Greater Vancouver Newer Home Resale Report: March 2026.

The newer home resale market in March continued its phase of recalibration, reflecting a broader landscape defined by buyer patience. A total of 232 transactions in March 2026 across the tracked neighborhoods show that a baseline of end user demand remains active, albeit at a measured pace. Although total sales are down 5% from February and 36% compared to last year, the 14% decrease in year over year inventory is an important detail to monitor. This reduction in available homes suggests that while the market has cooled, the underlying inventory is still being absorbed, creating a unique setup for when economic conditions eventually stabilize.

Total newer entry-level resale inventory sits at 2,567 units, but the real narrative is the competition with developer-owned multi-family homes now competing with newer resale homes. Because housing starts are decreasing drastically across the region as developers step back from launching any new projects (future housing) as current standing inventory takes its time to absorb, we are witnessing the beginning of a supply vacuum. This is a macro story; as seen recently in Ontario with the expansion of the full 13% HST rebate, governments are increasingly prepared to pull massive levers to keep the housing engine running. These policy shifts are the catalysts that can quickly propel a market forward by making it more affordable for the general public to re-engage and build the housing required for the future growth of Canada.

New housing is the foundation of a vibrant region. Each new housing development adds the critical density needed to support world-class amenities and institutional investment. The Oakridge Park transformation is a prime example, bringing the Time Out Market to a shortlist of global cities that includes Lisbon and Osaka, where culinary expertise drives world-class experiences. Similarly, the redevelopment of Brentwood and Lougheed has turned suburban malls into major town centres featuring top-tier hospitality brands. This concentration of housing also serves as a catalyst for public infrastructure. The Surrey-Langley SkyTrain exists because of planned housing density, which has directly led to the arrival of the SFU School of Medicine and the future UBC Surrey campus. Ultimately, building homes is the prerequisite for the transit, education and culture required to achieve world-class status.

While the market is not in a rush, this is a rare window of calm to conduct thorough research and negotiate from a position of strength. Real estate rewards those who recognize the transition from scarcity to opportunity and understand that today's stagnation is actually a period of value creation. The math for buying today is becoming very compelling; in many segments, the cost of owning is now comparable to renting. Instead of a monthly exit of capital that builds wealth for a landlord, buying allows you to secure your own future.

Fortune in real estate favours the optimists who recognize that housing and the economy are downstream of a positive world view. As new home inventory essentially vanishes due to a lack of new presales, today's market represents a significant opportunity with prices for multifamily homes reaching levels seen a few years ago. Metro Vancouver remains one of the most desirable destinations in the world, and those who recognize that the growth of a city follows the growth of its housing will be the ones who benefit the most in the long run.

Townhomes remained tepid.

March townhome sales remained tepid, decreasing by 20% compared to February and down 42% compared to the same period last year. Willoughby, Langley continues to drive most demand, recording 13 total sales, or 36% of total sold, in March for newer entry level townhomes. This is a notable feat considering every other tracked submarket reported at or below five sales.

Willoughby remains a firm seller’s market with a 5% median price increase this month. We are seeing upward pressure on prices as buyers migrate to the Fraser Valley for its relative affordability and robust infrastructure growth, including new schools, parks and retail hubs. While East Vancouver also maintains seller’s market conditions, all other tracked submarkets currently favour buyers.

Total inventory is up 8% compared to last year, with median sale prices in the month of March ranging from $826,000 in Surrey to $2,089,950 in Vancouver’s Westside.

One-bed condos saw a month-over-month sales jump, but remain far below last year.

One-bedroom condo sales saw a sharp 27% month-over-month decline in March, falling 48% below last year’s levels. This cooling has left the market saturated with inventory and trending heavily in favour of buyers.

High inventory hubs like Burnaby and Surrey City Centre are seeing a significant disconnect between supply and demand. Burnaby leads with 169 active listings and only 14 sales, while Surrey City Centre follows with 159 listings and just 7 sales. A major headwind for these submarkets is the direct competition from new completions. Until developers absorb their unsold inventory, resale homeowners will continue to face a challenging environment.

Currently, median prices show a massive spread, starting at $385,000 in Surrey City Centre and reaching $672,000 in North Vancouver.

Two-bed condos also saw a jump, but are below last year, too.

Two-bedroom condo sales surged 20% in March, showing a strong recovery from February even as year over year volumes remain down 24%. Although inventory has shrunk by 13% since last year, resale owners still face stiff competition from developers offering aggressive incentives to move completed stock.

The most significant activity occurred in Burnaby, Richmond and North Vancouver, where monthly sales growth reached as high as 250%. With median prices trending lower, the market is currently favouring first-time home buyers and those looking to transition from a one bedroom into a larger home. Buyers continue to hold the leverage in negotiations, which is likely to sustain sales velocity through the spring.

A major point of interest is the Downtown Vancouver corridor, where the median sale price of $1,085,000 sits nearly $400,000 below the median list price of $1,489,950. This gap suggests that while buyers are active, they are only transacting on properties that are priced realistically relative to today’s data.

Single-family homes remained essentially stuck.

The entry-level single family home market continues to prove itself as a luxury good in today’s environment. There were just 21 total sales reported across the tracked markets in March, a 32% decrease compared to the same period last year. Total inventory sits at 301 homes, resulting in a 7% sales to active listings ratio and a market heavily favouring buyers.

No individual submarket reported more than 5 sales in March, even in high inventory areas such as Surrey, South Surrey, Willoughby and East and West Vancouver, which each carry between 30 to 60 active listings.

Potential buyers for this newer entry-level market are increasingly pivoting toward older value add properties or newer duplex style homes in their preferred neighbourhoods. This addition of missing middle homes provides a strategic alternative for those focused on specific locations where single family homes remain out of reach. With median list prices spanning from $1,475,000 in South Surrey to $3,418,400 in Vancouver West, the current lack of urgency and ample supply grants buyers a rare tactical advantage for thorough negotiation.