Greater Vancouver Housing Snapshot — March 19: Transactions Rising, Prices Still Under Pressure

Recent market data for Greater Vancouver shows a pickup in activity, but it does not yet represent a broad-based rebound in home prices. The sales-to-new-listings ratio (SNLR) sits at 33.9%, indicating more deals are getting done than before, even though inventory and price expectations still exert downward pressure in many segments.

What’s driving the change is an improvement in the mechanics of transactions rather than across-the-board bidding wars. Properties that are priced in line with current buyer expectations and are easier to market and finance are moving more quickly. At the same time, there remains a noticeable gap between sellers’ original asking prices and the amounts buyers are willing to pay—meaning many homes still sell below list.

For buyers this is a useful environment. Increased transaction activity gives more choice and negotiating leverage for purchasers who focus on realistically priced homes. Buyers should continue to shop with a clear view of comparable sales and be prepared to negotiate; properties that meet market expectations are the ones most likely to attract multiple offers. Financing discipline remains important—lenders are still applying strict underwriting standards, so securing pre-approval and understanding monthly carrying costs should be priorities.

Sellers face a more conditional market. Homes that are marketed at or above optimistic asking prices often require price adjustments or longer times on market before attracting qualified offers. Sellers who want to maximize proceeds should work with agents to set competitive initial prices, invest in basic presentation and target marketing to the most likely buyer pool. In many cases, a realistic asking price will translate into a faster sale and better overall net proceeds than holding out for an elusive top-dollar offer.

Landlords and investors need to balance rental yield and capital expectations. Transaction liquidity appears concentrated in segments that are easier to finance and appeal to local buyers—typically entry-level condos and well-priced townhomes. Higher-end or speculative properties are less liquid and may trade at wider discounts. Investors should stress-test acquisitions against longer vacancy periods, potential maintenance costs and changing interest rates. For existing landlords considering selling, the current market may favour selling well-priced units while being cautious about listing premium properties.

Overall, the current pattern points to a market that is healing in terms of activity but remains sensitive to price. Increased sales are a positive sign, but the underlying dynamic is one of selective demand rather than a broad recovery in valuations.

What this means in BC

For British Columbia residents, the upturn in transactions offers opportunities—but with caveats. Buyers can find more realistic options and bargaining power, while sellers need to be pragmatic about pricing. Landlords and investors should prioritize cashflow and conservative underwriting. Policymakers and market watchers will be watching whether the rising transaction rate continues and whether price expectations on either side start to converge. For now, expect steady but cautious activity: more deals getting done, but still no generalised surge in prices across Greater Vancouver.