Greater Vancouver
March 2026
Overall sales stayed well below normal for March, but detached sales rose from last year as fewer sellers listed and prices held roughly steady month to month.
Subscribe for monthly reports-31.8% vs 10-year March average
+38% vs 10-year March average
+0.4% vs February 2026
Detached homes stir while the rest of the market waits
March is usually when the spring market gets going, but sales came in about 32% below the 10-year average for the month. New listings were down 10% from last year, so inventory has stayed fairly flat – still well above what's typical for March, which means buyers have plenty to choose from.
Underneath the totals, the market is splitting. Detached sales rose 8.3% from last March while condo and townhouse sales slipped. Prices are down 6.8% from a year ago overall, but they barely moved from February, and the detached benchmark actually ticked up 1% on the month.
“What's interesting is that the aggregate total masks an emerging divergence among market segments. 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.” Andrew Lis, Chief Economist & VP Data Analytics, Greater Vancouver Realtors
- Fewer sellers: new listings fell 10.3% from last year, which is keeping inventory relatively flat and prices steady month to month.
- Rates: the Bank of Canada held its policy rate at 2.25% on March 18.
- The outlook: GVR says sales are tracking its 2026 forecast closely, but warns the conflict in the Middle East is pushing up bond yields and fixed mortgage rates, which could dampen spring demand.
Sales-to-active listings ratio
This ratio compares how many homes sold in the month to how many were for sale. Historically, when it stays below 12%, prices tend to soften; above 20% for several months, prices tend to rise.
What each segment is doing
Detached
- vs last year
- -8.2%
- vs last month
- +1.0%
- March sales
- 571 (+8.3%)
- Sales-to-active
- 11.0%
Still the softest segment on paper, but sales are up from last year and the benchmark rose 1% on the month. Buyers still have room to negotiate – just maybe not for long if this momentum holds.
Townhouses & duplexes
- vs last year
- -5.7%
- vs last month
- +0.1%
- March sales
- 446 (-5.5%)
- Sales-to-active
- 17.2%
The most competitive segment by sales-to-listings, even with fewer sales than last March. Well-priced family-sized homes continue to move.
Condos
- vs last year
- -7.8%
- vs last month
- -0.2%
- March sales
- 999 (-7.8%)
- Sales-to-active
- 15.7%
Balanced overall, with prices still easing slightly. Fewer investors are active, so first-time buyers have time to compare options without bidding wars.
GVR reports duplexes, townhouses and row homes together as “attached” homes, and apartments/condos together.
Demand across Greater Vancouver
How many homes sold in March for every 100 new listings that came on. It's the best area-level read on demand GVR publishes each month. As a guide: under 40% leans toward buyers, 40–60% is balanced, and over 60% leans toward sellers.
| Area | Detached | Townhouse & duplex | Condo | All types |
|---|---|---|---|---|
| Vancouver West | 30%62 of 205 | 32%59 of 185 | 37%246 of 673 | 35% |
| Vancouver East | 32%69 of 213 | 34%69 of 202 | 36%90 of 251 | 34% |
| North Vancouver | 35%52 of 147 | 35%39 of 110 | 39%93 of 240 | 37% |
| West Vancouver | 23%32 of 138 | 14%2 of 14 * | 21%12 of 57 | 22% |
| Burnaby | 23%34 of 150 | 32%45 of 142 | 38%158 of 414 | 34% |
| Richmond | 28%52 of 187 | 35%49 of 140 | 31%106 of 340 | 31% |
| Coquitlam | 39%53 of 136 | 39%41 of 106 | 35%97 of 274 | 37% |
| New Westminster | 21%12 of 57 | 26%8 of 31 | 40%56 of 140 | 33% |
| Port Moody | 21%12 of 58 | 41%12 of 29 | 43%34 of 79 | 35% |
| Port Coquitlam | 31%17 of 54 | 30%15 of 50 | 28%21 of 75 | 30% |
| Maple Ridge / Pitt Meadows | 37%71 of 190 | 48%50 of 104 | 44%34 of 77 | 42% |
| South Delta | n/a | 33%13 of 39 | 32%14 of 44 | 33% |
| Squamish | 45%18 of 40 | 52%22 of 42 | 43%10 of 23 | 48% |
Region-wide, 2,032 sales against 5,792 new listings works out to 35%. Squamish (townhouses and detached homes), Maple Ridge/Pitt Meadows townhouses and Port Moody condos and townhouses were among the most competitive pockets, while detached homes in West Vancouver, New Westminster, Port Moody and Burnaby leaned firmly toward buyers.
Plenty of choice – for now
- Inventory is 38% above the 10-year March norm, so you can take your time and compare.
- Detached homes still leave room to negotiate, but rising sales suggest that window may not stay open all spring.
- Get pre-approved and lock in a rate hold now – fixed rates have been moving up with bond yields.
Fewer listings, still price-sensitive buyers
- Fewer sellers are listing, which helps – but buyers still have lots of choice, so price to today's market.
- Presentation counts: staging, photography and pre-inspections help your home stand out in a busy spring lineup.
- Detached sellers are seeing renewed interest; townhouse sellers remain in the strongest spot relative to supply.
Benchmark prices by area
The benchmark price describes a typical home in each area, with the change from March 2025 underneath. Nearly every area and property type is down on the year – detached homes in Squamish and townhouses in Burnaby North are the exceptions, while Vancouver West detached homes saw the steepest drop.
| Area | Detached | Townhouse & duplex | Condo |
|---|---|---|---|
| Vancouver West | $2,925,000-13.8% | $1,396,800-5.2% | $779,100-8.3% |
| Vancouver East | $1,699,600-8.5% | $1,044,000-9.1% | $669,700-4.8% |
| North Vancouver | $2,115,400-5.3% | $1,255,800-4.3% | $779,700-4.9% |
| West Vancouver | $3,096,500-4.8% | n/a | $1,111,400-10.9% |
| Burnaby North | $1,922,100-9.3% | $931,500+1.8% | $687,800-9.3% |
| Burnaby South | $1,988,700-10.2% | $963,200-5.2% | $764,900-7.7% |
| Richmond | $1,974,200-9.3% | $1,037,500-8.2% | $674,700-9.2% |
| Coquitlam | $1,624,700-9.4% | $1,007,500-6.6% | $668,300-8.6% |
| New Westminster | $1,470,900-9.5% | $884,700-3.7% | $592,000-9.7% |
| Port Moody | $1,976,600-5.9% | $961,100-4.6% | $702,100-4.7% |
| Port Coquitlam | $1,351,300-4.6% | $902,700-4.8% | $597,200-6.2% |
| Maple Ridge | $1,224,600-4.8% | $731,900-8.2% | $513,700-6.3% |
| Tsawwassen | $1,516,600-8.2% | $925,800-4.6% | $616,100-8.6% |
| Squamish | $1,727,500+4.2% | $983,800-4.5% | $568,500-6.0% |
Assessed values vs. today's market
BC Assessment's 2026 values reflect the market as of July 1, 2025, and most Lower Mainland homeowners saw changes between -10% and 0%. Since then, GVR's overall benchmark price has kept sliding (-6.8% year over year to March 2026), so in many areas today's market value may sit below your 2026 assessment. If you're selling, price off current sales, not your assessment notice.
“The softening housing market is being reflected in 2026 property assessments.” Bryan Murao, Assessor, BC Assessment
| Municipality | Single-family (typical) | Strata (typical) |
|---|---|---|
| City of Vancouver | $2,092,000-5% | $772,000-3% |
| West Vancouver | $2,910,000-5% | $1,354,000-2% |
| North Vancouver (District) | $2,056,000-3% | $928,000-2% |
| North Vancouver (City) | $1,937,000-3% | $820,000-2% |
| Burnaby | $1,959,000-4% | $706,000-4% |
| Richmond | $1,745,000-8% | $735,000-6% |
| Coquitlam | $1,649,000-5% | $699,000-4% |
| Port Moody | $1,778,000-4% | $797,000-5% |
| Port Coquitlam | $1,358,000-4% | $648,000-5% |
| New Westminster | $1,560,000-2% | $617,000-4% |
| Delta | $1,353,000-4% | $722,000-5% |
| Maple Ridge | $1,183,000-3% | $635,000-2% |
| Squamish | $1,515,000+2% | $848,000+2% |
Typical assessed values for the 2026 roll, with change from the 2025 roll. Strata includes condos and townhouses. Source: BC Assessment, January 2, 2026.
What I'm watching this spring
Spring listings
April and May usually bring more new listings. Whether sellers keep holding back will shape how much choice buyers have and where prices go.
Interest rates
The Bank of Canada held at 2.25% on March 18. Its next decision is April 29 – and fixed mortgage rates are already being pushed up by higher bond yields.
Detached momentum
Detached sales rose from last year while new listings fell. Watch whether that carries into April or fades with rising borrowing costs.
Want to know what this means for your street?
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