Sales activity climbed meaningfully month-over-month, rising to 2,032 transactions, a 23% increase from February and an 84% surge from January. That kind of sequential growth matters. It signals re-engagement. It reflects buyers stepping back into the market with greater confidence and intent. While sales remain modestly below the elevated levels seen in recent years, down slightly compared to March 2025 and more notably relative to 2023 and 2024, the trajectory is what stands out. The market is not chasing peaks; it is rebuilding momentum in a more measured and sustainable way.
At the same time, inventory continues to expand, but not in a way that signals weakness. Active listings reached 14,774 at month-end, up 9% from February and slightly higher than this time last year. The number of new listings followed suit, increasing to 5,920 in March, up 23% from February. Sellers are stepping forward but not flooding the market. The increase in supply is not a negative but a necessary ingredient for a functioning market. More property listings mean more choice, more transactions, and ultimately more stability. But there is a noticeable increase in competition for those listings and buyers need to be ready.
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The most important shift underway isn’t just numerical, it’s behavioral. Buyers are moving from the sidelines and less sellers are testing unrealistic price points.
Kevin Skipworth
Dexter Realty
The result is a market that is firmly in balanced territory. Months of supply tightened from eight to seven, while the sales-to-listings ratio held steady at 34%. These are healthy numbers. They indicate that while buyers have options, demand is keeping pace. This is not a stalled market but rather it’s a working one.
The most important shift underway isn’t just numerical, it’s behavioral. Buyers are moving from the sidelines and less sellers are testing unrealistic price points. Instead, both sides are engaging with a clearer understanding of value. That alignment is what’s driving stability.
A market finding its rhythm.
Across the region, we’re seeing fewer extremes and more consistency. Sales are rising steadily rather than spiking. Inventory is available without overwhelming demand. Balanced conditions are no longer isolated; they’re becoming the norm.
March is typically the month where the spring market either accelerates or stalls. This year, it’s clearly accelerating, but in a measured, sustainable way.
Greater Vancouver sales in March were 32% below the ten-year average after February was 29% below the ten-year average and January was 31% below the ten-year average. March struggled against the long-term averages but given the global uncertainty occurring, it’s not surprising. Given the trajectory from January though, this could be an indication that buyers are tired of waiting and with prices having moved off the highs from four years ago, opportunity continues to be the greatest we’ve seen in some time.
The number of new listings in March were 5% above the ten-year average after February was 7% above the ten-year average, and January 19% above the ten-year. The abundance of listings is slowing in Metro Vancouver which is even more reason for buyers to take advantage now instead of waiting.
City of Vancouver: balanced and active.
Vancouver Westside: The Westside continues to show steady improvement. Sales rose 23% month-over-month to 367 transactions, while months of supply dropped to seven. Notably, inventory remains lower than last year despite a monthly increase, an indication that supply is being absorbed more efficiently. The sales-to-listings ratio held at 34%, reinforcing stable, balanced conditions. This is a market that isn’t overheating, but it’s no longer hesitant either. Demand at higher price points is returning with discipline, not urgency.
Vancouver East Side: The East Side remains one of the most stable and reliable segments in the region. Sales increased modestly month-over-month, while maintaining a strong rebound from January levels. Months of supply edged up slightly to seven months, but this reflects increased inventory rather than weakening demand. The market remains firmly balanced, with consistent absorption across product types. Affordability relative to the Westside continues to anchor demand here, particularly for ground-oriented housing.
North Shore: quiet strength.
North Vancouver: North Vancouver is now one of the more competitive while balanced markets in the region. Sales rose 37% month-over-month, and months of supply tightened further to five, approaching seller-leaning conditions. Inventory has increased, but demand is keeping pace. This is a clear example of healthy growth: more listings, more sales, and tightening supply all at once.
West Vancouver: West Vancouver continues its gradual recovery. Sales increased 39% month-over-month, and months of supply dropped significantly from 18 to 14 months. While still firmly in buyer’s market territory, the trend is improving. Luxury markets move later in the cycle, and what we’re seeing now is early-stage stabilization.
Richmond: Richmond posted a strong 46% increase in sales month-over-month, alongside rising new listings. Months of supply improved from 12 to nine months, marking steady progress toward balance. This market continues to normalize after a period of elevated activity prior to interest rate hikes. Increased inventory is being met with gradually improving demand, which is exactly what a sustainable transition requires.
Burnaby: Burnaby continues to demonstrate consistency across all segments.
- Burnaby East improved modestly, with declining supply and increasing activity.
- Burnaby North saw sales increase and months of supply tighten to seven months, firmly balanced.
- Burnaby South held steady with eight months, with stable absorption despite rising inventory.
The common thread is stability. This is a market benefiting from its central location, transit access, and steady end-user demand. Burnaby could be one of the best markets for opportunity in the region.
New Westminster and the Tri-Cities: leading the shift.
New Westminster: New Westminster held steady in March, maintaining balanced conditions with seven months of supply and a consistent 33% sales-to-listings ratio. Flat sales month-over-month may seem unremarkable, but in a transitioning market, stability is a strength, not a weakness.
Coquitlam: Coquitlam continues to show strong underlying demand. Sales increased 17% from February but a whopping 113% from January, and months of supply tightened to six months. This market is now firmly balanced and edging toward competitive conditions, supported by continued population growth and transit-driven development.
Port Moody: Port Moody saw one of the stronger month-over-month gains, with sales up 61% and months of supply dropping to six months. Lifestyle-driven demand remains a key factor here, and improving absorption suggests buyers are stepping in with confidence.
Port Coquitlam: Port Coquitlam remains balanced, though absorption softened slightly compared to February. Still, months of supply remained at seven months, well within stable territory.
Pitt Meadows: Pitt Meadows stands out this month. Sales surged 138% from February, and months of supply dropped sharply from ten to five months. That is a significant shift in a short period of time and signals strong re-engagement from buyers.
Maple Ridge: Maple Ridge continues to build momentum. Sales rose 20% month over month, and months of supply dropped to six. Affordability and space continue to drive demand, and the market is now firmly balanced.
Ladner: Ladner is now one of the tightest balanced markets in the region. Months of supply dropped to five months, while the sales-to-listings ratio climbed to 46%. This follows a dramatic recovery over the past two months and reflects how quickly smaller markets can shift once demand returns.
Tsawwassen: Tsawwassen remains more supply-heavy, holding at ten months of inventory, but absorption improved. Sales increased month over month, and the sales-to-listings ratio rose to 34%. The trend is positive, even if the market is taking longer to rebalance.
Fraser Valley tells a similar story as Greater Vancouver.
Much like Greater Vancouver, the Fraser Valley market saw inventory tightening with months of supply continuing to decline after being at 12 months supply in January. March finished with nine months of supply and was slightly under total active listings at the end of March last year. Sales patterns were like Greater Vancouver with a healthy 20% jump in sales from February while only down marginally from March of last year. There were 1,007 sales in March compared to 843 in February and 1,036 in March 2025. Townhomes continue to be the best performing segment of the market with the tightest supply while detached homes continue to be abundant, steadfast in a buyer’s market. But those numbers are coming down with the likes of North Surrey going from 15 months supply in February to 11 months in March, and South Surrey going from 17 months to 12.
Overall, months of supply in the Fraser Valley decreased from ten months in February to nine months in March which was the same as nine months in March 2025. Improvement in the Fraser Valley is happening.
The foundation is now in place for a steady spring market. Momentum has carried through January, accelerated in February, and held firm in March. That continuity matters. It suggests that activity is not driven by short-term factors, but by a broader normalization of market conditions and significant pent-up demand.
Key trends to watch:
- Continued alignment between supply and demand.
- Gradual tightening in balanced markets.
- Increased activity in higher price segments as confidence builds.
- Stable pricing supported by consistent absorption.
The market isn’t chasing growth, it’s building it.
