The Fraser Valley real estate market remained favourable for buyers in July 2026 as improving affordability and elevated inventory continued to shape market conditions across the region. While home prices continued to edge downward, sales activity slowed compared to both June and July 2025, reflecting ongoing buyer caution despite greater housing choice and reduced competition.
July continued to highlight a market offering opportunities for well-prepared buyers. Inventory remained well above typical seasonal levels, allowing purchasers more time to evaluate properties and negotiate favourable terms. At the same time, sellers experienced slower activity as new listings declined, reinforcing the importance of competitive pricing and effective marketing.
Sales, New Listings & Inventory
In July, the Fraser Valley Real Estate Board (FVREB) recorded 1,089 home sales on its MLS®, representing a 5.1% decrease compared to June and 8.5% fewer sales than July 2025. Sales activity remained well below typical seasonal levels, as many buyers continued to take a measured approach despite improving affordability.
Seller activity also slowed during July. The Board recorded 2,836 new listings, down 14.1% from June and 17.9% below July 2025, indicating that fewer homeowners chose to bring their properties to market during the month.
Active listings eased slightly to 10,044 homes, a 3.2% decrease from June. Despite the monthly decline, inventory remained 32% above the 10-year seasonal average, continuing to provide buyers with substantial selection and negotiating leverage.
The overall sales-to-active listings ratio remained at 11%, keeping the Fraser Valley firmly in buyer’s market territory. A balanced market typically falls between 12% and 20%, indicating that supply continues to outweigh demand across much of the region.
MLS® HPI Benchmark Price Activity
Benchmark prices continued to soften in July as affordability improved and buyer-friendly conditions persisted.
The composite benchmark price for all residential property types declined 0.8% month-over-month to $877,600, leaving it 7.0% lower than July 2025.
Major housing categories performed as follows:
Detached Homes: $1,335,200
Down 1.1% month-over-month and 8.3% year-over-year.
Townhomes: $757,300
Down 0.9% month-over-month and 7.1% year-over-year.
Apartments/Condos: $469,500
Down 1.4% month-over-month and 9.1% year-over-year.
While benchmark prices continued to ease, improving affordability is creating opportunities for qualified buyers, particularly those entering the market or looking to downsize.
Fraser Valley Housing Market Report – July 2026 – MLS® HPI Benchmark Price Activity
Average Days on Market
Homes continued to sell within several weeks during July, with detached homes and townhomes taking similar amounts of time to sell.
Detached Homes: 40 days on average
Townhomes: 40 days on average
Apartments/Condos: 46 days on average
These selling timelines indicate that buyers continue to take their time evaluating available properties before making purchasing decisions.
Regional Highlights
Across Fraser Valley communities, benchmark prices generally continued to soften compared to both June and the previous year.
Abbotsford: Detached benchmark price declined to approximately $1,143,000, down 2.5% month-over-month and 7.6% year-over-year.
Mission: Detached benchmark price eased to approximately $934,800, down 0.7% from June and 8.2% below July 2025.
City of Surrey (combined): Detached benchmark price declined to approximately $1,412,000, down 1.4% month-over-month and 9.2% year-over-year.
Langley: Detached benchmark price increased slightly to approximately $1,500,900, up 0.4% from June while remaining 6.2% below last year’s level.
South Surrey / White Rock: Detached benchmark price remained among the region’s highest at approximately $1,647,200, down 2.9% month-over-month and 9.7% year-over-year.
North Delta: Detached benchmark price declined to approximately $1,213,000, down 1.6% from June and 9.1% lower than July 2025.
Market Outlook
According to FVREB Chair Ishaq Ismail, buyer urgency has remained largely absent from the Fraser Valley market. With inventory staying high and competition subdued, buyers know they have time to evaluate their options and can return to a market that continues to offer plenty of choice.
FVREB Interim CEO Anthony Boone noted that while economic uncertainty continues to influence buying decisions, the Fraser Valley remains one of the Lower Mainland’s strongest markets for improving affordability. As home prices continue to ease, qualified buyers are finding opportunities that were not available just a few years ago, particularly first-time buyers and those looking to downsize.
As 2026 Progresses
For Buyers
Improving affordability, elevated inventory, and continued buyer-friendly conditions provide excellent opportunities for qualified buyers. With more homes available and reduced competition, purchasers have greater flexibility to compare properties, negotiate favourable terms, and make informed decisions.
For Sellers
Although inventory remains elevated, well-presented and competitively priced homes continue to attract buyers. Sellers who implement effective pricing strategies and strong marketing will be best positioned to stand out in today’s buyer’s market.
