{"id":25919,"date":"2025-06-06T10:10:23","date_gmt":"2025-06-06T17:10:23","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25919"},"modified":"2025-06-06T09:13:25","modified_gmt":"2025-06-06T16:13:25","slug":"a-sign-of-buyer-confidence-returning-to-fraser-valley-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/06\/a-sign-of-buyer-confidence-returning-to-fraser-valley-housing-market\/","title":{"rendered":"A Sign of Buyer Confidence Returning to Fraser Valley Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 On the heels of a quiet April, Fraser Valley home sales saw a modest but encouraging uptick in May \u2014 a sign that buyer confidence may slowly be returning to the market.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board recorded 1,183 sales on its Multiple Listing Service\u00ae (MLS\u00ae) in May, up 13% from April. Despite the increase, sales were 22% below May 2024 levels and 36% below the 10-year seasonal average.<\/p>\n<p style=\"text-align: justify;\">Overall inventory continues to build, with active listings up 6% in May, to 10,626, an increase of 34% year-over-year and 54% above the 10-year seasonal average. New listings increased 7% from April to May to 4,007.<\/p>\n<p style=\"text-align: justify;\">\u201cHigh inventory in the Fraser Valley is giving buyers more choice, but it also means sellers are facing more competition,\u201d said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. \u201cWe\u2019re seeing that homes priced appropriately for today\u2019s market are selling, while sellers who aren\u2019t in a rush are choosing to hold off or stand firm on pricing and wait for more favourable conditions.\u201d<\/p>\n<p style=\"text-align: justify;\">The overall sales-to-active listings ratio of 11% indicates the Fraser Valley remains in a buyer\u2019s market. The market is considered balanced when the ratio is between 12% and 20%.<\/p>\n<p style=\"text-align: justify;\">Across the Fraser Valley in May, the average number of days to sell a single-family detached home was 34, while for a condo it was 33 days. Townhomes took, on average, 27 days to sell.<\/p>\n<p style=\"text-align: justify;\">\u201cMany buyers are taking a wait and see approach, hoping for the economy to improve,\u201d said Baldev Gill, CEO of the Fraser Valley Real Estate Board. \u201cJob security, inflation, and the cost of living continue to weigh on the minds of many families. As soon as greater confidence begins to return, we could start to see more activity in the market.\u201d<\/p>\n<p style=\"text-align: justify;\">The composite Benchmark price in the Fraser Valley decreased 1% in May, to $963,200.<\/p>\n<p style=\"text-align: justify;\"><strong>MLS\u00ae HPI Benchmark Price Activity<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 Single Family Detached : At $1,481,900, the Benchmark price for an FVREB single-family detached home decreased 1.6% compared to April 2025 and decreased 3.2% compared to May 2024.<br \/>\n\u2022 Townhomes : At $832,800 the Benchmark price for an FVREB townhome decreased 0.03% compared to April 2025 and decreased 2.5% compared to May 2024.<br \/>\n\u2022 Apartments : At $532,700 the Benchmark price for an FVREB apartment\/condo decreased 0.9% compared to April 2025 and decreased 4.0% compared to May 2024.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/Package202505.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full statistics package.<\/p>\n<p><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-home-sales-returning-to-seasonal-norms-in-november-after-october-surge-3-2-2\/\" target=\"_blank\" rel=\"noopener\">May Brings Much-Needed Lift to Fraser Valley Housing Market<\/a> by FVREB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 On the heels of a quiet April, Fraser Valley home sales saw a modest but encouraging uptick in May \u2014 a sign that buyer confidence may slowly &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/06\/a-sign-of-buyer-confidence-returning-to-fraser-valley-housing-market\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-25919","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A Sign of Buyer Confidence Returning to Fraser Valley Housing Market &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/06\/a-sign-of-buyer-confidence-returning-to-fraser-valley-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"A Sign of Buyer Confidence Returning to Fraser Valley Housing Market &#8226; 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