BC Northern Real Estate Board

The number of homes sold through the MLS® System of the BC Northern Real Estate Board totaled 288 units in March 2026. This was a sharp decrease of 14% from March 2025.

Home sales were 13.8% below the five-year average and 15.6% below the 10-year average for the month of March.

On a year-to-date basis, home sales totaled 695 units over the first three months of the year. This was down by 8.7% from the same period in 2025.

“Home sales have softened over the past few months while inventories remained stable, leading to somewhat of a loosening of market conditions in our region,” said Victor Khong, Chair of the BC Northern Real Estate Board. “On a positive note, the province announced the opening of 40 new affordable homes in Prince Rupert in March. This project is part of a broader effort to fast-track housing in the region with federal support.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $425,700 in March 2026, a modest gain of 1.3% compared to March 2025.

The benchmark price for single-family homes was $443,200, nearly unchanged, up only 0.7% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $275,500, a minor decrease of 1% compared to a year earlier, while the benchmark apartment price was $249,400, a sizable gain of 24.3% from year-ago levels.

The average price of homes sold in March 2026 was $446,194, a minor increase of 2.1% from March 2025.

The more comprehensive year-to-date average price was $433,250, a moderate gain of 4.4% from the first three months of 2025.

The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available over a vast geographic area (the Board serves an area covering over 600,000 square kilometers or 72% of the province).

The dollar value of all home sales in March 2026 was $128.5 million, a substantial decline of 12.2% from the same month in 2025.

The number of new listings saw a decline of 5.3% from March 2025. There were 639 new residential listings in March 2026.

New listings were 0.7% above the five-year average and 3.1% above the 10-year average for the month of March.

Active residential listings numbered 1,542 units on the market at the end of March, down modestly by 3.5% from the end of March 2025.

Active listings were 3.4% above the five-year average and 7.7% below the 10-year average for the month of March.

Months of inventory numbered 5.4 at the end of March 2026, up from the 4.8 months recorded at the end of March 2025 and above the long-run average of 5.2 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.