SURREY, BC – Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the combination of stable prices and abundant selection presents potential opportunities for buyers to get back into the market.

The sales-to-active listings ratio appears to bear this out. At 11 per cent, the overall ratio is signaling a buyer’s market, with detached homes firmly in buyer’s market territory. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

It took longer to sell homes in January compared to December. Across the Fraser Valley, the average number of days to sell a single-family detached home was 52, while for a condo it was 42. Townhomes took, on average, 38 days to sell.

“The market appears to be in a holding pattern at the moment,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war, which could lead to even more rate cuts by the Bank of Canada. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives.”

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark price down 0.03 per cent to $964,800.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,482,400, the Benchmark price for an FVREB single-family detached home increased 0.1 per cent compared to December 2024 and increased 0.6 per cent compared to January 2024.

• Townhomes: At $826,000, the Benchmark price for an FVREB townhome decreased 0.2 per cent compared to December 2024 and decreased 0.2 per cent compared to January 2024.

• Apartments: At $534,600, the Benchmark price for an FVREB apartment/condo increased 0.1 per cent compared to December 2024 and decreased 1.2 per cent compared to January 2024.
  

VANCOUVER, BC – February 4, 2025 – Homes newly listed on the MLS® in Metro Vancouver* rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749).

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new listing activity, sales continue to outpace last years’ figures, signaling some buyer appetite remains after the upswing that finished off 2024.”

There were 5,566 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2025. This represents a 46.9 per cent increase compared to the 3,788 properties listed in January 2024. This was 31.1 per cent above the 10-year seasonal average (4,247).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 11,494, a 33.1 per cent increase compared to January 2024 (8,633). This is 33.2 per cent above the 10-year seasonal average (8,632).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2025 is 14.1 per cent. By property type, the ratio is 9.2 per cent for detached homes, 18.5 per cent for attached, and 16.5 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.

“With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions,” Lis said. “Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead, if any.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,000. This represents a 0.5 per cent increase over January 2024 and a 0.1 per cent increase compared to December 2024.

Sales of detached homes in January 2025 reached 380, a 0.3 per cent increase from the 379 detached sales recorded in January 2024. The benchmark price for a detached home is $2,005,400. This represents a 3.1 per cent increase from January 2024 and a 0.4 per cent increase compared to December 2024.

Sales of apartment homes reached 846 in January 2025, a 13.4 per cent increase compared to the 746 sales in January 2024. The benchmark price of an apartment home is $748,100. This represents a 1.7 per cent decrease from January 2024 and a 0.2 per cent decrease compared to December 2024

Attached home sales in January 2025 totalled 321, a 12.6 per cent increase compared to the 285 sales in January 2024. The benchmark price of a townhouse is $1,105,600. This represents a 2.7 per cent increase from January 2024 and a 0.8 per cent decrease compared to December 2024.

Editor’s Note:

*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.

For more information please contact:
Mark Moldowan
Manager, Communication and Editorial Greater Vancouver REALTORS®
604.730.3153
mmoldowan@gvrealtors.ca