Housing Market Update for January, 2025

Posted by Reliable Real Estate Group® on February 2, 2025

Your Fraser Valley Real Estate Market Update for January 2025, by Reliable Real Estate Group — recognized as a Medallion Club member by the Fraser Valley Real Estate Board, placing us among the top 10% of real estate teams from 2014 to 2025.

Fraser Valley’s decade-high inventory could open doors for buyers

SURREY, BC — Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 percent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 percent above the 10-year average.

Benchmark Price Activity

Single Family Detached:

At $1,482,400, the Benchmark price for an FVREB single-family detached home increased 0.1 per cent compared to December 2024 and increased 0.6 per cent compared to January 2024.

Townhomes

At $826,000, the Benchmark price for an FVREB townhome decreased 0.2 per cent compared to December 2024 and decreased 0.2 per cent compared to January 2024.

Apartments:

At $534,600, the Benchmark price for an FVREB apartment/condo increased 0.1 per cent compared to December 2024 and decreased 1.2 per cent compared to January 2024.

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark price down 0.03 per cent to $964,800.

“The market appears to be in a holding pattern at the moment,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war, which could lead to even more rate cuts by the Bank of Canada. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives.”

If you would like to know how to navigate this market, whether you are buying or selling, please feel free to reach out to me directly.

*Source: FVREB®

About Reliable Real Estate Group:

The Reliable Real Estate Group is a dynamic team based in Surrey, B.C., specializing in the Fraser Valley real estate market. With a commitment to excellence and a client-centric approach, the group has quickly established a reputation for delivering outstanding results and personalized service.

How Reliable Real Estate Group’s Success Benefits Our Clients:

• Proven Results: Our team has built a strong reputation for delivering results. Our proven strategies and client-first approach consistently lead to successful transactions and satisfied clients.

• Skilled Negotiation: Whether buying or selling, our clients benefit from expert negotiation skills that maximize value. We know how to position offers and counteroffers to ensure our clients get the best possible outcomes in a competitive market.

• Deep Local Expertise: As Fraser Valley specialists based in Surrey, we offer in-depth knowledge of local neighbourhoods, schools, amenities, and market trends. This insight helps clients make informed decisions tailored to their goals and lifestyles.

• Personalized Client Experience: We understand that every client’s journey is unique. From first-time buyers to seasoned investors, we provide dedicated support, clear communication, and exceptional service throughout every stage of the real estate process.

• Trusted Network of Professionals: Our longstanding relationships with industry experts—mortgage brokers, inspectors, contractors, lawyers, and more—give our clients access to a trusted team of professionals, making each transaction seamless and stress-free.

The Reliable Real Estate Group proudly serves Surrey, Langley, Abbotsford, Chilliwack, Mission, and Fraser Valley area.

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