Buyers gaining upper hand in Fraser Valley real estate market
The real estate market in the Fraser Valley is continuing to shift in favor of buyers, with more homes available and prices holding steady. After several months of slower activity, sales picked up slightly in February as buyers took advantage of increased selection and more negotiating power. While the market remains softer than this time last year, conditions are becoming more favorable for those looking to enter or move within the market.
Inventory remains high, giving buyers plenty of options and reducing the urgency often felt in a competitive market. Well-priced homes are still attracting interest, but sellers are needing to be more strategic and patient as buyers take their time making decisions. Detached homes, in particular, are seeing increased flexibility in pricing and negotiations, creating opportunities for those looking to upsize.
While homes are still selling, they’re spending a bit more time on the market, allowing buyers to explore their options without the pressure of making rushed decisions. This shift means that sellers need to be realistic with pricing and expectations to attract the right buyers.
With market conditions leaning toward buyers, now could be a great time to start planning your next move. Whether you’re considering buying or selling, we would be happy to discuss the best strategy to help you achieve your goals in today’s evolving market. Feel free to reach out anytime!
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If you are considering selling, buying or just have questions about the market, please give us a call today and let’s chat.
What Does The Fraser Valley Real Estate Board Have To Say?
SURREY, BC – For the first time in four months, home sales in the Fraser Valley have increased as buyers capitalize on more selection and weakening prices.
The Fraser Valley Real Estate Board recorded 920 sales in February, up 13 per cent from January, but 26 per cent below sales recorded in February 2024.
Despite a nine per cent drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new listings remained 14 per cent above the 10-year seasonal average, at 3,121. Overall inventory remains high, at 8,070 active listings, 45 per cent above February 2024 and 55 per cent above the 10-year seasonal average.
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11 per cent. The market is considered to be balanced with the ratio is between 12 per cent and 20 per cent.
“The combination of inventory accumulation and softening prices is providing buyers with increased leverage, especially in the single-family detached category,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Should this pattern persist, we could see a further shift toward a buyer’s market, particularly given the ongoing economic uncertainties and impending tariffs. With ample selection, buyers have flexibility and time on their side to explore their options before making a decision.”
Homes across the Fraser Valley sold in fewer days in February compared to January. The average number of days to sell a single-family detached home was 39, while for a condo it was 36. Townhomes took, on average, 32 days to sell.
The composite Benchmark price in the Fraser Valley dipped less than a quarter of a per cent in February, down 0.2 per cent to $962,500.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,489,100, the Benchmark price for an FVREB single-family detached home increased 0.5 per cent compared to January 2025 and decreased 0.6 per cent compared to February 2024.
• Townhomes: At $820,600, the Benchmark price for an FVREB townhome decreased 0.7 per cent compared to January 2025 and decreased 2.1 per cent compared to February 2024.
• Apartments: At $533,200 the Benchmark price for an FVREB apartment/condo decreased 0.3 per cent compared to January 2025 and decreased 2.4 per cent compared to February 2024.
Find the February 2025 Statistics Package HERE.
