March 2026 Update
Sales in the Powell River residential real estate market increased in March to 22 from last month’s 15 and from 19 a year ago. Overall we’re off to a slower start this year with 51 sales in the first three months compared to 67 last year. New listings took a jump in March to 64 from February’s 44 which puts us above the average of 59 for this past year. Total inventory at 189 is below last year’s average of 212 but well above the averages for the roughly ten years before that. Prices have continued to fall off with my six month rolling average showing a 9% drop since last October. We saw three homes sell for over $1M last month which pushed the monthly average up but the general direction of pricing seems to be decreasing. We’re continuing in Buyer’s market territory with reasonably high inventory and weaker sales. Fixed rate interest rates have been edging up which may induce some buyers to make a move sooner rather than later. I think we’ll see a generally positive trend in sales for the spring and summer.