Joanne Taylor
Awarded
Rotarian of the Year
Rotary Club of South Surrey
2013
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FVRB News Release June 3, 2025
May Brings Much Needed Lift to Fraser Valley Housing Market
SURREY, BC — On the heels of a quiet April, Fraser Valley home sales saw a modest but encouraging uptick in May — a sign that buyer confidence may slowly be returning to the market.
The Fraser Valley Real Estate Board recorded 1,183 sales on its Multiple Listing Service® (MLS®) in May, up 13 per cent from April. Despite the increase, sales were 22 per cent below May 2024 levels and 36 per cent below the 10-year seasonal average.
Overall inventory continues to build, with active listings up six per cent in May, to 10,626, an increase of 34 per cent year-over-year and 54 per cent above the 10-year seasonal average. New listings increased seven per cent from April to May to 4,007.
“High inventory in the Fraser Valley is giving buyers more choice, but it also means sellers are facing more competition,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “We’re seeing that homes priced appropriately for today’s market are selling, while sellers who aren’t in a rush are choosing to hold off or stand firm on pricing and wait for more favourable conditions.”
The overall sales-to-active listings ratio of 11 per cent indicates the Fraser Valley remains in a buyer’s market. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.
Across the Fraser Valley in May, the average number of days to sell a single-family detached home was 34, while for a condo it was 33 days. Townhomes took, on average, 27 days to sell.
“Many buyers are taking a wait and see approach, hoping for the economy to improve,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Job security, inflation, and the cost of living continue to weigh on the minds of many families. As soon as greater confidence begins to return, we could start to see more activity in the market.”
The composite Benchmark price in the Fraser Valley decreased one per cent in May, to $963,200.
Full package: https://www.fvreb.bc.ca/statistics/Package202505.pdf
MLS BENCHMARK PRICE ACTIVITY for MAY 2025 for *WHITE ROCK/SOUTH SURREY*
• Single Family Detached: At $1,889,900 the Benchmark price for a single-family detached home in the South Surrey/White Rock area decreased 2.9% from $1,946,600 from May last year and decreased 1.1%% from last month in April ($1,910,800).
• Townhomes: At $956,000 the Benchmark price for a townhome decreased 2.2% from May last year ($977,100) and increased 0.2% from last month in April ($954,400)
• Apartments: At $606,900 the Benchmark price for apartments/condos decreased 5.8% from $644,100 compared to May last year, and decreased 2% from last month in April ($619,400).
SALES FOR MAY 2025 (for *WHITE ROCK & SOUTH SURREY*)
Detached: 52 sales, same as last month and down 32.5% from May last year (77)
Townhouses: 54 sales, up 28.6% from 42 last month and down11.5% from 61 last year in May.
Apartments: 63 sales, down 12.5% from 72 last month and down 17.1% from May last year (76).
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778-227-1443
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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