The Fraser Valley real estate market softened in August 2025, with sales falling sharply compared to July as prices continued to ease across all property types. While inventory remains elevated and conditions favour buyers, economic uncertainty and cautious sentiment continue to weigh on activity.
Sales, New Listings & Inventory
In August, the Fraser Valley Real Estate Board recorded 931 home sales on its MLS®—down 22% from July and 13% below August 2024. Sales were 36% below the 10-year average, highlighting the slowdown in demand.
New listings fell 19% month-over-month to 2,793, though they edged up slightly by 0.5% year-over-year. Active listings held relatively stable at 10,445, down just 2% from July but still 21% higher than last August. With the sales-to-active listings ratio slipping to 9%, the region remains firmly in buyer’s market territory.
MLS® HPI Benchmark Price Activity
Benchmark prices across the Fraser Valley declined again in August, reflecting subdued demand and strong inventory:
- Detached Homes: $1,436,800 (−1.0% MoM, −5.7% YoY)
- Townhomes: $807,800 (−0.9% MoM, −4.5% YoY)
- Apartments: $514,100 (−1.0% MoM, −5.9% YoY)
Average Days on Market
Homes are taking longer to sell as buyers weigh their options and negotiate more aggressively:
- Detached Homes: 38 days on average to sell
- Townhomes: 32 days on average
- Apartments: 41 days on average
Regional Highlights
- Abbotsford: Detached benchmark price fell 0.7% to $1,171,900, down 4.1% year-over-year.
- Mission: Detached homes declined 0.7% to $1,025,400, down 2.0% annually.
- Surrey: Detached benchmark price slipped 1.1% to $1,451,500, 5.8% lower than last August.
Market Outlook
Market conditions continue to favour buyers heading into fall, with softer prices, elevated supply, and more time to make purchasing decisions. However, economic headwinds—including affordability challenges and cautious consumer confidence—are keeping overall activity subdued.
For buyers, the current market offers opportunities, particularly in well-priced, move-in-ready properties where sellers may be more motivated. For sellers, adjusting pricing expectations and presenting homes competitively will be key to attracting offers in this buyer-driven market.
Source: Fraser Valley Real Estate Board