The year 2025 witnessed an economic slowdown that affected the housing sector and highlighted widespread economic uncertainty, according to the Vermont Real Estate Market Regulatory Authority and the Residential Property Review Board (FVRB). New property listings in December fell by 39% compared to the previous month, despite overall inventory remaining above its seasonal average.
In the Fraser Valley, higher inventory and lower prices failed to stimulate buyer demand, prompting many buyers to wait despite favorable negotiating conditions. MLS data showed that sales declined by 16% compared to 2024 and by 33% compared to the ten-year average. The city of Surrey accounted for 48% of annual sales, followed by Langley at 24% and Abbotsford at 16%.
Despite abundant options and declining prices, buyer hesitation reflects the overall market sentiment. In December, home sales fell by 2.5% month-over-month and 7.5% year-over-year. The benchmark price for a detached home in North Delta reached $1,267,100, down 10.6% from the previous year, while sales of detached homes dropped by 21.5% compared to 2024.
Townhouses and condominiums recorded benchmark prices of $912,800 and $520,600, respectively, in December, representing annual declines of 3.4% and 6.4%. These changes were reflected in property valuations across the region, with no significant decreases observed in Ladner and Tsawwassen compared to North Delta.
