March 2025 Spring Update
March 2025 Spring Update: What's Really Happening in the Fraser Valley Market?
Spring is here — but the Fraser Valley real estate market isn’t blooming the way many expected. In fact, March was the slowest start to spring in over 15 years, with home sales still 50% below the 10-year average, despite a seasonal bump from February. So, what’s holding things back?
Economic Uncertainty and Buyer Hesitation
According to the Fraser Valley Real Estate Board, we’re seeing a rare disconnect between buyers and sellers. Many sellers are reluctant to adjust pricing expectations, while buyers are facing tight financing conditions, often choosing to wait it out. Add in the economic uncertainty tied to U.S. tariffs, and it’s no surprise the market’s momentum has stalled.
The result? Just 1,036 sales in March — up from February, but still 26% lower than the same time last year.
Inventory is Climbing
While sales remain sluggish, listings are on the rise. We saw 3,800 new listings in March, a 22% jump from February, pushing total inventory to 9,219 active listings — the highest March level in over a decade.
This increase in supply, paired with slower sales, keeps the sales-to-active listings ratio at 11%, signaling a buyer’s market overall.
What About Prices?
Despite the market cool-down, prices are holding fairly steady:
-
Detached Homes: $1,505,500 benchmark (+0.4% from Feb / -1.2% YoY)
-
Townhomes: $833,700 benchmark (+0.5% from Feb / -1.7% YoY)
-
Condos: $540,900 benchmark (+0.5% from Feb / -2.6% YoY)
Days on market remain moderate — 31 days for detached, 27 for townhomes, and 33 for condos — giving buyers time to make informed decisions.
Market Insight: What It Means for You
Buyers: This is your window to explore options in a less competitive environment. Prices are stable, and inventory is high. If rate cuts materialize later in the year, competition could increase quickly.
Sellers: Pricing strategically is key. While there’s demand, especially for well-presented and well-priced homes, overpricing could leave your listing sitting while others move.
Looking Ahead
The rest of 2025 hinges heavily on interest rate policy and broader economic stability. For now, the Fraser Valley is in a holding pattern — but with ample inventory and a possible rate cut on the horizon, we could see momentum build heading into summer.
Considering a move this spring? Let’s talk strategy.
📞 604-789-5200
📧 alex@alexmaldeis.ca
