Fraser Valley Market January 2025 Update – Growing Inventory Creates Buyer Opportunities
The Fraser Valley real estate market is seeing a shift, with inventory levels reaching a 10-year seasonal high. A surge in new listings—up 167% from December to January—has increased available options for buyers. However, sales activity remains slow, with 818 properties sold in January, down 18% from the previous month.
With the sales-to-active listings ratio sitting at 11%, the market leans in favour of buyers, particularly in the detached home segment. This ratio indicates that more homes are available than there are buyers actively making purchases. Historically, a balanced market is considered to be between 12% and 20%, meaning buyers now have more negotiating power and selection. Additionally, homes are taking longer to sell, with detached homes averaging 52 days on the market, condos 42 days, and townhomes 38 days.
Despite economic uncertainty, prices have remained relatively stable. The composite Benchmark price in the Fraser Valley decreased only slightly by 0.03% to $964,800. Market conditions, combined with the possibility of further rate cuts from the Bank of Canada, could create a favourable environment for those looking to enter the market.
“The market appears to be in a holding pattern at the moment,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war, which could lead to even more rate cuts by the Bank of Canada. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives.”
For buyers, this shift presents a strategic window to make a move while inventory remains high and prices remain steady. If you’re considering entering the market, connect with a REALTOR® today to explore the opportunities available.
Courtesy of the FVREB | Click here to view the full stats package.
