May brought little change to overall sales activity in the Fraser Valley, but market conditions continue to favour buyers. With more than 10,000 active listings available and home prices easing after two months of gains, buyers are finding increased opportunities, particularly those looking to move into larger homes as affordability improves.
The Fraser Valley Real Estate Board recorded 1,124 sales on its MLS® in May, virtually unchanged from April (an increase of half a per cent), five per cent below May 2025 levels, and 32 per cent below the 10-year seasonal average. Despite economic uncertainty and affordability pressures, buyer demand has remained remarkably consistent over the past two months.
At the same time, new listings declined to 3,300 in May, down seven per cent from April and nearly 18 per cent compared to the same month last year. The slowdown suggests some sellers may be waiting on the sidelines as competition among listings remains high.
Active listings rose to 10,140, up three per cent from April. With more homes available and fewer new listings entering the market, buyers are enjoying greater choice, more time to make decisions, and stronger negotiating power than they have seen in years.
The result is a market that continues to favour buyers. The sales-to-active listings ratio remained at 11 per cent in May, below the 12 to 20 per cent range typically associated with balanced market conditions.
Sales-to-Active Listings Ratio
Detached: 12%
Townhouses: 18%
Apartments: 11%
Benchmark Prices
Prices softened slightly in May. Benchmark prices edged down across all major housing types compared to April. The composite Benchmark price decreased 0.7 per cent month-over-month to $893,300
Change in price: month-to-month
- Detached: $1,366,500 (-0.6% month-over-month, –7.9% year-over-year)
- Townhomes: $769,500 (-0.3% month-over-month, –7.6% year-over-year)
- Apartments: $483,800 (-1.5% month-over-month, –8.8% year-over-year)
Days on Market
Homes are continuing to sell at a steady, but unhurried pace. In May, detached homes took an average of 35 days to sell, while townhomes averaged 37 days on the market. Condos took, on average, 40 days to sell.
To learn more about HPI Benchmark prices by sub-area, click here and for this month’s Eye on the Market, click here. For a more detailed look at the Fraser Valley market click here to view the Monthly Statistics Package.