The Fraser Valley remains in a strong buyer’s market as fall approaches, with inventory levels holding at decade-high levels and sales softening throughout the summer.
Home sales declined more than 20 per cent in August and continue to lag well below both year-over-year sales and the 10-year seasonal average. August sales were down 22 per cent from July and 13 per cent below August 2024 sales.
Inventory levels are holding steady, down just two per cent month-over-month, but up 21 per cent year-over-year to 10,445 active listings. New listings declined 19 per cent in August to 2,793, up 0.5 per cent year-over-year.
All of these factors combined to bring the overall sales-to-active listings ratio down to nine per cent from 11 per cent in July, and firmly in a buyer’s market. The market is considered balanced when this ratio is between 12 per cent and 20 per cent.
Sales-to-Active Ratio
Detached: 9% (down 1% from July)
Townhouses: 14% (down 3% from July)
Apartments: 10% (down 4% from July)
Benchmark Prices
The composite Benchmark price in the Fraser Valley declined for the fifth straight month, down 0.9 per cent to $936,200.
Change in price: month-to-month
Detached: $1,436,800 -1.0%
Townhouse: $807,800 -0.9%
Apartments: $514,100 -1.0%
Days on Market
Across the Fraser Valley in August, the average number of days to sell a condo was 41 days; while for a single-family detached home it was 38 days. Townhomes took, on average, 32 days to sell.
To learn more about HPI Benchmark prices by sub-area, click here. For a more detailed look at the Fraser Valley market watch Eye on the Market or click here to view the Monthly Statistics Package.