Fraser Valley home sales rise, but ample supply and cautious buyers impacting local housing market

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FRASER VALLEY – A regional real estate association says that despite a seasonal increase in monthly home sales, particularly in detached single-family homes, the Fraser Valley housing market continues to grapple with reduced demand, cautious buyers and ample supply.

In its monthly recap for October, the Fraser Valley Real Estate Board says it recorded 1,051 sales on its Multiple Listing Service last month, a 14 per cent increase from September but six per cent below the same month last year.

“Detached homes continued to lead sales activity in October, significantly outpacing both townhomes and apartments,” said Ishaq Ismail, chair of the Fraser Valley Real Estate Board. “This is a trend we’ve been watching in recent months, and improving affordability in the detached segment may be helping sustain that demand. The substantial price correction appears to be bringing detached homes within reach for more buyers.”

Inventory dipped in October, in keeping with typical seasonal patterns. A total of 2,551 new listings came to market, down 10 per cent from September. Overall inventory also softened, falling six per cent month-over-month and 10 per cent from October 2025 to 9,164 active listings.

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

The composite benchmark price for a typical Fraser Valley home dipped 0.1 per cent in October to $860,000, down 6.4 per cent year-over-year.

“Much of the pandemic-era price growth in the Fraser Valley has been erased,” said Rock Lefebvre, CEO of the Fraser Valley Real Estate Board. “That brings affordability to its best level in five years, creating a welcome opportunity for buyers. However, with interest rates recently moving higher and the possibility of further increases, buyers will need to consider how borrowing costs factor into their purchasing decisions.”

Across the Fraser Valley in October, the average number of days to sell a single-family detached home was 50 days, while a condo was 44 days. Townhomes took, on average, 37 days to sell.

MLS HPI Benchmark Price Activity

• Single Family Detached: At $1,293,800 the Benchmark price for an FVREB single-family detached home decreased 0.5 per cent compared to September 2026 and decreased 8.5 per cent compared to October 2025.
• Townhomes: At $742,300 the Benchmark price for an FVREB townhome decreased 0.4 per cent compared to September 2026 and decreased 5.5 per cent compared to October 2025.
• Apartments: At $460,800 the Benchmark price for an FVREB apartment/condo decreased 0.2 per cent compared to September 2026 and decreased 8.1 per cent compared to October 2025.