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If you’re house-hunting in the Fraser Valley, conditions are tilted in your favor this summer. The catch? Buyers and sellers still can’t quite agree on price, and that tug-of-war is keeping sales lower than usual.
The Fraser Valley Real Estate Board logged 1,190 sales in July—basically the same as June (down 0.5%) and about 3% lower than last year. That’s also a hefty 23% below the 10-year average, meaning it’s been a quieter summer for sold signs.
On the supply side, we saw a slight dip in listings in July: total homes for sale came in at 10,650 (down 2% from June, but still nearly 50% above normal for this time of year). New listings hit 3,453, down 5% from June. With so many homes still on the market, we’re firmly in buyer’s market territory, with a sales-to-listings ratio of just 11% (a balanced market is 12–20%).
“Sellers definitely have to hustle more than they did a year or two ago,” said FVREB Chair Tore Jacobsen. “Buyers are picky and spoiled for choice, so sellers who price realistically, stage smartly, and fix things up ahead of time are the ones getting results.”
Days on Market
Detached Homes: 38 days (on average)
Condos: 38 days
Townhomes: 35 days
So if you’re selling, expect it to take about a month—unless you’re wildly underpriced, in which case, your neighbors will probably line up first.
Pricing Trends
Benchmark (all housing types): $944,800 (down 0.7% from June)
Detached Homes: $1,451,100 (down 0.5% from June, down 5.1% year-over-year)
Townhomes: $814,900 (down 1.2% from June, down 4.0% year-over-year)
Condos: $519,300 (down 1.4% from June, down 5.8% year-over-year)
So yes—prices are still sliding a bit, but not falling off a cliff.
The Bottom Line
It’s a buyer’s market with plenty of choice and sellers who need to stay flexible. Think of it as speed dating with houses: buyers are swiping left a lot, but with the right price and a little polish, the right match can still happen.
