Fraser Valley real estate stays in buyers’ market despite high inventory and low cost

ABBOTSFORD — Despite a slight, optimistic rise in home sales last month, the Fraser Valley real estate market still remains below its 2024 levels.

The Fraser Valley Real Estate Board (FVREB) recorded a total of 1,401 active listings in Abbotsford, Mission, and Langley in June —a 24 per cent increase from 2024. Those figures also coincide with a three per cent drop in year-over-year sales at 498 homes.

“For buyers who can tolerate the current economic uncertainty, this market offers some very real opportunities,” said Tore Jacobsen, FVREB chair. “With more homes to choose from and softening prices, it’s a uniquely favourable time to make a move in the Fraser Valley, particularly for first-time buyers.”

The cost of homes ranged from roughly $769,600 in Abbotsford to $903,900 in Mission and $1,025,500 in Langley. Benchmark pricing from North Delta to Mission decreased by five per cent in June compared to the same period last year.