Image: Pattison Media / File

By Alyssa Conti

REAL ESTATE INVENTORY

Fraser Valley real estate hits decade-high inventory amid trade war uncertainty

Feb 7, 2025 | 11:28 AM

SURREY — The ball is in the homebuyer’s court across Fraser Valley as thousands of new listings go up in January– a 166 per cent jump from December 2024.

Fraser Valley Real Estate data shows 946 new listings in Abbotsford and Langley during the month, for a total of 1,605 residential properties. The City of Mission saw a 237 per cent hike, with 78 new listings.

The east saw a 214 per cent increase as 342 homes went up in Chilliwack, Agassiz, Hope, and surrounding areas.

Source: CADREB

“The market appears to be in a holding pattern at the moment,” said Baldev Gill, Fraser Valley Real Estate Board CEO, in a news release. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war.”

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There is a silver lining, though.

According to the Chilliwack and District Real Estate Board (CADREB), realtors reported a sales upturn in late January. Low interest and more rate cuts from the Bank of Canada may also continue to attract buyers and stabilize the market.

The average price of a CADREB listing sat at $695,000 in January, while FVREB listings went a little higher at more than $1 million.

Source: FVREB

Detached homes dominated listings across the region, except for Mission, which saw the most significant increase in apartments.