Tariffs and ongoing economic uncertainty are casting a shadow on the early spring market in the Fraser Valley, making for the slowest start in more than 15 years.
The Board recorded 1,036 sales in March, up 13 per cent from February, but down 26 per cent year-over-year. Sales continue to lag well below the 10-year seasonal average; 47 per cent below in March.
Despite an increase in month-over-month sales, new listings are rising even faster, and overall inventory continues to build. New listings increased 22 per cent in March to 3,800, up 27 per cent year over year. Active listings are building to levels not seen in more than 10 years, with 9,219 active listings on the market, 49 per cent above March 2024 and 59 per cent above the 10-year average.
Sales-to-Active Ratio
Detached: 10% (no change from February)
Townhouses: 19% (down 1% from February)
Apartments: 14% (up 1% from February)
Benchmark Prices
The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4 per cent to $974,400.
Change in price: month-to-month
Detached: $1,505,500 +0.4%
Townhouse: $833,700 +0.5%
Apartments: $540,900 +0.5%
Days on Market
Homes across the Fraser Valley sold in fewer days in March compared to February. The average number of days to sell a single-family detached home was 31, while for a condo it was 33. Townhomes took, on average, 27 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.