Fraser Valley Real Estate Market Update: February 2025

Your Local Look at Surrey, South Surrey/White Rock, Cloverdale, and Langley

With February behind us, it’s time to break down the latest numbers and trends from the Fraser Valley real estate market—and there’s a lot to unpack. Whether you're a buyer, seller, or simply keeping tabs on your neighbourhood, this post brings you the highlights in an engaging, easy-to-understand format.

The Headlines: A Market Leaning Towards Buyers

The Fraser Valley housing market is shifting gears. For the first time in four months, sales ticked up slightly (up 13% over January), but year-over-year numbers are still down significantly. Inventory is high, prices are softening, and buyers are taking their time.

• 920 total sales in February

• 3,121 new listings

• 8,070 active listings (up 45% compared to Feb 2024!)

• Sales-to-active listings ratio: 11%

With a ratio below 12%, we are officially in buyer’s market territory, giving those shopping for homes more choice, leverage, and negotiation power.

What Does This Mean for Buyers?

If you’re house hunting right now in Surrey, Langley, or South Surrey, you’re in a prime position. Homes are taking an average of 32 to 39 days to sell, and prices are steady or declining depending on the property type and area. This gives buyers more breathing room to make decisions without the pressure we saw during previous hot markets.

What Sellers Need to Know

If you’re thinking of selling, it’s crucial to price your home strategically and ensure your property shows well. Buyers have options right now. Homes that are clean, staged, and priced right are still selling—but gone are the days of multiple offers within 48 hours (at least for now).

Let’s Zoom In: Surrey, Cloverdale, Langley & South Surrey/White Rock

We specialize in these areas, and here’s what the February 2025 stats are telling us:

🏠 Surrey (All Areas Combined)

• Detached benchmark price: $1,622,200 (up 0.9% from Jan)

• Townhomes: $842,700 (down 1.0%)

• Apartments: $525,700 (down 0.2%)

• Sales activity: Detached sales dropped 32% year-over-year, while condo sales dropped 36%

Despite the drops, prices in Surrey have remained fairly resilient month-over-month. The rise in detached home prices may reflect strong demand for single-family properties with more space.

🏡 Cloverdale

• Detached benchmark price: $1,529,200 (up 1.9% from Jan)

• Townhomes: $826,500 (down 1.3%)

• Condos: $582,700 (down 2.2%)

• Active Listings: Way up across the board: detached (+32%), townhomes (+96%), condos (+173%)

With inventory skyrocketing, buyers in Cloverdale have options. While detached homes saw a small price bump, the increase in available listings is a strong indicator that competition among sellers is growing.

🏢 Langley

• Detached benchmark price: $1,617,700 (flat month-over-month)

• Townhomes: $864,500 (unchanged)

• Apartments: $598,500 (down 0.9%)

• Sales: Detached home sales rose 54% compared to January!

Langley continues to attract interest. With a balanced mix of affordability and lifestyle, it’s no surprise we saw a notable uptick in detached home sales.

🏘️ South Surrey/White Rock

• Detached benchmark price: $1,844,400 (down 0.7%)

• Townhomes: $927,500 (down 0.8%)

• Condos: $609,400 (up 1.7%)

• Sales: Detached sales up 11% over January; condos up 32%!

This area continues to attract downsizers, retirees, and luxury buyers. While prices eased slightly for houses and townhomes, condo values are climbing—likely due to a surge in demand for low-maintenance living.

Where Is the Market Heading?

We’re in a season of transition. February’s numbers show a healthy increase in inventory and softening prices, which together point to a more balanced and calm spring market. If interest rates ease later this year as expected, we could see demand rise again.

✨ Key Takeaways:

• Buyers: You have the upper hand—shop smart and negotiate with confidence.

• Sellers: Price matters. Presentation matters. We can help you shine.

• Investors: Rental demand remains strong in Surrey and Langley—ask us about key buildings with great ROI potential.

Thinking of Making a Move?

We’re Greg & Liz Holmes, your local real estate duo with deep roots in Surrey, Cloverdale, Langley, and South Surrey. We love making sense of market data and using it to help you win—whether you're buying your first home or selling your family property.

Have questions? Want to know what your home is worth right now?

Let's chat. No pressure, just local expertise you can count on.

Greg Holmes, Personal Real Estate Corporation
Liz Holmes, REALTOR®
Your Local Fraser Valley REALTORS®
Macdonald Realty
www.holmesteam.ca
@holmesteamgregliz on Instagram
@holmesteam on Facebook
@holmesteamgregliz on TikTok
@theholmesteam on YouTube