As we transition into September, I'm sitting down with the latest Fraser Valley Real Estate Board statistics from August, and they tell a story that every buyer and seller in our region needs to understand. After 25 years serving this community—first as a firefighter responding to emergencies, now helping families navigate their real estate journeys—I've learned that knowledge is your best tool for making confident decisions.
August's numbers reveal a market that has shifted decisively in favour of buyers, creating opportunities we haven't seen in years while requiring sellers to adapt their strategies accordingly. Whether you're in South Surrey, upgrading to White Rock, or thinking about selling your Langley home, these statistics provide the roadmap for your next move.
Let me break down what happened in August and what it means for your housing goals as we head into fall.
📊 The Numbers That Matter: August 2025 Market Reality
August delivered some of the most buyer-friendly conditions the Fraser Valley has experienced in recent memory. Home sales dropped to just 931 transactions—a significant 22% decline from July and 13% lower than August 2024. To put this in perspective, sales were running 36% below the 10-year average for August, indicating this isn't just seasonal slowness but a fundamental shift in market dynamics.
Meanwhile, inventory remains abundant with 10,445 active listings on the market at month's end. While this represents only a 2% decrease from July, it's a substantial 21% increase compared to August 2024. This combination of fewer buyers and more choices creates a sales-to-active listings ratio of approximately 9%—well into buyer's market territory since anything below 12% favours purchasers.
What does this mean practically? Homes are taking longer to sell—an average of 38 days for detached houses, 32 days for townhomes, and 41 days for condos. As your trusted advocate who's helped countless families through various market conditions, I can tell you this extended timeline actually benefits serious buyers by allowing thorough due diligence without the pressure of competing offers.
📉 Price Adjustments: The Market Finds Its New Level
Fraser Valley benchmark prices continued their gradual decline in August, with the composite benchmark dropping 0.9% from July to approximately $936,200. This represents a sustained cooling that reflects economic uncertainty being "factored into" market dynamics, as the FVREB noted.
Looking at specific property types, detached homes benchmarked at $1,436,800 (down 1.0% monthly and 5.7% annually), townhouses at $807,800 (down 0.9% monthly and 4.5% annually), and apartments at $514,100 (down 1.0% monthly and 5.9% annually). While these might seem like modest declines, they represent significant savings—roughly $85,000 less for a detached home compared to August 2024.
From my renovation background, I understand that well-maintained, move-in-ready homes priced competitively can still attract strong interest. The key is realistic pricing from day one rather than testing the market with inflated expectations.
🏡 For Buyers: Your Time Has Arrived
Current conditions offer buyers leverage that would have been impossible during the seller's markets of recent years. As FVREB Chair Tore Jacobsen observed, today's environment allows buyers to "make bold offers, especially for properties that have been on the market for a while and where sellers may be more motivated."
This translates into real advantages. You can take time for proper inspections, negotiate subjects into offers, and avoid the bidding wars that characterized previous years. With abundant inventory, you're shopping from a position of strength rather than desperation.
The affordability improvement, while modest, is meaningful. That 5% price decline from last year can save tens of thousands on a purchase, and you're not competing against dozens of other buyers for the same property.
However, financial readiness remains crucial. Get pre-approved for financing, understand your true budget including potential interest rate changes, and focus on value—particularly well-priced, move-in-ready properties where sellers are clearly motivated.
📈 For Sellers: Strategy Over Hope
Selling in our current market requires a fundamentally different approach than the recent seller's markets many homeowners experienced. With buyers having abundant choice and negotiating power, your success depends on three critical factors: pricing, presentation, and patience.
Realistic pricing from day one isn't optional—it's essential. Overpriced listings are sitting on the market longer, which further reduces their perceived value. Buyers quickly pass over properties they consider unrealistic on price, and with 9% of listings selling monthly, you can't afford to be in the 91% that don't move.
Property presentation matters more now because buyers have alternatives. Minor improvements, professional staging, and ensuring your home shows move-in ready can provide the competitive edge needed in this environment.
Patience becomes part of your strategy. With average selling times extending beyond a month, plan for a longer timeline while staying flexible in negotiations. The first serious offer you receive may be your best, so give it careful consideration rather than holding out for better terms that might not materialize.
🍂 Fall 2025 Outlook: Buyer's Market Continues
All indicators suggest buyer-favourable conditions will persist through fall 2025. Elevated inventory, cautious buyer sentiment, and continued price softening point toward an extended buyer's market.
We may see modest seasonal uptick in activity as families who spent summer planning make their moves before winter. FVREB Chair Jacobsen expects more buyers to "come off the sidelines heading into fall" to capitalize on current pricing levels. However, any increase in demand is unlikely to dramatically shift market dynamics overnight.
Looking ahead to 2026, potential interest rate cuts could change the equation. BMO Capital Markets suggests the Bank of Canada might begin reducing rates by early 2026 if economic conditions permit. Lower borrowing costs could improve affordability and bring more buyers into the market, potentially moving us toward more balanced conditions.
For now, expect fall 2025 to remain advantageous for buyers while challenging for sellers who must compete more aggressively for the available buyer pool.
📝 Your Action Plan: Making the Most of Current Conditions
If You're Buying: Start with financial preparation. Get pre-approved, understand your budget, and identify target neighbourhoods. Use the abundant inventory to your advantage by touring multiple properties and taking time for thorough due diligence. Don't rush—this market rewards patience and careful evaluation.
Focus on value rather than trying to time further price declines. Well-maintained properties in desirable areas at competitive prices represent solid opportunities, especially if you plan to hold long-term.
If You're Selling: Begin with realistic price expectations based on recent comparable sales, not peak market values from previous years. Invest in presentation—both property condition and professional marketing—to differentiate your listing from abundant competition.
Consider your next steps. If you're planning to buy after selling, current market conditions might actually work in your favour on the purchase side, offsetting some selling challenges.
For Everyone: Remember that real estate decisions should align with your personal circumstances and timeline rather than attempts to perfectly time market movements. Whether you're buying or selling, work with professionals who understand current local dynamics and can adapt strategies as conditions evolve.
✅ The Bottom Line: Opportunity Meets Preparation
August 2025's statistics confirm what I've been telling clients throughout this year: we're experiencing a genuine buyer's market that creates opportunities for prepared purchasers while requiring strategic thinking from sellers.
As your community-focused real estate advocate who's guided families through hot markets, cool markets, and everything in between, I believe success comes from understanding current realities rather than hoping for different conditions.
The Fraser Valley market is providing clarity about pricing, inventory, and buyer behaviour that smart participants can use to their advantage. Whether you're ready to make your first home purchase, upgrade to accommodate a growing family, or right-size for the next chapter of your life, current conditions offer genuine opportunities for those who approach them strategically.
Ready to discuss how these market dynamics apply to your specific situation? Let's create a personalized strategy that takes advantage of current conditions while preparing for potential changes ahead. In markets like this, the right guidance makes all the difference between missing opportunities and achieving your housing goals.
Evan Bird combines over 25 years of Fraser Valley community service as a firefighter with extensive renovation expertise to help families navigate their real estate journeys. His First Responder Program provides additional support to those who serve our communities. Contact Evan for personalized market analysis and strategic guidance in Surrey, Langley, Abbotsford, Chilliwack, and throughout the Fraser Valley.