Vancouver-area home sales and prices slid in March, with buyers showing little appetite for the mountain of active listings, according to Greater Vancouver Realtors (GVR).

There were 2,032 sales of residential properties in the region in March, down 2.8% from the same month last year and 31.8% lower than the 10-year seasonal average.

There were 5,792 properties newly listed for sale MLS system last month. While this was 10% lower than 2025, it was still 5% higher than the 10-year seasonal average, bringing the total number of listings to 14,774 – 38% above the 10-year seasonal average.

The benchmark price for all residential properties in Metro Vancouver is currently $1,104,300, down 6.8% year-over-over year.

GVR chief economist Andrew Lis said the weakness in demand “is unsurprising” based on its forecast for the year.

What’s worth noting, he said, is that 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.”

Lis said Vancouver continues to see fewer sellers stepping into the fold than last year, as major geopolitical events continue to ripple over to Canada’s housing market.

“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,” he said. “As a result, it’s reasonable to expect there may be a dampening effect on demand as we head into the spring market, absent a swift resolution to the conflict.”

Market Steady In in Fraser Valley

Fraser Valley home sales rose to 1,007 in March, up 20% from February but still below last year’s levels.

New listings increased 20% to 3,341, pushing active inventory to 9,201 and keeping the market in buyer’s territory with a sales-to-listings ratio of 11%.

The benchmark home price edged up 0.3% year-over-year to $898,300.

“We’re encouraged to see early signs of prices levelling off in the Fraser Valley,” said Fraser Valley Real Estate Board chair Ishaq Ismail, noting that improved selection and incentives are creating opportunities for buyers despite slower sales.

“Unsurprising” : Vancouver Home Sales Down Nearly 3% in March by REM Real Estate Magazine