📊 May 2025 Real Estate Market Update: Surrey & Fraser Valley

📊 May 2025 Real Estate Market Update: Surrey & Fraser Valley

The Fraser Valley housing market showed signs of renewed activity in May 2025, offering both opportunities and challenges for buyers and sellers in Surrey and surrounding areas.

🏡 Market Overview

After a subdued April, May witnessed a modest uptick in home sales across the Fraser Valley. The Fraser Valley Real Estate Board (FVREB) reported 1,183 sales on its Multiple Listing Service® (MLS®) in May, marking a 13% increase from April. However, this figure still represents a 22% decrease compared to May 2024 and is 36% below the 10-year seasonal average. bchb.ca+9vancouverhomesearch.com+9fvreb.bc.ca+9

In Surrey specifically, the market reflected similar trends. According to Houseful.ca, the median list price of homes in Surrey was $1,285,050 in May, up 1.74% from April. The average number of days a home spent on the market increased to 43 days, up from 38 days in April. honestdoor.com+1en.wikipedia.org+1houseful.cavancouverhomesearch.com+1houseful.ca+1

📈 Inventory and Pricing

Inventory levels continued to rise, providing buyers with more options. The FVREB noted that active listings in the Fraser Valley reached 10,626 in May, a 6% increase from April and a significant 34% rise compared to May 2024. This surge in listings is 54% above the 10-year seasonal average. agentmarket.cafvreb.bc.ca+9vancouverhomesearch.com+9members.gvrealtors.ca+9

Benchmark prices experienced slight declines across various property types:archibaldrealestate.ca+1agentmarket.ca+1

  • Single-Family Detached Homes: $1,481,900 (down 1.6% from April and 3.2% from May 2024)

  • Townhomes: $832,800 (down 0.03% from April and 2.5% from May 2024)

  • Apartments: $532,700 (down 0.9% from April and 4.0% from May 2024)vancouverhomesearch.com+1vancouverhomesearch.com+1


📊 Market Dynamics

The sales-to-active listings ratio in the Fraser Valley stood at 11% in May, indicating a buyer's market (a balanced market ranges between 12% and 20%). This suggests that while buyers have more choices, sellers may need to adjust pricing expectations to attract offers. gvrealtors.ca+5vancouverhomesearch.com+5storeys.com+5members.gvrealtors.ca+3vancouverhomesearch.com+3vancouverhomesearch.com+3

In Surrey, the housing market showed a slight increase in median list prices, but homes are taking longer to sell, reflecting cautious buyer sentiment. The median days on market increased by 13.16% month-over-month. houseful.ca

🔍 Looking Ahead

With inventory levels at a decade high and sales activity still below historical averages, the market continues to favor buyers. However, the modest increase in sales from April to May could indicate the beginning of a market rebound. Sellers should remain flexible with pricing, while buyers can take advantage of the increased selection and negotiating power.gvrealtors.ca+6agentmarket.ca+6bcprimerealty.com+6

For personalized advice or more detailed information on the Surrey real estate market, feel free to reach out.