The housing market in British Columbia is facing significant challenges, with a clear decline in sales activity across the province. The British Columbia Real Estate Association reported a noticeable drop in sales during February, with just over 4,500 residential units sold—representing a decrease of about 10% compared to the same period last year.
On the other hand, data from the association’s report indicates that total residential sales volume since the beginning of the year has fallen by 17.8%, reaching $7.3 billion compared to the same period in 2025. Additionally, the number of residential units sold declined by 15.8% to settle at 7,832 units, while the average listed property price dropped by 2.4% to $929,323.
According to the report’s details, Powell River recorded the sharpest decline, with sales falling by 35% compared to last year. Chilliwack saw a similar trend, followed by the Kootenay Region, where sales dropped by 29%. Meanwhile, Greater Vancouver recorded just over 1,600 units sold last month, marking a decline of about 9% compared to the same period last year.
In a statement, the chief economist at the British Columbia Real Estate Association, Brendon Ogmundson, expressed cautious optimism about the market’s future. He said: “We hope that improving affordability conditions and price stability will help boost demand and encourage potential buyers to enter the market, ultimately driving stronger sales activity during the current year.”
