What Buyers and Sellers Need to Know This Spring

Compared to February last year, prices are down roughly 7% to 9% across most property types.

The Fraser Valley real estate market showed early signs of activity in February as sales increased compared to January. However, overall activity remains below typical seasonal levels, creating a market environment that continues to favour buyers.

According to the latest statistics released by the Fraser Valley Real Estate Board, February saw a noticeable increase in sales month-over-month, but sales are still well below the historical average for this time of year. FebruaryStatsPackageFVREB

For buyers, this means more inventory, more negotiating power, and more time to make decisions.

For sellers, it means strategic pricing and proper marketing remain critical to attracting the right buyer.

Fraser Valley Market Snapshot – March 2026

Here are the key numbers shaping the market right now:

• Total Sales: 843 homes sold

• New Listings: 2,796 homes listed

• Active Listings: 8,344 homes available

• Sales-to-Active Listings Ratio: 10% (Buyer’s Market)

• Composite Benchmark Price: $895,100

A balanced market typically sits between a 12% and 20% sales-to-active listings ratio, so current conditions still favour buyers.

Homes are also taking longer to sell compared to previous years:

• Detached homes: 47 days on average

• Townhomes: 39 days

• Condos: 45 days

This slower pace gives buyers more time to evaluate properties.

Fraser Valley Home Prices

While prices have stabilized month-to-month, they remain lower than last year.

Benchmark prices in February were:

• Detached Homes: $1,370,900

• Townhomes: $770,700

• Condos: $488,300

This price correction has helped restore affordability for many buyers who were previously priced out of the market.

Neighbourhood Market Snapshots

Below is a quick overview of how different Fraser Valley communities performed in February.

Langley Real Estate Market

Langley continues to be one of the most active markets in the Fraser Valley.

Benchmark Prices:

• Detached homes: $1,516,100

• Townhomes: $810,300

• Condos: $553,000

Sales increased compared to January, showing signs of spring momentum beginning to build.

Inventory levels remain healthy, which continues to give buyers negotiating power.

Surrey Real Estate Market

Surrey remains one of the largest and most diverse housing markets in the region.

Benchmark Prices:

• Detached homes: $1,372,700

• Townhomes: $767,000

• Condos: $494,100

Prices are down year-over-year but have remained relatively stable month-to-month.

Areas such as Cloverdale and North Surrey are seeing moderate activity as affordability continues to draw buyers east of Vancouver.

South Surrey & White Rock

South Surrey and White Rock remain some of the most desirable coastal markets in the Fraser Valley.

Benchmark Prices:

• Detached homes: $1,722,800

• Townhomes: $863,300

• Condos: $559,500

Although prices have declined compared to last year, the area continues to command premium values due to lifestyle, schools, and proximity to the ocean.

Abbotsford Real Estate Market

Abbotsford continues to attract buyers looking for larger homes and better value compared to Metro Vancouver.

Benchmark Prices:

• Detached homes: $1,163,000

• Townhomes: $626,100

• Condos: $400,800

Condos remain the most active segment as first-time buyers enter the market.

Mission Real Estate Market

Mission continues to offer some of the most affordable detached housing in the Fraser Valley.

Benchmark Prices:

• Detached homes: $948,700

• Townhomes: $652,800

• Condos: $430,300

Sales activity increased in February compared to January, suggesting buyers are continuing to explore value opportunities outside the core urban centres.

What This Means for Buyers

With inventory levels elevated and prices lower than last year, buyers currently have:

• More choice

• More negotiating power

• Less competition compared to previous years

For many buyers who were waiting for better conditions, this market may offer one of the strongest opportunities seen in several years.

What This Means for Sellers

While the market currently favours buyers, homes are still selling.

The key factors that separate successful listings from stale ones are:

• Accurate pricing

• Strategic marketing

• Professional presentation

Sellers who position their homes correctly are still achieving strong results.

Looking Ahead to the Spring Market

The Fraser Valley market is showing early signs of increased activity as we move toward spring.

Historically, the March through June period represents the busiest real estate season, and many sellers who delayed listing earlier in the year may enter the market soon.

Similar to 2025, Listings may outpace buyer demand this Spring resulting in continued price declines throughout the spring market.

I spent about 4 and a half hours deep diving into this Musqueam deal that happened under the nose of homeowners, and apparently the NDP as well. The short and sweet is that this agreement is not a homeowner risk, but was handled terribly by everyone from top to bottom in both its optics and delivery.

I think most people understand it does not affect their property rights or title directly but the bigger question homeowners are asking is “Does this introduce risk into appraisals, financing, or resale due diligence?” – The simple answer is no.

The Musqueam had constitutionally protected rights under Section 35 of the Constitution Act, 1982, but those rights were undefined. Meaning simply the government was required to consult with Musquem, but often didn’t, so the Musquem would challenge projects in court but they had no initial role in decision making. Everything was reactive, and litigated gumming up the courts with unnecessary paperwork and lawsuits.

This agreement simply defines the Musqueam role in decision making in regards to marine infrastructure, shipping activity, environmental protection, fisheries management and habitat restoration. This is a role they already had, but was purely reactive. WIth this agreement it is proactive.

Many are comparing it to the Cowichan Richmond dispute but these are fundamentally two different issues. One is a political framework of acknowledgement, another is a legal dispute that could affect private title (and already is to some degree). Some experts are saying that early acknowledgments like this Musquem agreement could actually prevent title concerns and lengthy court cases over disputed lands.

Where this leads, and what precedent it sets, is another discussion entirely. The Cowichan legal battle is definitely the more concerning one to watch when it comes to the strength of private title. That case is currently in appeals court. The weight of that decision will have far more bearing on future precedent than this Musqueam agreement, as far as I can tell.

We have never seen anything remotely close to the price declines witnessed over the past 4 years. However, still, 9/10 people I ask say that they believe Vancouver real estate prices will increase in the next 5 years. The main drivers still exist, a globally renowned city hemmed in by mountains, ocean and a border, all lending to a lack of supply that doesn’t keep up with population growth. So I am going to highlight the reasons that a turn around (at least in market sentiment) could happen in 2027.

Monthly Costs for Homeowners Decreasing

For the first time since 2021, homeowners may be renewing their mortgages at lower interest rates, reducing their monthly costs. This can often spur on upsizers, or investors.

Geopolitical Ease

USA Mid-terms in November 2026 could reduce international exposure to a ham-fisted Republican administration. Often uncertainty of short term stability outweighs real time economic markets. Put simply, the stock market and employment metrics can perform well while American leadership is making threats – Real estate will respond to the threats.

Supply shortages beginning to hit headlines

If current trends persist throughout 2026 we are going to be in an extreme housing supply shortage come 2029 and beyond. Vancouver and Toronto are simply not building homes. If the population grows by any meaningful measure over the next 5 years, watch home prices absolutely skyrocket. I believe that by 2027 this irreversible eventuality could be making its way onto the larger news platforms driving investors out of the woodwork looking to capitalize.

Interest Rates could come down further

Interest rates are currently sitting at a neutral rate ie. Neither stimulating nor restricting the economy. The Bank of Canada has been vocal that they are holding rates due to geopolitical uncertainty, and if that uncertainty subsides they have room to decrease rates in an effort to stimulate a stagnant economy.

That being said, I think the biggest take away of this article shows we are just scratching the surface as to how many moving parts make up the trajectory of a real estate market. Short term predictions are absolutely impossible to make.

The Fraser Valley real estate market opened 2026 with continued downward pressure on prices, high inventory levels, and very cautious buyer activity. January marked the tenth consecutive month of price declines, pushing benchmark prices back to pandemic-era levels across much of the region.

If you’re buying, selling, or simply watching the market, here’s a clear breakdown of what’s happening right now — plus a quick snapshot of each major Fraser Valley community.

January 2026 Market Snapshot (Fraser Valley)

• Benchmark price: $897,200

• Month-over-month: -1.0%

• Year-over-year: -6.9%

• Total sales: 619

• Active listings: 7,711

• Sales-to-active ratio: 8% (Buyer’s Market)

• Average days on market:

  • Detached: 55 days

  • Townhomes: 50 days

  • Condos: 53 days

Inventory remains 54% above the 10-year seasonal average, while sales continue to lag well below historical norms. Under normal conditions, this would be an ideal environment for buyers — but affordability pressures and economic uncertainty are keeping many on the sidelines. statspackagejan2026

Fraser Valley Prices by Property Type

• Detached homes:
  Benchmark price: $1,373,100
  ↓ 7.4% year-over-year

• Townhomes:
  Benchmark price: $773,100
  ↓ 6.5% year-over-year

• Apartments / Condos:
  Benchmark price: $488,600
  ↓ 8.2% year-over-year

All property types declined again in January, with condos seeing the largest annual drop. statspackagejan2026

Neighborhood-by-Neighborhood Snapshot

Langley

• Benchmark price: $962,900

• Detached: $1,505,900 (↓ 7.0% YoY)

• Townhomes: $814,500 (↓ 5.9% YoY)

• Condos: $553,000 (↓ 7.9% YoY)
  Inventory continues to rise, keeping buyers firmly in control.

Abbotsford

• Benchmark price: $744,300

• Detached: $1,171,700 (↓ 5.3% YoY)

• Townhomes: $632,600 (↓ 4.3% YoY)

• Condos: $397,500 (↓ 9.5% YoY)
  One of the more affordable regions, but demand remains muted.

Mission

• Benchmark price: $844,100

• Detached: $948,500 (↓ 6.0% YoY)

• Townhomes: $655,400 (↓ 3.6% YoY)

• Condos: $437,100 (↓ 4.7% YoY)
  Prices continue to soften after strong multi-year gains.

Surrey (All Areas Combined)

• Benchmark price: $951,800

• Detached: $1,393,800 (↓ 7.9% YoY)

• Townhomes: $767,300 (↓ 7.1% YoY)

• Condos: $499,700 (↓ 9.1% YoY)
  Surrey remains one of the most active markets, but inventory is well ahead of demand.

South Surrey & White Rock

• Benchmark price: $1,046,200

• Detached: $1,728,000 (↓ 6.3% YoY)

• Townhomes: $861,000 (↓ 8.1% YoY)

• Condos: $565,300 (↓ 5.5% YoY)
  Higher-end markets are feeling the slowdown more acutely.

North Delta

• Benchmark price: $1,094,500

• Detached: $1,269,100 (↓ 10.5% YoY)

• Townhomes: $901,700 (↓ 2.1% YoY)

• Condos: $517,700 (↓ 8.3% YoY)
  Detached homes saw some of the sharpest annual declines in the region.

What This Means for Buyers and Sellers

Buyers:
This is one of the strongest buyer-leaning markets the Fraser Valley has seen since 2008. Selection is high, competition is limited, and pricing power has shifted away from sellers.

Sellers:
Pricing correctly matters more than ever. Homes that are aspirationally priced are sitting, while well-priced properties are still moving — just more slowly.

Final Thoughts

January 2026 confirmed what many have already felt: the Fraser Valley is firmly in a buyer’s market. Until affordability improves or confidence returns, expect prices to remain under pressure and activity to stay subdued.

If you want a hyper-local breakdown of your neighborhood or property type, or help interpreting how these numbers affect your situation, that’s where working with a local expert really matters.

It’s genuinely challenging to bring buyers and sellers together right now, and that’s not because there’s a lack of interest — it’s because of a disconnect in expectations.

One of the most important distinctions in today’s market is the difference between a motivated seller and a seller who is still feeling out their options. Both are completely reasonable positions to be in, but they lead to very different outcomes.

For buyers, this matters because time and energy are best spent focusing on homes where the seller is prepared to work within today’s market realities. Some listings are priced with flexibility and intent, while others are positioned closer to early-2025 expectations. Understanding that difference early helps buyers avoid frustration and focus on opportunities that can actually come together.

For sellers, motivation doesn’t mean urgency or pressure — it simply means clarity. In this market, the homes that are selling are the ones priced based on the most recent comparable sales, not past highs. That clarity allows buyers to engage confidently and negotiations to move forward productively.

A large portion of current inventory consists of homes where sellers are waiting to see if the right buyer appears at a higher price. There’s nothing wrong with that approach, but it does mean fewer showings, longer timelines, and limited negotiating momentum. In contrast, sellers who price realistically from the outset tend to see more activity and better-quality conversations, even if final sale prices are modestly below initial expectations.

Another challenge right now is price discovery. In some pockets, there have been very few recent sales over the past three to six months, which makes setting accurate expectations more difficult for everyone involved. This is where careful analysis, local knowledge, and patience become especially important.

For buyers, the goal is protection — avoiding overpaying and focusing on homes where a deal is achievable. For sellers, the goal is guidance — understanding how today’s market works so decisions can be made with confidence rather than guesswork.

There are absolutely opportunities in this market, but they require realism, good information, and a strategy aligned with current conditions. As always, I’m here as a resource to help make sense of what you’re seeing and to provide clarity whenever questions come up.