Evan Bird Real Estate Blog

Market Snapshot

• Sales Activity
  In June, 1,195 homes were sold in the Fraser Valley MLS®—a slight 1% increase from May, but still about 9% lower than June 2024 and 33% below the 10‑year average .

• Buyer’s Market in Full Swing
  Inventory continues to swell, with nearly 11,000 active listings—2% more than May and 30% higher than last year. Meanwhile, new listings dropped by 10% month-over-month to 3,618 . With a sales-to-active-listings ratio of 11%, the market remains firmly in buyer territory (a balanced market sits between 12–20%) .

Price Trends

• Overall Benchmark Price
  Prices have eased slightly, with the composite benchmark in the Fraser Valley dipping 1.2% from May to land at $951,500 .

• By Property Type

  • Detached homes: $1,458,600 (–1.6% from May; –4.6% year-over-year)

  • Townhomes: $824,400 (–1.0% from May; –3.1% from June 2024)

  • Condo/apts: $526,500 (–1.2% from May; –4.5% from previous June)

Days to Sell (Average)

• Detached homes: 35 days

• Townhomes: 30 days

• Condos: 39 days

Regional Highlights

• Surrey experienced a 7% drop in total sales year-over-year; benchmark prices for detached homes fell to $1.573 million and condos to $513,800 .

• White Rock / South Surrey recorded a 33% jump in detached home sales, though benchmark prices eased by over 6% to $1.846 million .

What It All Means for Buyers & Sellers

For Buyers

This is a strong buyer’s market. With ample choices, slower sales, and declining prices, conditions are favourable—especially for first-time buyers who can tolerate economic uncertainties .

For Sellers

Reduced demand means listings are taking longer to move. To stand out, sellers may need to price competitively and differentiate their homes through thoughtful staging and marketing.

Looking Ahead

Economic uncertainty—driven by trade, tariffs, and broader market forces—continues to weigh on buyer confidence . The Fraser Valley Real Estate Board suggests this could be an opportune moment for policymakers to reassess current housing strategies to better align with today’s realities .

In Summary

• Sales: Slight monthly increase, but down annually and compared to the decade average

• Inventory: Rising supply with decreasing new listings makes for a competitive buyer landscape

• Pricing: Modest month-over-month dips across all housing types

• Pace of Market: Homes are selling more slowly than in the past

If you're considering entering the market, now may be a strategic time—whether buying or selling—with the caveat of heightened economic caution.