If you’ve been waiting for the spring market to pick up, we’re starting to see some early signs of that — but conditions are still leaning in favour of buyers.

Here’s what happened in March. Across Greater Vancouver, sales finished 31% below the 10-year average, while active inventory climbed 33% and new listings were up about 4%. So overall, we’re still seeing supply outpace demand.

That said, the Months of Inventory dropped slightly again to 7.0, continuing a steady improvement from earlier in the year — but still well above the long-term average of 3.8, meaning buyers continue to have the upper hand.

Looking at property types, detached homes are sitting at 9.4 months of inventory, firmly in buyer’s market territory. Townhomes are around 5.3, and condos at 6.2, both closer to balanced conditions, however all these figures are also well above the 10-Year Averages.

On the North Shore, we’re seeing a similar story. In North Vancouver, detached and condo demand is still below historical averages, but we’re seeing more activity and competition for well-priced homes, especially in desirable price points. Townhomes have pulled back slightly, but with higher inventory levels, buyers still have options and negotiating power.

In West Vancouver, detached homes remain slower overall, but we did see improved absorption and more sales happening at or above asking, which is a positive shift. Condo activity also picked up, with stronger pricing behaviour despite lower overall volume.

Overall, the big theme right now is more activity, but still patient buyers. We’re seeing more people out at open houses, and especially more move-up buyers looking to take advantage of current conditions. If you’re thinking about making a move this year — whether buying or selling — this kind of market can actually create some really good opportunities. If you have questions about your situation or your specific neighbourhood, feel free to reach out — and I’ll keep you updated as the spring market unfolds.