“As prices continue to weaken, the market is showing hopeful signs of renewed confidence,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board.
“While recent economic uncertainty seems to have weighed more heavily here in the Fraser Valley, some buyers are beginning to re-engage in the market, a positive signal heading into the fall.”
Sellers also returned after a summer lull, with new listings up 23% month-over-month to 3,447 and up 3% year-over-year. Active listings reached 10,583, up 1% from August and a significant 17% higher than September 2024.
The region remained firmly in buyer’s market territory, with a sales-to-active listings ratio of 9%. The market is considered balanced when this ratio falls between 12% and 20%, according to the British Columbia Real Estate Association.
Price declines were broad-based across property types. The benchmark price for detached homes fell to $1,420,000, down 1.2% from August and 5.4% from a year earlier.