3. Buyers expect prices might drop further
4. More inventory gives buyers options and reduces urgency
5. Financial institutions maintain cautious lending practices

The real estate market vancouver looks very different from early 2023, when sales showed "a stronger than expected spring showing" despite high borrowing costs. Today's market gives buyers more leverage and balanced negotiating conditions.

Different market segments perform uniquely. Detached homes sit firmly in buyer's market territory. Attached homes stay closer to balanced conditions. The vancouver housing market news varies by property type and neighborhood.

Homeowners planning to sell soon need strategic pricing and exceptional presentation. Buyers have a great chance with less competition and more choices. I track these vancouver real estate outlook indicators closely and can guide you based on your needs. Let's talk about how these market changes affect your real estate plans – whether you want to buy, sell, or understand where the market heads next.

Inventory surge shifts market toward buyers

The vancouver housing market has changed radically. Property listings have shot up, which means buyers now have more choices after years of limited options. The market has altered completely in the last 12 months. Sellers no longer hold all the cards, and buyers have gained power they haven't seen in years.

Active listings rise nearly 38% year-over-year

The latest real estate market report shows a remarkable change in housing availability across Metro Vancouver. The MLS® system now lists 14,546 properties for sale. This number shows a 37.9% jump from March 2024's 10,552 properties. Buyers now have more options and bargaining power than previous years.

The current Vancouver housing market trends tell an interesting story. These inventory numbers don't just show yearly growth - they're 44.9% higher than the 10-year seasonal average of 10,038 properties. Buyers can now choose from 4,500 more listings than a typical March. This abundance has changed how people buy homes. The pressure to make quick decisions has eased compared to the recent frantic market.

The numbers keep climbing. Active listings jumped from 12,744 in late February to 14,546 by March's end. Properties are piling up because sales can't match the pace of new listings. Sellers must price their homes right and present them well to catch attention in this crowded market.

New listings exceed 10-year seasonal average

New properties keep flowing into the market. Metro Vancouver recorded 6,455 new listings last month across detached, attached and apartment properties. This number towers 29% above the 5,002 properties listed in March 2024. New inventory keeps outpacing buyer demand, which adds more choices for potential buyers.

The surge in new listings isn't just a yearly blip - it's 15.8% above the 10-year seasonal average of 5,572. The real estate market vancouver shows an unusual pattern. More sellers list their properties even though buyers remain cautious. This gap between supply and demand creates better conditions for buyers.

The vancouver housing market news points to big changes. Sales numbers have dropped while inventory grows. The sales-to-active listings ratio has moved into buyer's market territory. This ratio shows market balance by comparing sales to available inventory. Its recent drop gives buyers more power in negotiations.

Home sellers should think carefully about their strategy in the coming months. They need smart pricing and great presentation. Buyers have a rare chance to shop with less competition and more choices than recent years. As your Vancouver realtor, I can help you direct these market conditions to your advantage. Let's talk about how these Vancouver real estate outlook trends might affect your plans. We can build a strategy that matches your goals.

How do different property types perform?

A closer look at the vancouver housing market shows remarkable differences in property segment performance in 2025. The latest real estate data points to a market that's becoming more layered, where each property type reacts uniquely to the current economic climate.

Detached homes enter deep buyer's market

The high-end segment of the real estate market vancouver has clearly turned in buyers' favor. Detached homes show a sales-to-active listings ratio of 10.3%, which puts this category squarely in buyer's market territory. This number sits below the 12% mark that usually signals downward price pressure. March 2025 saw 527 detached homes sold, which is 24.1% less than the 694 sales in March 2024. The benchmark price stays strong at CAD 2,834,651.99, with a small 0.8% yearly gain and a 0.4% rise from February 2025. When guiding my clients through this segment, I stress that detached properties need precise pricing and outstanding presentation to draw qualified buyers.

Attached homes approach seller's market threshold

The attached home segment tells quite a different story in the current vancouver housing market trends. Townhouses and duplexes have a sales-to-active ratio of 21.5%, slightly above the 20% mark that usually points to rising prices. This better performance comes from limited supply, with only about 2,200 active listings across the region. Sales reached 472 units in March 2025, down 4.6% from March 2024. The benchmark price stands at CAD 1,550,949.24, with a slight 0.8% yearly drop but a 0.2% monthly increase from February. This segment's strength makes it a promising option in the real estate market report for sellers who want to make a move now.

Apartments remain in balanced territory

Apartments hold the middle ground in today's vancouver housing market news. The 16.2% sales-to-active listings ratio keeps condominiums in balanced market territory, without favoring either buyers or sellers. March 2025 saw 1,084 apartment sales, a 10.2% drop from March 2024. The benchmark price is CAD 1,069,125.28, showing a small 0.9% yearly decrease but a notable 1% rise from February 2025. This segment's stability shows that starter homes still attract buyers despite market challenges, giving first-time buyers a steady entry point in the vancouver real estate outlook.

Let me help you navigate this complex market with advice tailored to your property type and neighborhood. Reach out today to learn how these market conditions might shape your real estate plans.

What’s driving buyer hesitation in a favorable market?

The vancouver housing market shows buyers holding back despite perfect buying conditions. This odd behavior tells us something interesting about how people make buying decisions that goes beyond just looking at the numbers.

Interest rates fall but sentiment remains cautious

The Bank of Canada has started cutting rates. Their benchmark rate dropped by 25 basis points in March and April 2025. This brought rates down from 5% at the start of the year to 4.5% now. But these cuts haven't sparked the buying rush experts predicted. Buyers seem to be playing the waiting game. They expect more rate cuts throughout 2025. My clients tell me they've done the math. Each quarter-point drop could save them thousands every year on mortgage payments. This makes them want to wait longer. The better the deals get, the more people want to wait for even better ones.

Economic uncertainty and affordability concerns

The reason behind all this waiting comes from bigger money worries that affect the real estate market vancouver. Our area's unemployment rate has climbed to 5.8% from 4.9% last year. This makes people nervous about their jobs and big purchases. On top of that, housing costs remain a challenge even with some price drops. Metro Vancouver's median household income sits at about $89,500. This creates a big gap between what people earn and what homes cost. The vancouver housing market trends show that even with recent price changes, the gap between incomes and housing costs blocks many potential buyers, especially first-timers.

Comparison to early 2023 market behavior

Today's market feels completely different from early 2023. Back then, the vancouver real estate outlook stayed strong even as interest rates went up. Buyers rushed in because they were afraid of missing out. Now they worry more about paying too much. This shows how the market has grown up. Buyers have become smarter about timing their purchases. The vancouver housing market news suggests we might not have hit bottom yet in this adjustment period.

As your experienced Vancouver realtor, I can help you through these tricky market conditions to find the right time for your situation. Let's talk about your real estate goals and create a strategy just for you.

Will spring revive the Vancouver housing market?

Spring brings renewal to the vancouver housing market, but 2025 might not follow the usual patterns. Market indicators give us clues about what buyers and sellers should expect in the months ahead.

Historical trends suggest seasonal rebound

Past cycles show that spring speeds up market activity whatever the economic conditions. The real estate market vancouver showed this resilience in 2023, when "home sales mounted a surprising comeback, rising near levels seen last spring" even with back-to-back interest rate increases. The market started 2023 with flat prices but picked up steam through spring and summer. Current conditions look a lot like early 2023, which hints at another possible upturn as the weather warms up. This track record gives hope that seasonal factors could overcome today's market hesitation.

Low inventory in attached segment may tighten prices

The attached home segment paints a different picture despite surging overall inventory. Metro Vancouver's 2,200 active listings in this category "continues teetering on the threshold of a sellers' market". Limited supply could push prices higher as spring buyers enter the market. The sales-to-active listings ratio sits at 21.5%, just above the 20% mark that usually signals rising prices. This segment could lead a market comeback because of its tight supply and strong buyer interest.

Expert insights on what to watch next

The vancouver housing market trends point to several factors that will shape spring's direction. Interest rates top the list – the Bank of Canada's aggressive rate cuts could boost activity, though some experts say they're cutting rates to dodge a recession. U.S. administration's political and economic uncertainties also affect buyer confidence. The vancouver real estate outlook depends on whether buyers jump at better conditions or keep waiting.

My experience includes guiding clients through market shifts. Want to learn how these vancouver housing market news developments fit your plans? Let's talk today about your specific situation.

Conclusion

Vancouver's real estate market shows a clear transformation this March 2025. Sales have dropped to their lowest levels since 2019. The inventory has jumped almost 38% compared to last year. These numbers show a definite move toward conditions that favor buyers. Different property types tell unique stories. Detached homes now sit firmly in a buyer's market. Attached properties remain relatively stable and closer to a seller's market.

The Bank of Canada's recent interest rate cuts brought good news. Yet the market hasn't shown the predicted boost in activity. Real estate typically picks up during spring in Vancouver. The 2025 market looks different though. We might see a gentler seasonal increase compared to previous years.

The current market creates opportunities for everyone involved. Buyers now have more choices and better negotiating power. Sellers who set the right price still find success in this changing market. My years of experience help clients navigate these shifting conditions successfully. My strong performance record makes me the right choice to help with your next property move. Contact us today to discuss your property goals in today's market.

FAQs

Q1. How has the Vancouver housing market changed in March 2025? The Vancouver housing market has seen significant changes, with March 2025 recording the lowest sales since 2019. Sales fell 13.4% year-over-year, while active listings increased by nearly 38% compared to the previous year, shifting the market in favor of buyers.

Q2. What is the current state of inventory in Vancouver's real estate market? The inventory in Vancouver's real estate market has surged, with 14,546 active listings in March 2025, representing a 37.9% increase from the previous year. This substantial growth in available properties has given buyers more options and negotiating power.

Q3. How are different property types performing in the current market? Performance varies by property type. Detached homes have entered a deep buyer's market with a sales-to-active listings ratio of 10.3%. Attached homes are approaching seller's market conditions with a ratio of 21.5%, while apartments remain in balanced territory with a ratio of 16.2%.

Q4. Why are buyers hesitant despite favorable market conditions? Buyers are showing caution due to several factors, including economic uncertainty, ongoing affordability concerns, and expectations of further interest rate cuts. This "wait-and-see" approach is contributing to slower market activity despite improved conditions for purchasing.

Q5. Can we expect a revival in the Vancouver housing market this spring? While spring typically brings increased activity to the Vancouver housing market, it's uncertain if 2025 will follow historical patterns. Factors such as interest rate changes, political and economic uncertainties, and buyer sentiment will play crucial roles in determining market performance in the coming months.