Fraser Valley Market Update: Jan 2025

By Jayson Sidhu

Jayson Sidhu is a trusted real estate advisor with over 17 years of award-winning service in the North Delta and Surrey areas.

The Fraser Valley real estate market is kicking off 2025 with a surge in new listings, giving buyers more choices than they’ve had in years. Inventory levels have reached a decade high. However, sales have slowed, creating a different dynamic compared to previous years. Here’s a closer look into the market’s performance and what it means for you:

Sales activity. Home sales in January showed an unusual decline with:

• 818 total home sales recorded
• Down 17% from December 2024
• Down 12.8% from January 2024

A drop in sales from December to January is unusual, but with stable prices and more homes on the market, buyers who have been waiting may now find better opportunities. Sellers who price and market their homes well are still attracting strong interest.

New listings and inventory. The number of homes hitting the market has increased significantly with:

• 3,432 new listings in January, up 167% from December
• 7,251 total active listings, the highest January level in a decade
• 54% above the ten-year average

With more inventory available, the sales-to-active listings ratio has dropped to 11%, putting the overall market in buyer’s territory, especially for detached homes. A balanced market typically falls between 12-20%, making this shift important for both buyers and sellers to consider.

Home prices: Benchmark prices across property types remain stable with the following numbers:

• Single-family homes: $1,482,400 (-0.1% from December, -0.6% year-over-year)
• Townhomes: $826,000 (+0.2% year-over-year)
• Condos: $534,600 (-1.2% year-over-year)

Market outlook. Right now, the market seems to be in a holding pattern. Affordability concerns and economic uncertainty are likely influencing buyer decisions, especially with ongoing tariff negotiations. However, as the Bank of Canada is expected to cut rates later this year and the spring market approaches—historically the busiest time of year—activity could pick up in the coming months.

If you’re considering a move in 2025, understanding these trends is essential. If you have questions or need guidance, don’t hesitate to reach out. You can call me at 604) 805-5897 or send an email to Jayson@JaysonSidhu.com. I look forward to hearing from you.