SURREY, BC – Decade-high inventory and softer prices failed to spark buyer demand in the Fraser Valley in 2025. Despite favourable conditions and increased negotiating power, many buyers stayed on the sidelines, making it one of the slowest years for sales in decades.
The Fraser Valley Real Estate Board recorded 12,224 sales on its Multiple Listing Service® (MLS®) in 2025, a decline of 16 per cent over 2024 and 33 per cent below the 10-year average. The City of Surrey accounted for the majority of 2025 sales at 48 per cent, with Langley and Abbotsford accounting for 24 per cent and 16 per cent respectively.
On the supply side, buyers had more choice than at any point in the past four decades, as new listings climbed to 37,963.
The composite Benchmark home price in the Fraser Valley closed the year at $905,900, down six per cent year-over-year, and down 24 per cent from the peak in March 2022.
“Ample selection and easing prices gave buyers some of the most meaningful opportunities we’ve seen in recent years,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “While these conditions favoured motivated sellers in 2025, the hesitancy of many buyers to capitalize reflected the general market climate throughout the province and indeed across the country.”
Home sales registered in the Multiple Listing Service® (MLS®) in Metro Vancouver* finished the year down 10 per cent, marking the lowest annual sales total in over twenty years.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 23,800 in 2025, a 10.4 per cent decrease from the 26,561 sales recorded in 2024, and a 9.3 per cent decrease from the 26,249 sales in 2023.
Metro Vancouver* home-sale trends observed in October continued in November, as sales registered on the MLS® remained lower than this time last year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,846 in November 2025, a 15.4 per cent decrease from the 2,181 sales recorded in November 2024. This was 20.6 per cent below the 10-year seasonal average (2,324).
““As the year draws to a close, the data continues telling a story of a market with many buyers patiently waiting and sellers adjusting to market conditions not seen in years. Inventory remains healthy, providing buyers ample choice, which, by contrast, is pushing sellers to accept that pricing must reflect this new reality. Buyers and sellers are striking deals when their expectations are aligned and reflective of the current market – not the market of years ago.””
Andrew Lis, GVR chief economist and vice-president data analytics
There were 3,674 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2025. This represents a 1.4 per cent decrease compared to the 3,725 properties listed in November 2024. This was 3.1 per cent above the 10-year seasonal average (3,562).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 15,149, a 14.4 per cent increase compared to November 2024 (13,245). This is 36.3 per cent above the 10-year seasonal average (11,116).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for November 2025 is 12.6 per cent. By property type, the ratio is 9.7 per cent for detached homes, 13.6 per cent for attached, and 14.8 per cent for apartments.
Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
“As sales volumes remain subdued and inventory remains plentiful, properties are taking longer to sell, and pricing has continued to soften slightly across most market segments,” Lis said. “With borrowing costs likely to remain steady into the new year, any uptick in demand will need to arise from a significant change in buyer sentiment. As December is typically among the quietest months of the year in terms of market activity, the prevailing trends suggest we should expect a quiet close to a year marked by considerable uncertainty.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,123,700. This represents a 3.9 per cent decrease over November 2024 and a 0.3 per cent decrease compared to October 2025.
Sales of detached homes in November 2025 reached 541, a 13.6 per cent decrease from the 626 detached sales recorded in November 2024. The benchmark price for a detached home is $1,900,600. This represents a 4.3 per cent decrease from November 2024 and a 0.4 per cent decrease compared to October 2025.
Sales of apartment homes reached 945 in November 2025, a 13.2 per cent decrease compared to the 1,089 sales in November 2024. The benchmark price of an apartment home is $714,300. This represents a 5.2 per cent decrease from November 2024 and a 0.2 per cent decrease compared to October 2025.
Attached home sales in November 2025 totalled 350, a 22.4 per cent decrease compared to the 451 sales in November 2024. The benchmark price of a townhouse is $1,065,600. This represents a 4.4 per cent decrease from November 2024 and a 0.1 per cent increase compared to October 2025.
* Areas covered by Greater Vancouver REALTORS® include: Bowen Island, Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Greater Vancouver REALTORS® is an association representing more than 15,000 REALTORS® and their companies. The association provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.gvrealtors.ca.
SURREY, BC – Easing prices and abundant inventory weren’t enough to entice buyers to the Fraser Valley market in November, as sales declined in line with seasonal buying patterns.
The Fraser Valley Real Estate Board recorded 943 sales on its Multiple Listing Service® (MLS®) in November, a 16 per cent decrease from October, and 17 per cent below sales from the same month last year.
New listings slowed again in November, down 26 per cent month-over-month and seven per cent year-over-year, to 2,210. Overall inventory remains well above seasonal norms for the Fraser Valley, with 9,201 active listings, down nine per cent from October and 47 per cent above the 10-year seasonal average.
SURREY, BC – Fraser Valley home sales fell more than 20 per cent in August, but buyers who did get into the market were able to take advantage of favourable conditions including abundant choice, softer prices and more time to make decisions.
The Fraser Valley Real Estate Board recorded 931 sales on its Multiple Listing Service® (MLS®) in August, down 22 per cent from July and down 13 per cent year-over-year. August sales were 36 per cent below the 10-year average.
The Fraser Valley buyer’s market remains strong with inventory levels holding relatively stable, down just two per cent to 10,445 active listings. Newly listed homes declined 19 per cent month-over-month to 2,793; up half a per cent year-over-year. The overall sales-to-active listings ratio for August dropped to nine per cent, down two per cent from July. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.
Easing prices brought more Metro Vancouver* homebuyers off the sidelines in August, with home sales on the MLS® up nearly three per cent from August last year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,959 in August 2025, a 2.9 per cent increase from the 1,904 sales recorded in August 2024. This was 19.2 per cent below the 10-year seasonal average (2,424).
SURREY, BC – Market conditions are ideal for Fraser Valley home buyers this summer, but the persistent gap between buyers’ and sellers’ price expectations continues to suppress sales. The Fraser Valley Real Estate Board recorded 1,190 sales on its Multiple Listing Service® (MLS®) in July, down half a per cent from June and down three per cent year over-year. July sales were 23 per cent below the 10-year average.
The supply of homes for sale dipped slightly in July, down two per cent from June to 10,650, nearly 50 per cent above the 10-year seasonal average. New listings declined five per cent over June to 3,453. The Fraser Valley remains in a buyer’s market with an overall sales-to-active listings ratio of 11 per cent; the market is considered balanced when the ratio is between 12 per cent and 20 per cent.
Home sales registered on the MLS® across Metro Vancouver* in July extended the early signs of recovery that emerged in June, now down just two per cent from July of last year.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,286 in July 2025, a two per cent decrease from the 2,333 sales recorded in July 2024. This was 13.9 per cent below the 10-year seasonal average (2,656).
“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend. Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the US.”
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After a turbulent first half of the year, home sales registered on the MLS® across Metro Vancouver* are showing emerging signs of a recovery, down ten per cent year-over-year – halving the decline seen last month.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in June 2025, a 9.8 per cent decrease from the 2,418 sales recorded in June 2024. This was 25.8 per cent below the 10-year seasonal average (2,940).
