Despite a surge in available homes and softer prices, the Fraser Valley real estate market experienced a slowdown in 2025, with a notable decline in sales compared to the previous year. The Fraser Valley Real Estate Board reported 12,224 sales, marking a 16% decrease from 2024 and 33% below the 10-year average. The majority of transactions occurred in Surrey (48%), Langley (24%), and Abbotsford (16%).
Board Chair Tore Jacobsen expressed surprise at the sluggish market recovery, especially in the face of increased housing inventory, particularly in the condo segment. Sales of apartments in December 2025 were down 18.5% compared to the previous year but showed a modest 7% increase from November 2025.
Jacobsen highlighted the challenges in the condo market, attributing the difficulty in gaining momentum to the combination of high inventory levels and functional aspects. Despite these obstacles, real estate professionals have remained resilient, emphasizing the importance of effective communication with clients to navigate the nuances of the market.
In 2025, the Fraser Valley saw a rise in new listings, reaching 37,963, offering buyers a wider selection. However, economic uncertainties stemming from escalating costs and U.S. tariff pressures contributed to an overall subdued market atmosphere.
Looking ahead, Jacobsen expressed cautious optimism, suggesting that realtors believe the market may have reached its lowest point and anticipate an eventual uptick in sales. While predicting an increase in sales for the coming year, the timing of this potential rebound remains uncertain.
Encouraging first-time buyers to enter the market, Jacobsen pointed out the ongoing decline in prices in the Fraser Valley, which decreased by 0.7% for the ninth consecutive month compared to November.
Meanwhile, the Greater Vancouver Realtors also observed a decrease in home sales in December, marking the lowest number of yearly sales in over two decades, with only 1,537 homes sold, a 12.9% drop from the previous year.