"In March, the presale market saw more activity than expected, with five new projects launching, the highest for a single month so far this year, though this is still down 50% from the five-year average of 10 projects and over 1,000 units. Despite this launch activity, only 17% of units sold, well below the typical March pace of over 35%. On the rental side, four project completions added 373 new units to the market, keeping on track with last month’s prediction, and bringing the year-to-date total to 12 completed projects and over 1,200 units delivered across Metro Vancouver."
- Melissa Nestoruk, Product Development Specialist, MLA Canada.
Spring Activity Emerges, But Buyers Hold the Line
Seasonal momentum is beginning to take shape with an increase in presale launches, though activity remains well below historical averages. Despite improved supply, demand has yet to follow—highlighting ongoing consumer hesitation and the need for stronger incentives to drive conversion.
On the rental side, steady delivery continues, with leasing expected to accelerate as spring mobility improves.
More Projects, Fewer Buyers: A Disconnect in Presale Momentum
March marked the most active launch month of the year to date, yet absorption lagged significantly at just 17% sold—well below typical seasonal benchmarks.
Projects that are succeeding, like Stirling Block, are doing so through a combination of strong pricing, product positioning, and trusted developer reputation. Overall, the market remains highly selective, with buyers responding only to clear value.
Supply Lands, But Leasing Trails: Rentals Seek Seasonal Lift
Purpose-built rental completions continue to deliver new inventory at a steady pace, but leasing activity remains slow at just 8% absorbed in March.
Well-amenitized, efficiently designed projects are setting the tone, though broader leasing momentum is expected to build alongside improved weather and tenant mobility in the coming months.
Inventory Expands as Pricing Adjusts to a More Balanced Market
Resale activity has shown signs of recovery month-over-month, but remains below long-term averages. Elevated inventory levels are shifting leverage toward buyers, particularly in the condo segment.
Prices continue to trend downward year-over-year, though monthly stabilization suggests the market is gradually finding its footing in a more balanced, cautious environment.
Coming soon! Stay tuned for our fully comprehensive overview of the macroeconomics, presale, and resale market video report in the April edition of The Pulse.