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Fraser Valley Market Shows Early Spring Momentum in February
The Fraser Valley housing market showed early signs of renewed activity in February, with sales increasing compared to January while overall conditions continue to favour buyers.
The Fraser Valley Real Estate Board recorded 843 home sales in February, representing a 36 per cent increase from January. While this improvement signals growing momentum as the spring market approaches, sales remain 38 per cent below the ten-year seasonal average, suggesting many buyers are still approaching the market cautiously.
Inventory levels remain elevated across the region. At the end of February there were 8,344 active listings, which is 51 per cent higher than the ten-year seasonal average. The increased supply of homes continues to give buyers more options and more time to make purchasing decisions compared to the highly competitive markets seen in recent years.
The sales-to-active listings ratio sits at approximately 10 per cent, keeping the Fraser Valley firmly in buyer’s market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.
Home prices have remained relatively stable month-to-month. The benchmark price for a typical home in the Fraser Valley is now $895,100, representing a slight 0.2 per cent decrease from January and an 8 per cent decline compared to February of last year.
Benchmark prices by property type currently sit at:
Single-family detached homes: $1,370,900
Townhomes: $770,700
Apartments/condos: $488,300
Homes are also taking slightly longer to sell. In February, the average time on market was 47 days for detached homes, 39 days for townhomes, and 45 days for condominiums.
As the spring market approaches, improving activity levels combined with elevated inventory may present opportunities for buyers who have been waiting for more choice and negotiating room.
For sellers, strategic pricing and strong property presentation remain key to attracting serious buyers in today’s competitive environment.
If you are considering buying or selling in the Fraser Valley and would like a personalized market update for your neighbourhood, feel free to reach out.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.