August 2025 has wrapped up, and not much has changed from the trend we've been seeing for most of this year. Buyers continue to remain hesitant to jump back into the market, despite increasingly favorable conditions developing right in front of them.

With 834 residential sales recorded in the Fraser Valley in August 2025, we saw a month-to-month decrease of 22% compared to July 2025, a 13% decrease compared to August 2024, and a whopping 37% below the 10-year average for the month. September's numbers are tracking similarly, continuing the pattern of sales activity well below what we would typically expect for this time of year.

The persistently low sales numbers are clear indication that buyers are just not quite ready to jump back into the market yet, despite interest rates coming down and prices softening. From a purely statistical standpoint, we should be seeing more activity, but that is just numbers and charts. What the stats do not indicate is how the average Canadian feels about the economy and their overall financial situation.

New listings continue to come to market at higher-than-average levels. August saw 2,793 new listings, which is up 0.5% compared to August 2024, though down 19% from July (which is fairly typical seasonal behavior). The issue is that with sales so far below average, all these new listings are just adding to an already oversupplied market.

Speaking of oversupply, total inventory finished August at 7,876 active listings, which represents a massive amount of choice for buyers. This inventory level is contributing to what is now clearly a buyer's market, with the sales-to-active-listings ratio sitting at just 9% in August. As we know, anything below 12% is considered a buyer's market, 12-20% is balanced, and above 20% is a seller's market.

If we break this down by property type, detached homes are experiencing the strongest buyer conditions, while condos and townhomes are showing slightly more activity but still well within buyer-favorable territory.

The average number of days to sell tells another story about market conditions. Condos are taking 41 days to sell on average, detached homes are taking 38 days, and townhomes are moving the fastest at 32 days. These are all significantly longer than we would see in a balanced or seller's market.

If you are looking to buy, now may genuinely be one of the best times we've seen in years to do so. You have abundant choice, sellers who are becoming more motivated (especially for properties that have been on the market for a while), and time to make decisions without the pressure of multiple offers. The question isn't whether there might be better opportunities ahead—it's whether you can take advantage of the good opportunities that exist right now.

If you are looking to sell, the reality is that pricing correctly for current market conditions is imperative. Many sellers are still hoping to get prices closer to what we saw a couple of years ago, but that market is simply a thing of the past right now. The sellers who are being realistic about pricing and market conditions are still achieving successful sales.

Overall, it's difficult to say with certainty when buyer sentiment will shift and activity will pick up. What we do know is that there is certainly pent-up demand sitting on the sidelines, and when that demand does return to the market, we could see conditions change quite rapidly. Buying sooner rather than waiting for perfect conditions may save you money if the market takes the turn that many industry experts believe is coming.

Like always, everyone's situation is unique, and with such a complex market, working with a REALTOR® who understands current conditions is more important than ever. If you are considering making a move, let's chat, and we can weigh the options to see whether moving sooner or waiting is the better plan for your situation.

Reach out today if you are thinking of making a move any time soon!