October 2025 did see a slight uptick in activity compared to September, but we are still well below the 10-year average for total sales and well above the 10-year average for total inventory. As we head into the winter months, we can likely expect activity levels to drop as they seasonally do.

We have had some positive news since my last newsletter, with two interest rate cuts by the Bank of Canada. This marks the ninth rate decrease since interest rates reached a peak back in 2024. The combination of decreasing interest rates and decreasing prices should be helping activity levels increase, but uncertainty regarding the economy and tariffs seems to be the main reason that Canadians are hesitating to make any large financial decisions like buying or selling a home. Until this uncertainty goes away, or is at least reduced, we will likely see a real estate market that reflects the average Canadian's sentiment on the economy.

As I have said in past newsletters this year, we are in a unique and rare scenario in real estate where both interest rates and prices are decreasing. Typically, home prices will increase as rates decrease, or home prices will decrease if interest rates rise. That is not happening right now, and it is creating a unique opportunity for buyers to get in at much lower prices than they would have if they purchased a couple of years ago. This won't last forever, but hopefully, the change will be gradual when it does happen and activity and prices begin to increase again. We do risk another market of multiple offers and rapidly rising prices if we continue to see below-average activity levels for much longer.

Many would-be buyers are trying to time the market to get in at rock-bottom prices. The problem with this strategy is that we do not know what rock bottom is until after we have passed it. If too many buyers do this, once we see a month or two of increased activity and price increases, there is a chance that all those waiting for rock bottom will jump in at once, causing a very competitive market again. My advice: get in now before things potentially get out of control. Just to clarify, I am not predicting that we will see a chaotic market this spring, but we do have to recognize that it is a possibility. I believe that we will see an increase in activity levels this spring, returning closer to or right up to 10-year average numbers, but I certainly have to caveat that prediction by saying that I thought that would have happened already.

Key Market Statistics

With just 989 residential sales in October 2025, we saw a month-to-month increase (typical for September to October) of 17%, a year-to-year decrease of 16%, and 27% below the 10-year average for October.

Once again, as the trend has been for most of 2025, the low sales numbers have been paired with above-average new listings hitting the market, making the ratio of buyers to sellers even more favorable for buyers. With 2,458 new listings in October, we saw a 14% decrease in new listings compared to September, and for the first time in 2025, 7% fewer new listings this October compared to last year.

Total inventory is of course still quite high with 7,504 homes available for sale by the end of the month. High inventory and low sales, of course, point to a buyer’s market. As we know the laws of supply and demand, it is understandable why home prices have been decreasing.

To further the evidence for a buyer’s market, we had a sales-to-active-listing ratio of only 11% in October 2025. This means that 11 homes out of every 100 listed in the month actually sold.

• Anything below 12% the Fraser Valley Real Estate Board considers a buyer’s market.

• 12–20% is a balanced market.

• Anything above 20% is a seller’s market.

Affordability and Opportunity

As we know, in a buyer’s market, prices tend to decrease, and we have been seeing that. The average home in the Fraser Valley is 5% lower in price than just one year ago, and 9% lower than two years ago in October 2023. This is a significant decrease that is paired with decreasing interest rates, giving us affordability that we have not seen for almost five years. This is very uncommon to see in our market, as price decreases are often short-lived and much smaller than we are seeing now. Once again, I believe this is a great opportunity to get into the market or to upgrade to a larger home.

If you are considering selling and not buying, or selling and downsizing, it may not be the best market to maximize your profits, but the problem with waiting is that we simply do not know how long we will have to wait to see things recover. As I already mentioned, myself and many other experts thought that the recovery would have already happened earlier this year.

If you are planning a move in the near future, be sure to get in touch sooner rather than later. We can start a plan so that you are ready to go when the time is right for you!