Fraser Valley Housing Market Statistics - March 2025
|
Tariffs,
economic uncertainty stall spring market in the Fraser Valley
SURREY, BC – March home sales in the Fraser Valley remained
nearly 50 per cent below the 10-year average — making for the
slowest start to the spring market in more than 15 years.
The
Fraser Valley Real Estate Board recorded 1,036 sales in March, up
13 per cent from February, but still 26 per cent below sales
recorded this time last year.
|
|
|
|
Following a decline on the Board’s Multiple
Listing Service® (MLS®) in February, new listings increased 22
per cent in March to 3,800. Overall inventory is at a
decade-high level, with 9,219 active listings, 49 per cent
above March 2024 and 59 per cent above the 10-year seasonal
average.
“If not for the economic uncertainty driven
largely by U.S. tariffs, we’d likely be seeing a typical strong
spring market in the Fraser Valley,” said Tore Jacobsen, Chair
of the Fraser Valley Real Estate Board. “Instead, we’re seeing
a disconnect as sellers remain hesitant to lower their prices
beyond a certain threshold, while buyers, facing tighter
financing conditions, are either unable or unwilling to meet
it. The resulting inertia is keeping sales low.”
|
|
|
The overall sales-to-active listings ratio
continues to signal a buyer’s market in the Fraser Valley, with
a ratio of 11 per cent. The market is considered to be balanced
when the ratio is between 12 per cent and 20 per cent.
“Currently, uncertainty is impacting all corners
of the real estate and development sector,” said Baldev Gill,
CEO of the Fraser Valley Real Estate Board, “and as a result,
we are seeing markedly lower seasonal activity. As we navigate
these challenges, your local REALTOR® — with firsthand market
insight and access to the latest data — is a valuable resource
to help guide you through the critical timing decisions for
buying or selling.”
|
|
|
Across the Fraser Valley in March, the average
number of days to sell a single-family detached home was 31,
while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.
The composite Benchmark price in the Fraser Valley
increased just under half a per cent in March, up 0.4 per cent
to $974,400.
|
|
|
MLS®
HPI Benchmark Price Activity
- Single Family Detached: At $1,505,500, the Benchmark price for an FVREB single-family
detached home increased 0.4 per cent compared to February 2025
and decreased 1.2 per cent compared to March 2024.
- Townhomes: At $833,700 the Benchmark price for an FVREB townhome
increased 0.5 per cent compared to February 2025 and decreased 1.7 per
cent compared to March 2024.
- Apartments: At $540,900 the Benchmark price for an FVREB apartment/condo
increased 0.5 per cent compared to February 2025 and decreased 2.6 per cent
compared to March 2024.
|
|
|
|
For the FULL STATISTICS PACKAGE click
| |
|
Know someone moving ANYWHERE in the WORLD? Call us today--we know the BEST agents everywhere!! Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD! 📞 Office Phone: 604-743-7653
ALL GTeam contact 📲 info can be found on either of our Team Web Sites below: |
|
|
|
|
|
|
|
