Buyers and Sellers Adopting a Wait-and-see Approach to Housing Market

The latest data from Greater Vancouver REALTORS indicates that Metro Vancouver’s housing market remained steady in March 2026, with both buyers and sellers continuing to adopt a cautious, wait-and-see approach as the spring market begins.

Market Overview

Residential sales totaled 2,032 in March 2026, representing a 2.8 per cent decrease compared to the 2,091 sales recorded in March 2025. Sales were also 31.8 per cent below the 10-year seasonal average, indicating that buyer activity remains well below historical norms despite the seasonal uptick.

There were 5,792 newly listed detached, attached, and apartment properties added to the MLS® in March. This represents a 10.3 per cent decrease year over year, though it remains slightly above the 10-year seasonal average.

Total active listings reached 14,774, up 1.6 per cent compared to March 2025 and sitting approximately 38 per cent above the 10-year seasonal average. Elevated inventory levels continue to provide buyers with increased choice across all property types.

Sales to Active Listings Ratio

The overall sales-to-active listings ratio for March 2026 is 14.2 per cent.

By property type:

• Detached homes: 11 per cent

• Attached homes: 17.2 per cent

• Apartments: 15.7 per cent

Historical trends suggest that when the ratio remains below 12 per cent for a sustained period, downward pressure on home prices can occur, while levels above 20 per cent may signal upward price pressure.

March’s figures reflect balanced market conditions overall, with the detached segment still leaning toward a buyer’s market.

MLS® Home Price Index

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,104,300. This represents a 6.8 per cent decrease compared to March 2025 and a 0.4 per cent increase compared to February 2026, suggesting prices remain soft but relatively stable month over month.

Across property types, benchmark prices continue to show year-over-year declines. Detached homes experienced the largest adjustment, followed by apartments and attached homes.

• Detached: $1,854,800 (down 8.2% YoY)

• Apartments: $706,700 (down 7.8% YoY)

• Attached: $1,047,100 (down 5.7% YoY)

  
  

Sales & Listing Report Snapshot

Average Sale Price Per Square Foot:

What This Means Moving Forward

March’s data reflects a market that remains balanced but cautious. While inventory levels remain elevated, fewer new listings compared to last year are helping keep overall supply relatively stable.

Buyers continue to benefit from increased selection and negotiating flexibility, while sellers face a more competitive environment where pricing and presentation are critical.

Looking ahead, broader economic factors such as interest rates and global uncertainty may continue to influence buyer confidence and demand. Unless there is a significant shift in these conditions, the market is likely to continue along this steady but measured path through the spring season.