Market Snapshot
- Buyer’s Market: Over 10,000 active listings, the highest in more than a decade, giving buyers more options and negotiation power.
- Sales: 1,043 homes sold in April (up 1% from March, but down 29% year-over-year).
- New Listings: 3,762 new listings, slightly down from March and 5% lower than April 2024.
- Sales-to-Active Listings Ratio: 10%, indicating a buyer’s market (balanced market is 12–20%).
Price Trends
- Composite Benchmark Price: $972,700 (down 0.2% from March, down 3.5% from April 2024).
- Detached Homes: $1,506,600 (up 0.1% from March, down 1.3% year-over-year).
- Townhomes: $833,100 (down 0.1% from March, down 2.4% year-over-year).
- Apartments: $537,800 (down 0.6% from March, down 3.2% year-over-year).
Regional Highlights
- Abbotsford: Detached benchmark price $1,211,600 (down 2.1% year-over-year). Sales dropped across all property types.
- Mission: Detached benchmark price $1,062,100 (down 0.2% year-over-year). Sales down sharply.
- White Rock/South Surrey: Detached benchmark price $1,910,800 (down 2.6% year-over-year). Listings up, sales down.
- Langley: Detached benchmark price $1,650,700 (up 0.4% year-over-year). Sales down, listings up.
- North Delta: Detached benchmark price $1,404,100 (down 1.2% year-over-year).
- Surrey: Detached benchmark price $1,627,800 (down 1.7% year-over-year).
Market Insights
- Average days on market: 32 for detached homes, 29 for townhomes and condos.
- Economic uncertainty and tariffs are affecting buyer confidence, but there is cautious optimism following the federal election.
Long-Term Perspective
- Despite recent declines, 3-, 5-, and 10-year price growth remains strong across most Fraser Valley communities.
Want more details for your city or property type? Let me know!