Real Estate Market Update | Metro Vancouver & The Fraser Valley | Rick the REALTOR | Powered By REALSEARCH.CA
Bank of Canada interest rate cuts were not enough to ease the affordability crisis for many home buyers in the Fraser Valley in 2024, leading to the lowest annual sales seen in ten years. In the Fraser Valley, the City of Surrey accounted for the majority of 2024 sales at 51% with Langley at 24% and Abbotsford accounting for 15%.
In Metro Vancouver, although sales activity had a slower start to the year, price trends began 2024 on the rise and closed out the year on a flatter trajectory. Most market segments saw year-over-year increases of a few per cent except for apartment units, which ended 2024 roughly flat.
"With the data showing renewed strength to finish the year however, it looks as though the 2025 market is positioned to be considerably more active than we’ve seen in recent years.”
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.