A Quarter of Accelerating Decline

The third quarter of 2025 deepened the buyer's market in the Fraser Valley. Sales activity slowed through the summer months, prices continued their decline for a sixth consecutive month, and inventory remained stubbornly elevated at decade-high levels. For buyers, Q3 delivered the best negotiating conditions since pre-pandemic times. For sellers, the quarter demanded patience and realistic pricing.

The Quarter at a Glance

Q3 2025 marked a continuation and acceleration of trends that emerged in Q2. While the second quarter saw the market cross the psychological 10,000-listing threshold, Q3 held inventory at those elevated levels while prices softened each month—the fourth, fifth, and sixth consecutive monthly declines.

Month-by-Month Breakdown

"Current market conditions are allowing buyers the opportunity to make bold offers, especially for properties that have been on the market for a while and where sellers may be more motivated."

— Tore Jacobsen, Chair, Fraser Valley Real Estate Board (August 2025)

Q3 Quarterly Trend Table

Source: Fraser Valley Real Estate Board MLS® HPI, July-September 2025.

Property Type Performance in Q3

Townhomes experienced the steepest quarterly decline (-2.4%), though they remain the most resilient on an annual basis (-4.7% YoY). Detached homes fell 2.1% through Q3, while apartments showed the smallest quarterly drop (-1.7%) but the deepest year-over-year decline (-6.3%), reflecting investor caution and rental market dynamics.

City-by-City Market Snapshot (End of Q3)

Langley: The Stability Leader

Langley closed Q3 as the healthiest market in the Fraser Valley with a 13% sales ratio—at the threshold of balanced territory. While prices declined through the quarter, Langley's year-over-year drop of just 3.5% represents the smallest decline among major Fraser Valley cities.

Browse Current Langley Listings

Mission: The Only Market with Annual Gains

Mission stands apart as the sole Fraser Valley market showing year-over-year price appreciation (+1.2%). The 11% sales ratio signals balanced conditions, and remarkably, homes sold at 100% of list price in September—a rarity in today's market. With a $995,000 median for detached homes, Mission offers approximately 30% savings compared to Langley.

Browse Current Mission Listings

Surrey: Deep Buyer's Market Continues

Surrey maintained the region's deepest buyer's market conditions through Q3 with a 7% sales ratio. Homes sell 3% below asking price on average, and the inventory of 1,188 detached listings provides abundant choice. The median sale price of $1,375,000 reflects the segment where most transactions occur.

Browse Current Surrey Listings

Abbotsford: Most Affordable Entry Point

Abbotsford offers the most accessible detached home prices in the Fraser Valley with a median of $1,050,000—roughly $380,000 less than Langley. The 10% sales ratio keeps conditions in buyer's market territory, and attached homes at 13% ratio show balanced conditions with a $495,200 median.

Browse Current Abbotsford Listings

White Rock / South Surrey: Premium Market Correction

The premium South Surrey/White Rock market experienced the steepest year-over-year decline at -8.1%. With a 6% sales ratio and homes selling 4% below list, buyers in this segment have significant leverage. The $1,777,900 benchmark remains well above most household budgets, but for qualified buyers, the correction represents meaningful savings.

Browse White Rock Listings Browse South Surrey Listings

Key Takeaways for Buyers

• Make confident offers: Properties are selling 2-4% below the asking price across most markets. Focus on listings 30+ days on market for maximum negotiating leverage.
• Consider Mission: The only market with a positive YoY price change (+1.2%), homes selling at 100% of list price, and balanced conditions—suggesting relative stability and value.
• Watch Langley: At 13% sales ratio and heading into Q4, Langley may tighten first if buyer sentiment shifts. Walnut Grove already shows seller-friendly conditions (33% ratio).
• Entry-level opportunities: North Surrey condos ($443,800) and Abbotsford apartments ($415,900) offer the most accessible entry points for first-time buyers who qualify.

Key Takeaways for Sellers

• Price to current market reality: The 2-4% below-list norm reflects buyer expectations. Aspirational pricing leads to extended days on market and eventual reductions.
• Langley and Mission sellers: If selling in these markets, you have an advantage with balanced conditions. Price competitively, and you'll find buyers.
• Presentation matters more than ever: In a market with abundant inventory, staging, repairs, and professional photography differentiate your listing from the competition.
• Be patient: Q3 saw slower summer sales across all property types. Q4 may bring renewed activity as prices continue to attract buyers back to the market.

Q4 Outlook

"The economic uncertainty that has shaped the housing market for much of 2025 now seems to have been factored into market dynamics, as evidenced by a sustained softening of prices. Some buyers who had been holding off are starting to recognize that waiting for greater certainty could mean missing opportunities."

— Baldev Gill, CEO, Fraser Valley Real Estate Board (August 2025)

Looking ahead to Q4 2025, several factors will shape market dynamics:

• Price trajectory: Six months of decline suggest the market is finding equilibrium. October data will reveal whether September's modest sales uptick (+3% MoM) signals renewed buyer confidence.
• Inventory behaviour: Seasonal patterns typically see inventory decline through Q4. Whether this alleviates pressure or sellers choose to wait until spring will influence market balance.
• Economic factors: Tariff resolution, Bank of Canada rate decisions, and employment stability will continue influencing buyer confidence and qualification ability.
• Seasonal patterns: Historically, Q4 brings lower sales volumes but also reduced inventory. The net effect on sales ratios remains to be seen.