Continued Signs of Market Stabilization

As we move further into the spring market, the Fraser Valley housing market is continuing to show early signs of stabilization, with sales activity improving and benchmark prices increasing for a second consecutive month.

Though sales activity is increasing, the Fraser Valley still remains firmly in a buyer's market, with an overall sales-to-active listings ratio of 11 per cent in April. A balanced market is typically defined by a ratio between 12 and 20 per cent.

A total of 1118 homes sold in April, an increase of 11% from March, and 7% above the same month last year.

Across the Fraser Valley

Across the Fraser Valley there were 1118 homes sold in April, an increase from both the previous month, and the same month last year. 

Sellers continued to enter the spring market, with new listings rising 6% from March to 3,549 - still above seasonal norms, but lower than this time last year.

 Average Days on Market in April:

• Detached Homes: 37 days
• Townhomes: 32 days
• Condos: 42 days

A Closer Look at Surrey

Surrey’s housing market continued to show mixed trends in April, with sales activity improving across most property types while benchmark prices remained relatively stable month-over-month.

Detached home sales increased 21.7% from March and 22.5% compared to April of last year, with the benchmark price sitting at $1,461,000 - down 0.2% month-over-month and 9.8% year-over-year.

Townhomes continued to show relative stability, with benchmark prices increasing 0.2% from March to $794,500. Sales activity also improved, rising 13.1% month-over-month and 2.6% year-over-year.

The condo market remained softer compared to other property types. Benchmark prices declined 0.6% month-over-month to $474,100 and were down 9.1% year-over-year. However, condo sales still increased 5.0% from March, despite remaining 31.0% below April 2025 levels.

After nearly a year of gradual price declines, the Fraser Valley market is starting to show early signs of stabilizing, with benchmark prices increasing slightly month-over-month for the first time in 11 months.

While sales activity improved in March compared to February, overall demand remains relatively subdued, with year-to-date sales still trailing behind last year — a clear sign that many buyers are continuing to take a cautious approach.

A total of 1,007 homes sold in March, representing a 20% increase from the previous month. However, this is still slightly below last year’s levels and well below the long-term seasonal average.

New listings also rose by 20% to 3,341, indicating that more sellers are entering the market ahead of the spring season, even as overall sales activity remains softer than usual.

Across the Fraser Valley

According to the Fraser Valley Real Estate Board, there were 1,007 sales in March, up 20% from February, but still slightly below last year and well below the 10-year seasonal average.

New listings increased to 3,341, also up 20% month-over-month, while active inventory rose to 9,201 homes, sitting roughly 50% above the long-term average.

The sales-to-active listings ratio came in at 11%, which keeps us firmly in a buyer’s market (a balanced market typically falls between 12%–20%).

Average Days on Market in March:
• Detached homes: 39 days
• Townhomes: 36 days
• Condos: 43 days

A Closer Look at Surrey

Detached benchmark prices increased slightly by 0.2% month-over-month to $1,463,500, but remain down 10.2% compared to last year, with sales rising 27.7% from February and up 12.6% year-over-year.

Townhome benchmark prices saw a modest 0.4% month-over-month increase to $792,700, while still down 8.0% year-over-year. Sales activity picked up as well, up 20.2% month-over-month, though still down 13.8% compared to last year.

Apartment benchmark prices declined 0.4% month-over-month to $477,100, and are down 9.3% year-over-year. Despite this, sales increased 19.8% from the previous month, though remain 20.4% below last year’s levels.

While prices are still lower compared to last year, the increase in sales across all property types suggests that buyers are beginning to step back into the market - particularly as inventory remains high and pricing becomes more attractive.

An Early Spring Lift

February brought a noticeable increase in sales activity across the Fraser Valley compared to January, signaling an early hint of the spring market. That said, overall market conditions remain firmly in buyers’ territory, with inventory levels staying elevated and benchmark prices continuing to trend slightly downward.

For well-prepared buyers, this continues to present opportunity. For sellers, pricing strategy and presentation remain critical.

Across the Fraser Valley

The Fraser Valley Real Estate Board recorded 843 MLS® sales in February, a 36% increase from January, but still below typical seasonal levels.

New listings declined to 2,796, down 9% from January, while total active inventory rose to 8,344 homes - up 8% month-over-month and sitting 51% above the 10-year seasonal average

With a sales-to-active listings ratio of 10%, the Fraser Valley remains in a buyer’s market (a balanced market is typically between 12%–20%)

The composite benchmark price for the Fraser Valley dipped 0.2% month-over-month to $895,100, reflecting continued softening across most property types

 Average days on market in February:
• Detached homes: 47 days
• Townhomes: 39 days
• Condos: 45 days

A Closer Look at Surrey

Detached benchmark prices declined 0.5% month-over-month to $1,461,300, down 9.7% year-over-year

Townhome benchmark prices edged up slightly month-over-month to $789,800, but remain down 7.6% year-over-year

Apartment benchmark prices decreased 0.4% month-over-month to $479,100, down 8.9% year-over-year

While pricing has softened compared to last year, February’s jump in sales suggests that buyers are beginning to re-engage — particularly in well-priced townhomes and entry-level detached homes across Surrey.

A Cautious Start to 2026 - with Growing Leverage for Buyers

January opened with limited momentum across the Fraser Valley. Home prices continued to soften while inventory remained elevated, keeping market conditions firmly tilted toward buyers. Despite what would normally be considered favourable buying conditions, ongoing economic uncertainty and affordability pressures are continuing to temper buyer confidence.

Across the Fraser Valley

The Fraser Valley Real Estate Board recorded 619 MLS® sales in January, a 33% decrease from December and 24% lower than January 2025, reflecting a quieter-than-usual start to the year.

New listings rose sharply to 3,078, following typical seasonal patterns, while overall inventory climbed to 7,711 active listings - 54% above the 10-year seasonal average.

With a sales-to-active listings ratio of just 8%, the Fraser Valley remains firmly in buyer’s market territory (a balanced market is typically between 12%–20%).

Benchmark prices continued their gradual decline, with the composite Fraser Valley benchmark price at $897,200, down 1.0% month-over-month and 6.9% year-over-year - the first time below $900,000 since spring 2021.

A Closer Look at Surrey

Detached benchmark prices in Surrey declined 1.1% month-over-month, sitting at $1,468,500, down 8.3% year-over-year

Townhome benchmark prices decreased 1.2% month-over-month to $789,300, down 7.2% year-over-year

Apartment benchmark prices dipped 0.2% month-over-month to $480,800, down 8.4% year-over-year

Sales activity in Surrey slowed across all property types, but well-priced homes continue to sell - particularly in townhomes and entry-level apartments where buyers are most active.

A Year Ending with Balance - and Opportunity

December marked a notable shift in market dynamics. While 2025 overall was one of the slowest sales years in over two decades, December closed with conditions stabilizing across the Fraser Valley. Seasonal slowdowns in new listings helped bring the market back into balanced territory, creating a more level playing field for both buyers and sellers.

Across the Fraser Valley

The Fraser Valley Real Estate Board processed 919 MLS® sales in December, down 2.5% from November and 7.5% lower than December 2024, reflecting the typical year-end slowdown .

New listings dropped sharply - down 39% month-over-month - allowing overall inventory to tighten to 6,965 active listings. This shift lifted the sales-to-active listings ratio to 13%, placing the region firmly back into balanced market territory to close out the year.

Benchmark prices across the Fraser Valley continued their gradual adjustment, with the composite benchmark price down 0.7% month-over-month and 6.0% year-over-year, reflecting ongoing affordability pressures and cautious buyer sentiment.

A Closer Look at Surrey

Surrey remained the largest and most active market in the Fraser Valley, accounting for nearly half of all 2025 sales across the region .

In December specifically:

Detached benchmark prices in Surrey eased 1.2% month-over-month, sitting at $1,484,100, down 7.2% year-over-year.

Townhomes in Surrey showed relative resilience, with the benchmark price up 0.7% month-over-month.

Apartment benchmark prices declined 0.6% month-over-month, reflecting continued affordability sensitivity among entry-level buyers.

 Despite softer prices, Surrey saw steady sales activity, particularly in townhomes and apartments, as buyers took advantage of improved selection and negotiating power.

Jon’s Take

“December quietly did something important - it rebalanced the market. With inventory pulling back and the sales-to-active listings ratio moving back into healthy territory, Surrey is entering 2026 on much more stable footing than many headlines suggest.

What stands out to me is where activity is holding: townhomes and well-priced detached homes continue to move, especially when they’re positioned correctly. For buyers, winter still offers leverage. For sellers, the market is far more sensitive to pricing and presentation - but the right strategy absolutely gets results.”

— Jon Pereira | RE/MAX

November reflected what we typically see at this point in the year: buyer activity easing, new listings slowing, and inventory remaining elevated across the Fraser Valley. Prices gently adjusted month-over-month, but negotiation power remains firmly in the hands of buyers.

Across The Fraser Valley

Despite easing Benchmark prices and higher-than-normal inventory levels, buyer activity slowed across the Fraser Valley in November, aligning with typical seasonal patterns.

The Fraser Valley Real Estate Board processed 943 MLS® sales in November, representing a 16% decline from October and a 17% decrease compared to November of last year.

While total inventory dipped 9% from October, the region continues to offer buyers significantly more choice than usual, ending the month with 9,201 active listings - 47% above the 10-year seasonal average, which historically sits far lower at this time of year.

The Fraser Valley continues to sit in a buyer’s market, closing November with a 10% sales-to-active listings ratio - slightly lower than October, and below the 12–20% range that typically signals balanced market conditions.

Jon's Take

"A small but significant detail worth highlighting this month: unlike the broader seasonal softening across the Fraser Valley Real Estate Board region, Benchmark prices for detached homes in Surrey climbed 0.4% in November. That tells a story.

This late-year uptick could mean detached demand in Surrey has found early footing, indicating continued price resilience as we open 2026. Moving forward, we may see inventory gradually absorb through winter as serious buyers and upsizers position themselves ahead of the January-to-spring momentum."

- Jon Pereira | RE/MAX

Thanks for reading and engaging with this year’s updates - your trust and attention mean everything.

If you're planning a move in 2026, the winter market can be a smart advantage for buyers and sellers in Surrey. As always, I’m here to guide you through it - I’m only a call away.

Wishing you a warm holiday season, a joyful Christmas, and a strong start to 2026.

October brought a welcome uptick in activity across the Fraser Valley, with Surrey continuing to show signs of cautious stabilization after months of adjustment. While sales remain below seasonal norms, more realistic pricing and easing competition are starting to pull some buyers back into the market.

Market Snapshot: Surrey at a Glance

Across all property types in Surrey:

• Sales: 495 total (178 detached, 177 townhomes, 140 condos) — up 14–30% from September, though still down 20–35% from last year.

• Benchmark Prices (Month-over-Month):

  • Detached: $1,512,800 (▼ 0.6%)

  • Townhomes: $804,200 (▼ 1.4%)

  • Condos: $494,900 (▼ 0.6%)

• Year-over-Year: Prices are 5–7% below October 2024 across all categories.

Surrey’s detached homes now sit about $100,000 lower than a year ago, but the rate of decline has noticeably slowed. The sales-to-active listings ratio across the Fraser Valley climbed to 11%, indicating we remain in a buyer’s market, though edging closer toward balance.

Detached Homes: Buyers Regaining Leverage

Detached home sales in Surrey rose 15% compared to September, yet remain 24% below last year.

• Benchmark Price: $1,512,800

• Average Sale Price: $1,630,220

• Key Trend: Sellers who’ve adjusted to today’s more competitive environment are seeing results — average days on market remain steady around 42 days.

Neighbourhood performance varies:

• Cloverdale homes saw a small monthly dip (▼ 0.3%),

• North Surrey held flat (+0.3%)

• Central Surrey slipped slightly (▼ 0.5%).

These micro-trends suggest that buyers are still value-focused, gravitating toward well-priced, move-in ready homes.

Townhomes: Price Adjustments Creating Opportunity

Townhomes continue to attract steady buyer attention, with sales up 30% month-over-month in Surrey.

• Benchmark Price: $804,200 (▼ 1.4% from Sept, ▼ 6.7% year-over-year)

• Average Price: $814,899

Many townhomes are now priced below the psychological $800K threshold, creating opportunities for both upsizers and first-time buyers looking for affordability without sacrificing space.

Condos: Holding Steady After Earlier Softness

Condo activity picked up 13.8% compared to September, a sign of renewed entry-level demand.

• Benchmark Price: $494,900 (▼ 0.6% MoM, ▼ 6.0% YoY)

• Average Price: $498,348

While prices remain down roughly 12–13% from last fall, buyer interest is rising in North Surrey and Central City, particularly around transit-oriented projects and SkyTrain expansions.

Jon’s Take

“October’s data reinforces what we’ve been feeling on the ground - Motivated sellers are meeting motivated buyers where the market is today. The slowdown in new listings and easing prices are slowly restoring balance, especially in the detached and townhouse segments.

Heading into winter, this could be the window where strategic sellers stand out, particularly those pricing within the current buyer bandwidth rather than yesterday’s peak values.”

The Fraser Valley market continued to show signs of adjustment this September as elevated inventory levels applied downward pressure on prices, while at the same time sparking a modest bump in buyer activity.

Prices Continue to Ease

For the sixth month in a row, home prices declined across the region. The benchmark price for a typical Fraser Valley home dipped 1% month-over-month to $926,300, now 5.4% lower than this time last year.

• Detached homes: $1,420,000 (↓1.2% from August, ↓5.4% year-over-year)

• Townhomes: $795,600 (↓1.5% from August, ↓4.7% year-over-year)

• Condos/Apartments: $510,400 (↓0.7% from August, ↓6.3% year-over-year)

Sales Show a Modest Uptick

Sales activity picked up slightly, with 962 homes changing hands in September, up 3% from August. Still, sales remain subdued overall—2% lower than last year and 28% below the 10-year average.

Some buyers are beginning to re-enter the market, encouraged by the ongoing price softening and improved selection.

Inventory Remains Elevated

Supply continues to climb, giving buyers more choice and leverage.

• 3,447 new listings came to market in September, a 23% increase over August.

• Active listings reached 10,583, up 17% compared to September 2024—marking decade-high levels of inventory.

The overall sales-to-active listings ratio is at 9%, keeping the Fraser Valley firmly in buyer’s market territory. (For context, a balanced market is typically between 12% and 20%.)

Market Conditions by Property Type

• Detached homes averaged 37 days on market.

• Townhomes averaged 38 days.

• Condos averaged 39 days.

This shows properties are still moving but at a more deliberate pace compared to the peak market cycles.

What This Means Going Into Fall

The combination of high inventory and easing prices is creating opportunities for buyers who have been waiting on the sidelines. Sellers, on the other hand, are facing more competition and need to position their homes carefully to stand out.

As the Fraser Valley Real Estate Board notes, “As prices continue to weaken, the market is showing hopeful signs of renewed confidence.” With interest rates still weighing on affordability, motivated buyers are beginning to step back in, making this an interesting moment for both sides of the market.

Market Overview

The Fraser Valley real estate market continued to evolve in June, shaped by economic uncertainty, increasing inventory, and shifting buyer sentiment. While total sales across the region remained mostly flat, inventory reached its highest levels in over five years, providing buyers with greater choice and leverage.

In Surrey specifically, we remain in a buyer’s market, with home values continuing to soften across all property types. The Sales-to-Active Listings Ratio for the Fraser Valley held at 11 percent, well below the 12 to 20 percent range that defines a balanced market.

Surrey Housing Market – Key Figures

Apartments have seen the sharpest annual decline, falling 5.8 percent since June of last year, followed by detached homes at 5.4 percent, and townhomes at 3.6 percent.

Submarket Breakdown – Surrey Neighbourhoods

Central Surrey

• Detached Benchmark: $1,480,200 (-1.8% from May)

• Townhouse Benchmark: $824,200 (-0.3%)

• Apartment Benchmark: $547,800 (-1.1%)

• Detached sales declined 18.7 percent year-over-year. Active detached listings increased 26.9 percent from June 2024.

Cloverdale

• Detached Benchmark: $1,462,500 (-3.6% from May)

• Townhouse Benchmark: $841,500 (-0.6%)

• Apartment Benchmark: $575,000 (-1.8%)

• Detached sales dropped 34.7 percent compared to June 2024.

North Surrey

• Detached Benchmark: $1,447,600 (-0.2% from May)

• Townhouse Benchmark: $762,300 (-0.6%)

• Apartment Benchmark: $463,400 (-1.6%)

• Detached sales increased 44.1 percent from May, one of the few bright spots in an otherwise subdued market.

Fraser Valley Regional Snapshot

• Detached Benchmark (FVREB): $1,458,600 (-1.6% from May)

• Townhouse Benchmark (FVREB): $824,400 (-1.0%)

• Apartment Benchmark (FVREB): $526,500 (-1.2%)

• Average days on market:

  • Detached: 35 days

  • Townhouse: 30 days

  • Apartment: 39 days

Active listings reached 10,842, a 30% increase over this time last year. Total sales across all property types rose one percent month-over-month but remain nine percent below June 2024 and 33 percent under the 10-year average.

What This Means for Buyers and Sellers

For Buyers
This market presents rare opportunities. With increased supply and reduced prices, buyers have more room to negotiate. Detached home prices in Surrey are down over five percent compared to last year, and townhouse and condo values have followed suit. Serious, well-prepared buyers can secure favourable terms and properties that may have been out of reach 18 months ago.

For Sellers
Homes are still selling, but the days of aspirational pricing are behind us. Buyers are cautious and value-driven. Properties that are well-priced, professionally marketed, and properly presented are still moving, while overpriced listings risk sitting on the market. Strategic pricing and strong marketing execution are essential in this environment.

Final Thoughts

Market conditions continue to favour buyers, with price softness and growing inventory creating opportunities for those in a position to act. Sellers can succeed with an accurate market-read and a strategic plan. The key for both groups is understanding the hyperlocal nuances of Surrey’s submarkets and timing moves accordingly.

If you’re considering a purchase, sale, or would like an updated evaluation of your property in today’s market, I’d be happy to help. I provide straightforward, professional advice based on data and experience, backed by a lifetime of working and living here in Surrey.

Here’s a quick look at what’s happening in the Fraser Heights detached home market:

• Active Listings: 100

• Median Days on Market: 27

• Average Price Per Sq. Ft.: $544

• Total Sales: 23 (up 155.5% from 9 sales in April)

• Average Sale Price: $1,724,478

• Homes Sold for: 97.3% of list price on average

The market picked up sharply in May, with more than double the number of sales compared to April. Prices are holding steady, and homes are moving in under a month on average.

Curious what your home might be worth in this market?
Reach out any time for a free, no-obligation evaluation.

Jon Pereira
RE/MAX Performance Realty
📞 778-345-8897
📧 jon@jonpereirarealty.com
🌐 www.jonpereirarealty.com

Fleetwood is one of the most interesting markets to watch in Surrey right now. Between strong sale prices, steady buyer demand, and the rapid growth plans unfolding around the Surrey-Langley SkyTrain extension, there’s a lot happening in this neighbourhood.

If you’re a homeowner here, considering a move, or looking to invest in Surrey real estate, here’s what you need to know about Fleetwood this month.

Fleetwood Real Estate Snapshot — May 2025

Let’s start with the numbers. Here’s how the Fleetwood market performed in May:

• 190 active listings

• 63 new listings last month

• 18 homes sold

• Average sale price: $1,655,086

• Average price per square foot: $505

• Homes sold for 97.9% of list price on average

Detached homes and newer townhomes, especially those close to future SkyTrain stations, are leading the market in terms of demand and pricing.

What’s Happening with the Fleetwood Community Plan:

Beyond the market numbers, there’s a lot happening with city planning in Fleetwood that’s going to shape this neighbourhood for years to come.

Right now, Fleetwood’s Official Community Plan is in Step 4 of 5, meaning the city is finalizing details on how the area will grow as the SkyTrain arrives.

A few important updates:

• Urban Residential areas can now allow up to 55 units per hectare. That means more townhomes and low-rise condos will be built in areas that were previously single-family only.

• New Transit-Oriented Areas (TOAs) have been created around each SkyTrain station. These will allow for higher-density condos, mixed-use buildings, and more housing options for families.

• Six new school sites have been added to the plan, and the city is focusing on expanding and upgrading existing parks instead of trying to acquire new land.

• Expect more protected bike lanes, pedestrian-friendly streets, and improved roads as multi-family projects gradually replace older homes near SkyTrain hubs.

What this means: More housing variety and options coming soon, strong investment potential near SkyTrain expansion zones, better parks, schools, and recreational facilities for local families.

Why This Matters If You Own or Plan to Buy in Fleetwood

This is a smart time to assess your real estate strategy in Fleetwood. Whether you’re looking to buy, thinking about selling, or curious how these changes might affect your property’s value or redevelopment potential — having the right information now is key.

If you’d like a current value estimate for your home, want to know where the best buys are right now, or are simply curious about what’s happening near your property, I’d be happy to connect.

Feel free to reach out at 778-345-8897 or email jon@jonpereirarealty.com.

When buying or selling a home, transparency matters - and one of the most important documents in a real estate transaction here in BC is the Property Disclosure Statement (PDS).

It’s a form meant to protect both the buyer and the seller by making sure important information about a property’s condition is clearly communicated before a deal is finalized.

The Property Disclosure Statement was introduced by the BC Real Estate Association (BCREA) in 1991. Its goal? To give buyers peace of mind by having sellers disclose - truthfully and completely - any known issues or defects with a property.

At the same time, it protects sellers by confirming that all relevant information has been shared with prospective buyers.

What Does a PDS Cover?

The Residential PDS goes beyond the legal minimum disclosure requirements and asks about specific potential issues such as:

Buried oil tanks, Asbestos insulation, Unauthorized rental suites, Renovations done without permits, Moisture or water problems, Unregistered easements or encroachments, Past use as a grow-op or drug lab.

There are different versions of the form depending on the type of property:
Residential, Condominium, and Rural — each tailored to ask relevant questions.

How Does It Work?

The seller completes the PDS when they list the property with their REALTOR®.

The seller must update the statement if any new information arises before closing.

Prospective buyers typically review the PDS and may make their offer subject to receiving and approving it within a certain timeframe.

 Once satisfied, the buyer signs the PDS as well.

 A Few Things Buyers Should Know:

If a seller is unwilling to provide a PDS, or if a line has been drawn through the questions, it should raise a red flag.
In some cases - like estate sales, bank foreclosures, or absentee landlord properties - sellers may genuinely not know enough about the property to complete one.

Important: Even with a completed PDS, buyers are strongly encouraged to get an independent home inspection. The PDS reflects only what the seller knows at the time of disclosure - it’s not a warranty or guarantee about the home’s condition.

Use it as a Starting Point, Not the Final Word.

The Property Disclosure Statement is a helpful tool for understanding a property’s history and condition, but it’s just one piece of the puzzle.

Buyers are still expected to do their own due diligence, conduct inspections, and ask questions. As the saying goes - “buyer beware” is still very much a part of real estate.

If you’d like to see what a blank PDS looks like or have questions about how it works in your buying or selling process, feel free to reach out anytime. I’m always happy to help.

Jon Pereira
📱 778-345-8897
📧 jon@jonpereirarealty.com
🌐 www.jonpereirarealty.com