Tariff Fears Sideline Buyers in March


Vancouver, BC – April 14, 2025. The British Columbia Real Estate Association (BCREA) reports that 5,917 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in March 2025, down 9.6 per cent from March 2024. The average MLS® residential price in BC in March 2025 was down 4.8 per cent at $963,323 compared to $1,011,965 in March 2024.


The total sales dollar volume was $5.7 billion, a 13.9 per cent decrease from the same time the previous year. BC MLS® unit sales were 35 per cent lower than the ten-year March average.

“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.”

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Year-to-date, BC residential sales dollar volume is down 8.1 per cent to $14.5 billion, compared with the same period in 2024. Residential unit sales are down 5.2 per cent year-over-year at 15,160 units, while the average MLS® residential price is also down 3.1 per cent to $959,400.

For more information, please contact:
Brendon Ogmundson
Chief Economist
Mobile: 604.505.6793
Email: bogmundson@bcrea.bc.ca

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*NOTES: The Okanagan Mainline Real Estate Board (OMREB) amalgamated with the South Okanagan Real Estate Board (SOREB) on January 1, 2021, to form the Association of Interior REALTORS©. In March 2022, the Association merged with the Kootenay and Kamloops real estate boards.

**The former Northern Lights Board, which was merged with SOREB in 2011, will now be called the South Peach River Region and is part of the new Association of Interior REALTORS©.

***Numbers may not add up due to rounding.

BCREA is the provincial association for BC REALTORS®. As a champion for the real estate sector, BCREA advances REALTOR® professionalism and ensures the REALTOR® voice is heard for the benefit of consumers and communities across BC. By working in collaboration with the province’s real estate boards and associations, our mission is to provide professional development opportunities, advocacy, economic and policy research, and standard forms so REALTORS® are trusted, respected, and proud of their profession.

For detailed statistical information, contact your local real estate board or association. MLS® is a cooperative marketing system used only by Canada’s real estate boards and associations to ensure maximum exposure of properties listed for sale.