The Fraser Valley real estate market saw little change in June 2025, as home sales remained mostly flat compared to the previous month. While inventory continues to climb and prices edge down, buyers remain cautious, with economic uncertainty and affordability challenges at the forefront of decision-making.
Sales, New Listings & Inventory
In June, the Fraser Valley Real Estate Board recorded 1,195 home sales on its MLS® — a modest 1% increase from May, but 9% below June 2024 and a significant 33% below the 10-year average. New listings dipped 10% from the previous month to 3,618, while active listings approached 11,000, up 2% from May and 30% higher than last year. The supply of available homes is now much greater than demand, with the sales-to-active listings ratio steady at 11%, firmly placing the region in buyer’s market territory.
MLS® HPI Benchmark Price Activity
Home prices across the Fraser Valley continued their downward trend in June, reflecting the current shift in market dynamics:
- Detached Homes: The benchmark price dropped 1.6% from May to $1,458,600, and is down 4.6% compared to June 2024.
- Townhomes: The benchmark price fell 1.0% month-over-month to $824,400, marking a 3.1% decrease year-over-year.
- Apartments: Prices declined by 1.2% from May to $526,500, which is 4.5% lower than June 2024.
Average Days on Market
Homes are lingering on the market longer, as buyers take their time with more options available:
- Detached Homes: 35 days on average to sell.
- Townhomes: 30 days on average.
- Apartments: 39 days on average.
Regional Highlights
- Abbotsford: Detached benchmark price edged down 1.0% from May to $1,190,600, and is 3.0% lower than a year ago.
- Mission: Detached prices rose 0.7% to $1,026,700, though still down 2.8% from June 2024.
- Surrey: Detached benchmark price fell 2.0% to $1,573,300, a 5.4% decrease year-over-year.
Market Outlook
Despite abundant inventory and softer prices, many buyers remain on the sidelines due to ongoing economic uncertainty. With the market staying in buyer’s territory and prices continuing to soften, opportunities are growing for those ready to act—especially first-time buyers. However, confidence is being held back by concerns over inflation, the job market, and high living costs. Until there is a shift in economic conditions or interest rates, the market is likely to remain slow and competitive for sellers.
Source: Fraser Valley Real Estate Board