Fraser Valley home sales drop 16 per cent in 2025: board

The Fraser Valley Real Estate Board found many home buyers stayed on the sidelines in 2025 despite a decade-high inventory and softer prices.

The board recorded 12,224 sales in 2025, a decline of 16 per cent from 2024 and 33 per cent below the 10-year average.

A majority of those sales were made in Surrey (48 per cent), Langley (24 per cent) and Abbotsford (16 per cent).

Chair Tore Jacobsen says they were caught off guard by the slowdown, but more so by a challenging recovery of the housing market.

He says the Fraser Valley has been lagging behind in sales and has seen an increased inventory, including condos.

“In December in the Fraser Valley…our sales of apartments were down about 18.5 per cent from December of (2024) and just up 7 per cent from November 2025,” said Jacobsen.

Jacobsen says it’s harder to get momentum going in the condo market due to a combination of inventory and function.

He adds that while realtors have been resilient, they have to put in the effort when working with buyers and sellers.

“It’s really been a year of engagement and communication and advising for clients to help understand the nuances of this market.”

The board also found buyers had more homes to choose from in 2025, with new listings climbing to 37,963.

Despite the large supply, economic uncertainty from rising costs and tariff pressure from the U.S. has led to a quieter market overall.

Jacobsen says realtors feel they have “hit the bottom” of the slump, and there’s a general sentiment that sales will improve.

First-time home buyers encouraged to enter market

“The forecasts tend to be that sales will increase next year. The crystal ball answer that no one quite knows, though, is when that momentum is going to happen?”

Any first-time home buyers are encouraged by Jacobsen to get into the housing market as prices in the Fraser Valley continue to slide.

Prices were down for the ninth straight month by 0.7% compared to November.

At the same time, the Greater Vancouver Realtors also noted a decline in home sales in December, indeed the lowest yearly number of sales in more than two decades.

Only 1,537 homes were sold in December, a 12.9 per cent drop on a year-over-year basis.