Home sales hit 10-year low in the Fraser Valley

The composite benchmark home price in the Fraser Valley ended the year at $965,000, down 2% year-over-year and 4% from its March 2024 peak. December saw 994 sales, a 13% decline from November, with new listings dropping 46%, leading to a 23% decrease in overall inventory. The sales-to-active listings ratio was 16%, indicating a balanced market. Townhomes and condos took longer to sell, while single-family homes remained stable. The benchmark price for single-family homes was $1,480,400, with townhouses at $827,900 and apartments at $534,000.