Overall, buyers and sellers are overall taking a more cautious, wait-and-see approach in today’s market. Sales in March were slightly down compared to last year and remain well below long-term averages, which reflects softer demand.
New listings have also declined compared to last year, keeping overall inventory fairly stable. While there are more homes available than the historical average, there’s no surge in supply.
One interesting shift is happening across property types. Detached homes are starting to show some momentum, with sales increasing year-over-year, while condos and townhomes are still experiencing slower activity.
Prices have generally remained stable month-to-month, but are down compared to this time last year. With current market conditions, we’re not seeing strong upward or downward pressure on pricing.
Looking ahead, factors like higher mortgage rates and ongoing global uncertainty may continue to impact buyer demand as we move through the spring market.
Happy Easter!
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
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