May Market Update

May is now behind us, and I’ve got your latest update on the Fraser Valley housing market.

After a quieter April, May brought a modest but welcome lift in home sales across the Fraser Valley. An early sign that buyer confidence may be slowly returning to the market.

The Board recorded 1,183 sales in May, up 13% from April, though still 22% below May 2024 and 36% below the 10-year seasonal average.

Inventory continues to build, with more than 10,600 active listings - a 6% increase from April and 34% higher than this time last year. New listings also rose 7% month-over-month to 4,007.

“High inventory in the Fraser Valley is giving buyers more choice, but it also means sellers are facing more competition,” says Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “We’re seeing that homes priced appropriately for today’s market are selling, while sellers who aren’t in a rush are choosing to hold off or stand firm on pricing.”

Right now, the Fraser Valley remains firmly in a buyer’s market, with a sales-to-active listings ratio of 11%. (For reference: a balanced market typically falls between 12% and 20%.) On average, detached homes sold in 34 days, townhomes in 27 days, and condos in 33 days.

Fraser Valley Benchmark Prices – May 2025:

Single Family Detached: $1,481,900
⬇️ 1.6% from April 2025
⬇️ 3.2% from May 2024

Townhomes: $832,800
⬇️ 0.03% from April 2025
⬇️ 2.5% from May 2024

Apartments: $532,700
⬇️ 0.9% from April 2025
⬇️ 4.0% from May 2024

 As Baldev Gill, CEO of the Fraser Valley Real Estate Board, notes, many buyers remain cautious, keeping a close eye on the economy, job security, and cost of living. As soon as greater confidence starts to return, we could see more activity pick up in the market.

Wishing you all a great June ahead - and as always, if you have any questions or need anything real estate-related, feel free to reach out!

Jon Pereira
RE/MAX Performance Realty
📱 778-345-8897
📧 jon@jonpereirarealty.com
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