FVREB SURREY, BC – Slower seasonal sales helped build inventory to its highest level since September 2019 in the Fraser Valley in May, creating more balanced market conditions for home buyers and sellers. The increase in supply over the past several months has further contributed to a softening of price growth, which is good news for buyers. The average number of days townhomes and single-family detached homes are spending on the market increased slightly in May. Detached homes are spending 25 days on the market, up from 23 in April. Townhomes are spending 20 days on the market, up one day from April, and condos remain steady at 23 days on the market. Benchmark prices in the Fraser Valley remained flat in May, with the composite Benchmark price down 0.2 percent from April and down 0.8 per cent from May 2023. MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,530,200, the Benchmark price for an FVREB single-family detached home increased 0.2 per cent compared to April 2024 and...

Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to pick up heading into Spring. There are signs of optimism in the market right now with more steady traffic at open houses and the average number of days on the market falling however buyers are still exercising some caution. The highlights include a 32% increase in sales over January and new listings are up 18% over January.  The MLS HPI Benchmark Price Activity is up slightly across all property types. The overall sales to active ratio is 22% which is edging into a sellers market. When this ratio is between 12% - 20% the market is considered balanced. Click [here] to read the complete Fraser Valley Real Estate Board Stats Package. For specifics about the market in your neighbourhood, chat with a professional real estate agent.