Joanne Taylor
Awarded
Rotarian of the Year
Rotary Club of South Surrey
2013
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FVRB News Release May 2, 2025
Abundant Listings & Stable Prices Not Enough to Drive April Sales in the Fraser Valley
SURREY, BC — Home buyers in the Fraser Valley are enjoying a selection of homes for sale not seen in more than a decade. The growing inventory of more than 10,000 active listings means, in many cases, that buyers have time, selection and price negotiation on their side.
“There’s definitely a surge of activity in the market — buyers are out viewing homes and attending open houses,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “What’s noticeable in the current market is the level of choice. A buyer might see a home they like and then have an opportunity to tour five or ten more just like it, without feeling rushed to make an immediate offer.”
However, despite the abundance of listings and potential buying opportunities, spring sales remain sluggish. The Fraser Valley Real Estate Board recorded 1,043 sales on its Multiple Listing Service® (MLS®) in April, up one per cent from March and down 29 per cent year over year. New listings declined slightly in April, down one per cent from March.
The overall sales-to-active listings ratio indicates a buyer’s market in the Fraser Valley, with a ratio of 10 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.
Across the Fraser Valley in April, the average number of days to sell a single-family detached home was 32, while for both townhomes and condos it was slightly lower at 29 days.
“Tariffs and economic uncertainty continue to weigh heavily on the minds of home buyers in the Fraser Valley,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “However, with the federal election now behind us and a new administration in place, there’s cautious optimism that a fresh approach to strengthening the economy could be on the way, which is welcome news for the real estate sector.”
The composite Benchmark price in the Fraser Valley decreased 0.2 per cent in April, to $972,700.
Full package: https://www.fvreb.bc.ca/statistics/Package202504.pdf
MLS BENCHMARK PRICE ACTIVITY for APRIL 2025 for *WHITE ROCK/SOUTH SURREY*
• Single Family Detached: At $1,910,800 the Benchmark price for a single-family detached home in the South Surrey/White Rock area decreased 2.6% from $1,962,200 from April last year and increased 0.3% from last month in March ($1,904,300).
• Townhomes: At $954,400 the Benchmark price for a townhome decreased 2.8% from April last year ($981,700) and increased 0.8% from last month in March ($946,400)
• Apartments: At $619,400 the Benchmark price for apartments/condos decreased 2.9% from $637,700 compared to April last year, and decreased 1.1% from last month in March ($626,000).
SALES FOR APRIL 2025 (for *WHITE ROCK & SOUTH SURREY*)
Detached: 52 sales, up 26.8% from 41 last month and down 10.3% from April last year (58)
Townhouses: 42 sales, down 20.8% from 53 last month and down 35.4% from 65 last year in April.
Apartments: 72 sales, up 35.8% from 53 last month and down 19.1% from April last year (89).
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The Importance of Market Data
One of the most important marketing tools Joanne uses in pricing and marketing a property is market statistics. This information includes comparisons between ‘listed’ properties (properties currently for sale) and ‘sold’ properties (properties that sold within a one-month period).
These comparisons are generated at the end of every month by the Multiple Listing Service® and are not available to the public. These reports help to determine the Current Market Conditions affecting your specific neighbourhood.
The “Sales-To-Actives Ratio” tells the percentage of inventory that is selling in a given month (sales for the month divided by the Active Listings = the per centage of homes that are selling). This provides a better idea of the sense of balance between total supply and demand.
To determine the type of Market, if 11 to 20 per cent of inventory is selling (with give & take), the market is balanced. A Seller's Market is when more than 20 per cent is selling, and when it's less than 11 per cent the reverse is the case and buyers have the upper hand.
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