{"id":572,"date":"2025-04-23T19:31:22","date_gmt":"2025-04-23T23:31:22","guid":{"rendered":"https:\/\/www.alexkliang.com\/blog\/?p=572"},"modified":"2025-04-23T19:31:22","modified_gmt":"2025-04-23T23:31:22","slug":"real-estate-market-update-spring-2025","status":"publish","type":"post","link":"https:\/\/www.alexkliang.com\/blog\/2025\/04\/23\/real-estate-market-update-spring-2025\/","title":{"rendered":"Real Estate Market Update: Spring 2025"},"content":{"rendered":"<p class=\"\" data-start=\"194\" data-end=\"343\">The spring real estate market in the Fraser Valley is off to its slowest start in over 15 years, with home sales falling well below historical norms.<\/p>\n<p class=\"\" data-start=\"345\" data-end=\"570\">The <strong data-start=\"349\" data-end=\"392\">Fraser Valley Real Estate Board (FVREB)<\/strong> reported <strong data-start=\"402\" data-end=\"431\">1,036 home sales in March<\/strong>, a modest <strong data-start=\"442\" data-end=\"472\">13% increase from February<\/strong>, but still <strong data-start=\"484\" data-end=\"515\">26% below March 2024 levels<\/strong> and nearly <strong data-start=\"527\" data-end=\"569\">50% under the 10-year seasonal average<\/strong>.<\/p>\n<h3 class=\"\" data-start=\"572\" data-end=\"604\">Inventory Rises, Sales Lag<\/h3>\n<p class=\"\" data-start=\"605\" data-end=\"832\">After a dip in February, <strong data-start=\"630\" data-end=\"664\">new listings rose 22% in March<\/strong> to <strong data-start=\"668\" data-end=\"677\">3,800<\/strong>. Total active listings hit <strong data-start=\"705\" data-end=\"714\">9,219<\/strong>, marking the <strong data-start=\"728\" data-end=\"767\">highest inventory level in a decade<\/strong>\u2014<strong data-start=\"768\" data-end=\"793\">up 49% year-over-year<\/strong> and <strong data-start=\"798\" data-end=\"831\">59% above the 10-year average<\/strong>.<\/p>\n<h3 class=\"\" data-start=\"834\" data-end=\"873\">Market Conditions: Buyer-Friendly<\/h3>\n<p class=\"\" data-start=\"874\" data-end=\"1068\">With a <strong data-start=\"881\" data-end=\"922\">sales-to-active listings ratio of 11%<\/strong>, the Fraser Valley remains firmly in a <strong data-start=\"962\" data-end=\"980\">buyer\u2019s market<\/strong>. Typically, the market is considered balanced when the ratio falls between 12% and 20%.<\/p>\n<h3 class=\"\" data-start=\"1070\" data-end=\"1107\">What\u2019s Holding the Market Back?<\/h3>\n<p class=\"\" data-start=\"1108\" data-end=\"1216\">Economic uncertainty\u2014especially around U.S. tariffs\u2014is creating hesitation on both sides of the transaction.<\/p>\n<blockquote data-start=\"1218\" data-end=\"1391\">\n<p class=\"\" data-start=\"1220\" data-end=\"1391\">\u201cSellers are reluctant to lower prices, while buyers face tighter financing conditions,\u201d said FVREB Chair Tore Jacobsen. \u201cThis disconnect is slowing down market activity.\u201d<\/p>\n<\/blockquote>\n<h3 class=\"\" data-start=\"1647\" data-end=\"1681\">Average Time to Sell in March:<\/h3>\n<ul data-start=\"1682\" data-end=\"1762\">\n<li class=\"\" data-start=\"1682\" data-end=\"1713\">\n<p class=\"\" data-start=\"1684\" data-end=\"1713\"><strong data-start=\"1684\" data-end=\"1703\">Detached homes:<\/strong> 31 days<\/p>\n<\/li>\n<li class=\"\" data-start=\"1714\" data-end=\"1737\">\n<p class=\"\" data-start=\"1716\" data-end=\"1737\"><strong data-start=\"1716\" data-end=\"1727\">Condos:<\/strong> 33 days<\/p>\n<\/li>\n<li class=\"\" data-start=\"1738\" data-end=\"1762\">\n<p class=\"\" data-start=\"1740\" data-end=\"1762\"><strong data-start=\"1740\" data-end=\"1754\">Townhomes:<\/strong> 27 days<\/p>\n<\/li>\n<\/ul>\n<h3 class=\"\" data-start=\"1764\" data-end=\"1788\">Prices Hold Steady<\/h3>\n<p class=\"\" data-start=\"1789\" data-end=\"2012\">The <strong data-start=\"1793\" data-end=\"1812\">benchmark price<\/strong> across all property types in the Fraser Valley edged up <strong data-start=\"1869\" data-end=\"1886\">0.4% in March<\/strong> to <strong data-start=\"1890\" data-end=\"1902\">$974,400<\/strong>. While prices are holding relatively firm, today\u2019s market conditions may offer buyers more room to negotiate.<\/p>\n<p data-start=\"1789\" data-end=\"2012\">In <a href=\"https:\/\/www.alexkliang.com\/listings\/city-South+Surrey+White+Rock\/type-House\/page-1\" target=\"_blank\" rel=\"noopener\">South Surrey &amp; White Rock<\/a>, we are seeing strong support for prices, despite the rise in inventory. Well presented and priced homes are still attracting serious buyers, especially around the $1 million price point. Luxury homes over $2 million are taking a longer time to be absorbed on the market, but with patience and perseverance, sellers are achieving successful sales prices, proving the value and strength of our local South Surrey &amp; White Rock real estate market.<\/p>\n<div dir=\"auto\">\n<p>In a constantly changing market, expertise, collaboration and perseverance are essential. If you\u2019re thinking of buying or selling this season, contact us to discuss how we can achieve your real estate goals together.<\/p>\n<\/div>\n<div dir=\"auto\" style=\"text-align: center;\"><strong>Alex K. Liang<\/strong>: 604-817-5179 |\u00a0<strong>Parm Pooni<\/strong>: 604-657-1742<\/div>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-553\" src=\"https:\/\/www.alexkliang.com\/blog\/wp-content\/uploads\/2024\/11\/alex-and-parm-team-banner-mailchimp-1.jpg\" alt=\"\" width=\"2000\" height=\"500\" srcset=\"https:\/\/www.alexkliang.com\/blog\/wp-content\/uploads\/2024\/11\/alex-and-parm-team-banner-mailchimp-1.jpg 2000w, https:\/\/www.alexkliang.com\/blog\/wp-content\/uploads\/2024\/11\/alex-and-parm-team-banner-mailchimp-1-300x75.jpg 300w, https:\/\/www.alexkliang.com\/blog\/wp-content\/uploads\/2024\/11\/alex-and-parm-team-banner-mailchimp-1-1024x256.jpg 1024w, https:\/\/www.alexkliang.com\/blog\/wp-content\/uploads\/2024\/11\/alex-and-parm-team-banner-mailchimp-1-768x192.jpg 768w, https:\/\/www.alexkliang.com\/blog\/wp-content\/uploads\/2024\/11\/alex-and-parm-team-banner-mailchimp-1-1536x384.jpg 1536w\" sizes=\"auto, (max-width: 2000px) 100vw, 2000px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The spring real estate market in the Fraser Valley is off to its slowest start in over 15 years, with home sales falling well below historical norms. The Fraser Valley &hellip; [<a href=\"https:\/\/www.alexkliang.com\/blog\/2025\/04\/23\/real-estate-market-update-spring-2025\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[41,28,86,29,65,40,89,90,24,30,50],"class_list":["post-572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-crescent-beach","tag-engel-and-volkers","tag-engel-and-volkers-ocean-park","tag-engel-and-volkers-white-rock","tag-luxury-realtor","tag-ocean-park","tag-ocean-park-realtor","tag-real-estate-market","tag-real-estate-market-update","tag-south-surrey","tag-south-surrey-realtor"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts\/572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/comments?post=572"}],"version-history":[{"count":1,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts\/572\/revisions"}],"predecessor-version":[{"id":574,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/posts\/572\/revisions\/574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/media\/573"}],"wp:attachment":[{"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/media?parent=572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/categories?post=572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alexkliang.com\/blog\/wp-json\/wp\/v2\/tags?post=572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}