Fraser Valley’s decade-high inventory could open doors for buyers

February 4, 2025

SURREY, BC — Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the combination of stable prices and abundant selection presents potential opportunities for buyers to get back into the market.

The sales-to-active listings ratio appears to bear this out. At 11 per cent, the overall ratio is signaling a buyer’s market, with detached homes firmly in buyer’s market territory. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

It took longer to sell homes in January compared to December. Across the Fraser Valley, the average number of days to sell a single-family detached home was 52, while for a condo it was 42. Townhomes took, on average, 38 days to sell. 

“The market appears to be in a holding pattern at the moment,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “There is no doubt that economic uncertainty is playing a role, especially the spectre of a trade war, which could lead to even more rate cuts by the Bank of Canada. The confluence of these conditions could provide unique buying opportunities, but we urge buyers and sellers to work with a REALTOR® to ensure they align with financial objectives.”

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark price down 0.03 per cent to $964,800.

MLS® HPI Benchmark Price Activity

Detached Homes: 

At $1,482,400, the Benchmark price for an FVREB single-family detached home increased 0.1 per cent compared to December 2024 and increased 0.6 per cent compared to January 2024.

Townhomes:  

At $826,000, the Benchmark price for an FVREB townhome decreased 0.2 per cent compared to December 2024 and decreased 0.2 per cent compared to January 2024.

Apartments:   

At $534,600, the Benchmark price for an FVREB apartment/condo increased 0.1 per cent compared to December 2024 and decreased 1.2 per cent compared to January 2024.

To view the complete package: 

 
           

Selling a  

'Diamond in

 the Rough'

Selling a fixer-upper property can be challenging, but the process can be made a lot smoother by making some smart decisions:  

•Hire a REALTOR® with a proven track record of selling fixer-uppers. You need a REALTOR® who knows how to market your property to potential buyers. When interviewing agents, ask for past examples of fixer-upper sales. 

•Decide if it’s worthwhile financially and timewise, to repair or renovate before selling.

•Determine if you will sell it “as-is.” Doing so will limit liability for issues, such as broken appliances, mould, pest issues, etc. 

•If it’s not going to be a complete gut job, have it professionally cleaned. 

•Price it right. Check out what recent fixer-uppers in your area have sold for and determine the lowest price you will accept.

•Be sure to market to builders and contractors. Focus on the potential and selling points (e.g., layout, desirable location, original wood), be transparent about any issues to avoid liability, consider mentioning cost estimates for renovations, and try to time your selling  with when the weather is more agreeable  for renovations. 

Selling a fixer-upper might take longer than your average property sale, but with some patience, optimism, and a solid strategy it can be done. 

Call or email today  for any questions you may have: 

604-309-5453  or email: bonetti@telus.net





 
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Parting With Sentimental Clutter

It’s a new year, so what better time to practice the art of letting go of your sentimental clutter, to clear your space and mind? Letting go of sentimental clutter can be challenging, so for some tips on making it easier, keep reading.

Ease into it by starting with a small, non-sentimental, decluttering task, such as weeding out a junk drawer, or getting rid of kitchen duplicates, expired products, or items that don’t work anymore. 

As you move on to decluttering everywhere, set aside all your sentimental items.

Next, categorize your sentimental items into four boxes: 

(1) keep,              (2) donate/sell, 

(3) toss, and       (4) undecided (schedule a date to revisit them). 

When making these decisions ask yourself: does this item bring up pleasant memories, do I have space to keep or display it, and would this be appreciated more by someone else?  

To get rid of as much clutter as possible, separate the item from the memory by taking a photo of the item or writing about the memories associated with it. This can help you preserve the memory while freeing up space. If you have multiple items associated with the same memory, consider keeping just one of them. 

Let go of guilt. Be honest with yourself.  Is the item sentimental, or you are just keeping it because you don’t want to offend whoever gave it to you? Maybe it’s a family heirloom that isn’t part of your memories. And for those items you truly can’t part with, instead of creating clutter, showcase them by displaying them on a bookshelf or gallery wall.  

While it can be difficult to part ways with items that hold special memories, the sense of loss can be replaced with pride in knowing that someone else can appreciate it and give it a new lease on life.












Freeze the Stress: Winter Moving Tips

Getting ready to move this winter? While it may not be as easy a move as in other seasons, with a little preparation you can accomplish a move that goes off without a hitch. 

For some helpful tips, read on. 

  • Be prepared to be flexible– Check the weather in the days leading up to your move. If a storm is forecasted for your moving day, consider rescheduling your move date. Get any pre-move errands completed in advance of your move, so you don’t get stuck trying to accomplish them in bad weather at the last minute. 

  • Prepare both homes for winter moving– Ensure both your old and new homes have clear, wide paths for moving, plastic sheeting to protect floors, and if it will be dark during any part of your move, check that the exterior lighting works, and consider headlamps. 

  • Protect belongings–Temperature changes from the warmth of your home to the cold of the moving truck can cause items like glass to break and electronics to malfunction, so secure these items according to the manufacturer’s instructions and have them loaded onto the truck last or transport them in your own vehicle to keep a closer eye on them.  

  • Organize utilities– Schedule utility hook-up at your new home before you move so you aren’t stuck without the ability to control indoor temperatures in the height of winter. 

  • Prepare your vehicle– Especially if you are making a long-distance move, make sure your vehicle has been serviced recently and is stocked with gas, washer fluid, first aid and emergency kits, and blankets. 

  • Show your movers some appreciation– A warm drink and something to eat for your movers will be a nice gesture to show you care.

Don’t let Mother Nature make moving more stressful than it needs to be, and plan ahead if you have a winter move coming up.

Recent Blog Entries

Fraser Valley Housing Statistics for January 2025- Buyer Opportunity ?

(Feb 05, 2025)

Just Listed- 5 ACRES with amazing mountain views in Aldergrove !!

(Jan 29, 2025)

Bank of Canada lowers key interest rate to 3%

(Jan 29, 2025)



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Saturday, February 22nd, 1-4pm





  



REAL ESTATE NEWS
                    
 
                      January 29, 2025

The Bank of Canada lowers key interest to 3.0%

  
The Bank of Canada reduced its key interest rate to 3%, citing concerns over ongoing trade uncertainties, particularly regarding a potential threat from the United States to impose blanket tariffs of Canadian goods. 
The central bank emphasized that such tariffs would "test" Canada's economic resilience, and the outlook for the economy has become more uncertain due to the looming trade dispute.

“The potential for a trade conflict triggered by new U.S. tariffs on Canadian exports is a major uncertainty. This could be very disruptive to the Canadian economy and is clouding the economic outlook,” said Bank of Canada governor Tiff Macklem, “A long-lasting and broad-based trade conflict would badly hurt economic activity in Canada. At the same time, the higher cost of imported goods will put direct upward pressure on inflation.”

The Bank of Canada noting that inflation has been close to the 2% target since last summer showing monetary policy has worked to restore price stability. The lower interest rates are also boosting household spending and economic activity is picking up.

Further from Macklem, "As we consider our monetary policy response, we will need to carefully assess the downward pressure on inflation from weakness in the economy, and weigh that against the upward pressure on inflation from higher input prices and supply chain disruption.... as always, the bank will be guided by our monetary policy framework and our commitment to maintain price stability over time".


The Bank of Canada's next interest rate decision of the year comes on
March 12, 2025


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For any questions you may have on the latest news and how it effects you, give us a call at 604-309-5453















Get to Know...

Joanne Bonetti


Joanne's formal education and training allows her to excel at every step of the real estate selling or buying process.

Joanne has always lived in the Langley area  and is very knowledgeable of the Fraser Valley market.

Choosing a Real Estate Career over 15 years ago, she has seen the many changes this industry has had. Following the trends and staying informed is crucial to this business. 

Outside of her career in real estate, Joanne enjoys an active lifestyle with crossfit, neighbourhood walks and spending time with family and friends.  

Known by clients and colleagues for her honesty, dedication and reliability, Joanne also has a reputation for timely and focused responses to each of her client’s needs and concerns. She is a skilled negotiator and goes the extra mile for her clients. Always included is quality after-care from start to finish.

A Full-time Realtor who is committed to providing expertise tailored to your needs and learning what is important to you to reach your real estate goals, Joanne is a clear choice for anyone thinking of buying or selling their home.

A big Thank you to all her clients, friends, and family for their continued support.






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