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.