Courtesy of Sherman Foster

Buyers gaining upper hand in Fraser Valley real estate market

$533,200 apartment DOWN 2.4% year-to-year

$1,489,100 detached DOWN 0.6% year-to-year

8,070 ACTIVE LISTINGS

BENCHMARK PRICES

$820,600 townhouse DOWN 2.1% year-to-year

apartment 2,115 1,286 townhouse

detached 2,763

920 SOLD LISTINGS

3,121 NEW LISTINGS

11.4% SALES TO ACTIVE LISTING RATIO

8.8 MONTHS OF INVENTORY

BC, March 4, 2025 – For the first time in four months, home sales in the Fraser Valley have increased as buyers capitalize on more selection and weakening prices. 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.. “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. Statistics reflect market activity in February 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.

S HERMAN F OSTER SALES REPRESENTATIVE MASTER MEDALLION MEMBER

Cell. 604-290-7208 shermanfoster1@gmail.com www.shermanfoster.com

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