SURREY, BC – For the first time in four months, home sales in the Fraser Valley have increased as buyers capitalize on more selection and weakening prices.

The Fraser Valley Real Estate Board recorded 920 sales in February, up 13% from January, but 26% below sales recorded in February 2024.

Despite a 9% drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new listings remained 14% above the 10-year seasonal average, at 3,121. Overall inventory remains high, at 8,070 active listings, 45% above February 2024 and 55% above the 10-year seasonal average.

The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11%. The market is considered to be balanced with the ratio is between 12% and 20%.

“The combination of inventory accumulation and softening prices is providing buyers with increased leverage, especially in the single-family detached category,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Should this pattern persist, we could see a further shift toward a buyer’s market, particularly given the ongoing economic uncertainties and impending tariffs. With ample selection, buyers have flexibility and time on their side to explore their options before making a decision.”

Homes across the Fraser Valley sold in fewer days in February compared to January. The average number of days to sell a single-family detached home was 39, while for a condo it was 36. Townhomes took, on average, 32 days to sell.

The composite Benchmark price in the Fraser Valley dipped less than a quarter of a percent in February, down 0.2% to $962,500.

MLS® HPI Benchmark Price Activity

• Single Family Detached : At $1,489,100, the Benchmark price for an FVREB single-family detached home increased 0.5% compared to January 2025 and decreased 0.6% compared to February 2024.
• Townhomes : At $820,600, the Benchmark price for an FVREB townhome decreased 0.7% compared to January 2025 and decreased 2.1% compared to February 2024.
• Apartments : At $533,200 the Benchmark price for an FVREB apartment/condo decreased 0.3% compared to January 2025 and decreased 2.4% compared to February 2024.

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Buyers Gaining Upper Hand in Fraser Valley Real Estate Market by FVREB