We're bringing tailored local data to your inbox every month. March saw an uptick in sales, consistent with typical seasonal trends as buyer activity increases heading into the spring market. With sales levels currently tracking in line with 2026 forecasts, the market may be on course for a year of below-average demand, elevated inventory, and gradual price stabilization.
On a positive note, my spidey sense tells me that the bottom is in, and sunnier days in the market lie ahead…
Richmond saw a noticeable increase in sales activity in March, with 207 homes sold, representing a 45% increase from last month and only a 6% decline from last year.
While average sales volume remains below previous norms, this increase in activity has helped lift the sales-to-active listings ratio across all property types to 11%.
March’s data suggests that while the market remains cautious, the early stages of the spring season have brought a modest increase in activity. With both buyers and sellers taking a more measured approach, the market continues to adjust gradually rather than shift abruptly.
Sales levels remain in line with current forecasts, pointing toward another year of below-average demand and elevated inventory levels. However, if this recent increase in activity continues and confidence improves, we could evolve into more balanced conditions as we move further into the year.
- Sean Lawson
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If you’ve enjoyed working with me and want to share your experience, I’d greatly appreciate a quick 5-star review. Reviews help others find trusted guidance when navigating the real estate market, an increasingly important factor in challenging times. As a small thank you for taking the time, I’ll send along a gift card once I’ve read your posted review! No further action required on your end; simply leave your review, and I’ll be in touch.
On a positive note, my spidey sense tells me that the bottom is in, and sunnier days in the market lie ahead…
Greater Vancouver: A Market in Holding Pattern
March home sales across Metro Vancouver remained relatively consistent with last year, though still below historical norms.
At the same time, total inventory levels remained elevated — up 1.6% year-over-year and still above long-term seasonal averages — though no longer near the peak levels seen throughout 2025.
The sales-to-active listings ratio improved to 14.2%, in part due to fewer new listings, suggesting the market is beginning to move closer to balanced conditions. This is particularly evident in the townhome segment, where the ratio rose to 17.2% in March. Historically, sustained periods below a 12% absorption rate tend to place downward pressure on home prices, while ratios above 20% for several months typically generate upward price momentum.
The sales-to-active listings ratio improved to 14.2%, in part due to fewer new listings, suggesting the market is beginning to move closer to balanced conditions. This is particularly evident in the townhome segment, where the ratio rose to 17.2% in March. Historically, sustained periods below a 12% absorption rate tend to place downward pressure on home prices, while ratios above 20% for several months typically generate upward price momentum.
Richmond Market Update: Early Signs of Stabilization
Richmond saw a noticeable increase in sales activity in March, with 207 homes sold, representing a 45% increase from last month and only a 6% decline from last year.
While average sales volume remains below previous norms, this increase in activity has helped lift the sales-to-active listings ratio across all property types to 11%.
Townhome activity continues to stand out, showing resilience in current market conditions and reinforcing ongoing demand for relatively more affordable family-oriented housing. The detached segment continues to face the most pressure, with the sales-to-active listing ratio remaining below 12% for the 15th consecutive month.
The MLS® HPI composite benchmark price in Richmond is now $1,058,100, down 8.4% year-over-year, but essentially unchanged month-over-month, possibly indicating early signs of price stabilization.
The MLS® HPI composite benchmark price in Richmond is now $1,058,100, down 8.4% year-over-year, but essentially unchanged month-over-month, possibly indicating early signs of price stabilization.
What This Means Moving Forward
March’s data suggests that while the market remains cautious, the early stages of the spring season have brought a modest increase in activity. With both buyers and sellers taking a more measured approach, the market continues to adjust gradually rather than shift abruptly.
Sales levels remain in line with current forecasts, pointing toward another year of below-average demand and elevated inventory levels. However, if this recent increase in activity continues and confidence improves, we could evolve into more balanced conditions as we move further into the year.
- Sean Lawson
Leave a 5-star review!
If you’ve enjoyed working with me and want to share your experience, I’d greatly appreciate a quick 5-star review. Reviews help others find trusted guidance when navigating the real estate market, an increasingly important factor in challenging times. As a small thank you for taking the time, I’ll send along a gift card once I’ve read your posted review! No further action required on your end; simply leave your review, and I’ll be in touch.
