The Fraser Valley housing market continued to favour buyers in August, with sales slowing from July while overall inventory remained well above seasonal norms. Despite the month-over-month slowdown, sales finished slightly ahead of the same period last year.

The Fraser Valley Real Estate Board recorded 941 home sales in August, representing a 14 per cent decrease from July but a 1 per cent increase compared to August of last year. The year-over-year increase marks only the second annual gain since the beginning of 2025, providing a modest positive sign despite overall demand remaining below typical levels.

Inventory levels remain elevated across the region. There were 2,373 new listings in August, down approximately 16 per cent from July. Overall, there were 9,787 active listings across the Fraser Valley, approximately 33 per cent above the 10-year seasonal average.

The increased supply continues to provide buyers with more choice and greater negotiating power compared to the highly competitive markets seen in previous years.

The sales-to-active listings ratio sits at approximately 10 per cent, keeping the Fraser Valley in buyer’s market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.

The composite benchmark price for a typical home in the Fraser Valley is now $869,900, representing a 0.9 per cent decrease from July and approximately 7 per cent below August of last year.

Benchmark prices by property type currently sit at:

• Single-family detached homes: $1,319,600
• Townhomes: $750,600
• Apartments/condos: $466,100

Compared to August of last year, benchmark prices are down 8.4 per cent for detached homes, 7.1 per cent for townhomes, and 8.9 per cent for apartments.

As we head toward the fall market, elevated inventory combined with lower prices may present opportunities for buyers who have been waiting for more selection and negotiating room. Buyers generally have more time to evaluate their options and negotiate terms without the same pressure experienced during more competitive markets.

For sellers, homes are still selling, but with buyers having considerably more choice, strategic pricing and strong property presentation remain key to attracting serious buyers.

It is also important to remember that these statistics represent the Fraser Valley as a whole. Market conditions can vary considerably depending on the city, neighbourhood, property type and price range.

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.