Fraser Valley Real Estate Market Update — September 2026

The Fraser Valley Real Estate Board’s September 2026 statistics are out, and the story remains one of growing opportunity for buyers who are ready to act — paired with continued hesitation from those who aren’t. Prices kept easing, inventory stayed high, and the market pushed even deeper into buyer’s territory. Here’s the full breakdown of what happened last month and what it means if you’re buying or selling in the Fraser Valley.

The Big Picture

The Fraser Valley recorded 922 sales on MLS in September — down 2 per cent from August and 4 per cent below September 2025. The notable storyline: even though more sellers returned to the market after a quiet summer, buyers didn’t match the increase in supply, keeping downward pressure on prices.

New listings jumped to 2,818, up 19 per cent from August as sellers came back, though still 18 per cent below the same month last year. Active inventory held essentially flat at 9,763 homes — a 0.2 per cent dip from August, but still sitting 31 per cent above the 10-year seasonal average. Buyers continue to have an unusually wide selection.

The sales-to-active listings ratio slipped to just 9 per cent in September, down from 10 per cent in August. For context, a balanced market runs between 12 and 20 per cent. At 9 per cent, this is the deepest into buyer’s-market territory the Fraser Valley has been all year — and the Board notes the region has now spent most of the last two years in a buyer’s market.

Year to date, 8,742 sales have been recorded, down 5.5 per cent from the same period in 2025. New listings year-to-date are down 12.9 per cent.

Benchmark Prices by Property Type

The composite benchmark price for a typical Fraser Valley home fell about 1 per cent in September and is down 7 per cent year-over-year. A standout figure from the Board: the benchmark price for a single-family home is now $460,000 below its March 2022 peak.

By property type:

Single-family detached homes benchmark at $1,300,000, down 1.5 per cent from August and 8.8 per cent from September 2025.

Townhomes benchmark at $745,300, down 0.7 per cent from August and 6.2 per cent from September 2025.

Apartments and condos benchmark at $461,800, down 0.9 per cent from August and 9.3 per cent from September 2025.

How Long Are Homes Sitting?

In September, condos took an average of 46 days to sell and single-family detached homes 45 days — both continuing the slower pace we saw in August. Townhomes remained the quickest-moving segment at 38 days on average.

Community-by-Community Breakdown

Langley detached homes benchmark at $1,471,100, down 6.7 per cent year-over-year. Townhomes sit at $802,600 (down 4.4 per cent) and apartments at $525,900 (down 9.2 per cent). Langley saw 64 detached, 61 townhome, and 67 apartment sales in September, with condo sales holding up well.

Surrey (combined) detached homes benchmark at $1,386,200, down 8.3 per cent year-over-year. Townhomes sit at $758,600 (down 6.6 per cent) and apartments at $447,600 (down 10 per cent). Notably, Surrey detached sales were up 7.1 per cent year-over-year — one of the stronger sales showings in the region.

Abbotsford remains one of the more affordable entry points. Detached homes benchmark at $1,087,000 (down 11.1 per cent year-over-year — one of the sharper annual declines), townhomes at $592,600 (down 8.6 per cent), and apartments at $370,200 (down 11 per cent) — the lowest apartment benchmark in the Fraser Valley.

White Rock / South Surrey remains the premium detached market at $1,612,500, down 7.4 per cent year-over-year. Townhomes sit at $797,100 (down 11.2 per cent) and apartments at $544,400 (down 7.7 per cent). Sales activity was strong, with detached sales up 46.3 per cent and townhome sales up 62.1 per cent from a year earlier.

Mission continues to offer relative value, with detached homes at $889,200 (down 13.2 per cent year-over-year — the steepest annual drop among the detached markets), townhomes at $618,000 (down 4.1 per cent), and apartments at $411,500 (down 4.7 per cent).

What the Board Is Saying

Ishaq Ismail, Chair of the FVREB, emphasized the affordability shift. “Prices continue to soften, with some areas of the Fraser Valley seeing more significant declines. The Benchmark price for a single-family home is now $460,000 below its March 2022 peak. For buyers who are in a position to act, this represents a significant shift in affordability and may create an opportunity for some households to move into a different segment of the market.”

Interim CEO Anthony Boone pointed to the role of economic uncertainty in keeping buyers cautious. “Buyers have been waiting for months for greater economic certainty. But a succession of economic shocks have conspired to weigh on consumer confidence, keeping many buyers on the sidelines. Despite lower prices and more choice, buyers remain cautious, and that is being reflected in the pace of sales.”

What This Means for Buyers

If there’s been a running theme in these monthly updates, September drives it home: this is as favourable a market for prepared buyers as we’ve seen in years. A 9 per cent sales ratio, inventory 31 per cent above seasonal norms, a single-family benchmark $460,000 off its peak, and longer selling times all add up to real negotiating leverage and the breathing room to make careful decisions.

Ismail’s point about moving between market segments is worth underlining. With detached prices down more sharply than condos and townhomes in many areas, the “gap” to move up from a condo or townhome into a larger home has narrowed in some communities — making a move-up purchase more attainable than it was a couple of years ago.

The one caveat remains the longer-term supply picture: as we’ve covered recently, new construction has slowed dramatically, which points to tighter supply down the road. Today’s wide selection may not last indefinitely.

What This Means for Sellers

The reality is direct and unchanged from August: at a 9 per cent sales ratio, buyers hold the leverage. Homes that are priced to today’s market and shown well are still selling — in 38 to 46 days on average — but the September data makes clear that adding a listing to an already well-supplied market means competing hard on price and presentation. Sellers who need to move should price against current comparables, not 2022 or early-2025 numbers. And for anyone selling in order to buy, remember the flip side: you’re also buying in the most buyer-friendly market in years.

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.