Maple Ridge Market:

September 2025 vs 2024

A bumpy start to fall...

Prices are down, supply remains high, and the number of sales dip.

Looking for an accurate picture of where the real estate market is headed?

  Today we dive in and take a deeper look at the Maple Ridge market as a whole:

• A full overview & an in depth look at detached homes and townhouses. Both focusing on:

1. How statistics stack up to the previous month's activity.
2. Where we are standing compared to the same time period in 2023.
3. Larger market trends.

•••

Maple Ridge Benchmark Price Overview:

1. In 2025 the longest sustained period of benchmark increases was 3 consecutive months.
2. Overall, the year started strong and by late spring the market had fully shifted
1. Townhouses saw their benchmark peak in March. Detached homes saw theirs in April and condos in June.
3. Compared to September 2024 benchmark prices are down between 1.5% & 3.8%.

•••

Overall Supply & Sales Update:

 
Compared to the same time last year supply varies:

• Detached: +3.9%
• Condo: -28.2%
• Townhouse: +16.9%

When September supply is compared to August:

• Detached: 14 less listings than in August
• Condo: 22 less listings than in August
• Townhouse: 1 more listing than in August

Compared September 2024 sales vary. 

• Detached: -25%
• Condo: +27.3%
• Townhomes: -25.7%

When September is compared to August sales have decreased:

• Detached: 22 less sale than August
• Condo: 8 less sales than August
• Townhouse: 2 less sale than August

Overall Sales & Supply At A Glance:

1. Compared to 2024 supply has skyrocketed, and although it may have finally peaked…it does not seem to be in a hurry to return to a manageable level. And if buyers do not return to drive it down to more of a historical norm further price reductions may be in store for the remainder of 2025.
2. Compared to September 2024 sales strength varies...but compared to August 2025 sales have decreased across the board: & for detached homes fairly drastically. The condo market remains the most consistent in terms of sales while both townhouses and detached home saw record low sales in September.

The summer ends with continued high supply, slow sales, & softening prices as the market attempts to sell old stock before starting fresh.

•••

Detached Market Update:

1. For 8 of the last 12 months the benchmark price has fluctuated within a narrow $10,000 window.
2. The September 2025 benchmark for detached homes is now $34,200 below September 2024.
3. In the last 30 days the benchmark only decreased $1,600.
• While the rate of reduction has drastically declined it is the 5^th straight month that the benchmark has trended downwards.
4. In 2025 the benchmark price has only cracked $1,300,000 once. In 2024 it passed 1.3 for 3 months.
5. The benchmark price is now $50,400 below the 2025 peak.
6. November 2023 – January 2024 the benchmark was lower than it is currently. But for 6 months of 2023 the benchmark price outperformed September 2025
7. A supply explosion first started in March and lasted for 4 months ballooning active listings by 184. The increase now accounts for 30% of current active listings. 
• Although supply began to soften slightly in July, and we have now seen 3 months of downward motion, it still far outstrips the level of from February (481) before the increase started. 
8. While the number of sales has fluctuated all year September was the slowest month so far in 2025.
• September was one of the top 3 slowest months for sales since Jan 2020.
• May was the peak for sales in a single month this year. There were 29 more sales in May compared to September

The question now becomes...will oversupply coupled with record low sales push prices lower? Or has the benchmark finally come down enough to restore buyer confidence? 

Detached Home Benchmark Pricing:

1. September: $1,288,000
2. October: $1,287,500
3. November: $1,283,200
4. December: $1,286,800
5. January: $1,272,200
6. February: $1,284,600
7. March: $1,287,800
8. April: $1,304,200
9. May: $1,287,300
10. June: $1,282,700
11. July: $1,266,000
12. August: $1,255,400
13. September: $1,253,800 -lowest since Jan 2024 (20 months)

•••

Townhouse Market Update:

1. Until September the benchmark price had fluctuated in the same $20,000 window for 12 months.
2. The September 2025 benchmark is now $25,700 below September 2024.
• The lowest benchmark since February 2024 (19 months)
• The benchmark is now lower than it was for 7 months of 2023.
3. I the last 30 days the benchmark has decreased $16,400.
• It is now $32,800 below the 2025 peak back in March.
• Since March the benchmark has fluctuated each month with no strong trend.
• However, April & September both mark the largest 30-day shifts in 2025 and they were both downwards.
4. A supply explosion first started in January and lasted for 6 months ballooning active listings by 99. The increase now accounts for 62% of current active listings. 
• Although supply began to soften slightly in July, September is only 8 listings shy of the peak.
•  Before active listings began to exponentially increase supply was at 68 in December of 2024.
• Peak supply for 2024 was 142 in July. Currently we are 17 listings above the 2024 peak.
• Supply only broke 100 once in 2023 and 8 times in 2024. Currently 2025 supply has only dropped below 100 twice and one of those months was 98.
5. While the number of sales has been somewhat steady all year September was the slowest month so far in 2025 and the third consecutive month of decline.  
• September was the slowest month since January 2024. In other words, it was the slowest sales month in 20 months.
• It was one of the top 5 slowest months in the last 2 years and 8 months.
• For 6 months of 2025 monthly sales were fluctuating in the 30s.
• June was the busiest month this year with 38 sales.
• For 5 months of 2024, and 4 months of 2023, there were more than 40 sales.

With supply stubbornly holding sky high and sales trending downwards...what will happen to the benchmark? Will it continue to drop? Or will buyers return to the market? 

Townhouse Benchmark Pricing:

1. September: $786,400
2. October: $768,900
3. November: $774,500
4. December: $777,100
5. January: $785,700
6. February: $789,300
7. March: $793,500
8. April: $781,400
9. May: $784,400
10. June: $773,300
11. July: $773,100
12. August: $777,100
13. September: $760,700

•••

Summary:

Maple Ridge’s real estate market entered fall on uncertain footing. Prices continued to edge lower across most housing types as elevated supply met sluggish sales, signaling a market still working through its excess inventory.

Detached homes remain under the most pressure. September marked the fifth straight month of price declines and the slowest sales pace of 2025—among the weakest since early 2020. The benchmark now sits roughly $34,000 below last year and nearly $50,000 off spring’s peak. Even with the rate of decline easing, detached listings remain elevated following this year’s supply surge, which still accounts for nearly a third of active inventory.

Townhouses also softened. September’s benchmark fell $16,400 to a 19-month low, sitting $25,700 below 2024 levels. Sales hit their lowest point in 20 months, and inventory—still up more than 60% year-over-year—shows little sign of easing.

Condos, though less volatile, reflected the broader cooling trend. While overall supply dipped compared to last year, demand has yet to recover, leaving market conditions firmly balanced.

All told, September reaffirmed a defining theme of 2025: persistent supply, hesitant buyers, and fading momentum. After a spring marked by optimism, Maple Ridge has entered a phase of recalibration—one that will hinge on whether renewed demand can chip away at inventory before further price erosion sets in.

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