Fraser Valley Housing Market Report: May 2025

Fraser Valley Housing Market Report - May 2025

The Fraser Valley real estate market experienced a modest rebound in May 2025, with home sales rising by 13% from April. However, year-over-year activity remains subdued, with sales still down 22% compared to May 2024. Economic uncertainty and affordability concerns continue to weigh on buyer confidence, even as inventory levels rise across the region.

New Listings & Inventory

In May, new listings climbed by 6.5% month-over-month to a total of 4,007, while active listings increased to 10,626 — a 34.4% surge compared to May 2024. This rise in available inventory, now 54% above the 10-year seasonal average, is providing buyers with more options and leverage in negotiations. The sales-to-active listings ratio remained low at 11%, continuing to signal a buyer’s market.

MLS® HPI Benchmark Price Activity

Benchmark prices showed slight declines across all major property types, reflecting the shift in market dynamics:

  • Detached Homes: The benchmark price dropped by 1.6% month-over-month to $1,481,900, marking a 3.2% decrease year-over-year.
  • Townhomes: Prices remained relatively flat, with a slight 0.03% monthly decline to $832,800, and a 2.5% drop compared to May 2024.
  • Apartments: The benchmark price decreased by 0.9% month-over-month to $532,700, reflecting a 4.0% year-over-year decline.

Fraser Valley Housing Market Report - May 2025 - Benchmarks

Average Days on Market

Homes are taking longer to sell compared to typical spring trends:

  • Detached Homes: On average, it took 34 days for a sale to close.
  • Townhomes: These sold quicker, with an average of 27 days on the market.
  • Apartments: Condos were on the market for about 33 days before selling.

Regional Highlights

  • Abbotsford: Detached home benchmark prices dropped 0.7% from April to $1,202,700, and were down 3.1% compared to last year.
  • Mission: Prices for detached homes saw a 4.0% monthly drop, settling at $1,019,100, a 2.6% decrease year-over-year.
  • Surrey: The benchmark for detached homes declined by 1.3% from April, to $1,606,100, which is 3.4% lower than May 2024.

Market Outlook

While sales showed a slight recovery in May, the Fraser Valley market remains under pressure. A high number of active listings and slower price growth reflect the cautious sentiment among buyers. Economic challenges — including job market concerns, inflation, and high living costs — continue to suppress confidence. Until there’s greater stability or a drop in interest rates, the market is expected to remain tilted in favor of buyers.

Source: Fraser Valley Real Estate Board