B.C. residential unit sales down almost 10%
Posted April 14, 2025 3:51 pm.
The downward trend in the B.C. real estate market continues: the number of home sales in the province has been falling drastically in 2025.
According to the BC Real Estate Association, this year’s March saw a 9.6 per cent drop in residential unit sales compared to last year’s numbers. The drop translates into a 13.9 per cent decrease in the province’s real estate market revenue, or $900 million.
The association says the decline is due to increased economic uncertainty driven by U.S.-imposed tariffs.
“Buyers continued to shift back to the sidelines in March,” said BCREA Chief Economist Brendon Ogmundson.
“The economic uncertainty surrounding potential tariffs on Canadian goods has some potential buyers hesitant, particularly in the province’s larger markets.”
In fact, that uncertainty has skyrocketed so much that sales were 35 per cent lower than the ten-year March average.
Prices in most markets in the province have fallen, especially in the biggest markets of Greater Vancouver, Fraser Valley, and Victoria. However, they have gone up in smaller markets, such as Vancouver Island and Northern B.C.
Currently, the residential average price across B.C. stands at $963,323 — a 4.8 per cent drop compared to last year’s price.
