Tariffs, economic uncertainty stall spring market in the Fraser Valley
As we welcomed the spring season, the Fraser Valley real estate landscape continued to evolve, presenting both challenges and opportunities for buyers and sellers alike. Looking at the overall trends, we observed that while March sales showed a positive increase compared to February, rising by 12.6% across all property types, they remained significantly lower than the same time last year, with a decrease of 25.7%. This slower year-over-year activity is occurring alongside a substantial increase in overall active listings, which have surged by 48.8% compared to March 2024 and 14.2% from February 2025. This growing inventory is a key trend to note as we move further into the spring market.
What do these shifts mean for those considering a move?
For potential buyers, the notable increase in active listings provides a significant advantage. With more selection available across all housing types – detached homes, townhouses, and apartments, buyers may find more favourable conditions and potentially greater negotiating room. While benchmark prices saw slight month-over-month increases of around 0.4% to 0.5% across different property types, they are still down compared to March of last year.
For sellers, it’s crucial to recognize the impact of the increased inventory. While sales did see a monthly uptick, the overall sales-to-active listings ratio remains in buyer’s market territory at 11%. However, new listings also saw healthy increases in March, indicating continued interest in bringing properties to market. Understanding the current dynamics and pricing your property strategically will be essential in achieving your real estate goals.
Our team is dedicated to helping you navigate these market trends with up-to-date information and expert guidance. Whether you are thinking of buying, selling, or simply want to understand the real estate market better, please don’t hesitate to reach out to us. We’re here to answer your questions and provide personalized advice tailored to your unique situation.
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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 – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average — making for the slowest start to the spring market in more than 15 years.The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still 26 per cent below sales recorded this time last year.
Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22 per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per cent above March 2024 and 59 per cent above the 10-year seasonal average.
“If not for the economic uncertainty driven largely by U.S. tariffs, we’d likely be seeing a typical strong spring market in the Fraser Valley,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “Instead, we’re seeing a disconnect as sellers remain hesitant to lower their prices beyond a certain threshold, while buyers, facing tighter financing conditions, are either unable or unwilling to meet it. The resulting inertia is keeping sales low.”
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 when the ratio is between 12 per cent and 20 per cent.
“Currently, uncertainty is impacting all corners of the real estate and development sector,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board, “and as a result, we are seeing markedly lower seasonal activity. As we navigate these challenges, your local REALTOR® — with firsthand market insight and access to the latest data — is a valuable resource to help guide you through the critical timing decisions for buying or selling.”
Across the Fraser Valley in March, the average number of days to sell a single-family detached home was 31, while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.
The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4 per cent to $974,400.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,505,500, the Benchmark price for an FVREB single-family detached home increased 0.4 per cent compared to February 2025 and decreased 1.2 per cent compared to March 2024.
• Townhomes: At $833,700 the Benchmark price for an FVREB townhome increased 0.5 per cent compared to February 2025 and decreased 1.7 per cent compared to March 2024.
• Apartments: At $540,900 the Benchmark price for an FVREB apartment/condo increased 0.5 per cent compared to February 2025 and decreased 2.6 per cent compared to March 2024.
Find the March 2025 Statistics Package HERE.
