Fraser Valley Real Estate Market Update — June 2026

The Fraser Valley Real Estate Board's June 2026 statistics are out, and the headline tells the story clearly: prices are the most affordable they've been since before the pandemic surge, yet buyers are still largely sitting on the sidelines. Here's a full breakdown of what happened in the market last month and what it means if you're buying or selling in the Fraser Valley.

The Big Picture

The Fraser Valley recorded 1,147 sales on MLS in June — up 2 per cent from May but still 4 per cent below June 2025. New listings came in at 3,303, virtually unchanged from May but 9 per cent below last year's pace. Active inventory sits at 10,377 homes across the region, maintaining one of the highest supply levels buyers have seen in years.

The sales-to-active listings ratio — the key indicator of market balance — sits at just 11 per cent. For context, a balanced market runs between 12 and 20 per cent. Anything below 12 per cent is a buyer's market, and at 11 per cent, that's exactly where the Fraser Valley is heading into summer.

Year to date, 5,850 sales have been recorded across the Fraser Valley, down 5.4 per cent from the same period in 2025.

Benchmark Prices by Property Type

The composite benchmark price for a typical Fraser Valley home declined 7 per cent year-over-year to $884,800 — now sitting 26 per cent below the 2022 peak.

By property type, the numbers break down as follows:

Single-family detached homes benchmark at $1,350,200, down 1.2 per cent from May and 7.7 per cent from June 2025.

Townhomes benchmark at $764,100, down 0.7 per cent from May and 7.3 per cent from June 2025.

Apartments and condos benchmark at $476,400, down 1.5 per cent from May and 9.1 per cent from June 2025 — the sharpest year-over-year decline of the three property types.

How Long Are Homes Sitting?

In June, the average days on market for a single-family detached home was 37 days. Townhomes were moving slightly faster at 33 days on average. Condos were taking the longest at 38 days — consistent with the softer apartment market we've been tracking all year.

Community-by-Community Breakdown

Langley detached homes benchmarked at $1,494,800, down 6.9 per cent year-over-year. Townhomes came in at $813,200 (down 5.5 per cent) and apartments at $542,100 (down 9.1 per cent). Detached sales were 86 in June, down 7.5 per cent from last year. Townhome sales showed some strength at 92, up 4.5 per cent year-over-year.

Surrey (combined) detached homes benchmarked at $1,431,700, down 8.7 per cent year-over-year. Townhomes sit at $781,500 (down 8.2 per cent) and apartments at $460,400 (down 9.9 per cent). Surrey recorded 193 detached sales, 174 townhome sales, and 141 apartment sales in June.

Abbotsford is one of the more affordable entry points in the region. Detached homes benchmark at $1,172,600 (down 5 per cent year-over-year), townhomes at $606,500 (down 8.3 per cent), and apartments at $390,100 (down 11.3 per cent) — the lowest apartment benchmark in the Fraser Valley.

White Rock / South Surrey remains the region's premium detached market, benchmarking at $1,696,300 for a single-family home, down 7.6 per cent year-over-year. Townhomes sit at $853,400 (down 8.9 per cent) and apartments at $560,800 (down 4.6 per cent).

Mission continues to offer relative value, with detached homes at $941,700 (down 7 per cent year-over-year), townhomes at $645,400 (down 1.1 per cent), and apartments at $422,900 (down 6.8 per cent).

What the Board Is Saying

Ishaq Ismail, Chair of the Fraser Valley Real Estate Board, noted that the spring market underperformed expectations despite improving affordability and increased choice for buyers. "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."

Baldev Gill, CEO of the FVREB, echoed that hesitation is still the dominant buyer behaviour. He also acknowledged that the recently announced federal-provincial condo conversion program — which we covered in a recent post — may eventually add supply and improve access to ownership, but with details still unclear, it's difficult to assess the practical impact for buyers right now.

What This Means for Buyers

If you've been waiting for the market to shift in your favour, it already has. Benchmark prices across all property types are meaningfully below their 2022 peaks, inventory is high, and sellers are competing for a limited pool of active buyers. Days on market are longer, which means less pressure to rush decisions. With the Bank of Canada holding rates at 2.25 per cent (also covered recently on this blog), borrowing costs are stable for now — and the window to buy before any market recovery is open.

What This Means for Sellers

Pricing strategy matters more than ever. With 10,377 active listings competing for 1,147 buyers, homes that are priced accurately and presented well are still selling — in 33 to 38 days on average. Homes that are priced based on 2022 comparables are sitting. If you're serious about selling this summer, the data is clear about where the market is.

If you'd like a current market evaluation for your home, or want to talk through what these numbers mean for a purchase you're considering in Langley, Surrey, Abbotsford, or anywhere in the Fraser Valley, reach out — I'm happy to walk through it with you.