Fraser Valley house prices—April 2025

Home prices modestly increased across much of the Fraser Valley in March, even as sales were relatively limited.

Although prices remain lower than a year ago, they have broadly risen over the last six months, despite economic uncertainty.

April 2025 note: In its April statistical release, the Fraser Valley Real Estate Board revised benchmark prices for March 2025. The revisions saw moderate increases to benchmark prices for detached houses in March, and relatively minor increases to benchmark prices for townhomes and apartments. The following charts reflect those changes.

These charts use data from local real estate boards. Data for Langley, Abbotsford, and Mission comes from the Fraser Valley Real Estate Board. You can find it here. Data for Chilliwack comes from the Chilliwack and District Real Estate Board. You can find it here.

If you find an error in the data, please let us know by emailing us.

Fraser Valley home prices

Why are we using a rolling average? 

The following charts show the month-over-month change in a three-month rolling average of a trio of home price measures. A rolling average is simply the average of the last three months. Using a rolling average, and comparing it to the previous month, allows for larger sample sizes and removes statistical noise caused monthly spikes and dips that obscure broader trends. From month to month, home prices might bounce up, then down, then up again. In testing, a three-month rolling average gave the best indication of a general trend while providing new information.

How to read the charts:

The charts show the rolling average’s change from the preceding month. If a line is in the red, it means the rolling average value has decreased from the last month. If the line is in the white, it means the rolling average has increased. Take note that the Y axis may change from graph to graph.

The black line represents the ‘benchmark price,’ a value calculated by real estate boards that tries to capture the cost of a ‘typical’ home in a community. The benchmark price is based on home sales. The median price (light blue) and average price (grey) are basic indicators that can vary considerably depending on whether a large proportion of homes sold are particularly expensive (or cheap). The median and average prices can—but do not always—influence the future direction of the benchmark price.

Langley

After declines late last year, home prices in Langley have mostly recovered previous losses. The value of detached houses, townhomes, and apartments, have all risen at the start of the year. After the recovery, prices are again roughly the same as they were six months ago.

Raw data: Benchmark prices

Abbotsford

Detached house prices in Abbotsford have rebounded considerably over the start of 2025. Apartment prices have continued to also modestly increase, while townhomes have also trended upwards. Despite the increases and across all property classes, prices are still roughly $10,000 lower than they were a year ago.

Raw data: Benchmark prices

Mission

Like in Abbotsford and Langley, prices for detached homes have risen through the start of 2025. Over the last six months, the benchmark price for detached homes in Mission has risen by more than 6%, the largest increase in the Fraser Valley.

Multifamily benchmark prices have roughly held steady. Steadily increasing median and average prices for apartments, but Mission’s low apartment inventory (just six units have been bought the last two months) means those figures can be influenced by just a couple newer trading hands.

Raw data: Benchmark prices

Chilliwack

Home prices in Chilliwack have also maintained their upward trajectory.

The detached benchmark price has risen by more than $40,000 since November, although it remains lower than a year ago. Townhome prices have also regained losses incurred in the second half of 2024. And the apartment benchmark price has also sharply rebounded over the last two months, though time will tell if the pattern moderates over the spring. (The Chilliwack and District Real Estate Board figures tend to be more volatile than those released by the Fraser Valley Real Estate Board.)

Raw data: Benchmark prices

Supply and demand

How to read the charts:

Price figures can show where the housing market is at, or has been. But one can also look to supply and demand to gauge which directions home values will go in the coming months.

The charts below show each market’s ratio of sales to active listings. The measure compares how many homes are being sold to how many are listed for sale. The Fraser Valley Real Estate Board says that a sales-to-listings rate exceeding 20% is indicative of a “sellers market“—in other words, there’s considerable competition for listings and prices can be expected to rise. A rate below 12% can be considered a “buyers market,” according to the FVREB, with those looking to buy a home having plenty of selection and sellers having less leverage. That can allow would-be buyers to negotiate lower prices.

The ratio

There remains less competition for homes listed for sale than a year ago across all property classes and communities. Demand for townhomes has been the strongest and activity in Chilliwack and Langley suggests rebounding activity. Across the Fraser Valley Real Estate Board region, which spans from White Rock to Abbotsford, the overall listing ratio is just 11%, suggesting relatively weak demand across the Lower Mainland.

The eastbound discount

As The Current has previously written, home prices are generally more expensive the closer one gets to Vancouver. As home prices have increased everywhere, the dollar gap between home values in different parts of the region have widened. The figures below reflect those gaps. The gap can fluctuate from month to month because it reflects price changes in two different communities, but changes over a larger timeline can reveal shifts in the housing market—or how the figures themselves are calculated.

Price differentials between Fraser Valley cities are broadly smaller than they were six months ago, despite slightly higher prices in many areas.