More choice, lower prices giving hesitant Fraser Valley homebuyers options

SURREY, BC – Fraser Valley home buyers remained cautious despite continued weakening prices, as September sales failed to keep pace with the seasonal rise in new listings.

The Fraser Valley Real Estate Board recorded 922 sales on its Multiple Listing Service® (MLS®) in September, a two per cent decrease from August and four per cent below sales from the same month last year. Subdued demand continues to weigh on prices, with the composite Benchmark price for a typical Fraser Valley home falling one per cent in September and seven per cent from one year ago.

“Prices continue to soften, with some areas of the Fraser Valley seeing more significant declines,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “The Benchmark price for a single-family home is now $460,000 below its March 2022 peak. For buyers who are in a position to act, this represents a significant shift in affordability and may create an opportunity for some households to move into a different segment of the market.”

After a quieter summer, more sellers returned to the market in September, bringing 2,818 new listings, up 19 per cent from August, but 18 per cent below the same month last year. Overall inventory remained unchanged in September, with 9,763 active listings on the market, a 0.2 per cent decline from August, but still 31 per cent above the 10-year seasonal average.

The Fraser Valley has spent most of the last two years in a buyer’s market with no change in September. A balanced market is typically defined by a ratio between 12 and 20 per cent.

“Buyers have been waiting for months for greater economic certainty,” said Anthony Boone, Interim CEO of the Fraser Valley Real Estate Board. “But a succession of economic shocks have conspired to weigh on consumer confidence, keeping many buyers on the sidelines. Despite lower prices and more choice, buyers remain cautious, and that is being reflected in the pace of sales.”

Across the Fraser Valley in September, the average number of days to sell a condo was 46 days, while a single-family detached home was 45 days. Townhomes took, on average, 38 days to sell.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,300,000 the Benchmark price for an FVREB single-family detached home decreased 1.5 per cent compared to August 2026 and decreased 8.8 per cent compared to September 2025.
• Townhomes: At $745,300 the Benchmark price for an FVREB townhome decreased 0.7 per cent compared to August 2026 and decreased 6.2 per cent compared to September 2025.
• Apartments: At $461,800 the Benchmark price for an FVREB apartment/condo decreased 0.9 per cent compared to August 2026 and decreased 9.3 per cent compared to September 2025.