The July Market: A Summary

July is not generally the busiest time of year for the real estate market, and this year is no exception. As we know, 2025 has not exactly been a busy year for the Fraser Valley Real Estate Market, so it should come as no surprise that July has brought us more of the same.

Sales & Activity

With just 1,054 sales of all residential property types in July 2025, we found ourselves about 27% below the 10-year average and 4% down compared to July 2024. We also saw a typical summer decrease in activity from June to July, with just a 2% decrease month-over-month. We are seeing numbers very slowly get closer to their 10-year averages compared to some previous months, but this level of activity is still showing the market to be very slow in sales volume.

Listings & Inventory

Slower sales continue to be paired with an abundance of new listings. July 2025 saw 2,980 new properties come onto the market. This figure is 19% more than the 10-year average for the month. While we are still above average for new listings, and well above average for total inventory, new listings, just like sales, are creeping closer to the 10-year average each month that passes. The closer most metrics get back to their 10-year averages, the closer we will likely be to a more normal market.

The consistent pattern of higher-than-average new listings alongside lower-than-average sales means the total number of homes available on the MLS continues its climb. We wrapped up July with 8,062 homes for sale, marking a 0.5% decrease month-over-month, a 24% increase year-over-year, and a substantial 62% more than the 10-year average for July. Historically, comparable inventory levels have still only occurred during a four-month period in 2008.

Sales-to-Active-Listings Ratio

The sales-to-active-listings ratio—how many homes sell for every 100 listed—was 13% in July 2025. This places us firmly at the lower end of a balanced market (12-20% is balanced). July’s ratio was exactly the same as June, but is down from July 2024’s 17% ratio. Detached homes remained a buyer’s market at 11%, condos were still near buyer's market territory, but up 1% over last month to a ratio of 14%, while townhomes maintained more activity at 17%, the same as in June 2025.

Pricing & Affordability

Pricing, too, has continued its downward trajectory, as the average home (of all property types) in the Fraser Valley is currently $944,800. This marks a 0.7% decrease month-over-month and a 5.5% decrease compared to a year ago. Unless we see activity pick up soon, we will likely continue to see prices slowly slip down.

While interest rates did hold steady for a third announcement in a row, things may be lining up for the next announcement to finally bring another decrease, providing even more affordability than we have now.

Looking Forward: My Take

If we do see rates come down one or more times, we will likely see activity pick up as well. I know I have been saying this for months, and this spring did not take off despite seeing rates decrease, but there has to be a breaking point. My concern is that the lower prices get before activity picks up again, the faster prices might jump back up.

We’ve seen it time and time again in our market, where the average buyer tends to mimic the sentiment of the market. I have been hearing thoughts like “No one else is buying right now, so maybe it’s not a good time to buy,” and this same attitude could lead to prices snapping back up quickly once that thought changes to “Everyone is suddenly buying and I don’t want to miss out!” It’s always been much easier to say “buy low, sell high” than it has actually been to execute it, and this could be a perfect example of that.

Advice for Buyers & Sellers

This fall and winter might be an opportune time to buy a first home, an investment property, or move up in property type and value before we see the activity pick up and you are forced to make a rushed decision.

Once again, if you are looking to just sell, or sell and downsize, waiting might be the better move if you have an indefinite amount of time before you need to move. We can bet that we will see market activity and prices increase sometime soon; the only problem is that we just don’t know when “soon” is. With that in mind, if you do need to sell for a particular reason, waiting may be lucrative if you can wait long enough, but we are currently seeing prices decrease, so it would make more sense to sell sooner than waiting a few months and having to sell then.

Conclusion

Overall, while the market is considerably slower than it typically is, it still can be a great time to make a move depending on your situation. Like always, reach out if you have any sort of plans on making a move happen in the next couple of years. It is never too early to start making a plan for your unique situation.