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STILHAVN REAL ESTATE SERVICES

THE STILHAVN REPORT • STILHAVN .COM

THE MARKET

March in Greater Vancouver arrived with all the signs of spring—cherry blossoms in full bloom, lively outdoor markets lining neighbourhood streets, and a fresh sense of energy as Vancouverites and BC residents welcomed the longer days. From the Vancouver Cherry Blossom Festival to the return of patio season, the city came alive with colour and connection. Amid this seasonal momentum, the real estate market told a more tempered story. Home sales registered on the MLS® in the Metro Vancouver1 for the month of March were the lowest going back to 2019 for the same month, while active listings continue to their upward trend. “If we can set aside the political and economic uncertainty tied to the new U.S. administration for a moment, buyers in Metro Vancouver haven’t seen market conditions this favourable in years. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers appear ready to engage — but so far, buyers have not shown up in the numbers we typically see at this time of year.” – Andrew Lis, REBGV director of economics and data analytics.

All market stats throughout this report are courtesy of Greater Vancouver REALTORS®. 1 Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.