Fraser Valley house prices—March 2025

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

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

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

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

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.