The Fraser Valley housing market continued to favour buyers in September, with more sellers returning to the market while sales remained relatively steady. Elevated inventory continues to provide buyers with plenty of choice and negotiating power as we move further into the fall market.

The Fraser Valley Real Estate Board recorded 922 home sales in September, representing a 2 per cent decrease from August and approximately 4 per cent fewer sales compared to September of last year.

After a quieter summer, new listings picked up considerably. There were 2,818 new listings in September, representing a 19 per cent increase from August, although new listings remained 18 per cent below the same period last year.

Overall inventory remained elevated across the region, with 9,763 active listings at the end of September. While virtually unchanged from August, inventory remains approximately 31 per cent above the 10-year seasonal average.

The sales-to-active listings ratio sits at approximately 9 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.

The composite benchmark price for a typical Fraser Valley home is now $861,300, representing a 1 per cent decrease from August and approximately 7.2 per cent below September of last year.

Benchmark prices by property type:

• • Single-family detached homes: $1,300,000

• • Townhomes: $745,300

• • Apartments/condos: $461,800

Compared to September of last year, benchmark prices are down 8.8 per cent for detached homes, 6.2 per cent for townhomes, and 9.3 per cent for apartments.

For buyers, elevated inventory provides more selection and negotiating room, with more time to evaluate options.

For sellers, strategic pricing and strong property presentation remain key to attracting serious buyers.

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.

Jayson Sidhu | RE/MAX Performance Realty

604-805-5897