Posted on
February 21, 2025
by
David Nash
Market Overview
In January 2025, the Fraser Valley Real Estate Board (FVREB) reported a significant influx of new listings, with 3,432 properties added to the Multiple Listing Service® (MLS®). This surge represents a 167% increase from December, elevating active listings to 7,251—the highest in a decade and 54% above the 10-year average.fvreb.bc.ca
Despite the increased inventory, sales have moderated. The FVREB processed 818 sales in January, an 18% decrease from December. This dynamic has shifted the sales-to-active listings ratio to 11%, indicating a buyer's market.
fvreb.bc.ca
Abbotsford
Abbotsford mirrored the regional trend with a substantial rise in new listings. January saw 178 new detached home listings, 82 townhouses, and 143 apartments. However, sales remained stable year-over-year for detached homes, while townhouse sales decreased by 56%, and apartment sales saw a slight 2% decline. Benchmark prices experienced modest changes: detached homes increased by 2% to $1,207,400; townhouses rose by 5% to $685,500; and apartments decreased by over 1% to $440,900.
Chilliwack
In Chilliwack, residential property values experienced a modest 2% increase in 2025. The typical single-family home was assessed at $907,000, up from $890,000 the previous year. This aligns with the broader trend in the Lower Mainland, where most homeowners saw changes in the range of -5% to +5%
Mission
Mission's real estate market has shown resilience. While specific January 2025 data is limited, historical trends indicate that Mission has experienced significant growth over the past decade, with combined residential prices increasing by 137.9%, the highest in the Fraser Valley.
Spring Market Outlook
The substantial increase in inventory across the Fraser Valley suggests potential opportunities for buyers as we approach the spring market. Stable prices combined with a higher selection of properties may provide favorable conditions for those looking to enter the market. However, economic uncertainties, including potential trade issues and interest rate fluctuations, could influence buyer confidence and market dynamics. It's advisable for both buyers and sellers to consult with local real estate professionals to navigate this evolving landscape effectively.
In summary, the Fraser Valley real estate market is currently characterized by increased inventory and stable pricing, creating a buyer-friendly environment. As the spring season approaches, staying informed and working closely with real estate experts will be crucial for making strategic decisions in this dynamic market.
