An Appraiser’s Take on the Fraser Valley Real Estate Market
- Surrey
- South Surrey
- White Rock
- North Delta
- Cloverdale
- Langley
- Abbotsford
- Mission
As we settle into the late fall, the real estate market in the Fraser Valley isn’t simply “hot” or “cold”—it’s a rich tapestry of micro-markets, each demanding precise valuation. Forget the headlines; my job is to look past the averages and determine where the true velocity and value lie. Here is my professional breakdown of the October 2025 data, highlighting the shifts, the stabilizers, and the surprising pockets of heat.
The Tale of Two Markets: Detached vs. Attached
1. The Detached Landscape: A Buyer’s Arena, But Not All Buyers
Across the board, the detached market is firmly situated in Buyer’s Market territory, with average Sales Ratios (SR) lingering around 8% to 11% in Surrey, South Surrey, and Mission. This means roughly 8 to 11 properties are selling for every 100 listed—a clear indication that buyers hold the negotiating power.
- South Surrey/White Rock’s Resilience: Despite the overall slow pace (10% SR), detached prices here saw a notable 10% month-over-month increase to a median of $1,787,500. This jump suggests high-end or highly desirable properties recently shifted hands. However, sellers should beware: the average Days on Market (DOM) is high at 41. Buyers willing to navigate longer timelines can find excellent opportunities, particularly outside the hot $1.0M – $1.25M price band, which is currently moving fast (25% SR).
- Mission’s Correction: In Mission, we observed a significant 12% median sale price correction down to $880,000. This market is highly sensitive to inventory fluctuations. For sellers who are priced correctly, the sub-$800K category is performing well (29% SR), suggesting a high demand for entry-level detached homes.
- Cloverdale’s Hot Pockets: While the overall detached market is balanced (17% SR), the $1.0M to $1.25M price band is experiencing intense competition with an extraordinary 43% Sales Ratio (A Seller’s Market!). This is a powerful signal that move-up buyers are aggressively targeting this specific value segment.
2. The Attached Market: Speed and Stability
The condo and townhome segments remain the stabilizing force in the Fraser Valley, primarily operating in a Balanced Market (12% to 17% SR). The key difference from detached homes? Speed.
- Cloverdale Leads the Pack: The most telling trend is in Cloverdale, where the attached market is a technical Seller’s Market (21% SR). Units here are moving quickly, with an outstanding 37% average SR in the $500,000 to $700,000 range. This is where demand is strongest, particularly for two-bedroom units.
- Langley’s Steady Hand: Attached properties in Langley remain rock-solid and highly efficient, maintaining a balanced 17% SR with sale prices effectively flat month-over-month. For sellers, look to Murrayville and four-bedroom-plus properties, which are seeing the highest velocity.
- The Valuation Note on Price Drops: While Cloverdale attached showed a 9% drop in median sale price, and Surrey attached fell 3%, the high Sales Ratios suggest this is likely due to the composition of what sold (smaller, less amenity-rich units) rather than a fundamental erosion of value. The market remains competitive, evidenced by a sale-to-list price ratio of 97-99% in most attached areas.
Appraiser’s Prescription for November
For Sellers: The key to success is pinpoint accuracy in pricing. If you are selling a detached home in a slower market (Surrey, Mission), understand that buyers have time. Focus on the best-performing segments: 3 to 4 bedroom detached homes (high SR in Cloverdale, Langley, Abbotsford) and 2 bedroom attached homes (especially in Cloverdale). A strong pricing strategy is critical, as sales are consistently closing 2% to 5% below list price in the detached markets.
For Buyers: Use the current buyer’s market indicator for detached homes to your advantage, especially in communities like White Rock, Grandview, and North Delta (Nordel/Scottsdale) where inventory is higher and sales ratios are lower. Look for properties that have been on the market for 30+ days; these sellers are often highly motivated. For attached properties, act fast—especially in the competitive sub-$700k range.
The market is fragmented. As an appraiser, I always advise clients that the overall number is merely a starting point. Your home’s unique value is found in the hyper-localized data points that define your specific neighbourhood, price band, and property type.
If you need an accurate valuation for your property, do not hesitate to contact us.
Adlaw Appraisasals Ltd.