SURREY, BC – Market conditions are ideal for Fraser Valley home buyers this summer, but the persistent gap between buyers’ and sellers’ price expectations continues to suppress sales.

The Fraser Valley Real Estate Board recorded 1,190 sales on its Multiple Listing Service® (MLS®) in July, down 0.5% from June and down 3% year-over-year. July sales were 23% below the 10-year average.

The supply of homes for sale dipped slightly in July, down 2% from June to 10,650, nearly 50% above the 10-year seasonal average. New listings declined 5% over June to 3,453. The Fraser Valley remains in a buyer’s market with an overall sales-to-active listings ratio of 11%; the market is considered balanced when the ratio is between 12% and 20%t.

“Home sellers are having to work harder than they did a year or two ago,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “In a market where buyers are cautious and have ample choice, successful sellers are going the extra mile to meet buyers where they’re at—staging their home, handling repairs up front, and most importantly, pricing their homes realistically for the current market conditions.”

Across the Fraser Valley in July, the average number of days to sell both a single-family detached home and a condo was 38 days. Townhomes took, on average, 35 days to sell.

“The housing market, like other sectors, continues to process the effects of the ongoing tariff threats,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The slowdown in home sales this spring and summer has largely been driven by uncertainty and fear. Buyers and sellers are taking measures to offset the anticipated impacts, knowing that the economic effects of tariffs will likely take some time to be fully realized throughout the system.”

The composite Benchmark price in the Fraser Valley decreased 0.7% in July, to $944,800.

MLS® HPI Benchmark Price Activity

• Single Family Detached : At $1,451,100, the Benchmark price for an FVREB single-family detached home decreased 0.5% compared to June 2025 and decreased 5.% compared to July 2024.
• Townhomes : At $814,900 the Benchmark price for an FVREB townhome decreased 1.2% compared to June 2025 and decreased 4.0% compared to July 2024.
• Apartments : At $519,300 the Benchmark price for an FVREB apartment/condo decreased 1.4% compared to June 2025 and decreased 5.8% compared to July 2024.

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Fraser Valley Real Estate Sales Activity Levels Off as Market Enters Seasonal Slowdown by FVREB