BLOG

The Fraser Valley buyer's market is becoming more apparent as homebuyers gain more leverage. For the first time in months, buyers are benefiting from a larger selection of homes and softening prices. This shift is providing greater opportunities for those looking to purchase in the Fraser Valley. Here's everything you need to know.

Fraser Valley Sales Numbers Show Buyer Advantage

In February 2025, the Fraser Valley saw 920 home sales, which is a 13% increase from January. However, it’s still 26% below the number of sales from the same month last year. Despite this drop, the trend is moving toward a buyer's market.

More Homes Available for Buyers

The number of new listings in February fell by 9%, but new listings still remained 14% above the 10-year seasonal average, at 3,121 homes. Total active listings in the region stood at 8,070, which is 45% higher than in February 2024. More inventory means that buyers have a larger selection to choose from.

Fraser Valley is a Clear Buyer’s Market

With the sales-to-active listings ratio at just 11%, the Fraser Valley is firmly in a buyer’s market. A typical balanced market would see a ratio between 12% and 20%. This lower ratio signals that buyers have more room to negotiate, giving them more power in the market.

Homes Taking Longer to Sell in the Fraser Valley

Homes are taking longer to sell, which is another sign that buyers have more time to make decisions. Single-family detached homes averaged 39 days on the market in February. Condos took 36 days, while townhomes took 32 days. This extra time gives buyers more flexibility.

Price Adjustments in Fraser Valley

The overall price in the Fraser Valley dropped slightly in February. The benchmark price for homes fell by 0.2%, now sitting at $962,500. Prices in specific categories saw minor changes:

• Single-family homes: $1,489,100 (0.5% increase from January)

• Townhomes: $820,600 (0.7% decrease from January)

• Condos: $533,200 (0.3% decrease from January)

What Does This Mean for Buyers?

For those looking to buy a home in the Fraser Valley, now is a good time to explore the market. With more homes available, and prices continuing to soften, buyers can take their time making decisions. The shift to a Fraser Valley buyer’s market provides plenty of opportunities, especially if the current trend continues.

For more details on Fraser Valley real estate, check out the full report from the Fraser Valley Real Estate Board and the latest market data.

B.C. Secondary-Suite Incentive Program Canceled Due to Economic Uncertainty

Homeowners in British Columbia looking to build secondary suites will no longer have access to the B.C. secondary-suite incentive program. The B.C. government has announced that the pilot program will stop accepting applications after March 30, citing "uncertain financial times" as the main reason for its cancellation.

Why Is the B.C. Secondary-Suite Incentive Program Being Canceled?

According to the B.C. government, economic uncertainty and an unpredictable tariff situation with the United States have led to tough financial decisions. Housing Minister Ravi Kahlon stated that the government wants to ensure the best value for housing investments.

Another key factor is the federal government's upcoming program, which will provide similar assistance. The provincial program offered up to $40,000 in forgivable loans to eligible homeowners to cover construction costs for a new suite. In contrast, the federal initiative, once launched, is expected to provide up to $80,000 in low-interest loans. Rather than duplicate efforts, B.C. has decided to step back and let the federal program take over.

What Happens to Existing Applicants?

Homeowners who have already started the application process for the program and have the necessary permits and cost estimates can still submit their applications before the deadline. However, new applicants will not be accepted after March 30.

What This Means for Homeowners

For those planning to build secondary suites, the cancellation of the B.C. secondary-suite incentive program may be disappointing. However, the federal government's upcoming program could offer an alternative. Homeowners interested in financial support for secondary-suite construction should stay updated on federal announcements.

Learn More

For more details on the cancellation and upcoming federal initiatives, visit:

• Government of British Columbia Housing Updates

• Canada Mortgage and Housing Corporation (CMHC)

As housing affordability remains a priority, homeowners should explore other provincial and federal programs that may support their secondary-suite projects.

The value of Canadian farmland values in 2024 continued its steady rise, with an average increase of 9.3% nationwide. While this marks a slower pace than 2023, it still surpasses the five-year (8.6%) and ten-year (9.1%) averages. Various factors, including land demand, interest rates, and agricultural profitability, have contributed to these shifts. Below, we break down key trends and influencing factors.

Provincial Trends in Canadian Farmland Values 2024

Between January 1 and December 31, 2024, the highest increase in occurred in Saskatchewan, up by 13.1%, followed by British Columbia (11.3%) and New Brunswick (9.0%). Other provinces experienced growth below the national average.

It is essential to note that Saskatchewan, home to the largest cultivated farmland area, significantly impacts the national average. Alberta and Manitoba are the second and third largest contributors, respectively.

Key Factors Affecting Farmland Values in 2024

Several factors influence the continued increase in farmland values in 2024:

• Farm Profitability: Higher net margins in agriculture often lead to greater willingness to purchase land. The 2018-2020 period saw the smallest increases in farmland values, coinciding with lower farm profitability.

• Interest Rates: The Bank of Canada began cutting rates in June 2024, reducing borrowing costs. However, rates remain relatively high compared to previous years, impacting purchasing decisions.

• Supply and Demand: A limited supply of farmland and ongoing demand from investors and farming operations contributed to rising values.

Irrigated and Pastureland Values

Irrigated land values in Western Canada increased across all regions. In 2024, Saskatchewan led with a 25.8% increase, followed by Alberta (8.6%) and British Columbia (4.4%). Irrigated land remains in high demand, particularly in drier Prairie regions, where projects like the Westside Irrigation Rehabilitation Project aim to support water access for agriculture.

Pastureland values, however, grew at a slower rate than in 2023. British Columbia saw a modest 1.1% increase, while Alberta recorded a 4.6% rise. Manitoba and Saskatchewan posted 8.6% and 8.9% growth, respectively. While cattle receipts increased by 11.4% in 2024, this was lower than previous years, affecting profitability in the sector and moderating land value growth.

Looking Ahead to 2025: What’s Next for Farmland Values?

The outlook for 2025 remains uncertain, with potential trade disruptions at the U.S.-Canada border posing risks for agricultural operations. Additionally, farmland values in 2024 have reached record highs relative to farm income, making future purchasing decisions more cautious.

Despite these challenges, technological advancements, economies of scale, and operational efficiencies continue to drive long-term growth in the agricultural sector. Farmers and investors alike should stay informed and prepared for evolving market conditions.

Welcome to Resort-Style Living at Waterstone!

If you're looking for a luxury condo for sale in Clayton, this Waterstone condo for sale is an incredible opportunity. Located at 105 6490 194 Street, Cloverdale, this 1-bedroom + den, 1-bathroom ground-floor unit offers privacy, modern design, and world-class amenities. With west-facing sunsets, a spacious private yard, and direct street access, this home is perfect for those who love convenience and outdoor living.

A Modern & Functional Home

Step inside this Waterstone condo for sale and experience stylish and functional living:

• Open-concept layout with bright living spaces and large windows.

• Chef’s kitchen featuring granite countertops, stainless steel appliances, and ample storage.

• Spacious covered deck and private yard with gate access – ideal for BBQs and entertaining.

• Den/Office space providing flexibility for remote work or a guest area.

• In-suite laundry and ample closet space for ultimate convenience.

• Includes 1 parking stall and 1 storage locker.

Resort-Style Amenities at Waterstone

This condo comes with access to over 15,000 sq. ft. of premium amenities, including:

• Indoor pool, hot tub, and sauna for ultimate relaxation.

• Fully equipped fitness center to maintain an active lifestyle.

• Fireside Lounge – perfect for gatherings and socializing.

• Theatre room for movie nights with friends and family.

• EV charging stations for eco-conscious homeowners.

Prime Clayton Location – Close to Everything!

One of the best features of this Waterstone condo for sale is its excellent location. You’ll be near:

• Willowbrook Shopping Centre – A top shopping destination with fashion stores, restaurants, and services.

• Katzie Elementary School – A highly rated school just minutes away.

• Clayton Community Centre – A modern facility offering a library, fitness center, and art spaces.

• Upcoming SkyTrain Expansion – Future SkyTrain access will add even more value to this location!

Pet & Rental Friendly – Ideal for Homeowners and Investors

This condo is pet-friendly (2 pets allowed, max weight of 44 lbs) and rental-friendly, making it a perfect option for both homeowners and investors. With high rental demand in Clayton, this property offers excellent investment potential.

Book a Viewing of This Waterstone Condo for Sale!

Don’t miss this chance to own a stunning Waterstone condo for sale. For more details or to schedule a private showing, contact Jared Gibbons, your trusted real estate agent.

📞 Call or text Jared Gibbons today!

Condo Sold in Port Coquitlam – Prime Downtown Location!

This beautifully designed 1,118 sq. ft. condo has officially found its new owner! Located in a fully rainscreened building, this home provided an unbeatable combination of location, style, and functionality. Steps away from the West Coast Express, PoCo Community Centre, shopping, dining, and green spaces, this condo sold in Port Coquitlam offered the ultimate in convenience and urban living.

Condo Sold in Port Coquitlam – Modern Living & High-Quality Finishes

This condo featured a contemporary interior with laminate flooring throughout and a cozy gas fireplace in the living room. The well-appointed kitchen boasted dark wood cabinets, Arborite countertops, stainless steel appliances, and vinyl flooring, making it a dream for home chefs. The oversized primary bedroom included a walk-in closet and a private ensuite, ensuring maximum comfort. Additionally, the home offered a second spacious bedroom and a beautifully updated guest bathroom.

Top-Tier Amenities & Convenient Location

With in-suite laundry, extra storage space, and two secure parking spots, this condo sold in Port Coquitlam was designed for practical living. Its prime location made it easy to access top-rated amenities, including:

• Gates Park – A beautiful park with walking trails, sports fields, and a playground

• Coquitlam Centre – A premier shopping destination with top retail stores

• West Coast Express – Quick and easy transit access to downtown Vancouver

• Riverside Secondary School – A top educational institution nearby

• PoCo Community Centre – Featuring fitness facilities, pools, and sports programs

Need a Similar Home? Contact Jared Gibbons!

If you’re looking for a condo in Port Coquitlam or need an experienced real estate agent to guide you through the buying or selling process, contact Jared Gibbons today. With over 10 years of experience, Jared specializes in helping clients find their ideal home in Port Coquitlam and beyond.