The Fraser Valley real estate market remained stable in July 2025, with sales showing only a slight dip from June. While inventory levels remain high and prices continue to soften, ongoing economic concerns and pricing mismatches between buyers and sellers are contributing to cautious market activity.
Sales, New Listings & Inventory
In July, the Fraser Valley Real Estate Board recorded 1,190 home sales on its MLS®—down 0.4% from June and 3% below July 2024. Sales remain well below the 10-year average, down 23% from seasonal norms. New listings declined 4.6% month-over-month to 3,453, while active listings fell slightly to 10,650, still 22% higher than the same time last year. With the sales-to-active listings ratio holding at 11%, the region remains solidly in buyer’s market territory.
MLS® HPI Benchmark Price Activity
Benchmark home prices across the Fraser Valley continued to ease in July, driven by subdued demand and rising inventory:
- Detached Homes: The benchmark price declined 0.5% from June to $1,451,100, and is down 5.1% compared to July 2024.
- Townhomes: Prices fell 1.2% to $814,900, a 4.0% year-over-year decline.
- Apartments: The benchmark price dropped 1.4% to $519,300, down 5.8% from July of last year.
Average Days on Market
Homes continue to spend more time on the market as buyers take a wait-and-see approach:
- Detached Homes: 38 days on average to sell.
- Townhomes: 35 days on average.
- Apartments: 38 days on average.
Regional Highlights
- Abbotsford: Detached benchmark price decreased 0.9% to $1,180,200, down 4.4% from July 2024.
- Mission: Prices increased slightly by 0.6% to $1,033,100, though still 1.5% below last year.
- Surrey: Detached homes averaged $1,468,200, down 0.8% month-over-month and 6.1% year-over-year.
Market Outlook
Despite favourable conditions for buyers—including ample inventory and more room for negotiation—activity remains subdued. The gap between what buyers are willing to pay and what sellers are expecting continues to hinder deal-making. Many buyers are taking a cautious stance due to broader economic uncertainty and the potential ripple effects of ongoing global trade tensions.
That said, for buyers who are prepared and motivated, the current market offers opportunities—particularly for well-priced properties and first-time buyers entering the market. Sellers will need to adjust expectations and prepare homes more competitively to stand out.
Source: Fraser Valley Real Estate Board