The Fraser Valley real estate market continues to offer buyers plenty of choice, but activity remains subdued. In April, the Fraser Valley Real Estate Board recorded 1,043 sales on the MLS®—a slight 0.7% increase from March, but a 29.1% drop compared to April 2024.
Inventory is the story this spring: there are now over 10,000 active listings across the region, the highest level in more than a decade. This surge in supply is giving buyers more breathing room, with plenty of time to shop around and negotiate. Despite this, the sales-to-active listings ratio sits at 10%, marking a buyer’s market (balanced conditions typically fall between 12% and 20%).
The overall Benchmark Price across all property types in the Fraser Valley dipped to $972,700, down 0.2% from March and 3.5% year-over-year. Here’s a quick breakdown:
• Detached homes: $1,506,600 (▲0.1% MoM | ▼1.3% YoY)
• Townhomes: $833,100 (▼0.1% MoM | ▼2.4% YoY)
• Apartments: $537,800 (▼0.6% MoM | ▼3.2% YoY)
Spotlight on Mission
In Mission, the numbers reflect a similar trend: more listings, slower sales, and stable pricing.
Only 26 homes sold in April, down 38.1% from the same month last year, and down 16% from March. Detached homes made up all 26 of those sales, while townhomes and condos saw minimal movement.
Detached Homes:
• Benchmark Price: $1,062,100 (▼0.2% MoM | ▼0.2% YoY)
• Average Price: $990,888 (▼7.9% MoM | ▼12.3% YoY)
• Sales: 26
• Active Listings: 268 (▲39.6% YoY)
Townhomes:
• Benchmark Price: $662,200 (▼0.9% MoM | ▼1.0% YoY)
• Sales: 9
• Active Listings: 42
Apartments:
• Benchmark Price: $448,300 (▼1.6% MoM | ▼1.3% YoY)
• Sales: 4
• Active Listings: 49 (▲32.4% YoY)
Buyers in Mission now have more selection and time to make decisions, with many homes sitting longer and price growth remaining flat. For sellers, pricing right is critical, especially in a market where competition is growing.
Curious how this market shift affects your home’s value or your buying power? Reach out anytime—I’m happy to walk you through the numbers. 604 302 0177