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.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.