Posted on
April 10, 2025
by
Jenn and Colin Real Estate Team
Clients, Neighbours and Friends,
We wanted to share with you the latest stats update from the Fraser Valley Real Estate board as we think it illustrates exactly what our experience has been over the past month working with our buyers and sellers.
See the update below. We have included benchmark pricing stats closer to home …
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.
Pricing stats for March ...
Benchmark pricing in South Surrey White Rock locked in at $1.904 for detached homes, townhomes $946k and apartments $626k.
Benchmark pricing in Sullivan/Panorama/Cloverdale sat closer to $1,525 for detached homes, $842k for townhomes and $592k for apartments.
As we have mentioned before, transitional markets are highly nuanced.
For sellers, pricing your home can be stressful and highly dynamic. For buyers, understanding how to submit offers that will get thoughtfully considered often involves trial and error.
If you have been thinking of making a move this year and any of the above resonates with you, give us a call. 604-583-2000
We can offer valuable insight into current conditions, future trends and important considerations for timing your sale or purchase.
Jenn & Colin
