Fraser Valley Housing Market Report – November 2025

The Fraser Valley real estate market cooled in November 2025, following October’s modest uptick, as seasonal patterns and cautious buyer sentiment took hold. Sales eased notably month-over-month, while prices continued to soften and overall inventory stayed elevated. The result is a market that remains firmly tilted in buyers’ favour heading into year-end.

Sales, New Listings & Inventory

In November, the Fraser Valley Real Estate Board (FVREB) recorded 943 home sales on its MLS®—a 16% decline from October and 17% lower than November 2024.
This pullback reflects a typical late-fall slowdown, with many buyers waiting for clearer pricing signals or improved borrowing conditions.

New listings dropped sharply to 2,210, down 26% month-over-month and 7% year-over-year.

Active listings finished the month at 9,201, a 9% decrease from October but still 13% higher than this time last year—keeping supply well above seasonal norms.

The sales-to-active listings ratio softened to 10%, slipping further below balanced-market territory.

A balanced market is typically defined by a ratio between 12% and 20%, reinforcing that the Fraser Valley remains in a buyer’s market.

MLS® HPI Benchmark Price Activity

Benchmark prices edged lower again across all major housing categories in November, extending the region’s gradual downward trend:

Detached Homes: $1,405,500 (−0.6% MoM, −5.4% YoY)

Townhomes: $778,700 (−0.8% MoM, −6.8% YoY)

Apartments: $496,500 (−1.0% MoM, −6.9% YoY)

The composite benchmark price dipped 0.7% month-over-month to $912,400, a 5.9% drop compared with November 2024.
Prices remain under gentle pressure as higher inventory levels continue to weigh on seller leverage.

Fraser Valley Housing Market Report – November 2025 – Bench Marks

Average Days on Market

Homes continued to take longer to sell in November, consistent with a slower seasonal pace and selective demand:

Detached Homes: 44 days on average

Townhomes: 39 days on average

Apartments: 44 days on average

Regional Highlights

Abbotsford: Detached benchmark edged down to $1,162,800, remaining slightly below last year as buyers stay price-sensitive.

Mission: Detached benchmark held near $1,010,000, showing relative stability compared to other sub-markets.

City of Surrey (combined): Detached benchmark slid to $1,504,200, maintaining a clear year-over-year decline amid high supply.

Langley: Detached benchmark fell to $1,540,900, continuing a mild monthly easing trend.

South Surrey/White Rock: Detached benchmark eased to $1,742,600, still among the region’s strongest pricing areas but down annually.

North Delta: Detached benchmark settled around $1,293,500, reflecting steady buyer negotiating power.

Market Outlook

FVREB Chair Tore Jacobsen noted that buyers remain in control as inventory stays high and prices trend lower, encouraging a more deliberate pace of decision-making. Sellers who price realistically are still seeing activity, but expectations need to align with current conditions.

CEO Baldev Gill added that while inventory is slowly being absorbed, the market is unlikely to return to seasonal sales averages until borrowing conditions stabilize further and confidence rebuilds.

Heading into December, buyer-leaning conditions persist:

For buyers, selection remains strong, and well-priced listings continue to present solid opportunities.

For sellers, strategic pricing, presentation, and patience are essential to stand out in a slower, competitive market.

Source: Fraser Valley Real Estate Board