Is the real estate market finally slowing down or just taking a breather? 

If you're wondering whether now’s the right time to buy, sell, or wait, you're not alone. With mortgage rates holding steady and more homes coming onto the market, here’s what the most recent data tells us. 

1. Home Prices Have Softened, but Not Dramatically 

Home prices in the Fraser Valley have come down a little—but it’s not a crash. 

• The average price for all home types in June was $951,500, down 1.2% from the previous month (FVREB, 2025a). 

• Detached homes averaged $1,458,600, which is 1.6% lower than in May and 4.6% lower than a year ago (FVREB, 2025a). 

• Townhomes were at $824,400, down 1.0% from May and 3.1% from last year (FVREB, 2025a). 

• Condos and apartments came in at $526,500, which is a 1.2% monthly drop and 4.5% less than last June (FVREB, 2025a). 

The takeaway? Prices are gradually easing, but we’re not seeing anything close to a dramatic drop.  

2. Why Prices Are Slowing Down 

a. More homes are for sale 

 There were 10,842 active listings in June—2% more than in May, and a big jump of 30% compared to June of last year (FVREB, 2025a). More listings mean buyers have more options and sellers have to be more competitive. 

b. Fewer homes are selling 

Only 1,195 homes sold in June, which is 9% less than last June, and 33% below the typical number of June sales over the last decade (FVREB, 2025b). 

c. Buyers are in the driver’s seat 

 The sales-to-active listings ratio—which shows how many listings are actually selling—was around 11%. That puts us in a buyer’s market, where there are more homes for sale than there are buyers (FVREB, 2025a, 2025b). 

d. Homes are taking longer to sell 

• Detached homes took about 35 days to sell 

• Townhomes took 30 days 

• Condos took 39 days (FVREB, 2025a) 

This is a big shift from the busy years when many homes sold within a week.  

3. Mortgage Rates Are Still High 

Even though the Bank of Canada has stopped raising interest rates, getting a mortgage is still expensive. 

• Five-year fixed mortgage rates are hovering between 4.25% and 4.50%. 

• Variable rates are around 4.0% (Ogmundson, 2025). 

• Experts at BCREA expect only a small drop—around 0.15 to 0.20%—by the end of the year (Ogmundson, 2025). 

That’s still a lot higher than the below-3% mortgage rates we saw during the peak of the pandemic housing boom. And that’s why some buyers are holding off—because higher rates mean higher monthly payments. 

 4. What Could Happen for the Rest of 2025? 

We're not expecting a crash—but don’t expect prices to bounce back quickly either. 

• Detached homes in popular areas like Langley and Mission might dip a bit more if borrowing stays expensive and listings continue to rise. 

• Townhomes and condos, especially in more affordable cities like Abbotsford and Chilliwack, will likely stay fairly steady thanks to continued demand from first-time buyers and investors. 

If the Bank of Canada lowers interest rates later this year—as many expect—more buyers may come back, which could give the market a bit of a boost. 

 5. What This Means for You 

Thinking about buying? 

• You’ve got more choices and more negotiating power. 

• Mission and Chilliwack are two areas where prices are softer and value is stronger. 

• If you're waiting for rates to drop, keep in mind that prices may start to rise again once they do. 

Thinking about selling? 

• You can still sell successfully—but you need to price your home realistically. 

• Homes that are clean, staged nicely, and offer extra perks (like a view, suite, or good location) are still getting interest. 

• Overpriced homes? They’re sitting longer. 

 Conclusion: It’s Not a Crash—It’s a Reset 

The Fraser Valley real estate market is adjusting to more normal conditions after a few wild years. It’s not crashing—it’s settling. 

Buyers now have more room to breathe and time to shop. 

Sellers can still do well—with the right strategy. 

 References 

Fraser Valley Real Estate Board (FVREB). (2025a). Statistics Package – June 2025. Fraser Valley Real Estate Board. https://www.fvreb.bc.ca/statistics/Package202506.pdf 

Fraser Valley Real Estate Board (FVREB). (2025b, July 3). Buying opportunities remain untapped in Fraser Valley real estate market [Press release]. GlobeNewswire. https://www.globenewswire.com/news-release/2025/07/03/3109850/0/en/Buying-opportunities-remain-untapped-in-Fraser-Valley-real-estate-market.html 

Ogmundson, B. (2025, June 19). Mortgage Rate Forecast. British Columbia Real Estate Association. https://www.bcrea.bc.ca/economics/mortgage-rate-forecast/ 

Thinking about making the Fraser Valley your new home? Or maybe you're lucky enough to already live here and just want to make the most of this beautiful season. Either way, summer in the Fraser Valley is filled with opportunities to explore vibrant communities, enjoy nature, and take part in local traditions that make this region such a special place to live.

From lakeside paddles and farm markets to outdoor movies and music festivals, here are 10 must-do summer activities and events to experience the best of the Fraser Valley lifestyle.

1. Mission Twilight Concert Series

📅 Wednesdays, July 2 – Aug 27, 2025 | 🕖 7 PM

📍 Fraser River Heritage Park, Mission | 🎟️ Free

Each week, this scenic park becomes a concert venue featuring local and touring musicians across genres—jazz, blues, indie, and more. Bring your lawn chair, blanket, and picnic basket for a relaxing summer night under the stars.

2. Reclaiming Youth Powwow

📅 July 11–13, 2025

📍 St. Mary’s Residential School Grounds, Mission | 🎟️ Free

Hosted by Indigenous youth leaders, this annual powwow honours tradition and healing with competitive dancing, drumming circles, and cultural teachings. Open to all community members to witness and celebrate Indigenous resilience.

3. Ride the Cyclone – The Musical

📅 July 10–12, 2025, nightly at 7:30 PM

📍 Clarke Foundation Theatre, Mission

This offbeat, high-energy musical follows six teens who die in a rollercoaster accident and compete for a second chance at life. Known for its witty dialogue and emotional depth, it’s a standout summer theatre production.

4. Fraser Valley Pride Festival

📅 July 19, 2025, 12–5 PM

📍 Fraser River Heritage Park, Mission | 🎟️ Free

A welcoming celebration of LGBTQ2S+ identity and allyship, featuring drag shows, live music, youth spaces, artisan vendors, and food trucks. Come for the love, stay for the dancing!

5. Mission Folk Music Festival

📅 July 25–27, 2025

📍 Fraser River Heritage Park, Mission

One of BC’s most cherished folk festivals, this 3-day event brings together global musicians, family zones, artisan booths, food trucks, and workshops in a forested park setting. It’s as much a cultural experience as a musical one.

6. Mission Coffee House Concert Series

📅 July 25–27, 2025 (evenings during Folk Fest)

📍 Clarke Theatre Cafetorium & Heritage Park, Mission

Perfect for those seeking a more intimate vibe, this side-series features acoustic sets by emerging artists and festival guests. Grab a coffee, find a cozy seat, and enjoy an unplugged evening of music.

7. Jam in Jubilee – Abbotsford

📅 Thursdays, July 3, 10, 17, 24, 31, 7–10 PM

📍 Jubilee Park, Abbotsford | 🎟️ Free

This open-air concert series combines live indie and experimental music with an artisan market, youth art installations, and local food trucks. It’s where the creative scene in Abbotsford truly comes alive.

8. Abbotsford Agrifair

📅 August 1–3, 2025

📍 Exhibition Park, Abbotsford

A classic summer tradition with carnival rides, 4-H animal shows, food vendors, live performances, a demolition derby, and more. Ideal for families and anyone craving that nostalgic midway vibe.

9. Fraser Valley Ale & Cider Trail

📅 Ongoing – All Summer

📍 Across Abbotsford, Chilliwack, and Langley

Taste your way through award-winning breweries and cideries like Field House, Old Yale, and Fraser Valley Cider Co. Many stops include patio dining, food trucks, and live music—perfect for a self-guided weekend outing.

10. Outdoor Movies in the Park – Langley Township

📅 Fridays, July 3 – August 31, 2025

📍 Various parks across Langley Township | 🎟️ Free

Family-friendly screenings of films like Harry Potter, TMNT: Mutant Mayhem, and Migration under the stars. Arrive early for games, giveaways, and food vendors before the show begins.

Summer in the Fraser Valley isn't just a season, it’s a lifestyle. These events offer a glimpse into what life is really like here: community-oriented, nature-filled, and rich in local culture.

Whether you’re attending a concert in the park, kayaking at sunrise, or meeting neighbours at a pop-up market, you’re experiencing the heart of this region,  not just its housing market.

If you’re thinking of buying, this is the best time to get a feel for the area, and to imagine what your life could look like beyond the front door.

📞 Looking for a home in one of these vibrant communities? Let’s talk.

📧 Mindy@mindymcpherson.com ; 604-826-10000

Feeling overwhelmed by real estate paperwork? You’re not alone.
Whether you're buying or selling in BC, working with a REALTOR® comes with a stack of documents—some mandatory, others helpful, all important. But don’t worry—this isn’t legalese overload. This guide breaks down the most common forms you’ll encounter, what they mean, and why they matter, so you can feel confident at every step of the process.

Let’s take the mystery out of the fine print. 

1. Disclosure of Representation in Trading Services (DORTS)

Before a REALTOR® can give you advice or talk specifics about your finances or real estate goals, they’re required to present you with this form.

The DORTS is a mandatory disclosure document, required under Section 54 of the Real Estate Services Rules, regulated by the BC Financial Services Authority (BCFSA). 

It explains:

• Whether the agent is working for you, the seller, or neither

• What duties the agent owes you (e.g., loyalty, confidentiality)

• That you’re not obligated to work with them just by signing it

This form became especially important after BC banned dual agency in most residential transactions in 2018, to prevent conflicts of interest [2].

Signing the DORTS does not commit you to the agent—it simply confirms they’ve explained your rights.

2. Privacy Notice and Consent (PNC)

This form tells you how your personal information—like your name, contact info, or government-issued ID—will be collected, used, and protected during the transaction.

Under Canadian privacy laws, REALTORS® are required to explain how your data will be:

• Shared with other parties (like lawyers or mortgage brokers)

• Stored (by the agent or brokerage)

• Used for legal and regulatory requirements (e.g., FINTRAC verification)

By signing the PNC, you’re giving permission for this use—and protecting yourself by ensuring your information is handled properly and ethically.

3. Property Disclosure Statement (PDS) – Seller Form

If you're buying a home, your agent may provide you with a Property Disclosure Statement, which is voluntarily completed by the seller.

It asks the seller to answer yes/no questions about:

• Past water damage or flooding

• Renovations and permits

• Structural or pest issues

• Known disputes or legal claims

The PDS isn’t legally required, but it's a helpful tool that gives buyers insight into the home’s condition—and can signal red flags worth investigating further.

Always pair a PDS with a professional home inspection.

4. Listing Contract – For Sellers

If you’re listing your home, you’ll sign a Listing Contract with your REALTOR®. This is a legal agreement that gives your agent the right to market and sell your home.

It outlines:

• Your listing price and property details

• The agent’s commission and how it’s shared

• How long they’ll represent you

• Your responsibilities as a seller (access for showings, accurate info, etc.)

• Your agent’s duties (marketing, negotiation, legal guidance)

• Whether your home will be listed on the MLS®

This contract is essential for formalizing the relationship and ensuring both sides know what to expect.

5. Material Latent Defect (MLD) Disclosure

Unlike the PDS, disclosing material latent defects is legally required.

A material latent defect is a hidden issue that:

• Can’t be discovered by a reasonable inspection, and

• Makes the property dangerous or unfit for use, or

• Significantly affects the home’s value or function

Examples include:

• Foundation damage behind finished walls

• Mould inside insulation or ventilation

• A history of basement flooding

• Structural issues hidden by staging

If the seller knows about such an issue and fails to disclose it, they can face:

• Cancellation of the sale

• Legal action for damages

• Professional consequences for their agent

Buyers should always ask questions, review available documents, and rely on inspections to complement any disclosures.

**The information provided in this blog post is for general informational purposes only and does not constitute legal or professional advice. While every effort has been made to ensure the accuracy and reliability of the content at the time of writing, laws, regulations, and real estate practices in British Columbia may change over time. Readers are encouraged to consult with a licensed real estate professional, lawyer, or the BC Financial Services Authority (BCFSA) for specific guidance relevant to their individual situation. The author and affiliated REALTOR® or brokerage assume no liability for any loss or damages arising from reliance on this information.