As we head deeper into summer, the Fraser Valley real estate market continues to reflect a quieter tone—shaped largely by ongoing economic uncertainty. While activity has slowed, opportunities are quietly emerging for those prepared to take advantage of softer conditions.
Sales Remain Flat, But Inventory Grows
June saw a total of 1,195 home sales across the Fraser Valley, marking a modest 1% increase compared to May. While this month-over-month change was slight, it signals a relatively stable pace of sales as we move through the summer market. However, when compared to the same time last year, sales were down by 9%, continuing a trend of softer activity. More notably, sales remain 33% below the 10-year average, highlighting the ongoing caution among both buyers and sellers amid higher borrowing costs and broader economic uncertainty.
One of the more significant developments in June was the continued growth in housing inventory. Active listings climbed to nearly 11,000, up 2% from May and a substantial 30% increase year-over-year.
This rise in supply suggests that more homeowners are opting to list their properties, potentially in response to improved weather conditions or a desire to capture demand ahead of any future rate adjustments.
Interestingly, despite the increase in total inventory, the number of new listings coming to market actually declined, down 10% compared to May. This shift has helped bolster existing inventory levels, giving buyers more options and negotiating power. The result is a sales-to-active listings ratio of 11%, reinforcing that the Fraser Valley continues to sit firmly in buyer’s market territory—a condition typically defined by ratios below 12%.
Looking ahead, market dynamics may continue to shift depending on interest rate changes and buyer confidence. For now, increased inventory and moderated demand are creating a more balanced playing field, especially for those looking to enter the market or upsize with less competition.
More Choices, Less Pressure
For buyers who are financially ready and able to navigate today’s uncertainty, this market offers more options and less competition. With prices softening and homes staying on the market longer, it could be the right time to act—especially for first-time buyers or those looking for more space.
Homes Taking Longer to Move
In June, the average time to sell varied by property type:
Condos: 39 days
Detached Homes: 35 days
Townhomes: 30 days
This extra time reflects a more cautious buyer pool—but also creates opportunities for thoughtful negotiation.
Pricing Trends Continue to Dip
Home prices across the Fraser Valley edged down again in June, continuing the softening trend we’ve seen over recent months.
Slower sales activity, growing inventory, and cautious buyer sentiment are all contributing to downward pressure on prices across all property types. Year-over-year and month-over-month declines suggest a more balanced market, with buyers regaining negotiating power and sellers needing to price strategically to stay competitive.
Here’s how benchmark prices shifted in June:
Detached Homes: $1,458,600 (↓1.6% from May, ↓4.6% from June 2024)
Townhomes: $824,400 (↓1.0% from May, ↓3.1% from June 2024)
Apartments: $526,500 (↓1.2% from May, ↓4.5% from June 2024)
If this trend continues, we may see greater affordability opportunities for buyers in the months ahead—especially as more inventory enters the market and competition remains low.
Where Do You Fit Into This Market?
If you're wondering whether now is the right time to buy, sell, or hold—you're not alone. Every market offers its own set of opportunities, and what makes sense for one person may not be right for another.
📍 Whether you’re considering your first home purchase, thinking of upsizing, or planning a long-term move, having the right information and guidance makes all the difference.
We’d be happy to help you explore what today’s market means for you. Let’s start the conversation—on your terms, and with your goals in mind.
