Vancouver, BC – March 11, 2025. The British Columbia Real Estate Association (BCREA) reports that 4,947 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in February 2025, down 9.7% from February 2024. The average MLS® residential price in BC in February 2025 was down 2.4% at $964,349 compared to $987,811 in February 2024.

The total sales dollar volume was $4.8 billion, an 11.8% decrease from the same time the previous year. BC MLS® unit sales were 28% lower than the ten-year February average.

“After several months of growing momentum, market activity was hampered in February by the uncertainty surrounding tariffs,” said BCREA Chief Economist Brendon Ogmundson. “Apprehension from prospective buyers will continue amidst this unfortunate trade war but may be somewhat tempered by lower interest rates on the horizon.

Year-to-date, BC residential sales dollar volume is down 4.5% to $8.8 billion, compared with the same period in 2024. Residential unit sales are down 2.8% year-over-year at 9,175 units, while the average MLS® residential price is also down 1.8% to $958,366.

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Tariff Uncertainty Slows February Housing Activity by Brendon Ogmundson | Chief Economist | BCREA