FRASER VALLEY

Buyer hesitancy persists amid purchase incentives; lowest prices in years. 

Home buyer hesitancy persisted into the new year as the Fraser Valley residential market saw January sales decline 33% from December, registering 619 transactions for the first month of the year. The sales slump was an extension of the slide seen in last two months of 2025, but with notable upside considerations for prospective home buyers. The slack in buyer demand did not induce prospective sellers to hold back their listings, which jumped by 128% in January, reaching a total of 3,078 new listings compared with December’s 1,350. The resulting total inventory at the end of the month was an impressive 7,711 available homes, 11% above December’s count and 54% above the 10-year seasonal average. Home purchase financing is also available at attractive rates offering some relief to price pressures impacting consumers in daily living costs. With the Bank of Canada’s policy rate still at 2.25%, held steady last month since set in October 2025, current commercial mortgage rates can be found as low as 3.84% for a 5-year fixed rate mortgage and around 3.35% for a 5-year variable rate mortgage. Home prices in the Fraser Valley are also beckoning buyers having dropped to their lowest level in almost six years. With the benchmark price now below $900,000, Fraser Valley homes are attractive option when compared to a comparable property in Metro Vancouver where the benchmark price is over the $1-million mark. At the end of January, the combined benchmark price for a residential property in the Fraser Valley was $897,200, a 1.0% decrease from the preceding month.  

Please review my monthly selection below of comparative benchmark prices for homes in different areas of the Fraser Valley at the end of January. For each property type I have selected a total of six benchmark prices, three on each side of the overall benchmark average. The month-over-month price changes indicate the typical fluctuations arising from the relative market activity for the period. The range of each benchmark average can be quite large as prices for comparable propeerties are generally determined by the area of the property. However, it is important to remember that benchmarks are averages, so please call me if you would like to explore specific home prices in a particular area. I can provide you with the most up-to-date information on the latest listings. And if you would like to list your home for sale, I can develop a Customized Market Analysis for your property and advise you on the optimal asking price in the current market conditions. During the month of January, the average number of days for single family detached home to sell was 55 days; townhouses were on the market for an average of 50 days; and condominiums sold on average within 53 days. Please feel free to call me for any additional information or questions you may have about your real estate needs. I love to help my clients anyway I can.

     

 

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of January was $1,373,100, a decrease of 1.1% from the preceding month. The range of the average extended from $1,728,000 in South Surrey/White Rock to and $948,500 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,393,800. a decrease of 0.7% from the preceding month; Langley at $1,505,900, a decrease of 0.6% from the preceding month; and South Surrey/White Rock at $1,728,000, a decrease of 0.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Cloverdale at $1,356,700, a decrease of 2.1% from the preceding month; North Surrey at $1,334,600, a decrease of 1.7% from the preceding month; and Abbotsford at $1,171,700, a decrease of 2.3% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of January was $773,100, a decrease of 1.1% from the preceding month. The range of this average extended from $861,000 in South Surrey/White Rock to $632,600 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $778,000, an increase of 0.6% from the preceding month; Langley at $814,500, a decrease of 0.9% from the preceding month; and South Surrey/White Rock at $861,000, a decrease of 2.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $767,300, a decrease of 0.8% from the preceding month; North Surrey at $704,300, a decrease of 0.4% from the preceding month; and Mission at $665,400, no change from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of January was $488,600, a decrease of 0.6% from the preceding month. The range of the average was from $565,300 in South Surrey/White Rock to $397,500 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $498,700, a decrease of 0.2% from the preceding month; North Delta at $517,700, a decrease of 0.6% from the preceding month; and Cloverdale at $543,100, an increase of 1.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $429,300, a decrease of 0.5% from the preceding month; Mission at $437,00, a decrease of 1.7% from the preceding month; and Abbotsford at $397,500, a decrease of 1.6% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.