February continues to reflect a quieter market, with activity still sitting below typical levels for this time of year. That said, this period often sets the tone for spring, and we’re starting to see early signs of that shift.

What we’re seeing overall

• The market is still in a slower, winter pattern

• Buyers are active, but moving thoughtfully and without urgency

• Some sellers are preparing for spring, though many are holding off

• This kind of market tends to bring more clarity around pricing and expectations

Sales activity

• 1,648 homes sold in February

• Down 9.8% compared to last year

• Sitting 28.7% below the 10-year seasonal average

• The slower pace of sales is becoming more consistent month to month

Listing activity

• 4,734 new listings added in February

• Down 6.4% from last year

• Still slightly above the 10-year average

• Fewer new listings are coming from the apartment segment in particular

Supply and demand

• Overall sales-to-active listings ratio: 12.6%

• Detached homes: 9% (more buyer-favoured conditions)

• Townhomes: 16.6%

• Apartments: 14.1%

• Markets tend to see downward price pressure below 12%, and upward pressure above 20%

Prices by property type

• Detached: $1,835,900

  • Down 8.8% year-over-year

  • Down 0.8% compared to January

• Apartments: $708,200

  • Down 6.8% year-over-year

  • Up 0.5% month-over-month

• Townhomes: $1,046,100

  • Down 5.6% year-over-year

  • Up 0.3% month-over-month

What stands out right now

• Sellers are being more cautious about listing

• Buyers have time, options, and room to negotiate

• Pricing accurately is key — especially in this kind of market

• This window can create opportunities for both sides with the right strategy

As we move toward spring, this is the kind of market where a clear plan makes all the difference. Whether you’re thinking about selling or just starting to look, timing, pricing, and preparation are all playing a bigger role than usual right now. If you’re curious how this market applies to your specific situation, I’m always happy to talk it through and help you map out next steps in a way that feels comfortable and informed.

Spring brings more listings, more showings, and more opinions.
The best results happen before the rush.

Think of this as spring cleaning for your real estate plan: remove friction, simplify decisions, and make it easy for the right buyer — or the right home — to find you.

This isn’t about perfection. It’s about signal.

For Sellers: Focus on What Moves the Needle

• Edit, don’t just tidy. Remove about a third of what’s visible. Buyers read space instantly.

• Clean for light. Wash windows, swap dim bulbs, clear surfaces. Bright homes feel better — and photograph better.

• Fix the small stuff. Loose handles, drips, scuffs, tired caulking. Minor flaws create major doubt.

• Strengthen the entry. Clean, well-lit, simple. First impressions anchor everything.

• Create a “Trust Pack.” One-page summary of upgrades, maintenance, utilities — and for condos, key strata highlights. Clarity builds confidence.

Prepared sellers attract stronger, cleaner offers.

For Buyers: Get Ready Without Rushing

• Tighten your search. Define location, budget band, property type, and top three must-haves.

• Line up logistics early. Financing refreshed. Deposit plan clear. Notary or lawyer identified.

• Walk neighbourhoods at real-life times. Morning, after school, early evening. Trust your instincts.

• Use a simple scorecard. Layout. Light. Noise. Storage. Condition. Everyday access.

• Move decisively when it fits. Preparation beats waiting for perfect.

Prepared buyers avoid emotional decisions.

Spring rewards clarity.
Do the quiet work now — the results tend to follow.