Declining prices and high inventory strengthen buyer’s market heading into fall
SURREY, BC – Fraser Valley home sales fell more than 20 per cent in August, but buyers who did get into the market were able to take advantage of favourable conditions including abundant choice, softer prices and more time to make decisions.
Sales and Inventory
The Fraser Valley Real Estate Board recorded 931 sales on its Multiple Listing Service® (MLS®) in August, down 22% from July and down 13% year-over-year. August sales were 36% below the 10-year average.
The buyer’s market remains strong with inventory levels holding relatively stable, down 2% to 10,445 active listings. Newly listed homes declined 19% month-over-month to 2,793; up 0.5% year-over-year.
The overall sales-to-active listings ratio for August dropped to 9%, down two percentage points from July. (Balanced market: 12%–20%.)
What This Means for Buyers
“Current market conditions are allowing buyers the opportunity to make bold offers, especially for properties that have been on the market for a while and where sellers may be more motivated,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “As in all transactions, timing is everything and we expect to see more buyers come off the sidelines heading into fall to take advantage of the lower price floor.”
Days on Market
- Condos: 41 days (average)
- Single-family detached: 38 days (average)
- Townhomes: 32 days (average)
Market Context
“The economic uncertainty that has shaped the housing market for much of 2025 now seems to have been factored into market dynamics, as evidenced by a sustained softening of prices,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Some buyers who had been holding off are starting to recognize that waiting for greater certainty could mean missing opportunities, particularly in a market where conditions now clearly favour buyers.”
Benchmark Prices (MLS® HPI)
The composite Benchmark price in the Fraser Valley decreased 0.9% in August to $936,200.
- Single-Family Detached: $1,436,800 (↓ 1% vs. July 2025; ↓ 5.7% vs. August 2024)
- Townhomes: $807,800 (↓ 0.9% vs. July 2025; ↓ 4.5% vs. August 2024)
- Apartments/Condos: $514,100 (↓ 1% vs. July 2025; ↓ 5.9% vs. August 2024)
Source - FVREB