CRASH OR THE NEW NORMAL?

It’s March 3rd, 2026, and everyone in Greater Vancouver is asking the exact same thing: Is our market finally crashing, or are we just looking at the 'New Normal'? We just got the February data, and it is a wake-up call for every homeowner in the city."

The numbers don’t lie. Sales just hit a near-historic low—nearly 29% below the 10-year average. Prices are down almost 7% year-over-year. For the first time in a long time, the 'Fear Of Missing Out' has been replaced by the 'Fear of Overpaying.' Buyers aren't rushing anymore—they’re waiting.

So, is it a crash? Not exactly. While inventory is up 37%, we aren't seeing 'panic selling.' Instead, we’re seeing a massive standoff. Sellers are stubborn—they're delisting rather than lowballing—while buyers are sitting on 2.25% interest rates, waiting for the 'perfect' bottom.

This is the New Normal. The days of 'list on Monday, sold by Tuesday with 10 offers' are gone. In March 2026, it’s taking an average of 40 days to sell a home in Burnaby or Vancouver. We’ve shifted from a speculative sprint to a marathon. It’s a market of patience, not a market of luck.

The bottom line? If you’re a buyer, you have the most leverage we’ve seen in years. If you’re a seller, your strategy has to change. Do you think we've hit the bottom yet? Let me know in the comments, and if you want to see the 'Sold' data for your specific street, just text or call me.

Mike Skvortsov Personal Real Estate Corporation.

One Percent Realty LTD.

cell 604-644-6430.

email: miskvortsov@gmail.com

www.FullServiceLessCommissions.ca