The Fraser Valley real estate market continues to show signs of sluggish growth in April 2025, with home sales rising slightly by 1% from March, but still down 29% year-over-year. Despite an increase in inventory, buyer confidence remains low due to ongoing economic uncertainty, creating a challenging environment for sellers.
New Listings & Inventory
April saw a modest decline of 1% in new listings compared to March, bringing the total to 3,762. However, active listings surged by 37.4% year-over-year, reaching 10,046 — the highest inventory level in over a decade. This abundance of available homes provides buyers with more selection and negotiation power, as reflected in the 10% sales-to-active listings ratio, indicating a buyer’s market.
MLS® HPI Benchmark Price Activity
Benchmark prices showed minor fluctuations across all property types:
- Detached Homes: The benchmark price for single-family detached homes rose slightly by 0.1% to $1,506,600 compared to March, but decreased 1.3% year-over-year.
- Townhomes: The price for townhomes dipped 0.1% to $833,100 compared to March, and dropped 2.4% compared to April 2024.
- Apartments: Prices for apartments decreased 0.6% from March to $537,800, showing a 3.2% decline from April 2024.
Average Days on Market
In April, homes continued to sell slower than typical spring months:
- Detached Homes: On average, detached homes took 32 days to sell.
- Townhomes & Condos: Both townhomes and condos sold slightly faster at 29 days.
Regional Highlights
- Abbotsford: Detached home prices saw a slight decline of 2.1% from April 2024, with the benchmark price at $1,211,600.
- Mission: Prices for detached homes remained stable, with a minor drop of 0.2% year-over-year, landing at $1,062,100.
- Surrey: The benchmark price for detached homes in Surrey fell by 1.7% from April 2024, to $1,627,800, but increased by 0.1% compared to March.
Market Outlook
The Fraser Valley market remains in a state of flux with significant economic pressures and rising tariffs affecting homebuyer confidence. While buyers benefit from an abundant selection of homes, the high levels of inventory and slower price growth continue to create challenges for sellers. The market is expected to remain in buyer’s territory unless economic conditions improve and interest rates soften later in the year.
Source: Fraser Valley Real Estate Board