Fraser Valley home prices level off amid improving affordability

SURREY, British Columbia, April 02, 2026 (GLOBE NEWSWIRE) -- After nearly a year of steady price declines, the Fraser Valley housing market is beginning to show early signs of stabilizing, with Benchmark prices edging up month-over-month for the first time in 11 months. While March sales activity picked up over the previous month, year-over-year sales throughout the first quarter of 2026 continue to stumble, reflecting a market where buyer caution still lingers.

The Fraser Valley Real Estate Board recorded 1,007 sales on its Multiple Listing Service^® (MLS^®) in March, a 20 per cent increase from February, but three per cent below the same month last year and 42 per cent below the ten-year seasonal average. After a decline in February, new listings increased in March, up 20 per cent to 3,341, suggesting some sellers are eager to get ahead of the spring market despite sales activity remaining soft and well below typical seasonal levels.

“We’re encouraged to see early signs of prices levelling off in the Fraser Valley,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “While sales remain below last year’s levels, this market is presenting a rare window — with greater choice, improved affordability, and meaningful incentives, particularly in the condo segment — for buyers who are ready to make a move with the right professional guidance.”

Overall inventory remains elevated in the Fraser Valley, with 9,201 active listings, up 10 per cent from February and 50 per cent above the 10-year seasonal average.

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

Across the Fraser Valley in March, the average number of days to sell a single-family detached home was 39 days, while for a condo it was 43 days. Townhomes took, on average, 36 days to sell.

“Amid economic uncertainty and rising day-to-day costs, many households are understandably taking a more cautious approach to their finances,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “That said, improving housing affordability and the potential for upward pressure on rates may make this a timely moment for buyers to consider entering the market.”

The composite Benchmark price for a typical home in the Fraser Valley increased 0.3 per cent in March, to $898,300.

MLS^® HPI Benchmark Price Activity

• Single Family Detached: At $1,375,600 the Benchmark price for an FVREB single-family detached home increased 0.3 per cent compared to February 2026 and decreased 8.7 per cent compared to March 2025.
• Townhomes: At $772,700 the Benchmark price for an FVREB townhome increased 0.3 per cent compared to February 2026 and decreased 7.3 per cent compared to March 2025.
• Apartments: At $489,200 the Benchmark price for an FVREB apartment/condo increased 0.2 per cent compared to February 2026 and decreased 9.2 per cent compared to March 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 home prices level off amid improving affordability

After nearly a year of steady price declines, the Fraser Valley housing market is beginning to show early signs of stabilizing, with Benchmark prices edging up month-over-month for the first time in 11 months.

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