Fraser Valley house prices—March 2025

Detached house prices continued to rebound in most Fraser Valley markets. 📊 Tyler Olsen

This story first appeared in the Feb. 13, 2025, edition of the Fraser Valley Current newsletter. Subscribe for free to get Fraser Valley news in your email every weekday morning.

After a relatively strong February, home prices in the Fraser Valley continue to yo-yo, with increasing evidence that more people are looking to sell than buy.

Our monthly look at home prices now includes tables so you can see the monthly changes in the benchmark prices in each community.

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 indications of a rebound in recent months, Langley home prices returned to form in February, with buyers preferring lower-priced detached houses in February. Townhome and apartment median and average prices remain below the benchmark, providing more evidence that buyers want to spend less, rather than more, than six months ago.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

Mar 24

1623700

851900

623400

Apr 24

1644400

867800

620100

May 24

1650200

874400

619700

Jun 24

1637500

872600

618100

Jul 24

1635100

878900

618300

Aug 24

1647300

884700

611600

Sep 24

1633700

873100

606500

Oct 24

1613500

864800

604800

Nov 24

1618400

867200

601000

Dec 24

1606500

862800

599900

Jan 25

1616600

864600

603900

Feb 25

1617700

864500

598500

Abbotsford

Homes in Abbotsford, like most of the rest of the valley, remain broadly cheaper than a year ago, although the townhouse market has seen a notable uptick over the last six months, while apartment prices have also been gradually inching upwards.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

Mar 24

1238200

658900

455900

Apr 24

1237300

665200

451300

May 24

1240900

669900

451800

Jun 24

1227400

666800

446900

Jul 24

1234700

666700

448200

Aug 24

1222000

664500

443100

Sep 24

1200700

657500

433600

Oct 24

1195900

649000

446700

Nov 24

1193000

651000

438400

Dec 24

1195200

654500

436300

Jan 25

1207400

653700

440900

Feb 25

1204100

657600

440100

Mission

Mission’s monthly housing data is always relatively unstable because fewer homes trade hands than in neighbouring cities, but that’s especially the case right now.

Although detached housing prices continue to trend steadily upwards, the townhome and apartment markets have seen little demand and few sales. That can be seen both in the sales-data to follow, and in the declining benchmark prices for both categories.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

Mar 24

1054700

676500

453400

Apr 24

1064500

669200

454400

May 24

1046700

674600

452300

Jun 24

1056300

675400

456600

Jul 24

1048900

685700

466700

Aug 24

1045900

684400

462000

Sep 24

1003400

672000

462800

Oct 24

1017100

675200

459800

Nov 24

1026100

678300

463300

Dec 24

1023000

682700

457900

Jan 25

1025000

685500

457400

Feb 25

1056200

667500

453200

Chilliwack

Prices for detached homes in Chiliwack continue to climb and have seen the most growth in the region.

The benchmark prices for townhomes, meanwhile, is at its highest point since last June, while apartment benchmark has once again rebounded above the $400,000 mark. As in past months, some skepticism may be warranted with the Chilliwack and District Real Estate Board figures bouncing around quite a bit and with multi-family median and average prices remaining well below the benchmark figure. That suggests that there’s still far more demand for cheaper apartments and townhomes.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

Mar 24

914600

620200

414700

Apr 24

923500

636100

416600

May 24

908400

647500

416100

Jun 24

909700

642600

418500

Jul 24

905600

628900

426800

Aug 24

882500

629200

440100

Sep 24

881800

612400

433600

Oct 24

867100

622900

424500

Nov 24

868000

628000

413800

Dec 24

893100

626500

405100

Jan 25

906200

626700

389600

Feb 25

909100

639100

403700

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. There are signs that lower prices in some areas may be encouraging more purchases. But for every community where the sales-to-listings ratio has increased, there is another place where it continues to fall. Mission has seen particularly little real estate activity with just two apartments and three townhomes sold in February.

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.

Lower home prices have generally shrunk the geographic price gap throughout the region. And the Abbotsford and Mission markets also have begun pushing towards an equilibrium. Detached homes in Mission have historically been cheaper, not more expensive, than those in Abbotsford. The last year saw that dynamic flip, but there are indications—including from in the above sales-to-listings ratio—that buyers are seeing Mission as relatively expensive now, compared to its southern neighbour.

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