Adlaw Appraisals – February 2025 Market Update

The Adlaw Report – February 2025

Fraser Valley and Greater Vancouver

Fraser Valley
https://www.fvreb.bc.ca/statistics/Package202502.pdf

 

Sales Volume:

Month over Month: + 13%

Year over Year: – 26%

Active Listings:

Month over Month: + 11%

Year over Year: + 45%

55% Above the 10 Year Average

Overall sales-to-active listings is at 11% (12-20% is balanced). If the current ratio persists, it
pushes downward pressure on values.

Prices:

For all properties, in all areas, for all time frames (1 month, 3 month, 6 month, 1 year, 3 year)
values are down. From 1-12 months, prices are down 1-5% on average. The biggest drops are over the last 3 years.
5-20%. Some of the biggest drops are seen in the detached housing market; specifically Abbotsford and
Mission.

Surrey has also been hit extremely hard with the following 3 year price drops:

Detached: – 13.2%

Townhouse: – 12.9%

Apartment: – 7.2%

Greater Vancouver
https://members.gvrealtors.ca/news/GVR-Stats-Package-Feb-2025.pdf

Sales Volume:

Year over Year: – 11.7%

28.9% Below the 10 year Average

Active Listings:

Year over Year: + 32%

36.4% Above the 10 Year Average

Overall sales-to-active listings is at 14.8% (12-20% is balanced).

*Detached Single Family Dwellings being weakest at 10.7%

Prices:

Prices are flat or down across the board with very few exceptions. Overall it has been flat over the
last 3 months, down 2.4% over the last 6 months, down 1.6% over the last 1 year and down 8.9% over
the last 3 years. The price changes over the last 6 and 12 months in the GVA for each property type is:

Detached: – 2% / + 1.8%

Townhouse: – 2.9% / – 1.2%

Apartment: – 2.7% / -2.8%