SURREY, BC – Fraser Valley home sales fell more than 20% in August, but buyers who did get into the market were able to take advantage of favourable conditions including abundant choice, softer prices and more time to make decisions.

The Fraser Valley Real Estate Board recorded 931 sales on its Multiple Listing Service® (MLS®) in August, down 22% from July and down 13% year-over-year. August sales were 36% below the 10-year average.

The Fraser Valley buyer’s market remains strong with inventory levels holding relatively stable, down just 2% to 10,445 active listings. Newly listed homes declined 19% month-over-month to 2,793; up 0.5% year-over-year. The overall sales-to-active listings ratio for August dropped to 9%, down 2% from July. The market is considered balanced when the ratio is between 12% and 20%.

“Current market conditions are allowing buyers the opportunity to make bold offers, especially for properties that have been on the market for a while and where sellers may be more motivated,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “As in all transactions, timing is everything and we expect to see more buyers come off the sidelines heading into fall to take advantage of the lower price floor.”

Across the Fraser Valley in August, the average number of days to sell a condo was 41 days; while for a single-family detached home it was 38 days. Townhomes took, on average, 32 days to sell.

“The economic uncertainty that has shaped the housing market for much of 2025 now seems to have been factored into market dynamics, as evidenced by a sustained softening of prices,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Some buyers who had been holding off are starting to recognize that waiting for greater certainty could mean missing opportunities, particularly in a market where conditions now clearly favour buyers.”

The composite Benchmark price in the Fraser Valley decreased 0.9% in August, to $936,200.

MLS® HPI Benchmark Price Activity

• Single Family Detached : At $1,436,800, the Benchmark price for an FVREB single-family detached home decreased 1% compared to July 2025 and decreased 5.7% compared to August 2024.
• Townhomes : At $807,800 the Benchmark price for an FVREB townhome decreased 0.9% compared to July 2025 and decreased 4.5% compared to August 2024.
• Apartments : At $514,100 the Benchmark price for an FVREB apartment/condo decreased 1% compared to July 2025 and decreased 5.9% compared to August 2024.

Click here to view the full statistics package.

Declining Prices and High Inventory Strengthen Buyer’s Market Heading Into Fall by FVREB