Fraser Valley Real Estate: Q1 2025 Market Summary

by Katie Van Nes

Inventory Surges, Sales Slow

The first quarter of 2025 delivered a paradox: inventory surged to decade-high levels while sales recorded their slowest spring start in over 15 years. Tariff uncertainty and economic caution defined the quarter, creating conditions that favour patient, well-prepared buyers.

Q1 2025 Fraser Valley Market Summary

2,774 Total Properties Sold

9,219 Active Listings (End of Q1)

$974,400 Composite Benchmark

11% Avg. Sales Ratio (Buyer's Market)

Q1 2025 at a Glance

The Fraser Valley real estate market entered 2025 in a holding pattern that persisted throughout the quarter. While inventory climbed steadily—reaching levels not seen in over a decade—sales activity remained suppressed as buyers and sellers navigated mounting economic uncertainty.

Metric	January	February	March	Q1 Change
Properties Sold	818	920	1,036	▲27%
Active Listings	7,251	8,070	9,219	▲27%
Composite Benchmark	$965,000	$970,300	$974,400	▲1.0%
Sales Ratio	11%	11%	11%	—
New Listings	3,432	3,121	3,800	▲11%

Source: Fraser Valley Real Estate Board, Q1 2025 Monthly Statistics Packages. Trend arrows: green = buyer-favourable, red = seller challenge.

The Quarter That Wasn't: Tariffs Stall Spring Market

March typically marks the beginning of the Fraser Valley's busiest real estate season. Instead, Q1 2025 became the slowest start to a spring market in more than 15 years. The primary culprit: economic uncertainty driven by U.S. tariff threats that kept buyers cautious and sellers reluctant to adjust expectations.

"If not for the economic uncertainty driven largely by U.S. tariffs, we'd likely be seeing a typical strong spring market in the Fraser Valley. Instead, we're seeing a disconnect as sellers remain hesitant to lower their prices beyond a certain threshold, while buyers, facing tighter financing conditions, are either unable or unwilling to meet it."
— Tore Jacobsen, Chair, Fraser Valley Real Estate Board (March 2025)

The Inventory Story

Active listings grew from 7,251 in January to 9,219 in March—a 27% increase in just three months. By quarter's end, inventory sat 49% above March 2024 and 59% above the 10-year seasonal average. This buildup gives buyers unprecedented selection, but also signals that many sellers are finding it difficult to attract offers at their asking prices.

Month-by-Month Breakdown

January 2025 Buyer's Market

The year opened with inventory at a 10-year seasonal high (54% above average) as newly listed homes jumped 167% from December. Sales remained slow at 818 properties—down 18% from December—as the market settled into a holding pattern amid trade war uncertainty.

$965,000 Benchmark

7,251 Active Listings

52 days Avg. DOM (Detached)

February 2025 Buyer's Market

Sales ticked up 13% as some buyers capitalized on weakening prices and growing selection. Inventory climbed to 8,070—45% above February 2024. Homes sold faster than January, with detached homes averaging 39 days on market (down from 52).

$970,300 Benchmark (+0.6%)

8,070 Active Listings

39 days Avg. DOM (Detached)

March 2025 Buyer's Market

Despite sales rising another 13% to 1,036 properties, activity remained 26% below March 2024 and nearly 50% below the 10-year average. Inventory hit a decade high at 9,219 listings. Days on market improved significantly for detached homes (31 days), though this reflected motivated sellers pricing more competitively.

$974,400 Benchmark (+0.4%)

9,219 Active Listings (Decade High)

31 days Avg. DOM (Detached)

End of Q1: Market Snapshot by City

City	Market Type	Composite Benchmark	Sales Ratio	Q1 Price Change
Abbotsford	Buyer's Market	$783,200	11%	+0.8%
Langley	Balanced	$1,040,600	16%	+0.6%
Surrey	Buyer's Market	$1,041,700	9%	+0.7%
Mission	Balanced	$942,100	13%	+3.2%
White Rock / South Surrey	Buyer's Market	$1,144,100	7%	+0.8%
Fraser Valley Board	Buyer's Market	$974,400	11%	+1.0%

Source: Fraser Valley Real Estate Board and SnapStats, March 2025.

Key Takeaways from Q1 2025

For Buyers

Buyer's Market Conditions Persist

With inventory at decade highs and sales ratios consistently at 11%, buyers have time, selection, and negotiating leverage. The 27% growth in listings during Q1 means more options across all price points and property types. Patience is rewarded—rushing into a purchase is unnecessary in these conditions.

Langley attached homes stood out in March as the only segment approaching seller's market territory, with a 25% sales ratio. Buyers interested in townhomes in high-demand Langley neighbourhoods may find slightly more competition, though conditions remain far from the frenzied markets of 2021-2022.

For Sellers

Realistic Pricing Is Essential

With active listings 59% above the 10-year average by quarter's end, competition among sellers is intense. Properties that sold in Q1 were typically priced realistically from the start. Sellers who held firm on aspirational prices often found themselves chasing the market with reductions. Working with a REALTOR® to analyze comparable sales and neighbourhood-specific data is critical.

Days on market improved through the quarter—from 52 days for detached homes in January to 31 days in March—but this primarily reflected sellers who priced competitively. Overpriced listings continued to languish.

Market Outlook

What to Watch in Q2 2025

The trajectory of U.S. tariff policy remains the primary wildcard. Resolution of trade uncertainty could release pent-up demand from buyers who have been waiting on the sidelines. Conversely, prolonged uncertainty or actual tariff implementation could further suppress activity. The Bank of Canada's rate decisions will also influence buyer qualification and confidence.

Property Type Performance: Q1 2025

Property Type	Jan Benchmark	Mar Benchmark	Q1 Change	YoY Change
Detached Homes	$1,483,000	$1,505,500	+1.5%	-1.2%
Townhomes	$826,000	$833,700	+0.9%	-1.7%
Apartments	$534,600	$540,900	+1.2%	-2.6%

Source: FVREB MLS® HPI Benchmark Prices, January and March 2025.

While prices edged up modestly during Q1 (reflecting seasonal patterns), year-over-year comparisons show declines across all property types. This pattern—modest monthly gains against annual softening—reflects a market that has stabilized after the 2022-2024 correction but hasn't yet found momentum for sustained growth.

Navigate the Market with Confidence

Whether you're buying, selling, or simply tracking market trends, having accurate, current data is essential. The SearchFraserValley.ca team provides neighbourhood-level insights to inform your real estate decisions.

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Data Sources & Verification: All statistics from the Fraser Valley Real Estate Board (FVREB) January, February, and March 2025 Monthly Statistics Packages. Detailed market intelligence including sales ratios, median prices, and neighbourhood-level analysis from SnapStats Q1 2025 Fraser Valley Reports. Data verified: April 8, 2025

About the Author: Katie Van Nes is a Fraser Valley–based Realtor and market analyst specializing in data-driven real estate guidance. For personalized advice on Fraser Valley real estate, contact the SearchFraserValley.ca team.