The Fraser Valley real estate market is continuing its seasonal cooldown, offering great opportunities for buyers — but it’s clear that pricing is the key to successful sales right now.
Market Overview
📉 Sales: 1,190 homes sold in July, down slightly from June and 3.3% lower than July 2024
🏡 Active Listings: 10,650 properties — nearly 50% above the 10-year average
💰 Benchmark Prices:
Detached: $1,451,100 (-5.1% YoY)
Townhomes: $814,900 (-4.0% YoY)
Condos: $519,300 (-5.8% YoY)
👉 The sales-to-active listings ratio is just 11%, keeping us firmly in a buyer’s market. Sellers need to price realistically, stage homes well, and be prepared for longer selling timelines — average time on market is 38 days.
Quick Market Snapshots by Community
🏡 Langley
Detached: $1,598,600 (-2.2% YoY)
Townhouse: $852,300 (-3.0% YoY)
Apartment: $590,900 (-4.4% YoY)
📊 Detached homes held steady, while condo prices saw the largest drop.
🏘️ Surrey (All Areas Combined)
Detached: $1,561,700 (-6.1% YoY)
Townhouse: $838,700 (-4.4% YoY)
Apartment: $511,600 (-6.0% YoY)
📉 Prices across all housing types have softened. Still a lot of inventory for buyers to choose from.
🌊 White Rock / South Surrey
Detached: $1,837,300 (-7.2% YoY)
Townhouse: $928,200 (-4.3% YoY)
Apartment: $584,400 (-8.0% YoY)
🏖️ Luxury market is adjusting — strong price declines here offer buying opportunities.
🛠️ Abbotsford
Detached: $1,180,200 (-4.4% YoY)
Townhouse: $653,400 (-2.0% YoY)
Apartment: $424,400 (-5.3% YoY)
📈 Detached homes are holding value better than condos. Still relatively affordable across the board.
🌲 Mission
Detached: $1,033,100 (-1.5% YoY)
Townhouse: $663,000 (-3.3% YoY)
Apartment: $441,500 (-5.4% YoY)
📍 One of the more stable markets in the Valley right now.
🌆 North Delta
Detached: $1,333,600 (-9.5% YoY)
Townhouse: $932,900 (-5.5% YoY)
Apartment: $555,800 (-4.8% YoY)
📉 North Delta saw the largest YoY drop in detached home prices in the Fraser Valley.
What This Means for Buyers & Sellers
🔑 Buyers: You have the upper hand. More selection, lower prices, and sellers motivated to negotiate.
📉 Sellers: It’s time to be strategic. Price accurately, present your home well, and be patient — properties are taking longer to sell.
📞 Thinking of buying or selling in Langley or the Fraser Valley? I’d love to help you navigate today’s market with confidence. Reach out anytime for expert, no-pressure advice.
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