May Brings Much-Needed Lift to Fraser Valley Housing Market

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.

As we move further into the year, many are wondering whether the Fraser real estate market is beginning to gain momentum. May brought a few notable changes across the market, and while activity remains slower than historical averages, recent figures suggest a market that is beginning to reengage. Understanding what is happening now can help both buyers and sellers plan with greater confidence. Here’s what you need to know:

Market sales increase. Total home sales for May reached 1,183, a 13% increase from April. While this month-over-month gain is a positive development, sales remain 22% below May 2024 figures and 36% below the ten-year seasonal average. This indicates that while market activity is improving, a full recovery has not yet materialized.

Market listings. New listings totaled 4,007 in May, up 7% from the previous month. Active inventory has now grown to 10,626 homes, reflecting a 6% monthly increase and a 34% rise compared to last year. This expanded inventory provides buyers with a wider range of options and greater flexibility in their decision-making.

Buyer’s market conditions. The sales-to-active listings ratio remains at 11%, underscoring current buyer’s market conditions. A balanced market typically falls between 12% and 20%, so the current figure continues to favor buyers.

Benchmark prices across all property types showed minor declines. The benchmark price for a single-family home now stands at $1,481,900, down 1.6% from April and 3.2% year-over-year.

Townhomes are priced at $832,800, reflecting a slight monthly decrease and a 2.5% drop from last year. Condominiums have a benchmark price of $532,700, down 0.9% from the previous month and 4% below May 2024 levels.

Current market conditions are being shaped by both supply and sentiment. High inventory levels offer buyers more negotiating power and choice. However, broader economic concerns—such as inflation, job security, and the rising cost of living—continue to temper buyer confidence.

I share these updates to help you make informed decisions regarding your most valuable investment—your home. 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.