Surrey and Fraser Valley recorded slowest home sales in 25 years

The Fraser Valley Real Estate Board reported 12,224 home sales in 2025, the fewest since 2000, while new listings rose to 37,963 and benchmark prices eased to about $905,900.

Home sales in the Fraser Valley declined markedly in 2025, the Fraser Valley Real Estate Board reported. Total sales for the year were 12,224, the fewest since 2000 and the first full-year buyer's market in 25 years. At the same time, new listings climbed to 37,963 units, the highest level in more than 40 years. FVREB leaders said affordability pressures and broader economic uncertainty helped restrain buyer activity. Key figures: - Total 2025 sales: 12,224, down 16% from 2024 and 33% below the 10-year average. - New listings in 2025: 37,963, the highest seen in more than 40 years; active listings ended the year at 6,965. - Fraser Valley composite benchmark price at year-end: $905,900, down 6% year-over-year and 24% below the March 2022 peak. - Surrey accounted for 48% of transactions; Surrey single-family benchmark price was reported at $1.484 million, down 7.2% year-over-year. Summary: These figures indicate a market with elevated supply, softer prices, and subdued sales across the region. Undetermined at this time.