Fraser Valley Housing Market Report March 2026

The Fraser Valley real estate market showed further signs of stabilization in March 2026, with sales continuing to rise from February levels but still remaining below typical seasonal averages. While inventory expanded and prices edged slightly higher, buyer-friendly conditions persisted across the region.

March reflected a cautiously improving market environment, as more buyers began re-entering the market amid increased selection and stabilizing prices. However, ongoing economic uncertainty and affordability pressures continue to influence purchasing decisions, keeping overall activity below long-term norms.

Sales, New Listings & Inventory

In March, the Fraser Valley Real Estate Board (FVREB) recorded 1,007 home sales on its MLS®, representing a 20% increase compared to February, but 3% fewer sales than March 2025. Despite the monthly improvement, sales remained 42% below the 10-year seasonal average, indicating that buyer activity is still recovering gradually.

New listings increased to 3,341, a 20% rise month-over-month, though still 12% below March 2025 levels, as sellers began preparing for the spring market.

Active listings continued to climb, reaching 9,201 homes available for sale, a 10% increase from February and 50% above the 10-year seasonal average, providing buyers with significant choice and negotiating power.

The sales-to-active listings ratio stood at 11%, keeping the Fraser Valley in buyer’s market territory. A balanced market typically falls between 12% and 20%, indicating current conditions continue to favour buyers.

MLS® HPI Benchmark Price Activity

Home prices in the Fraser Valley edged slightly higher in March, marking the first monthly increase in nearly a year and suggesting early signs of stabilization across all major housing categories:

Detached Homes: $1,375,600 (+0.3% MoM, −8.7% YoY)
Townhomes: $772,700 (+0.3% MoM, −7.3% YoY)
Apartments/Condos: $489,200 (+0.2% MoM, −9.2% YoY)

The composite benchmark price for all property types increased 0.3% month-over-month to $898,300, reflecting improving market balance as spring activity begins.

Average Days on Market

Homes generally took several weeks to sell in March, with selling times improving compared with February:

Detached Homes: 39 days on average
Townhomes: 36 days on average
Apartments/Condos: 43 days on average

While properties are still taking longer to sell compared to stronger markets, these timelines highlight improving buyer engagement as the spring market gains momentum.

Regional Highlights

Across Fraser Valley communities, prices showed modest month-to-month changes while maintaining broader year-over-year declines:

Abbotsford: Detached benchmark rose slightly to approximately $1,170,000, showing modest stabilization.
Mission: Detached benchmark remained near $950,000, maintaining relative affordability.
City of Surrey (combined): Detached benchmark reached approximately $1,470,000, continuing a gradual downward trend year-over-year.
Langley: Detached benchmark remained near $1,520,000, showing slight monthly improvement.
South Surrey / White Rock: Detached benchmark held above $1.7M, remaining among the highest-priced markets in the region.
North Delta: Detached benchmark remained near $1,280,000, showing modest resilience.

Market Outlook

According to FVREB Chair Ishaq Ismail, the increase in sales and stabilization in prices may signal the early stages of a seasonal rebound as the market moves further into the spring buying season. However, activity remains below historical norms, reflecting continued economic uncertainty and affordability challenges.

CEO Baldev Gill noted that many households are still taking a cautious approach, waiting for improved financial clarity before making major real estate decisions. In this environment, REALTORS® continue to play an important role in helping buyers and sellers navigate evolving market conditions.

As 2026 Progresses

For buyers: Inventory remains elevated, providing excellent selection and negotiating opportunities, especially for well-prepared buyers entering the market before peak spring demand.

For sellers: Competitive pricing, strong marketing strategies, and realistic expectations will remain essential to attract buyers in a market where supply still outweighs demand.

Source: Fraser Valley Real Estate Board

Fraser Valley Housing Market Report – March 2026

Sales, New Listings & Inventory

New listings increased to 3,341, a 20% rise month-over-month, though still 12% below March 2025 levels, as sellers began preparing for the spring market.

Active listings continued to climb, reaching 9,201 homes available for sale, a 10% increase from February and 50% above the 10-year seasonal average, providing buyers with significant choice and negotiating power.

The sales-to-active listings ratio stood at 11%, keeping the Fraser Valley in buyer’s market territory. A balanced market typically falls between 12% and 20%, indicating current conditions continue to favour buyers.

MLS® HPI Benchmark Price Activity

Home prices in the Fraser Valley edged slightly higher in March, marking the first monthly increase in nearly a year and suggesting early signs of stabilization across all major housing categories:

Detached Homes: $1,375,600 (+0.3% MoM, −8.7% YoY)

Townhomes: $772,700 (+0.3% MoM, −7.3% YoY)

Apartments/Condos: $489,200 (+0.2% MoM, −9.2% YoY)

The composite benchmark price for all property types increased 0.3% month-over-month to $898,300, reflecting improving market balance as spring activity begins.

Average Days on Market

Homes generally took several weeks to sell in March, with selling times improving compared with February:

Detached Homes: 39 days on average

Townhomes: 36 days on average

Apartments/Condos: 43 days on average

While properties are still taking longer to sell compared to stronger markets, these timelines highlight improving buyer engagement as the spring market gains momentum.

Regional Highlights

Across Fraser Valley communities, prices showed modest month-to-month changes while maintaining broader year-over-year declines:

Abbotsford: Detached benchmark rose slightly to approximately $1,170,000, showing modest stabilization.

Mission: Detached benchmark remained near $950,000, maintaining relative affordability.

City of Surrey (combined): Detached benchmark reached approximately $1,470,000, continuing a gradual downward trend year-over-year.

Langley: Detached benchmark remained near $1,520,000, showing slight monthly improvement.

South Surrey / White Rock: Detached benchmark held above $1.7M, remaining among the highest-priced markets in the region.

North Delta: Detached benchmark remained near $1,280,000, showing modest resilience.

Market Outlook

CEO Baldev Gill noted that many households are still taking a cautious approach, waiting for improved financial clarity before making major real estate decisions. In this environment, REALTORS® continue to play an important role in helping buyers and sellers navigate evolving market conditions.

As 2026 Progresses

For buyers: Inventory remains elevated, providing excellent selection and negotiating opportunities, especially for well-prepared buyers entering the market before peak spring demand.

For sellers: Competitive pricing, strong marketing strategies, and realistic expectations will remain essential to attract buyers in a market where supply still outweighs demand.

Source: Fraser Valley Real Estate Board