The Fraser Valley housing market became more affordable again in June, but buyers still showed little urgency to jump back in.
Sales improved modestly, increasing 2% from May to 1,147 transactions, but remained 4% below June of last year. At the same time, active inventory climbed to 10,377 listings and the sales-to-active listings ratio held at just 11%, keeping the Fraser Valley firmly in buyer’s market territory.
The bigger story continues to be pricing.
The composite benchmark price fell another 0.9% in June to $884,800, leaving Fraser Valley home prices approximately 26% below their 2022 peak.
Affordability is improving, inventory is abundant, and buyers have more negotiating power than they have had in years. However, buyers still aren’t rushing back into the market.
June Sales Activity
The Fraser Valley recorded 1,147 sales in June, up 2% from May but still 4% below the same month last year.
While it’s encouraging to see sales improve rather than decline again, the increase wasn’t enough to shift overall market conditions.
Active inventory increased to 10,377 listings while another 3,303 new listings came to market during June. The sales-to-active listings ratio remained unchanged at just 11%.
In other words, inventory continues to build faster than buyers are absorbing it, leaving us firmly in buyer’s market territory.
Home Prices Continue to Decline
The composite benchmark price declined another 0.9% month-over-month and now sits at $884,800, down 7.1% compared to June 2025.
By property type:
- Detached Homes: $1,350,200 (-1.2% month-over-month, -7.7% year-over-year)
- Townhomes: $764,100 (-0.7% month-over-month, -7.3% year-over-year)
- Condos: $476,400 (-1.5% month-over-month, -9.1% year-over-year)
Outside of a slight improvement in Chilliwack townhome prices, weakness remained widespread across virtually every market segment.
This is no longer isolated to one property type—it’s a broad-based market adjustment.
Housing Market Snapshot
Average sale-to-list-price ratios remained relatively steady during June:
- Detached: 94.5%
- Townhomes: 96.8%
- Condos: 94.7%
What I’m seeing in the marketplace is that much of the downward pressure isn’t coming from dramatic list price reductions.
Instead, buyers are negotiating much harder than they have in years.
Sellers are often reluctant to reduce asking prices immediately, but buyers know they have options and are negotiating aggressively during offers instead.
That growing gap between seller expectations and buyer willingness to pay is making transactions increasingly difficult to put together.
Buyer Behaviour Has Changed
One of the biggest changes I’m seeing is simply the pace of buyers.
Showings are slower.
Appointments are booked further into the future.
Many buyers are taking far longer before deciding whether a property is even worth viewing.
A buyer who previously may have rushed to see a home within days is now perfectly comfortable waiting another week—or even another month.
With over 10,000 active listings available, buyers simply don’t feel pressured.
Days on Market Tell an Interesting Story
June produced some interesting selling-time statistics.
Detached homes averaged 36 days on market while the median fell to just 19 days.
Townhomes averaged 32 days with a median of 19 days.
Condos averaged 38 days with a median of 25 days.
Although the averages remain relatively high, the much lower median selling times suggest that properly priced, well-presented homes are still selling reasonably quickly.
Homes that miss on pricing or presentation, however, can sit on the market considerably longer.
Economic Uncertainty Continues
Lower prices alone aren’t creating confident buyers.
Canada has now entered what economists describe as a technical recession following two consecutive quarters of economic contraction.
Trade uncertainty, tariffs, consumer confidence and borrowing costs continue to weigh heavily on buyer psychology.
Meanwhile, the Bank of Canada left its overnight rate unchanged at 2.25% in June.
At this point I don’t expect significant interest rate relief in the immediate future.
My Outlook
Last month I suggested that unless June produced a meaningful increase in sales activity, prices would likely continue falling.
That improvement simply didn’t happen.
Sales rose only 2%.
Inventory climbed again.
The sales-to-active listings ratio remained stuck at 11%.
Benchmark prices declined another 0.9%.
Based on current conditions, I expect Fraser Valley home prices could decline another 2–3% through the remainder of the summer before potentially finding some stability in the fall.
Buyers remain patient.
Sellers remain reluctant to adjust.
Eventually, I still believe sellers will blink before buyers.
What This Means for Buyers and Sellers
For buyers, this remains one of the strongest negotiating environments we’ve seen in years. Selection is abundant, competition is limited, and there’s often meaningful room to negotiate.
For sellers, pricing strategy has become increasingly important. In a declining market, yesterday’s comparable sale can quickly become outdated.
If you’re thinking about buying or selling and would like to understand what these changing conditions mean for your specific property, neighbourhood, or plans, I’d be happy to help.
Reach out anytime for a conversation about your real estate goals.
