A board report says there were 4,947 residential sales in the province last month, down 9.7% from the same time last year. 

Prices also fell 2.4% during that same period, with an average home costing just over $964,000 this year when it was $987,811 in 2024. 

The association’s chief economist, Brendon Ogmundson, says there had been several months of momentum before the uncertainty around tariffs emerged.

He says apprehension from potential buyers will continue amid the trade war, although that’s tempered by lower interest rates on the horizon. 

The association says the year-to-date dollar volume for home sales in B.C. is down 4.5% to $8.8 billion from the same period last year. 

This report by The Canadian Press was first published March 11, 2025.

brendon ogmundson british columbia british columbia real estate association home sales Regional tariffs The Canadian Press

Last modified: March 11, 2025