SURREY, BC – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average — making for the slowest start to the spring market in more than 15 years.
The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still 26 per cent below sales recorded this time last year.
Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22 per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per cent above March 2024 and 59 per cent above the 10-year seasonal average.
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.
Across the Fraser Valley in March, the average number of days to sell a single-family detached home was 31, while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.
The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4 per cent to $974,400.
MLS® HPI Benchmark Price Activity
Single Family Detached: At $1,505,500, the Benchmark price for an FVREB single-family detached home increased 0.4 per cent compared to February 2025 and decreased 1.2 per cent compared to March 2024.
Townhomes: At $833,700 the Benchmark price for an FVREB townhome increased 0.5 per cent compared to February 2025 and decreased 1.7 per cent compared to March 2024.
Apartments: At $540,900 the Benchmark price for an FVREB apartment/condo increased 0.5 per cent compared to February 2025 and decreased 2.6 per cent compared to March 2024.