Market dynamics in the Fraser Valley shifted slightly in October as sales activity gained momentum for the second month in a row. Softer pricing and persistently high inventory appear to be drawing some buyers back to the table.
The Fraser Valley Real Estate Board recorded 1,123 sales on its Multiple Listing Service® (MLS®) in October — a 17 per cent increase from September, yet still 16 per cent below the same month last year and 23 per cent below the 10-year seasonal average. The increase marks a modest sign of renewed confidence, even as many buyers continue to wait for further price adjustments.
After a temporary uptick in September, new listings slowed in October to 2,967, down 14 per cent month-over-month and seven per cent year-over-year. Despite the decline, total inventory remains elevated, with 10,121 active listings; four per cent lower than September but still 15 per cent higher than a year ago.
The combination of stronger sales and slightly lower inventory lifted the Fraser Valley’s sales-to-active listings ratio to 11 per cent in October, up from nine per cent in September. While this indicates a mild tightening, the market remains firmly in buyer’s territory, with balance typically defined between 12 and 20 per cent.
Sales-to-Active Ratio
Detached: 11% (up 2% from September)
Townhouses: 18% (up 5% from September)
Apartments: 12% (up 2% from September)
Benchmark Prices
The composite Benchmark price for all home types in the Fraser Valley decreased 0.7 per cent month-over-month to $919,900, marking a 5.3 per cent decline compared to October 2024.
Change in price: month-to-month
- Detached: $1,411,900 –0.6%
- Townhouse: $786,000 –1.2%
- Apartments: $506,400 –0.8%
Days on Market
Across the Fraser Valley in October, the average number of days to sell both a single-family detached home and a condo was 42 days; while for a townhome it was 37 days.
To learn more about HPI Benchmark prices by sub-area, click here. For a more detailed look at the Fraser Valley market click here to view the Monthly Statistics Package.