Fraser Valley Real Estate News

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6th Mar 2025

Buyers Have an Advantage in the Fraser Valley

In February, Fraser Valley home sales increased by 13% from January, marking an end to a four-month decline, though still 26% lower than February 2024 levels. Despite a 9% drop in new listings, the inventory is 14% above the 10-year seasonal average. A 11% sales-to-active listings ratio signals a buyers' market.

Read the full report by FVREB.

13th Feb 2025

MVRD Considers More DCC Protection for In-Stream Projects

The Metro Vancouver Regional District is proposing to extend the in-stream protection period for development cost charges (DCCs) from 12 months to 18 or 24 months. This move could forgo up to $220 million in DCC revenue. However, the purpose of this change is to secure $250 million from the Canada Housing Infrastructure Fund.

Read the full story by Storeys.

5th Feb 2025

Supply Outpaces Demand in Metro Vancouver Markets

In January, Greater Vancouver's housing market saw a 46.9% surge in new listings compared to a year before. Sales increased by 8.8% year-over-year to 1,552. Fraser Valley’s inventory hit a 10-year high, 54% above the 10-year average. The Greater Vancouver market remains in a balanced market, while Fraser Valley's slower sales signal a buyer's market.

Read the full report by GVR and FVREB.

4th Feb 2025

Metro Vancouver’s Population Surpasses 3 Million

Metro Vancouver's population has surpassed 3 million, with growth mainly in suburbs like Surrey and Langley. Surrey remains a primary destination for newcomers and could surpass Vancouver’s population by 2027. This prompts calls for improved regional infrastructure planning, despite the Canada's reduction in immigration targets.

Read the full story by CBC.

2nd Feb 2025

Metro Vancouver Considers DCC Waivers to Boost Supply

Metro Vancouver is considering waiving DCCs for below-market rental units built by private developers and transferred to non-profits upon completion. This could reduce break-even rents by 4-4.4% and increase below-market rental supply by about 281-361 units annually. Forgone DCC revenue is estimated at $5.4-7 million yearly.

Read the full story by BIV.

24th Jan 2025

125 Metro Vancouver Projects Expected to Launch in 2025

MLA Canada forecasts continued challenges in Metro Vancouver's presale real estate market, including investor scarcity and ongoing buyer uncertainty from 2024. Among the 125 projected launches, smaller-scale projects are expected to perform better due to affordability. Resale market improvements are essential for presale growth.

Read the full story by Storeys.

As a legal practitioner with a busy practice, Real Estate Recap provides me with an insightful and quick update on the current real estate happenings in Canada. Not only is the information helpful for my personal use, it goes a long way in dealing with relevant legal issues for clients.

Real Estate Recap is a fantastic resource! It’s packed with useful information about market trends and provides educating insights that help readers understand the real estate market better. The practical tips and clear explanations make it a must-read for anyone looking to stay informed and learn more about the real esate market!

Staying on top of real estate news can be hard, but thanks to RealEstateRecap, I don’t miss a beat. Their updates are informative, and make it easy to stay in the know. Great Newsletter, Thank you

Very informative newsletter! It is now my go to source for all real estate news.

Great newsletter! Very insightful and it provides all the key points without being a long, tedious read. Very well done!

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