Fraser Valley house prices—May 2025

Despite arrival of spring, few homes are trading hands

Author

Tyler Olsen
May 12, 2025

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

Along with spring flowers, April usually brings a surge in sales activity. Not this year, though.

Benchmark prices for detached houses in Langley and Chilliwack surged last month, but those figures weren’t accompanied by a surge of demand by buyers. Instead, home sales actually declined month-over-month in some areas.

In Langley 14% fewer homes were sold last month than in March. Even in sluggish home markets, activity tends to increase as the weather improves in spring.

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 for 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

Langley’s benchmark single-family house prices surged last month. Having increased by around $23,000 in just two months, they’re now at the same level they were a year ago, even as townhome and apartment values have bounced around. Whether those prices will hold is another matter, with Langley sales activity around 30% lower than a month ago. There’s plenty of supply too: across Langley, more than 1,300 homes were listed for sale at the end of the month. At the end of April 2024, 937 homes were listed.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

May 24

$1,650,200

$874,400

$619,700

Jun 24

$1,637,500

$872,600

$618,100

Jul 24

$1,635,100

$878,900

$618,300

Aug 24

$1,647,300

$884,700

$611,600

Sep 24

$1,633,700

$873,100

$606,500

Oct 24

$1,613,500

$864,800

$604,800

Nov 24

$1,618,400

$867,200

$601,000

Dec 24

$1,606,500

$862,800

$599,900

Jan 25

$1,616,600

$864,600

$603,900

Feb 25

$1,626,900

$868,000

$607,700

Mar 25

$1,635,200

$865,100

$611,900

Apr 25

$1,650,700

$861,800

$611,200

Abbotsford

Benchmark prices in Abbotsford slightly dipped last year in all property classes. That’s still not entirely reflected in our three-month average charts and next month should reveal whether a downward trend is emerging. Demand for homes is also cool, though sales haven’t declined as much as in Langley.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

May 24

$1,240,900

$669,900

$451,800

Jun 24

$1,227,400

$666,800

$446,900

Jul 24

$1,234,700

$666,700

$448,200

Aug 24

$1,222,000

$664,500

$443,100

Sep 24

$1,200,700

$657,500

$433,600

Oct 24

$1,195,900

$649,000

$446,700

Nov 24

$1,193,000

$651,000

$438,400

Dec 24

$1,195,200

$654,500

$436,300

Jan 25

$1,207,400

$653,700

$440,900

Feb 25

$1,215,200

$654,500

$448,000

Mar 25

$1,225,500

$656,100

$443,700

Apr 25

$1,211,600

$655,700

$438,000

Mission

Mission’s detached house prices have maintained some of their strength from the start of 2025, even as multi-family values have declined. But single-family April home sales in Mission were down 38% from the same month last year and down 16% from March.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

May 24

$1,046,700

$674,600

$452,300

Jun 24

$1,056,300

$675,400

$456,600

Jul 24

$1,048,900

$685,700

$466,700

Aug 24

$1,045,900

$684,400

$462,000

Sep 24

$1,003,400

$672,000

$462,800

Oct 24

$1,017,100

$675,200

$459,800

Nov 24

$1,026,100

$678,300

$463,300

Dec 24

$1,023,000

$682,700

$457,900

Jan 25

$1,025,000

$685,500

$457,400

Feb 25

$1,066,600

$664,700

$458,700

Mar 25

$1,064,400

$668,500

$455,800

Apr 25

$1,062,100

$662,200

$448,300

Chilliwack

Chilliwack has had the region’s strongest housing market in recent months, with single-family and apartment prices well above where they were last spring. Sales in the city were in line with last month and about 15% lower than last year.

Raw data: Benchmark prices

Month

Detached

Townhome

Apartment

May 24

$908,400

$647,500

$416,100

Jun 24

$909,700

$642,600

$418,500

Jul 24

$905,600

$628,900

$426,800

Aug 24

$882,500

$629,200

$440,100

Sep 24

$881,800

$612,400

$433,600

Oct 24

$867,100

$622,900

$424,500

Nov 24

$868,000

$628,000

$413,800

Dec 24

$893,100

$626,500

$405,100

Jan 25

$906,200

$626,700

$389,600

Feb 25

$909,100

$639,100

$403,700

Mar 25

$909,300

$647,200

$416,000

Apr 25

$936,400

$645,600

$425,000

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

Across the Fraser Valley, the greatest demand continues to be for townhomes, while the region now has large quantities of single-family homes that aren’t selling. Mission, Abbotsford, and Langley all are in, or headed toward, official “buyers’ market” territory, even if prices don’t yet reflect that.

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.

As prices have dipped, the gap between home prices in different parts of the valley has generally shrunk, though the Abbotsford-Langley single-family home differential is the exception. For the first time in more than a year, the gap between Abbotsford and Chilliwack house prices is below $300,000.

Reply

or to participate.