Highlights of Dexter’s April 2026 report

• Bank of Canada keeps its rate in check

• Detached homes showed more sales 

• Market conditions make for a great time to move

• Balance in the market continues

Supply Expands, Stability Holds Across Metro Vancouver

April didn’t break the trend; it carried it forward. It acted like a spring market in its own way. While not the volume of sales we are used to in Metro Vancouver, it carried forward from March and previous months to make April the best month for sales since the fall.

After two months of accelerating momentum, the Metro Vancouver market moved into a more measured phase in April. Sales continued to rise, inventory expanded more meaningfully, and the overall market shifted slightly back toward buyer-leaning conditions in some areas. Detached homes showed a great improvement in sales, up 14% compared to April last year while town homes and condos were down. The increase in supply helped move more sales forward. 

Total residential sales in Greater Vancouver reached 2,110 units in April, up 4% from March and 28% from February. The pace of growth has slowed compared to earlier in the year, but that’s expected as the market moves out of recovery mode and into a more stable operating range. 

Greater Vancouver sales in April were 23% below the 10-year average after March was 32% below the 10-year average, February at 29% below the 10-year average and January at 31% below the 10-year average. April proved better not just in overall sales numbers but trending towards the average. These are signs of better buyer engagement, and an increase in listing choice. 

The month-over-month gains were especially strong in Burnaby East (+25%), West Vancouver (+11%), Richmond (+17%), Vancouver East Side (+12%), New Westminster (+13%), and Port Coquitlam (+13%). Burnaby East in particular stands out with a robust 49% sales-to-listings ratio, the highest in the region.

Several communities posted meaningful year-over-year gains, a particularly encouraging sign given that 2025 was hoped to be a recovery year while continued uncertainty had other plans for 2025 and 2026. West Vancouver led with a striking 34% increase in units sold versus April 2025, followed by Ladner (+106%), Richmond (+15%), Vancouver East Side (+7%), Pitt Meadows (+11%), and Port Moody (+6%). These gains reflect genuine demand strength in these communities and bode well for the months ahead.
 

At the same time, inventory growth stepped up. Active listings climbed to 16,236, up 10% month-over-month and essentially flat year-over-year. Several submarkets have seen active listings decline compared to last year: Vancouver Westside is down 12%, Burnaby East down 14%, Burnaby North down 8%, and West Vancouver down 6%. These inventory reductions, combined with improving sales, point to tightening conditions that could support price stability in those areas.

New listings rose to 6,817, a 15% increase from March and a substantial 55% above April 2023 levels. Sellers are clearly engaging in the market in greater numbers again.

The number of new listings in April were 15% above the 10-year average after March was 5% above the 10-year average, February was 7% above the 10-year average, and January 19% above the 10-year. April typically shows growth in listing inventory after a month of spring breaks and Easter Holidays.

That increase in supply had a predictable effect on market balance. Months of supply edged up from 7 to 8 months, and the sales-to-listings ratio eased slightly to 31%. This places the region just into buyer’s market territory, but only marginally and certainly not universally for all home types and neighborhoods.

A Market Absorbing Growth

The key point: demand is keeping pace, but in April it didn’t outpace supply. 

The increase in listings isn’t overwhelming the market, it’s being met with steady, consistent buyer activity. That’s why sales continue to rise even as inventory expands. What we’re seeing is not a pullback. It’s normalization. Buyers have more choice. Sellers face more competition. Transactions continue, but with greater balance and less urgency than in previous years. Although anecdotally, there has been an increase in multiple offers in some areas and product types as buyers are starting to focus more, taking advantage of the conditions that favour them. 

City of Vancouver: Stable, Competitive, and Balanced

Vancouver Westside

The Westside held steady in April. Sales were essentially unchanged month-over-month, while inventory increased and months of supply ticked up to 8 months. Despite this, the market remains highly functional. The sales-to-listings ratio at 30% reflects consistent absorption, even as new listings rise. Notably, inventory remains below last year’s levels, reinforcing that supply is still being managed effectively.

This is a market adjusting, not weakening.

Vancouver East Side

The East Side continues to demonstrate resilience. Sales rose 12% from March and are now above last year’s levels. Months of supply stayed steady at 7 months, maintaining balanced conditions. While inventory increased, demand followed. This remains one of the most stable submarkets in the region, supported by strong end-user demand and relative affordability.

North Shore

North Vancouver recorded 178 sales, down from March but up 32% from February and maintaining balanced market conditions with 6 months of supply. West Vancouver delivered one of the most impressive year-over-year performances anywhere in the region — 51 sales, up 34% versus April 2025 and up 55% versus February. The sales-to-listings ratio of 21% has improved significantly from 14% in April 2025, and active listings have contracted 6% year-over-year.

Richmond

Richmond's spring rebound is one of the standout stories of April. With 245 sales, the city posted gains of 17% versus March and 15% versus April 2025. The month's supply of 8 (down from 9 months in March) reflects improving absorption, and the 35% sales-to-listings ratio is the highest in several months. The 71% surge in sales from February could be the start of a sustained upswing.

Burnaby

Burnaby's three sub-areas presented a largely positive picture. Burnaby East's 49% sales-to-listings ratio and 6-month supply (balanced market) underscore strong localized demand, with sales up 25% both month-over-month and year-over-year. Burnaby North's 135 sales and 38% sales-to-listings ratio represent steady performance, while Burnaby South, with 92 sales, continues to see healthy new listing activity that is expanding buyer choice.

New Westminster

New Westminster remains steady. Sales increased modestly, and months of supply held at 7 months. This market continues to operate within a narrow, stable range—an indicator of strong underlying fundamentals.

Trice Cities and Beyond

Coquitlam (183 sales), Port Moody (54 sales), and Port Coquitlam (60 sales) all maintained balanced market conditions. Port Moody's 6% year-over-year gain in sales is a positive note. Pitt Meadows remains one of the tightest markets in the region, with a 41% sales-to-listings ratio and just 5 months of supply, conditions that favour sellers. Maple Ridge's 15% surge in new listings versus March signals a healthy influx of inventory entering its spring market.

Delta Markets

Ladner was the standout performer year-over-year in this area, with sales more than doubling (+106%) versus April 2025. The 43% sales-to-listings ratio and 6 months of supply reflect balanced, active conditions. Tsawwassen's month's supply improved to 9 months from 10, with sales up 13% from March, a constructive trend. Both communities benefit from relative affordability compared to Vancouver proper.

Fraser Valley Shows Strength in the Valley

The Fraser Valley market showed more strength than Greater Vancouver with sales ahead of both March this year and April last year. And while supply remained at relatively similar levels for the activity, the increase in listings still saw the Fraser Valley sit with 9 months’ supply of listings. Sales were up 11% over March and 7% over April of last year. There were 1,118 sales in April compared to 1,007 in March and 1,043 in April 2025. Detached sales were up the most in April year-over-year with 25% more homes sold, compared to townhomes up 4% and apartments down 14% to last year. That kind of improvement in detached home sales shows confidence in the market that we haven’t seen in some time.  

The Big Picture: Supply Leading, Demand Following

April introduces a subtle but important shift in the market dynamic: Supply is now leading the conversation.

After months of demand-driven recovery, the increase in listings is beginning to shape conditions more directly. But unlike past cycles, this shift is not creating instability. Instead, it’s reinforcing balance.

• Sales are still rising 

• Inventory is expanding 

• Absorption remains steady 

• Market conditions are adjusting gradually—not abruptly 

This is a sign of a market that wants to move forward.

With interest rates remaining stable, affordability pressures gradually easing, and continued pent-up demand across Metro Vancouver, the foundation for continued market activity through spring and summer remains constructive and opportunistic. Buyers benefit from the expanded inventory and balanced conditions in most communities, while sellers in tighter submarkets, particularly North Vancouver, Burnaby, Tri-Cites, and Pitt Meadows, remain in a more favourable position.

Overall, April 2026 reinforced the narrative of a real estate market returning to health: active, improving, and full of opportunity across Metro Vancouver's diverse communities.

Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in April were 2,110, up from 2,032 (4%) in March, up from 1,648 (28%) in February, down from 2,163 (2%) in April 2025, down from 2,831 (25%) in April 2024, and down from 2,741 (23%) in April 2023; Active Listings were at 16,236 at month end compared to 16,207 at that time last year (basically flat) and 14,774 at the end of March (up 10%); the 6,817 New Listings in April were up 15% compared to March, up 41% compared to February, down 2% compared to April 2025, down 6% compared to April 2024 and up 55% compared to April 2023. Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 31% compared to 34% in March, 34% in February, 31% in April 2025, 39% in April 2024 and 62% in April 2023. 

Vancouver Westside: Total Units Sold in April were 365, down from 367 (1%) in March, up from 298 (22%) in February, down from 427 (15%) in April 2025, down from 471 (23%) in April 2024, and down from 468 (22%) in April 2023; Active Listings were at 2,921 at month end compared to 3,306 at that time last year (down 12%) and 2,676 at the end of March (up 9%); the 1,234 New Listings in April were up 16% compared to March, up 42% compared to February, down 6% compared to April 2025, down 18% compared to April 2024 and up 47% compared to April 2023. Month’s supply of total residential listings is up to 8 months from 7 (buyer’s market conditions) and sales to listings ratio of 30% compared to 34% in March, 34% in February, 33% in April 2025, 31% in April 2024 and 56% in April 2023.

Vancouver East Side: Total Units Sold in April were 258, up from 231 (12%) in March, up from 220 (17%) in February, up from 242 (7%) in April 2025, down from 349 (26%) in April 2024, and down from 267 (3%) in April 2023; Active Listings were at 1,719 at month end compared to 1,658 at that time last year (up 4%) and 1,530 at the end of March (up 12%); the 848 New Listings in April were up 25% compared to March, up 62% compared to February, up 16% compared to April 2025, down 1% compared to April 2024 and up 76% compared to April 2023. Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 30% compared to 34% in March, 42% in February, 33% in April 2025, 41% in April 2024 and 55% in April 2023.

North Vancouver: Total Units Sold in April were 178, down from 185 (4%) in March, up from 135 (32%) in February, down from 204 (13%) in April 2025, down from 248 (28%) in April 2024, and down from 218 (18%) in April 2023; Active Listings were at 1,089 at month end compared to 1,016 at that time last year (up 7%) and 939 at the end of March (up 16%); the 589 New Listings in April were up 18% compared to March, up 47% compared to February, down 7% compared to April 2025, down 2% compared to April 2024 and up 77% compared to April 2023. Month’s supply of total residential listings is up to 6 months from 5 (balanced market conditions) and sales to listings ratio of 30% compared to 37% in March, 34% in February, 32% in April 2025, 41% in April 2024 and 66% in April 2023.

West Vancouver: Total Units Sold in April were 51, up from 46 (11%) in March, up from 33 (55%) in February, up from 38 (34%) in April 2025, down from 70 (27%) in April 2024, and down from 69 (26%) in April 2023; Active Listings were at 675 at month end compared to 718 at that time last year (down 6%) and 636 at the end of March (up 6%); the 248 New Listings in April were up 16% compared to March, up 56% compared to February, down 11% compared to April 2025, down 16% compared to April 2024 and up 35% compared to April 2023. Month’s supply of total residential listings is down to 13 months from 14 (buyer’s market conditions) and sales to listings ratio of 21% compared to 21% in March, 21% in February, 14% in April 2025, 24% in April 2024 and 38% in April 2023.

Richmond: Total Units Sold in April were 245, up from 209 (17%) in March, up from 143 (71%) in February, up from 213 (15%) in April 2025, down from 336 (27%) in April 2024, and down from 338 (28%) in April 2023; Active Listings were at 1,975 at month end compared to 1,908 at that time last year (up 4%) and 1,891 up at the end of March (up 4%); the 709 New Listings in April were up 4% compared to March, up 38% compared to February, down 4% compared to April 2025, down 8% compared to April 2024 and up 40% compared to April 2023. Month’s supply of total residential listings is down to 8 months from 9 (buyer’s market conditions) and sales to listings ratio of 35% compared to 31% in March, 28% in February, 29% in April 2025, 44% in April 2024 and 67% in April 2023.

Burnaby East: Total Units Sold in April were 30, up from 24 (25%) in March, up from 19 (58%) in February, up from 24 (25%) in April 2025, the same as April 2024, and down from 34 (12%) in April 2023; Active Listings were at 172 at month end compared to 201 at that time last year (down 14%) and 182 at the end of March (down 5%); the 61 New Listings in April were down 23% compared to March, down 12% compared to February, down 30% compared to April 2025, down 8% compared to April 2024 and up 45% compared to April 2023. Month’s supply of total residential listings is down to 6 months from 8 (balanced market conditions) and sales to listings ratio of 49% compared to 30% in March, 28% in February, 28% in April 2025, 45% in April 2024 and 81% in April 2023.

Burnaby North: Total Units Sold in April were 135, up from 118 (14%) in March, up from 97 (39%) in February, down from 140 (4%) in April 2025, down from 162 (17%) in April 2024, and down from 176 (23%) in April 2023; Active Listings were at 869 at month end compared to 940 at that time last year (down 8%) and 830 at the end of March (up 5%); the 360 New Listings in April were up 2% compared to March, up 27% compared to February, down 11% compared to April 2025, down 23% compared to April 2024 and up 36% compared to April 2023. Month’s supply of total residential listings is down to 6 months from 7 (balanced market conditions) and sales to listings ratio of 38% compared to 33% in March, 34% in February, 35% in April 2025, 35% in April 2024 and 67% in April 2023.

Burnaby South: Total Units Sold in April were 92, down from 95 (3%) in March, up from 85 (8%) in February, down from 97 (5%) in April 2025, down from 143 (36%) in April 2024, and down from 215 (57%) in April 2023; Active Listings were at 821 at month end compared to 754 at that time last year (up 9%) and 722 at the end of March (up 14%); the 340 New Listings in April were up 17% compared to March, up 16% compared to February, up 5% compared to April 2025, up 4% compared to April 2024 and up 27% compared to April 2023. Month’s supply of total residential listings is up to 9 months from 8 (buyer’s market conditions) and sales to listings ratio of 27% compared to 33% in March, 40% in February, 30% in April 2025, 44% in April 2024 and 81% in April 2023.

New Westminster: Total Units Sold in April were 86, up from 76 (13%) in March, up from 76 (13%) in February, down from 87 (1%) in April 2025, down from 105 (18%) in April 2024, and down from 113 (24%) in April 2023; Active Listings were at 635 at month end compared to 582 at that time last year (up 9%) and 567 at the end of March (up 12%); the 6,817 New Listings in April were up 31% compared to March, up 31% compared to February, up 7% compared to April 2025, up 20% compared to April 2024 and up 84% compared to April 2023. Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 29% compared to 33% in March, 33% in February, 31% in April 2025, 42% in April 2024 and 70% in April 2023.

Coquitlam: Total Units Sold in April were 183, down from 190 (4%) in March, up from 163 (12%) in February, down from 189 (3%) in April 2025, down from 238 (23%) in April 2024, and down from 210 (13%) in April 2023; Active Listings were at 1,331 at month end compared to 1,325 at that time last year (flat to last year) and 1,212 at the end of March (up 10%); the 602 New Listings in April were up 16% compared to March, up 44% compared to February, down 4% compared to April 2025, up 10% compared to April 2024 and up 78% compared to April 2023. Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 30% compared to 36% in March, 39% in February, 30% in April 2025, 43% in April 2024 and 62% in April 2023.

Port Moody: Total Units Sold in April were 54, down from 58 (7%) in March, up from 36 (50%) in February, down from 51 (6%) in April 2025, down from 73 (26%) in April 2024, and down from 91 (41%) in April 2023; Active Listings were at 371 at month end compared to 343 at that time last year (up 8%) and 343 at the end of March (up 8%); the 169 New Listings in April were down 2% compared to March, up 25% compared to February, down 8% compared to April 2025, up 5% compared to April 2024 and up 69% compared to April 2023. Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 32% compared to 34% in March, 27% in February, 28% in April 2025, 45% in April 2024 and 91% in April 2023.

Port Coquitlam: Total Units Sold in April were 60, up from 53 (13%) in March, up from 46 (30%) in February, down from 70 (14%) in April 2025, down from 102 (41%) in April 2024, and down from 76 (21%) in April 2023; Active Listings were at 421 at month end compared to 353 at that time last year (up 19%) and 354 at the end of March (up 19%); the 207 New Listings in April were up 15% compared to March, up 107% compared to February, up 5% compared to April 2025, up 9% compared to April 2024 and up 165% compared to April 2023. Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 29% compared to 29% in March, 46% in February, 36% in April 2025, 54% in April 2024 and 97% in April 2023.

Pitt Meadows: Total Units Sold in April were 30, down from 31 (3%) in March, up from 13 (131%) in February, up from 27 (11%) in April 2025, down from 32 (6%) in April 2024, and up from 27 (11%) in April 2023; Active Listings were at 153 at month end compared to 122 at that time last year (up 25%) and 142 at the end of March (up 8%); the 72 New Listings in April were down 6% compared to March, up 4% compared to February, up 16% compared to April 2025, up 26% compared to April 2024 and up 33% compared to April 2023. Month’s supply of total residential listings is steady at 5 months (balanced market conditions) and sales to listings ratio of 41% compared to 40% in March, 18% in February, 43% in April 2025, 56% in April 2024 and 50% in April 2023.          

Maple Ridge: Total Units Sold in April were 117, down from 126 (7%) in March, up from 105 (11%) in February, down from 127 (8%) in April 2025, down from 191 (39%) in April 2024, and down from 161 (27%) in April 2023; Active Listings were at 937 at month end compared to 920 at that time last year (up 1%) and 814 at the end of March (up 15%); the 390 New Listings in April were up 27% compared to March, up 40% compared to February, up 2% compared to April 2025, down 11% compared to April 2024 and up 52% compared to April 2023. Month’s supply of total residential listings is up to 8 months from 6 (buyer’s market conditions) and sales to listings ratio of 30% compared to 41% in March, 37% in February, 33% in April 2025, 43% in April 2024 and 62% in April 2023.

Ladner: Total Units Sold in April were 33, down from 35 (6%) in March, up from 26 (27%) in February, up from 16 (106%) in April 2025, the same as April 2024, and down from 43 (23%) in April 2023; Active Listings were at 188 at month end compared to 178 at this time last year (up 6%) and 168 at the end of March (up 12%); the 77 New Listings in April were up 1% compared to March, up 28% compared to February, the same as April 2025, down 3% compared to April 2024 and up 33% compared to April 2023. Month’s supply of total residential listings is up to 6 months from 5 (balanced market conditions) and sales to listings ratio of 43% compared to 46% in March, 43% in February, 21% in April 2025, 42% in April 2024 and 74% in April 2023.

Tsawwassen: Total Units Sold in April were 34, up from 30 (13%) in March, up from 27 (26%) in February, down from 40 (15%) in April 2025, down from 51 (33%) in April 2024, and down from 54 (37%) in April 2023; Active Listings were at 317 at month end compared to 306 at that time last year (up 4%) and 297 at the end of March (up 7%); the 109 New Listings in April were up 24% compared to March, up 11% compared to February, down 13% compared to April 2025, up 2% compared to April 2024 and up 47% compared to April 2023. Month’s supply of total residential listings is down to 9 months from 10 (buyer’s market conditions) and sales to listings ratio of 31% compared to 34% in March, 28% in February, 32% in April 2025, 48% in April 2024 and 73% in April 2023.

Fraser Valley: Sales in April were up 11% at 1,118 compared to March at 1,007 and were up 7% from April 2025 at 1,043. New listings were up 6% at 3,549 from March at 3,341 and down 6% from April 2025 at 3,762. The average price of $975,305 was down 0.8% month-over-month and was up 1.4% year-over-year. Active listings at 9,816 were down 2% compared to last month at 10,046 and up 7% from April 2025 at 9,201. Month’s supply of total residential listings is steady at 9 months (buyer’s market conditions).
 

Highlights of Dexter’s March 2026 report
 

• Significant gains in sales since January

• Inventory rising, but improving absorption keeps market balanced

• Balanced conditions expanding across most Metro Vancouver submarkets

• Suburbs showing more confidence

March Market Overview: Momentum Returns, Balance Builds, and Opportunity Expands

As we moved into spring, the real estate market in March showed acceleration with discipline. Across Greater Vancouver, the story is no longer about volatility or extremes. It’s about structure. It’s about a market that is finding its footing after several years of disruption and is now transitioning into a more sustainable, opportunity-rich environment for both buyers and sellers. The data from March reinforces a trend that has been building since the start of the year, momentum is returning, and it’s doing so on a healthier, more balanced foundation.

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, buyers need to be ready.

The result is a market that is firmly in balanced territory. Months of supply tightened from 8 to 7, 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 10-year average after February was 29% below the 10-year average and January was 31% below the 10-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 4 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 10-year average after February was 7% above the 10-year average, and January 19% above the 10-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 7. 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 7 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 5, 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 VancouverWest 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.
RichmondRichmond posted a strong 46% increase in sales month-over-month, alongside rising new listings. Months of supply improved from 12 to 9 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.BurnabyBurnaby 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 7 months, firmly balanced. 

• Burnaby South held steady with 8 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 ShiftNew WestminsterNew Westminster held steady in March, maintaining balanced conditions with 7 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.CoquitlamCoquitlam continues to show strong underlying demand. Sales increased 17% from February but a whopping 113% from January, and months of supply tightened to 6 months.This market is now firmly balanced and edging toward competitive conditions, supported by continued population growth and transit-driven development.Port MoodyPort Moody saw one of the stronger month-over-month gains, with sales up 61% and months of supply dropping to 6 months.Lifestyle-driven demand remains a key factor here, and improving absorption suggests buyers are stepping in with confidence.Port CoquitlamPort Coquitlam remains balanced, though absorption softened slightly compared to February. Still, months of supply remained at 7 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 10 to 5 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 6. 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 5 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 10 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 9 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 10 months in February to 9 months in March which was the same as 9 months in March 2025. Improvement in the Fraser Valley is happening.
What Comes Next

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.

Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in March were 2,032, up from 1,648 (23%) in February, up from 1,107 (84%) in January, down from 2,091 (3%) in March 2025, down from 2,415 (16%) in March 2024, and down from 2,535 (20%) in March 2023; Active Listings were at 14,774 at month end compared to 14,546 at that time last year (up 2%) and 13,545 at the end of February (up 9%); the 5,920 New Listings in March were up 23% compared to February, up 13% compared to January, down 10% compared to March 2025, up 16% compared to March 2024 and up 34% compared to March 2023.

Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 34% compared to 34% in February, 21% in January, 32% in March 2025, 47% in March 2024 and 57% in March 2023. 

Vancouver Westside: Total Units Sold in March were 367 up from 298 (23%) in February, up from 190 (93%) in January, down from 394 (7%) in March 2025, down from 424 (13%) in March 2024, and down from 449 (18%) in March 2023; Active Listings were at 2,676 at month end compared to 3,093 at that time last year (down 13%) and 2,470 at the end of February (up 8%); the 1,067 New Listings in March were up 23% compared to February, up 16% compared to January, down 19% compared to March 2025, up 10% compared to March 2024 and up 15% compared to March 2023.

Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 34% compared to 34% in February, 21% in January, 30% in March 2025, 44% in March 2024 and 49% in March 2023.

Vancouver East Side: Total Units Sold in March were 231, up from 220 (5%) in February, up from 127 (82%) in January, down from 247 (6%) in March 2025, down from 285 (19%) in March 2024, and down from 287 (20%) in March 2023; Active Listings were at 1,530 at month end compared to 1,494 at that time last year (up 2%) and 1,391 at the end of February (up 10%); the 677 New Listings in March were up 29% compared to February, up 4% compared to January, down 8% compared to March 2025, up 13% compared to March 2024 and up 47% compared to March 2023.

Month’s supply of total residential listings is up to 7 months from 6 (balanced market conditions) and sales to listings ratio of 34% compared to 42% in February, 19% in January, 34% in March 2025, 48% in March 2024 and 62% in March 2023.

North Vancouver: Total Units Sold in March were 185, up from 135 (37%) in February, up from 92 (101%) in January, up from 171 (8%) in March 2025, down from 187 (1%) in March 2024, and down from 215 (14%) in March 2023; Active Listings were at 939 at month end compared to 844 at that time last year (up 11%) and 790 at the end of February (up 19%); the 501 New Listings in March were up 25% compared to February, up 23% compared to January, down 2% compared to March 2025, up 51% compared to March 2024 and up 36% compared to March 2023.

Month’s supply of total residential listings is down to 5 months from 6 (balanced market conditions) and sales to listings ratio of 37% compared to 34% in February, 23% in January, 33% in March 2025, 56% in March 2024 and 58% in March 2023.

West Vancouver: Total Units Sold in March were 46, up from 33 (39%) in February, up from 29 (59%) in January, up from 40 (15%) in March 2025, down from 53 (13%) in March 2024, and down from 64 (28%) in March 2023; Active Listings were at 636 at month end compared to 626 at that time last year (up 2%) and 581 at the end of February (up 9%); the 214 New Listings in March were up 35% compared to February, the same as January, down 4% compared to March 2025, up 14% compared to March 2024 and up 31% compared to March 2023.

Month’s supply of total residential listings is down to 14 months from 18 (buyer’s market conditions) and sales to listings ratio of 21% compared to 21% in February, 14% in January, 19% in March 2025, 28% in March 2024 and 39% in March 2023.

Richmond: Total Units Sold in March were 209, up from 143 (46%) in February, up from 129 (62%) in January, down from 220 (5%) in March 2025, down from 279 (25%) in March 2024, and down from 352 (41%) in March 2023; Active Listings were at 1,891 at month end compared to 1,728 at that time last year (up 9%) and 1,786 at the end of February (up 6%); the 681 New Listings in March were up 32% compared to February, up 14% compared to January, down 7% compared to March 2025, up 23% compared to March 2024 and up 42% compared to March 2023.

Month’s supply of total residential listings is down to 9 months from 12 (buyer’s market conditions) and sales to listings ratio of 31% compared to 28% in February, 22% in January, 30% in March 2025, 50% in March 2024 and 74% in March 2023.

Burnaby East: Total Units Sold in March were 24, up from 19 (26%) in February, up from 9 (167%) in January, down from 27 (11%) in March 2025, down from 32 (25%) in March 2024, and up from 20 (20%) in March 2023; Active Listings were at 182 at month end compared to 174 at that time last year (up 5%) and 162 at the end of February (up 12%); the 79 New Listings in March were up 14% compared to February, up 22% compared to January, down 7% compared to March 2025, up 49% compared to March 2024 and up 68% compared to March 2023.

Month’s supply of total residential listings is down to 8 months from 9 (buyer’s market conditions) and sales to listings ratio of 30% compared to 28% in February, 14% in January, 32% in March 2025, 60% in March 2024 and 43% in March 2023.


Burnaby North: Total Units Sold in March were 118, up from 97 (22%) in February, up from 80 (48%) in January, up from 107 (10%) in March 2025, up from 109 (8%) in March 2024, and down from 169 (30%) in March 2023; Active Listings were at 830 at month end compared to 878 at that time last year (down 5%) and 772 at the end of February (up 16%); the 353 New Listings in March were up 24% compared to February, up 3% compared to January, down 17% compared to March 2025, up 16% compared to March 2024 and up 48% compared to March 2023.

Month’s supply of total residential listings is down to 7 months from 8 (balanced market conditions) and sales to listings ratio of 33% compared to 34% in February, 23% in January, 25% in March 2025, 36% in March 2024 and 71% in March 2023.

Burnaby South: Total Units Sold in March were 95, up from 85 (12%) in February, up from 67 (42%) in January, down from 94 (1%) in March 2025, down from 142 (33%) in March 2024, and down from 130 (27%) in March 2023; Active Listings were at 722 at month end compared to 671 at that time last year (up 8%) and 643 at the end of February (up 12%); the 291 New Listings in March were up 35% compared to February, up 14% compared to January, up 2% compared to March 2025, up 19% compared to March 2024 and up 22% compared to March 2023.

Month’s supply of total residential listings is steady at 8 months (buyer’s market conditions) and sales to listings ratio of 33% compared to 40% in February, 26% in January, 33% in March 2025, 58% in March 2024 and 55% in March 2023.

New Westminster: Total Units Sold in March were 76, the same as February, up from 48 (58%) in January, down from 104 (27%) in March 2025, down from 108 (30%) in March 2024, and down from 96 (21%) in March 2023; Active Listings were at 567 at month end compared to 513 at that time last year (up 11%) and 515 at the end of February (up 10%); the 228 New Listings in March were the same as February, up 4% compared to January, down 15% compared to March 2025, up 8% compared to March 2024 and up 62% compared to March 2023.

Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 33% compared to 33% in February, 22% in January, 39% in March 2025, 51% in March 2024 and 68% in March 2023.

Coquitlam: Total Units Sold in March were 190, up from 163 (17%) in February, up from 89 (113%) in January, down from 233 (18%) in March 2025, down from 235 (19%) in March 2024, and down from 196 (3%) in March 2023; Active Listings were at 1,212 at month end compared to 1,173 at that time last year (up 3%) and 1,116 at the end of February (up 9%); the 521 New Listings in March were up 25% compared to February, up 16% compared to January, down 12% compared to March 2025, up 23% compared to March 2024 and up 70% compared to March 2023.

Month’s supply of total residential listings is down to 6 months from 7 (balanced market conditions) and sales to listings ratio of 36% compared to 39% in February, 20% in January, 39% in March 2025, 55% in March 2024 and 64% in March 2023.

Port Moody: Total Units Sold in March were 58, up from 36 (61%) in February, up from 25 (132%) in January, down from 51 (14%) in March 2025, down from 45 (29%) in March 2024, and down from 80 (27%) in March 2023; Active Listings were at 343 at month end compared to 279 at that time last year (up 23%) and 308 at the end of February (up 11%); the 172 New Listings in March were up 27% compared to February, up 19% compared to January, down 13% compared to March 2025, up 64% compared to March 2024 and up 51% compared to March 2023.

Month’s supply of total residential listings is down to 6 months from 9 (balanced market conditions) and sales to listings ratio of 34% compared to 27% in February, 17% in January, 34% in March 2025, 43% in March 2024 and 70% in March 2023.

Port Coquitlam: Total Units Sold in March were 53, up from 46 (15%) in February, up from 28 (89%) in January, down from 62 (15%) in March 2025, down from 89 (40%) in March 2024, and down from 69 (23%) in March 2023; Active Listings were at 354 at month end compared to 313 at that time last year (up 13%) and 309 at the end of February (up 15%); the 180 New Listings in March were up 80% compared to February, up 7% compared to January, up 2% compared to March 2025, up 29% compared to March 2024 and up 42% compared to March 2023.

Month’s supply of total residential listings is steady at 7 months (balanced market conditions) and sales to listings ratio of 29% compared to 46% in February, 17% in January, 35% in March 2025, 64% in March 2024 and 54% in March 2023.

Pitt Meadows: Total Units Sold in March were 31, up from 13 (138%) in February, up from 9 (244%) in January, up from 27 (14%) in March 2025, up from 29 (7%) in March 2024, and up from 28 (11%) in March 2023; Active Listings were at 142 at month end compared to 105 at that time last year (up 35%) and 128 at the end of February (up 11%); the 77 New Listings in March were up 12% compared to February, up 45% compared to January, down 16% compared to March 2025, up 83% compared to March 2024 and up 79% compared to March 2023.

Month’s supply of total residential listings is down to 5 months from 10 (balanced market conditions) and sales to listings ratio of 40% compared to 18% in February, 16% in January, 40% in March 2025, 69% in March 2024 and 65% in March 2023.      
    
Maple Ridge: Total Units Sold in March were 126, up from 105 (20%) in February, up from 72 (75%) in January, up from 108 (16%) in March 2025, down from 187 (33%) in March 2024, and down from 149 (15%) in March 2023; Active Listings were at 814 at month end compared to 832 at that time last year (down 2%) and 769 at the end of February (up 6%); the 306 New Listings in March were up 10% compared to February, up 10% compared to January, down 13% compared to March 2025, down 17% compared to March 2024 and up 12% compared to March 2023.

Month’s supply of total residential listings is down to 6 months from 7 (balanced market conditions) and sales to listings ratio of 41% compared to 37% in February, 25% in January, 30% in March 2025, 35% in March 2024 and 32% in March 2023.

Ladner: Total Units Sold in March were 35, up from 26 (35%) in February, up from 5 (600%) in January, up from 31 (13%) in March 2025, up from 30 (17%) in March 2024, and down from 38 (8%) in March 2023; Active Listings were at 168 at month end compared to 158 at that time last year (up 6%) and 154 at the end of February (up 9%); the 76 New Listings in March were up 27% compared to February, up 6% compared to January, up 12% compared to March 2025, up 43% compared to March 2024 and up 10% compared to March 2023.

Month’s supply of total residential listings is down to 5 months from 6 (balanced market conditions) and sales to listings ratio of 46% compared to 43% in February, 7% in January, 46% in March 2025, 57% in March 2024 and 55% in March 2023.

Tsawwassen: Total Units Sold in March were 30, up from 27 (11%) in February, up from 19 (58%) in January, down from 36 (17%) in March 2025, down from 34 (12%) in March 2024, and down from 35 (14%) in March 2023; Active Listings were at 297 at month end compared to 270 at that time last year (up 10%) and 275 at the end of February (up 8%); the 88 New Listings in March were down 10% compared to February, the same as January, down 11% compared to March 2025, up 24% compared to March 2024 and up 7% compared to March 2023.

Month’s supply of total residential listings is steady at 10 months (buyer’s market conditions) and sales to listings ratio of 34% compared to 28% in February, 22% in January, 36% in March 2025, 48% in March 2024 and 43% in March 2023.

Fraser Valley: Sales in March were up 20% at 1,007 compared to February at 843 and were down 3% from March 2025 at 1,036. New listings were up 20% at 3,341 from February at 2,796 and down 12% from March 2025 at 3,800. The average price of $962,167 was up 5% month-over-month and was down 6% year-over-year. Active listings at 9,201 were up 10% compared to last month at 8,344 and down 0.2% from March 2025 at 9,219.

Month’s supply of total residential listings is down to 9 months supply from 10 in February (buyer’s market conditions).