The Fraser Valley real estate market continued to favour buyers in August 2026 as sales slowed and inventory remained elevated across the region. While home prices continued to ease, buyers benefited from more time to make decisions, increased negotiating opportunities, and substantial housing choice as overall market demand remained subdued.
August continued to highlight a market where buyers have greater flexibility. Active listings remained well above the 10-year seasonal average, while the sales-to-active listings ratio fell further into buyer’s market territory. At the same time, fewer new listings came to market, as some sellers held off on listing amid the summer slowdown.
Sales, New Listings & Inventory
In August, the Fraser Valley Real Estate Board (FVREB) recorded 941 home sales on its MLS®, representing a 13.6% decrease compared to July but a 1.1% increase compared to August 2025. The year-over-year increase marked only the second annual gain since the beginning of 2025, while overall demand remained subdued.
Seller activity also slowed during August. The Board recorded 2,373 new listings, down 16.3% from July and 15.0% below August 2025, reflecting a summer slowdown as some sellers held off on bringing their properties to market.
Active listings eased to 9,787 homes, a 2.6% decrease from July and 6.3% below August 2025. Despite the monthly decline, inventory remained 33% above the 10-year seasonal average, continuing to provide buyers with substantial choice.
The overall sales-to-active listings ratio fell to 10%, keeping the Fraser Valley firmly in buyer’s market territory. A balanced market is typically defined by a ratio between 12% and 20%, indicating that current supply continues to exceed demand.
MLS® HPI Benchmark Price Activity
Benchmark prices continued to soften in August as buyer-friendly conditions persisted across the Fraser Valley.
The composite benchmark price for a typical Fraser Valley home declined 0.9% month-over-month to $869,900, representing a 7.0% decrease compared to August 2025.
Major housing categories performed as follows:
Detached Homes: $1,319,600
Down 1.2% month-over-month and 8.4% year-over-year.
Townhomes: $750,600
Down 0.9% month-over-month and 7.1% year-over-year.
Apartments/Condos: $466,100
Down 0.7% month-over-month and 8.9% year-over-year.
The continued decline in benchmark prices is contributing to improving affordability, while elevated inventory and subdued competition are giving qualified buyers more opportunities to negotiate.
Average Days on Market
Homes continued to take several weeks to sell during August, giving buyers more time to evaluate available properties before making purchasing decisions.
Detached Homes: 45 days on average
Townhomes: 37 days on average
Apartments/Condos: 45 days on average
These selling timelines reflect a market where buyers continue to take their time, while sellers face increased pressure to price and position their properties competitively.
Regional Highlights
Benchmark prices continued to decline across most Fraser Valley communities compared with both July and August 2025.
Abbotsford: Detached benchmark price declined to approximately $1,117,700, down 2.2% month-over-month and 7.9% year-over-year.
Mission: Detached benchmark price declined to approximately $892,700, down 4.5% month-over-month and 11.8% year-over-year.
City of Surrey (combined): Detached benchmark price declined to approximately $1,407,800, down 0.3% month-over-month and 8.3% year-over-year.
Langley: Detached benchmark price declined to approximately $1,479,400, down 1.4% month-over-month and 7.1% year-over-year.
South Surrey / White Rock: Detached benchmark price reached approximately $1,649,200, up 0.1% month-over-month while remaining 7.5% below August 2025.
North Delta: Detached benchmark price declined to approximately $1,186,400, down 2.2% month-over-month and 10.3% year-over-year.
Market Outlook
According to FVREB Chair Ishaq Ismail, the current market reflects a tug-of-war between buyers and sellers. Some buyers are seeing opportunities to negotiate below asking price, while sellers who need to sell are more likely to accept lower offers. This dynamic is contributing to the gradual decline in home prices and creating more opportunities for those looking to enter the market.
FVREB Interim CEO Anthony Boone noted that some buyers remain on the sidelines amid economic uncertainty, including headlines around tariffs and high gas prices. However, the Fraser Valley continues to offer compelling choices, with prices now as much as 15% lower than they were three years ago. Current conditions are expected to continue favouring buyers for the foreseeable future.
As 2026 Progresses
For Buyers
Buyer-friendly conditions, elevated inventory, and continued price declines are creating opportunities for qualified buyers. With the sales-to-active listings ratio at 10% and active listings still 33% above the 10-year seasonal average, purchasers have greater choice and more time to evaluate properties and negotiate.
For Sellers
Sellers are facing a more competitive market as buyers take their time and inventory remains elevated. Competitive pricing and effective positioning are increasingly important for sellers looking to attract buyers in current market conditions.
