Fraser Valley is becoming more affordable — but buyers are still holding back

SURREY, British Columbia, July 03, 2026 (GLOBE NEWSWIRE) -- Home prices in the Fraser Valley continued to become more affordable in June, with Benchmark prices now sitting 26 per cent below their 2022 peak. Prices edged down another 0.9 per cent during the month, reinforcing buyer-friendly conditions despite a sluggish market.

The Fraser Valley Real Estate Board recorded 1,147 sales on its Multiple Listing Service^® (MLS^®) in June, a two per cent increase from May, but four per cent below the same month last year. After pulling back in May, seller activity levelled off in June, with 3,303 new listings—virtually unchanged from May—but still nine per cent below last year's pace.

“The Fraser Valley spring market has underperformed expectations despite improving affordability and more choice for buyers,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “Opportunities are clearly there. The question is whether qualified buyers on the sidelines recognize the value available today. For those looking to enter the market or move up, current conditions present a compelling opportunity.”

The Fraser Valley enters the summer market with 10,377 active listings, maintaining a level of supply that continues to keep competition in check and create favourable conditions for buyers.

With a sales-to-active listings ratio of 11 per cent in June, the Fraser Valley remains in buyer’s market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.

“Buyers are still holding back despite some improving conditions,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The recent agreement between Build Canada Homes and BC Housing may help add supply and improve access to ownership, however, with details still unclear it’s difficult to assess the practical impact for buyers.”

Across the Fraser Valley in June, the average number of days to sell a single-family detached home was 37 days, while for a townhome, it was 33 days. Condos took, on average, 38 days to sell.

The composite Benchmark price for a typical Fraser Valley home declined seven per cent year-over-year to $884,800.

MLS^® HPI Benchmark Price Activity

• Single Family Detached: At $1,350,200 the Benchmark price for an FVREB single-family detached home decreased 1.2 per cent compared to May 2026 and decreased 7.7 per cent compared to June 2025.
• Townhomes: At $764,100 the Benchmark price for an FVREB townhome decreased 0.7 per cent compared to May 2026 and decreased 7.3 per cent compared to June 2025.
• Apartments: At $476,400 the Benchmark price for an FVREB apartment/condo decreased 1.5 per cent compared to May 2026 and decreased 9.1 per cent compared to June 2025.
  

* The Fraser Valley Real Estate Board represents some 5,000 real estate professionals, and is the exclusive source of statistics and information for the Fraser Valley real estate market including, Surrey, Langley, Abbotsford, Mission, White Rock and North Delta.

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Fraser Valley is becoming more affordable — but buyers are still holding back

Home prices in the Fraser Valley continued to become more affordable in June, with Benchmark prices now sitting 26 per cent below their 2022 peak.

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