March 2026 Market Update

Was that a turning point in March 2026? My professional perspective is that while the signs indicate a possible shift in the market, it is too early to tell. I like to focus on micro-market stats to really understand what is happening in a specific area and property type so let me know if you have a listing or specific area you want more information on and I can really dig into it.

Read on for more real estate stories and as always I’ve included links to additional information – or you can reach out directly if you have questions.

FRASER VALLEY MARKET SNAPSHOT
A description of the current Fraser Valley (FV) market is nuanced: It is still in buyer’s market territory, with benchmark prices down across the region between 7-9% compared to the same time last year depending on property type. The nuance? After 11 months of MONTHLY price decreases, March was the first month to break that trend and post a small increase (+0.3%) compared to February.

I’m carefully watching real-time numbers to see if this is a turning point.

In the meantime, here is a snapshot of the Fraser Valley Market.

MARKET SNAPSHOT – Abbotsford, Mission, Surrey

Below are the stats for three cities that I focus on, including benchmark pricing.

The Fraser Valley remains in Buyer’s Market territory with a combined Sales to Active Listing Ratio of 12.5% which was the result of higher sales and a levelling out of inventory levels. Market conditions are typically considered balanced when the ratio ranges between 12% to 20% for a sustained period.

Currently the Sales-to-Active Listing ratios in the Fraser Valley by property type are as follows:

Detached = 10.4%
Townhomes = 17.1%
Apartment condos = 13.3%

MORTGAGE MARKET CHANGES ARE WORKING!
I first wrote about Mortgage Insurance changes for first-time buyers in late 2024 – (You can read that post here).

Well these changes seem to be working and first-time buyers are taking advantage.

Click here to read more about the impact of these changes to our local market and reach out if you have questions on how you can also take advantage.

GST REBATE FOR FIRST-TIME BUYERS – NOW AVAILABLE!
You might remember I first wrote about the GST rebate in August 2025 – well it has now received royal ascent. Bill C-4, finally passed in March 2025. It provides a 100 per cent GST rebate for first-time home buyers on new homes valued at or below $1 million, saving you up to $50,000. This rebate applies to new builds or substantial renovations used as a primary residence, with partial rebates available for homes up to $1.5 million.

The First-time Home Buyers’ (FTHB) GST/HST rebate applies to houses purchased from a builder where the agreement was entered into on or after March 20, 2025, and before 2031, and construction is substantially completed before 2036. Here is where you can find more information – Click here.

HOW MUCH IS YOUR HOME WORTH IN 2026?

Online valuations tools can be helpful – but they’re often off by thousands of dollars. Here’s why:

• They can’t see upgrades or renovations
• They don’t account for condition
• They don’t understand micro-neighbourhood demand
• They rely on automated algorithms, not buyer behaviour
• They lag behind real-time market activity

Your home isn’t an algorithm – it’s a unique asset. A professional equity review looks at:

• Recent comparable sales
• Active competition
• Off-market trends
• Buyer demand levels
• Current mortgage balance (if shared)
• Estimated net proceeds if sold

It’s not about selling – it’s about knowing your financial position. If you’d like a personalized 2026 Home Equity Snapshot, I’m happy to prepare one for you – no obligation, just clarity.

Reach out for a personalized 2026 Home Equity Snapshot.

MARCH 18 BANK OF CANADA RATE DECISION:

The Bank of Canada maintained its overnight policy rate at 2.25% in its most recent rate decision. The next rate decision is scheduled for April 29th with most economists expecting the bank to hold rates at their current level through 2026 – although Global factors may change that forecast. For more information, check out this Mortgage Rate Forecast from BCREA. Click here

FEATURED LISTING

Something a little different this month. Instead of a featured residential unit, this month we feature this brand new office space located in North Vancouver.

If you have questions, text/email me or contact the listing agent directly. Click here for the details.

Address: 253 422 E 3RD STREET, NORTH VANCOUVER

MLS#: C8077047