Trevor Miller

Decade-high inventory and softer prices failed to spark buyer demand in the Fraser Valley in 2025. Despite favourable conditions and increased negotiating power, many buyers stayed on the sidelines, making it one of the slowest years for sales in decades.

The Fraser Valley Real Estate Board recorded 12,224 sales on its Multiple Listing Service® (MLS®) in 2025, a decline of 16 per cent over 2024 and 33 per cent below the 10-year average. The City of Surrey accounted for the majority of 2025 sales at 48 per cent, with Langley and Abbotsford accounting for 24 per cent and 16 per cent respectively.

On the supply side, buyers had more choice than at any point in the past four decades, as new listings climbed to 37,963.

The composite Benchmark home price in the Fraser Valley closed the year at $905,900, down six per cent year-over-year, and down 24 per cent from the peak in March 2022.

In December, sales declined 2.5 per cent from November, and were 7.5 per cent below sales from December 2024.

In line with seasonal patterns, new listings fell sharply in December, declining 39 per cent month-over-month to 1,350. Overall inventory remained above seasonal norms, ending the year with 6,965 active listings. The pullback in new listings helped lift the sales-to-active listings ratio to 13 per cent in December, bringing the market into balanced territory to close out the year. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“The slowdown we saw in 2025 wasn’t just about housing — it reflected broader economic uncertainty felt across the region,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Households were navigating affordability challenges, rising costs and tougher mortgage requirements, all of which contributed to a quieter market.”

Will 2026 see the Fraser Valley market rebound?

If you are planning to take advantage of the increased inventory and lower prices in 2026, I would love to hear from you!

The Fraser Valley real estate market still heavily favours buyers, however the gap between buyers’ and sellers’ price expectations continues to curb sales in the region.

According the Fraser Valley Real Estate Board’s latest statistics, there were 1,190 sales on its Multiple Listing Service® (MLS®) in July, down half a per cent from June and down three per cent year-over-year. July sales were 23 per cent below the 10-year average. The supply of homes for sale dipped slightly in July, down two per cent from June to 10,650, nearly 50 per cent above the 10-year seasonal average. New listings declined five per cent over June to 3,453.

The overall sales-to-active listings ratio of 11 per cent; the market is considered balanced when the ratio is between 12 per cent and 20 per cent, so again, buyers are in the driver’s seat.

“Home sellers are having to work harder than they did a year or two ago,” said FVREB Chair, Tore Jacobsen. “In a market where buyers are cautious and have ample choice, successful sellers are going the extra mile to meet buyers where they’re at—staging their home, handling repairs up front, and most importantly, pricing their homes realistically for the current market conditions.”

Across the Fraser Valley in July, the average number of days to sell both a single-family detached home and a condo was 38 days. Townhomes took, on average, 35 days to sell.

“The housing market, like other sectors, continues to process the effects of the ongoing tariff threats,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The slowdown in home sales this spring and summer has largely been driven by uncertainty and fear. Buyers and sellers are taking measures to offset the anticipated impacts, knowing that the economic effects of tariffs will likely take some time to be fully realized throughout the system.”

September FVREB stats out today show it’s still very much a buyer’s market in the Fraser Valley, with the average number of days to sell a single-family detached home at 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell. Compared to August, benchmark prices in September are down 1.4 per cent to $978,800.

Nice to see the BC Real Estate and Canadian Mortgage Brokers Association speak out (and offer solutions) following the ridiculous recent BC Gov’t amendments to the Residential Tenancy Act, which make home ownership even more difficult than it already is for many potential buyers.

Read more here:
https://businessexaminer.ca/victoria-articles/item/organizations-call-on-government-to-amend-residential-tenancy-act/

Sales are down and inventory is up according to the latest market stats, leading to headlines like this:

Fraser Valley real estate sales fall double digits despite Bank of Canada interest rate cut – Fraser Valley Today

“Hesitant” buyers keep home sales slow in Metro Vancouver and the Fraser Valley – Daily Hive

So, if you’re buying or selling, what should you do? Call me to discuss your best options!

YIKES! Fraser Valley Real Estate Board says last month’s sales were the second lowest recorded for a March in a decade as buyers seem to still be waiting on the sidelines for rates to drop. BUYERS, DO NOT WAIT! You could end up paying more to outbid competitors (when everyone re-enters the market at once) than you would on a new mortgage.

LINK to my Facebook Post

https://www.realtor.ca/real-estate/26641016/1403-3071-glen-drive-coquitlam

Enjoy STUNNING Park/City/Mountain VIEWS from the 14th floor of the charming Parc Laurent. Lots of space in this 1017 square foot 2BR/2BA corner unit, which features updated flooring, counters and all s/s appliances. Views from both large bedrooms, kitchen, dining and living room with south-facing balcony. Building has exercise facility, games/party room, and workshop. Underground parking stall comes w/EV CHARGER ($4000 value). Location is close to shopping and transit, yet quiet & tranquil across from GLEN PARK. Quick possession possible.

That’s the headline in today’s press release from the Fraser Valley Real Estate Board.

Yes, high interest rates have caused a dip over past few months, but prices remain up almost 5% compared to last year. So, even though it’s a buyer’s market, sellers shouldn’t be too discouraged.

If you’d like to know what your property is worth, contact me for a free no-obligation market evaluation.

The Fraser Valley Real Estate Board claims the latest stats show a welcome trend towards alleviating our region’s housing supply issues, as buyers and sellers “adjust” to the new market conditions. However, I’m still seeing demand outpace supply, with multiple competing offers and prices over asking. It’s a great time to sell, but leave yourself extra time to buy. As your realtor I can help with that!

Click HERE for the full FVREB press release & stats.