Buying opportunities remain untapped in Fraser Valley

Andy Schildhorn • July 7, 2025

SURREY, BC —  Economic uncertainty continued to be the main driver in buying decisions as home sales in the Fraser Valley remain mostly unchanged, despite abundant inventory and lower prices.

 

The Fraser Valley Real Estate Board recorded 1,195 sales on its Multiple Listing Service® (MLS®) in June, up one per cent from May, but nine per cent below sales from June 2024 and 33 per cent below the 10-year average.

 

The Fraser Valley remains in a buyer’s market with the supply of available homes continuing to build. Active listings approached 11,000 in June — a two per cent increase over May and 30 per cent above levels from this time last year. New listings declined 10 per cent over May to 3,618. The overall sales-to-active listings ratio is steady at 11 per cent; the market is considered balanced when the ratio is between 12 per cent and 20 per cent.



“For buyers who can tolerate the current economic uncertainty, this market offers some very real opportunities,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “With more homes to choose from and softening prices, it’s a uniquely favourable time to make a move in the Fraser Valley, particularly for first-time buyers.




Across the Fraser Valley in June, the average number of days to sell a condo was 39 days, while for a single-family detached home it was 35 days. Townhomes took, on average, 30 days to sell.




“There’s no question the economy continues to grapple with unpredictability surrounding trade and tariffs, and the real estate market, like all sectors, is adapting to an uncertain future,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Perhaps this presents an opportunity for government to revisit policy decisions of the past, which may have served their purposes under different market conditions, in support of new economic realities.”

 

The composite Benchmark price in the Fraser Valley decreased 1.2 per cent in June, to $951,500.


MLS® HPI Benchmark Price Activity

 

  • Single Family Detached: At $1,458,600, the Benchmark price for an FVREB single-family detached home decreased 1.6 per cent compared to May 2025 and decreased 4.6 per cent compared to June 2024.
  • Townhomes: At $824,400 the Benchmark price for an FVREB townhome decreased 1.0 per cent compared to May 2025 and decreased 3.1 per cent compared to June 2024.
  • Apartments: At $526,500 the Benchmark price for an FVREB apartment/condo decreased 1.2 per cent compared to May 2025 and decreased 4.5 per cent compared to June 2024.

🏡 2025 Fraser Valley housing market slowest in over two decades despite falling prices and decade-high inventory 📉

By Andy Schildhorn • January 6, 2026
SURREY, BC – 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.

B.C. Foreclosures Rising as Higher Mortgage Payments Kick In

By Jami Makan | BVI • December 30, 2025
The number of court-ordered sales in Metro Vancouver is jumping, and may continue to grow as a mortgage renewal wave hits Canada five years after the pandemic-era real estate frenzy. Court-ordered inventory, while less than one per cent of the market, totalled 119 properties in the Vancouver region in October 2025, compared with 66 in October 2024 and 28 in October 2023, according to real estate website Zealty.ca (Zealty Online Search Inc.). Foreclosures are becoming more frequent because home prices are correcting, unemployment is rising and people who bought during the pandemic are having to renew their mortgages at higher interest rates, said Adam Major, managing broker with Sechelt-based Holywell Properties. There was a massive increase in home sales from late 2020 through 2022, he said. “This was the height of COVID craziness when [Bank of Canada governor] Tiff Macklem promised rates would stay low forever, the government was sending everyone free money and we all wanted a bigger house to work from home in,” he said. Those homes were financed at rock-bottom interest rates, with the central bank’s policy rate sitting at 0.25 per cent from March 2020 to March 2022. Because Canadian banks generally offer maximum terms of five years, it’s now time for many to pay the piper—at interest rates higher than what some can afford. “It is definitely a bad sign for the market as we are only at the beginning of the big mortgage renewal wave,” Major said. The most sales ever in a month in the region were the 5,715 sales in March 2021, he said. “Those buyers will have to renew this coming March. The number of renewals will stay elevated for a year after that. The average discount mortgage rate in March 2021 was 1.69 per cent versus about 3.79 per cent now, so almost everyone who bought in 2021 and 2022 will be paying significantly more on renewal,” he said. 👉 Read the Article Here

Not a Normal Market: Buyers in Control, Sellers Need a Plan.

By Andy Schildhorn • December 29, 2025
In this episode of Andy Talks Real Estate, I break down the November Fraser Valley real estate market and explain what the numbers actually mean if you’re thinking about buying or selling a home. This market has slowed as we head into the holiday season. Inventory is contracting. Sales are down. Prices have softened after several months of gradual decline. And that shift is creating very different opportunities depending on which side of the market you’re on. For Buyers: Buyers are firmly in control right now. You have more choice, more time, and the ability to negotiate properly. Conditions are back Home inspections matter Financing protection matters Time to make informed decisions Based on what I’m seeing, this buyer-friendly environment is likely to carry into early 2026. For Sellers This is not a market where you can rely on last year’s pricing or momentum. Accurate pricing is critical Professional preparation matters Strong marketing makes the difference Strategy beats waiting Homes that are positioned correctly are selling. Homes that miss the mark are sitting. Market Context The data comes directly from the Fraser Valley Real Estate Board, including: Sales activity New listings Months of inventory Housing Price Index trends Langley-specific market shifts The market feels more like a buyer’s market than a balanced one when you’re out touring homes. Looking Ahead There are early signs of pent-up demand, particularly among buyers with insured mortgage pre-approvals. January and February may stay quieter Activity is likely to build into late winter and spring Preparation is the advantage Have a plan. Know your options. Move when the timing is right for you.
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