Fraser Valley Housing Market Report

The Fraser Valley real estate market showed early signs of momentum in February 2026, with sales rising from January levels but remaining below typical seasonal averages. While inventory continued to expand and prices edged slightly lower, buyer-friendly conditions persisted across the region.

February reflected a cautious but improving market environment, as some buyers began re-entering the market amid softer prices and abundant inventory. However, ongoing economic uncertainty and affordability pressures continue to influence purchasing decisions, keeping overall activity below long-term norms.

Sales, New Listings & Inventory

In February, the Fraser Valley Real Estate Board (FVREB) recorded 843 home sales on its MLS®, representing a 36% increase compared to January, but 8% fewer sales than February 2025. Despite the monthly improvement, sales remained 38% below the 10-year seasonal average, indicating that buyer activity is still recovering slowly.

New listings declined slightly to 2,796, a 9% decrease month-over-month and 10% below February 2025 levels. This suggests some sellers may be waiting for stronger spring demand before bringing properties to market.

Active listings continued to rise, reaching 8,344 homes available for sale, an 8% increase from January and 51% above the 10-year seasonal average, providing buyers with significant choice and negotiating power.

The sales-to-active listings ratio stood at 10%, keeping the Fraser Valley firmly 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 lower in February, continuing a gradual downward trend across all major housing categories:

Detached Homes: $1,370,900 (−0.2% MoM, −8.6% YoY)
Townhomes: $770,700 (−0.3% MoM, −7.1% YoY)
Apartments/Condos: $488,300 (−0.1% MoM, −8.9% YoY)

The composite benchmark price for all property types declined 0.2% month-over-month to $895,100, reflecting the ongoing impact of higher inventory and cautious buyer sentiment.

Average Days on Market

Homes generally took several weeks to sell in February, although selling times improved slightly compared with January:

Detached Homes: 47 days on average
Townhomes: 39 days on average
Apartments/Condos: 45 days on average

While properties are still taking longer to sell compared to stronger markets, these timelines highlight steady buyer engagement as spring approaches.

Regional Highlights

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

Abbotsford: Detached benchmark declined slightly to $1,163,000, reflecting moderate price adjustment compared with last year.

Mission: Detached benchmark held steady at $948,700, maintaining its position as one of the more affordable markets in the region.

City of Surrey (combined): Detached benchmark reached $1,461,300, continuing a gradual downward trend compared with February 2025.

Langley: Detached benchmark increased slightly month-over-month to $1,516,100, though still lower than last year.

South Surrey / White Rock: Detached benchmark softened to $1,722,800, remaining among the highest-priced markets in the Fraser Valley.

North Delta: Detached benchmark rose modestly to $1,277,500, showing slight resilience compared with surrounding markets.

Market Outlook

According to FVREB Chair Tore Jacobsen, the February increase in sales may signal the early stages of a seasonal rebound as the market approaches the spring buying season. However, activity remains well below historical norms, highlighting the continued impact of economic uncertainty and affordability pressures.

CEO Baldev Gill emphasized that many households remain in a “holding pattern,” waiting for clearer signs of economic stability before making major financial commitments such as purchasing a home. In this environment, REALTORS® continue to play an important role by 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 – February 2026

The Fraser Valley real estate market showed early signs of momentum in February 2026, with sales rising from January levels but remaining below typical seasonal averages. While inventory continued to expand and prices edged slightly lower, buyer-friendly conditions persisted across the region.

Sales, New Listings & Inventory

New listings declined slightly to 2,796, a 9% decrease month-over-month and 10% below February 2025 levels. This suggests some sellers may be waiting for stronger spring demand before bringing properties to market.

Active listings continued to rise, reaching 8,344 homes available for sale, an 8% increase from January and 51% above the 10-year seasonal average, providing buyers with significant choice and negotiating power.

The sales-to-active listings ratio stood at 10%, keeping the Fraser Valley firmly 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 lower in February, continuing a gradual downward trend across all major housing categories:

Detached Homes: $1,370,900 (−0.2% MoM, −8.6% YoY)

Townhomes: $770,700 (−0.3% MoM, −7.1% YoY)

Apartments/Condos: $488,300 (−0.1% MoM, −8.9% YoY)

The composite benchmark price for all property types declined 0.2% month-over-month to $895,100, reflecting the ongoing impact of higher inventory and cautious buyer sentiment.

Average Days on Market

Homes generally took several weeks to sell in February, although selling times improved slightly compared with January:

Detached Homes: 47 days on average

Townhomes: 39 days on average

Apartments/Condos: 45 days on average

While properties are still taking longer to sell compared to stronger markets, these timelines highlight steady buyer engagement as spring approaches.

Regional Highlights

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

Abbotsford: Detached benchmark declined slightly to $1,163,000, reflecting moderate price adjustment compared with last year.

Mission: Detached benchmark held steady at $948,700, maintaining its position as one of the more affordable markets in the region.

City of Surrey (combined): Detached benchmark reached $1,461,300, continuing a gradual downward trend compared with February 2025.

Langley: Detached benchmark increased slightly month-over-month to $1,516,100, though still lower than last year.

South Surrey / White Rock: Detached benchmark softened to $1,722,800, remaining among the highest-priced markets in the Fraser Valley.

North Delta: Detached benchmark rose modestly to $1,277,500, showing slight resilience compared with surrounding markets.

Market Outlook

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 – February 2026

The Fraser Valley real estate market showed early signs of momentum in February 2026, with sales rising from January levels but remaining below typical seasonal averages. While inventory continued to expand and prices edged slightly lower, buyer-friendly conditions persisted across the region.

Sales, New Listings & Inventory

New listings declined slightly to 2,796, a 9% decrease month-over-month and 10% below February 2025 levels. This suggests some sellers may be waiting for stronger spring demand before bringing properties to market.

Active listings continued to rise, reaching 8,344 homes available for sale, an 8% increase from January and 51% above the 10-year seasonal average, providing buyers with significant choice and negotiating power.

The sales-to-active listings ratio stood at 10%, keeping the Fraser Valley firmly 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 lower in February, continuing a gradual downward trend across all major housing categories:

Detached Homes: $1,370,900 (−0.2% MoM, −8.6% YoY)

Townhomes: $770,700 (−0.3% MoM, −7.1% YoY)

Apartments/Condos: $488,300 (−0.1% MoM, −8.9% YoY)

The composite benchmark price for all property types declined 0.2% month-over-month to $895,100, reflecting the ongoing impact of higher inventory and cautious buyer sentiment.

Average Days on Market

Homes generally took several weeks to sell in February, although selling times improved slightly compared with January:

Detached Homes: 47 days on average

Townhomes: 39 days on average

Apartments/Condos: 45 days on average

While properties are still taking longer to sell compared to stronger markets, these timelines highlight steady buyer engagement as spring approaches.

Regional Highlights

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

Abbotsford: Detached benchmark declined slightly to $1,163,000, reflecting moderate price adjustment compared with last year.

Mission: Detached benchmark held steady at $948,700, maintaining its position as one of the more affordable markets in the region.

City of Surrey (combined): Detached benchmark reached $1,461,300, continuing a gradual downward trend compared with February 2025.

Langley: Detached benchmark increased slightly month-over-month to $1,516,100, though still lower than last year.

South Surrey / White Rock: Detached benchmark softened to $1,722,800, remaining among the highest-priced markets in the Fraser Valley.

North Delta: Detached benchmark rose modestly to $1,277,500, showing slight resilience compared with surrounding markets.

Market Outlook

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

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.