First-Time Home Buyer Guide: Fraser Valley Real Estate July 2025

1. Why Fraser Valley Appeals to First-Time Buyers

The Fraser Valley remains a top choice for first-time home buyers thanks to its more reasonable pricing compared to Metro Vancouver, while still offering access to good schools, transit, and family-oriented communities. Cities like Abbotsford, Langley, Mission, and Chilliwack deliver a mix of condos, townhomes, and detached homes suited to various budgets.

2. July 2025 Market Snapshot: FVREB Insights

The latest data from the Fraser Valley Real Estate Board paints a clear picture of the current market—here’s what first-time buyers should know:

• Sales activity: 1,190 homes sold in July 2025—slightly down 0.5% from June and 3% from July 2024. Sales sit 23% below the 10-year average Fraser Valley Real Estate Boardvancouverhomesearch.com.

• Inventory: Active listings were 10,650—nearly 50% above the 10-year seasonal average, with new listings at 3,453 (a 5% drop from June) Fraser Valley Real Estate Boardvancouverhomesearch.com.

• Market balance: The sales-to-active listings ratio stands at just 11%, signaling a strong buyer’s market (a balanced market typically ranges between 12–20%) Fraser Valley Real Estate Boardvancouverhomesearch.com.

• Time on market: Detached homes and condos averaged 38 days to sell, while townhomes sold faster at 35 days Fraser Valley Real Estate Boardvancouverhomesearch.com.

• Benchmark Prices:

  • Composite: $944,800 (down 0.7% from June)

  • Detached Homes: $1,451,100 (down 0.5% MoM; down 5.1% YoY)

  • Townhomes: $814,900 (down 1.2% MoM; down 4.0% YoY)

  • Apartments/Condos: $519,300 (down 1.4% MoM; down 5.8% YoY) Fraser Valley Real Estate Boardvancouverhomesearch.com.

What This Means: First-time buyers are entering a favorable market—plenty of inventory, softer prices, and more leverage to negotiate.

3. Frequently Asked Question: How Much Down Payment Do First-Time Buyers Need in BC?

Answer:

In British Columbia (and Canada broadly), here's how down payment requirements work:

• Under $500,000 purchase price: Minimum down payment is 5%.

• Between $500,000 and $999,999: 5% applies to the first $500K, and 10% on the portion above.

• $1 million or more: Minimum of 20% down payment.

So, for a $814,900 townhome in Fraser Valley:

• 5% of first $500K = $25,000

• 10% of remaining $314,900 = $31,490

• Total minimum down payment = $56,490

For a $519,300 condo:

• Entire amount qualifies at 5% = $25,965

For a $1.45M detached home:

• Requires a straight 20% down payment, which is $290,220.

These thresholds are essential to budget realistically and plan financing effectively.

There are a number of programs and resources that can first first-time home buyers outside of just a break on GST, call me today for more information!

4. Why Now Is a Great Time for First-Time Buyers

Final Thoughts

For first-time buyers in the Fraser Valley, July 2025 delivered a notable shift: more available listings, steady-to-declining prices, and a buyer-friendly climate. Whether you're eyeing a condo, townhome, or detached home, working with a skilled REALTOR® can help you navigate down payments, incentives, and find the right fit.

Need breakdowns by town (Abbotsford vs. Langley vs. Mission), school catchments, or mortgage simulations? I’d be happy to build those next—I’ve got your back as you take the big first step into home ownership!

Call me today to more details on your dream home in your dream neighbourhood!