Courtesy of Dennis Bowles (FV)

Tariffs, economic uncertainty stall spring market in the Fraser Valley

$540,900 apartment DOWN 2.6% year-to-year

$1,505,500 detached DOWN 1.2% year-to-year

9,219 ACTIVE LISTINGS

BENCHMARK PRICES

$833,700 townhouse DOWN 1.7% year-to-year

apartment 2,371 1,495 townhouse

detached 3,253

1,036 SOLD LISTINGS

3,800 NEW LISTINGS

11.2% SALES TO ACTIVE LISTING RATIO

8.9 MONTHS OF INVENTORY

BC, April 2, 2025 – 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. 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.” 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. Statistics reflect market activity in March 2025 | Source: FVREB ® Fraser Valley Real Estate Board | Market values stated are of the benchmark of Fraser Valley and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

604.671.5371 | DennisBowles.ca DennisBowles@royallepage.ca

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