Fraser Valley Housing Market Report – October 2026

The Fraser Valley real estate market recorded a seasonal increase in home sales in October 2026, although overall demand remained subdued. The Fraser Valley Real Estate Board recorded 1,051 sales during the month, up 14% from September but 6.4% lower than October 2025. New listings and active inventory both declined compared with the previous month.

Despite the increase in sales, the market continued to favour buyers. The Fraser Valley remained in a buyer’s market in October, with the sales-to-active listings ratio at 11%. Benchmark prices also continued to decline across detached homes, townhomes, and apartments, with the composite Benchmark price reaching $860,000.

Sales, New Listings & Inventory

In October, the Fraser Valley Real Estate Board (FVREB) recorded 1,051 home sales on its Multiple Listing Service® (MLS®), representing a 14.0% increase from September and a 6.4% decrease from October 2025. Year-to-date sales reached 9,765, down 5.8% compared with the same period in 2025.

Seller activity eased during October, with 2,551 new listings coming to market. This represented a 9.5% decrease from September and a 14.0% decline compared with October 2025. Year-to-date new listings totalled 29,949, down 12.9% from the same period last year.

Active listings declined to 9,164 homes, a 6.1% decrease from September and 9.5% below October 2025. Although inventory continued to soften, buyers still had a range of properties to consider across the Fraser Valley.

The overall sales-to-active listings ratio stood at 11% at October month-end. According to the FVREB report, a balanced market is typically defined by a ratio between 12% and 20%, keeping the Fraser Valley in buyer’s market territory.

MLS® HPI Benchmark Price Activity

Benchmark prices continued to ease across the Fraser Valley in October, with all three major housing categories recording monthly and annual declines.

The composite Benchmark price for a typical Fraser Valley home decreased 0.1% month-over-month to $860,000, representing a 6.4% decrease compared with October 2025.

Major housing categories performed as follows:

Detached Homes: $1,293,800

Down 0.5% month-over-month and 8.5% year-over-year.

Townhomes: $742,300

Down 0.4% month-over-month and 5.5% year-over-year.

Apartments/Condos: $460,800

Down 0.2% month-over-month and 8.1% year-over-year.

The October MLS® HPI figures show that price adjustments continued across all major property types, with detached homes recording the largest annual percentage decline among the three categories.

Average Days on Market

Homes continued to take several weeks to sell in October, reflecting the cautious pace of buyer activity across the Fraser Valley.

Detached Homes: 50 days on average

Townhomes: 37 days on average

Apartments/Condos: 44 days on average.

These selling timelines indicate that buyers are continuing to take time when evaluating available properties, while sellers face a market where demand remains measured.

Regional Highlights

Detached benchmark prices declined year-over-year across all highlighted Fraser Valley communities in October, although monthly movements varied by area.

Abbotsford: Detached benchmark price reached $1,090,500, up 0.3% month-over-month but down 13.1% year-over-year.

Mission: Detached benchmark price declined to $883,300, down 0.7% month-over-month and 13.1% year-over-year.

City of Surrey (combined): Detached benchmark price reached $1,380,100, down 0.4% month-over-month and 7.7% year-over-year.

Langley: Detached benchmark price declined to $1,448,100, down 1.6% month-over-month and 6.5% year-over-year.

South Surrey / White Rock: Detached benchmark price reached $1,606,500, down 0.4% month-over-month and 6.3% year-over-year.

North Delta: Detached benchmark price reached $1,165,900, up 0.5% month-over-month but down 9.2% year-over-year.

Market Outlook

According to FVREB Chair Ishaq Ismail, detached homes continued to lead sales activity in October, significantly outpacing townhomes and apartments. He noted that improving affordability in the detached segment may be helping sustain demand, with the substantial price correction bringing detached homes within reach for more buyers.

FVREB CEO Rock Lefebvre said much of the pandemic-era price growth in the Fraser Valley has been erased, bringing affordability to its best level in five years. However, he cautioned that interest rates have recently moved higher, with the possibility of further increases, meaning buyers need to consider borrowing costs when making purchasing decisions.

As 2026 Progresses

For Buyers

Buyer-friendly conditions continue across the Fraser Valley, with the sales-to-active listings ratio at 11% and benchmark prices down year-over-year across detached homes, townhomes, and apartments. The composite Benchmark price has declined to $860,000, while the Board reports that affordability has reached its best level in five years. Buyers should also factor current and potential borrowing costs into their decisions.

For Sellers

October sales increased 14.0% from September, but remained 6.4% below October 2025. New listings and active inventory also declined from the previous month, while the market remained in buyer’s territory. Sellers should be prepared for buyers to take their time and compare available options, making realistic pricing and effective property presentation important.

Source: Fraser Valley Real Estate Board