March Real Estate Report

March Statistics

  • 5% fewer homes sold in Greater Vancouver compared to March 2023

  • 15% more homes were listed for sale compared to March 2023

  • Spring Break turned into a real estate break

  • Burnaby North sees a surge in new condo listings

Spring break took some of the life out of the real estate market this year, especially with Easter at the end. At the mid-point of the month, there were 3,000 new listings which was on target to bring on 6,000 for the first time since the spring of 2022. With only 5,112 at the end of March, it appears a break was indeed what many took. That 6,000 number could come in April though as this pent-up real estate market continues to simmer with many waiting to act. Buyers were also more absent in the last half as the month finished with 2,415 sales – down from the 2,535 sales in March 2023. At the mid-point of March, there were 1,300 sales, the last half decline was evident in the final numbers. Expect buyers and sellers to get back to the market with more urgency with April upon us.

A beautiful month to go shopping! Let’s see what’s out there!

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