NOVEMBER UPDATE | OCTOBER 2026 STATISTICS

Sales improve, but buyers still have the advantage

Elevation Real Estate Group | RE/MAX Treeland Realty | November 4, 2026

October brought a welcome improvement in Fraser Valley home sales and a slower pace of price declines. Buyers still have considerable choice, however, and the market has not established a broad recovery. The latest FVREB statistics, released November 3, show a seasonal improvement in activity alongside lower inventory.

Our outlook is for continued negotiating room and uneven price pressure through winter. Langley townhouses stand out, but local detached homes and apartments did not share the regional sales rebound. With the Bank of Canada raising rates in late October, financing costs deserve renewed attention.

More sales and fewer listings, with a seasonal caution

FVREB recorded 1,051 sales in October, up 14.0% from September but down 6.4% from October 2025. New listings fell 9.5% for the month to 2,551, also 14.0% below a year earlier. Active listings declined to 9,164, down 6.1% monthly and 9.5% annually.

That combination improved the sales-to-active listings ratio to 11.5%, calculated from reported sales and month-end inventory, compared with 9.4% in September. It remains below the usual balanced range of 12% to 20%. The direction is encouraging, but the improvement fits a seasonal pattern, and sales remain below last October.

Year-to-date sales total 9,765, down 5.8%. New listings are down 12.9% to 29,949. Supply is retreating faster than sales over the year, which may gradually ease the imbalance. It has not yet produced sustained price stability. Average selling times were 50 days for detached homes, 37 for townhouses and 44 for apartments.

Price declines slowed, but have not stopped

The composite benchmark reached $860,000, with FVREB reporting a 0.1% monthly decline and a 6.4% annual decline. Each major property type also fell, although by less than in September.

Property type	Benchmark	1 month	3 months	1 year
Detached	$1,293,800	-0.5%	-3.1%	-8.5%
Townhouse	$742,300	-0.4%	-2.0%	-5.5%
Apartment	$460,800	-0.2%	-1.8%	-8.1%

Detached homes still show the largest three-month decline. Townhouses have held up better annually, but none of the regional categories have turned positive. One gentler month is a reason to watch closely, not enough to call a bottom.

A benchmark follows a home with typical characteristics. It is different from an average sale price, which changes with the mix of homes sold. The regional average fell 1.9% in October, but that does not mean every property's value fell by that amount. Pricing decisions still need recent comparable sales and current competing listings.

Langley: townhouse strength, with softer detached demand

Comparing the same property types makes the local differences clearer. Regional sales-to-active ratios were 12.8% for detached homes, 17.2% for townhouses and 11.6% for apartments.

Langley	Sales	Active	Ratio	Benchmark	1 month
Detached	59	434	13.6%	$1,448,100	-1.6%
Townhouse	76	260	29.2%	$800,600	-0.2%
Apartment	60	404	14.9%	$522,300	-0.7%

Townhouses: Sales rose 24.6% monthly and 7.0% annually, while inventory fell 8.1% for the month. The 29.2% ratio reflects both more sales and fewer available listings. It is above the usual balanced range, yet the benchmark still edged down and remains 3.7% below last year. Sellers have a stronger relative position here, but that does not justify assuming every townhouse will attract multiple offers.

Detached homes: Sales fell 7.8% from September and 25.3% annually. The benchmark declined 1.6% in October, compared with 0.5% regionally, and is down 3.5% over three months. Regional detached sales rose, so that headline should not be applied automatically to Langley. Local buyers remain selective.

Apartments: Sales declined 10.4% monthly and 20.0% annually. Inventory is 27.2% below last October, helping the ratio remain within the usual balanced range. Nevertheless, the benchmark fell 0.7% monthly and 8.4% annually. Lower inventory alone has not stopped prices from adjusting.

Rates and employment add reasons for caution

The Bank of Canada raised its policy rate by 0.25 percentage points to 2.50% on October 28. It cited more persistent inflation pressures and said further increases could be needed. Its next scheduled decision is December 9. Most October transactions preceded this decision, so the month's sales figures cannot show its full effect.

We would revisit financing with a mortgage professional before making a commitment. Variable borrowing costs are sensitive to policy-rate changes; fixed rates are also influenced by bond yields and lender pricing. A lower purchase price does not necessarily mean a lower monthly payment.

Statistics Canada's September Labour Force Survey, released October 9, reported 68,000 fewer jobs nationally and unemployment at 6.5%. BC employment fell by 20,000. These broader figures support caution about household confidence, but are not a direct measure of employment in Langley. They are September figures, not an October employment result.

BCREA's October 14 release also reported weaker September activity provincially: sales were down 8.9% annually and 25.8% below the ten-year average for that month. It noted that declining inventory was helping market balance. That is useful provincial context, while October's FVREB figures provide the more recent local picture.

What we expect through winter

Our base case is a gradual, uneven adjustment rather than a rapid rebound. October offers more evidence of improving supply and demand than September did, but higher borrowing costs and weak annual sales limit how far we would take that signal. These are our expectations, not guaranteed outcomes or numerical price forecasts.

November: We expect listing activity to ease seasonally. The important test is whether sales hold up as buyers reassess financing after the rate increase. If inventory falls mainly because owners withdraw, a better market ratio would tell us less about demand than continued sales growth would.

December: Holiday activity and smaller transaction counts can make monthly changes less reliable. We expect motivated buyers and sellers to keep negotiating, with sharper differences between well-priced homes and stale listings. The December 9 rate decision may influence confidence, but we would not plan around a particular outcome.

Early 2027: A sustained improvement would require demand to keep pace when more listings return. We will watch whether benchmark prices flatten for several months, sales improve beyond normal seasonal patterns and inventory continues to shrink relative to demand. Continued rate pressure or weaker employment would increase the risk of further softness.

How to approach this market

Buying: Use the available choice to compare homes, confirm financing and complete inspections and document review. Negotiate price, dates and appropriate conditions. Langley townhouses may offer less room than the broader market, so base each offer on the property's actual competition.

Selling: Price against what buyers can purchase today. Presentation matters, but it cannot fully offset an asking price above current value. Review qualified offers and feedback promptly. A slower pace of benchmark declines is encouraging, but waiting for spring still involves carrying costs and market risk.

Buying and selling: Focus on the complete move: the price difference, financing, transaction costs and timing. Selling a townhouse to buy detached could involve two quite different negotiating positions. We can compare both sides before you decide which step to take first.

If you are considering a move in Langley or elsewhere in the Fraser Valley, contact our team for a closer look at recent sales and competing listings relevant to your plans.

Source: Fraser Valley Real Estate Board, October 2026 statistics package, released November 3, 2026, PDF pages 2-4 and 6. Price changes follow the detailed HPI table. Monthly sales and listing figures are not seasonally adjusted. Regional totals include all property types; category comparisons cover detached homes, townhouses and apartments. Ratios are monthly sales divided by month-end active listings, rounded to one decimal. FVREB rounds the overall ratio to 11% in its release. A single month's ratio does not establish a price trend, and benchmarks are not valuations of individual properties. Economic context checked November 4, 2026. Read the full FVREB report.

Canada is not a poor country. We have abundant land, energy, natural resources, educated people, stable institutions, and one of the most desirable places in the world to live. And yet many Canadians feel poorer, more stretched, and less hopeful than they did a decade ago.

Nowhere is this more obvious than in real estate.

For a generation, rising home values made many Canadians feel wealthier. Homeowners gained equity, investors built portfolios, banks expanded mortgage books, governments collected revenue, and industries connected to housing benefited. But that apparent prosperity came with a cost: housing became detached from local incomes, younger families were priced out, infrastructure fell behind, and too much of Canada’s capital flowed into bidding up existing assets rather than building productive businesses.

The result is an economy that looks larger on paper but weaker per person.

The Growth Model: More People, Not Enough Productivity

Over the past decade, Canada leaned heavily on population growth to expand the economy. Immigration is not the problem by itself. A well-managed immigration system can strengthen a country, fill labour shortages, support entrepreneurship, and offset demographic decline.

The problem is that population growth was not matched by enough housing, infrastructure, business investment, or productivity growth.

Canada added people faster than it added homes. It added workers faster than it added machinery, technology, energy infrastructure, and productive capital. It added demand faster than it added supply.

That produces a predictable outcome: total GDP rises, but GDP per person stagnates. Housing prices and rents rise, but living standards do not. Governments point to economic growth, while ordinary families feel like they are falling behind.

This is the central contradiction of modern Canada: the country has grown, but many Canadians have not become more prosperous.

Real Estate Became the Main Wealth Engine

For many households, real estate became the most reliable path to wealth. That was not irrational. Falling interest rates, tax-free principal residence gains, strong population growth, constrained housing supply, and cultural confidence in real estate all pushed capital into housing.

Low interest rates were the accelerant. When mortgage rates fell, buyers could borrow more, investors could take on more leverage, and asset prices rose. But low rates were not the only cause. Canada also created a system where real estate was treated more favourably than many productive investments.

A homeowner could make hundreds of thousands of dollars tax-free on a principal residence. An entrepreneur taking risks to build a company faces taxes, regulations, payroll obligations, and uncertainty. A family buying a rental property could often access easier financing than a business owner trying to expand operations.

Over time, this distorted incentives. Capital flowed toward land, housing, mortgages, renovations, and speculation. Too little flowed toward machinery, technology, manufacturing, resource development, exports, and productivity-enhancing investment.

Real estate became not just a place to live, but a national investment strategy.

The Housing Crisis Is a Symptom of a Bigger Economic Problem

Canada’s housing crisis is usually discussed as a supply problem, and it is. We have not built enough homes, especially in the places where people want and need to live.

But the housing crisis is also a productivity problem.

If wages had grown in step with home prices, affordability would be less severe. Instead, home prices rose far faster than incomes in many markets. That means the issue is not just that homes became expensive; it is that Canadian incomes did not keep up.

A healthy economy should allow young families to work hard, save, and eventually buy a reasonable home in the community where they live. That social contract has broken down in much of Canada.

In places like the Fraser Valley, this is painfully obvious. Many homeowners have benefited from appreciation, including people working in real estate. But our children now face a market where even modest homes can feel permanently out of reach. That is not a sign of success. It is a sign of imbalance.

How Government Policy Contributed

This problem was not created by one government, one party, or one policy. It developed over decades. But the 2015–2025 period worsened the imbalance.

The federal government pursued rapid population growth while housing supply, infrastructure, health care, schools, transportation, and business investment failed to keep up. At the same time, Canada struggled to attract enough productivity-enhancing investment.

Resource development became slower, more uncertain, and more politically contentious. Oil, gas, mining, forestry, LNG, electricity transmission, ports, rail, and major infrastructure are all areas where Canada should have a natural advantage. These sectors can produce high wages, exports, tax revenue, and productivity. Instead, too many projects became trapped in regulatory delay, political uncertainty, or investor hesitation.

Environmental responsibility matters. But responsible development is not the same as no development. A country with Canada’s resources should be able to build, export, and innovate while maintaining high environmental standards.

Instead, Canada too often created a business climate in which housing speculation seemed safer than productive investment.

Where We Are Headed

The next few years will likely be a transition period.

Housing is unlikely to become truly affordable quickly. Prices may stagnate or decline in real terms, especially if incomes rise slowly and inflation continues to erode purchasing power. Some rental pressure may ease as growth in temporary residents slows, but ownership affordability will remain strained unless supply increases dramatically.

The condo market, especially in Toronto and Vancouver, may remain under pressure because many projects no longer work financially at today’s construction costs, interest rates, development charges, and presale conditions. That creates a dangerous situation: weak sales today can mean less housing supply several years from now.

Detached homes in desirable family-oriented communities may remain relatively scarce, even if the broader market softens. That means the affordability challenge for families may persist unless we build more ground-oriented, family-suitable housing: townhomes, multiplexes, row homes, small-lot detached homes, and mid-rise communities near schools, parks, and transit.

On productivity, the timeline is even longer. If Canada begins making better decisions now, the benefits may not be obvious for five to ten years. Business investment, infrastructure, energy projects, housing reform, and productivity growth all take time. There is no quick fix.

The hopeful sign is that the national conversation has shifted. More policymakers now recognize that Canada cannot rely forever on population growth, housing inflation, and government spending. The country needs investment, exports, innovation, and higher output per worker.

But recognizing the problem is not the same as solving it.

What Needs to Change

Canada needs a new economic bargain.

First, we need to build far more housing. Not just luxury condos. Not just subsidized housing. We need an abundant supply of market housing, rental housing, family housing, senior housing, and entry-level ownership options. Municipal approval timelines need to shrink. Zoning must allow more homes in established neighbourhoods. Development charges need to be reformed so that new housing does not bear an impossible share of infrastructure costs.

Second, immigration must be tied to capacity. Canada should welcome newcomers, but population growth must be aligned with housing completions, health-care capacity, infrastructure, and labour market needs. Immigration policy cannot be treated as a substitute for productivity policy.

Third, we need to make productive investment more attractive than passive real estate speculation. That means encouraging investment in equipment, technology, energy, manufacturing, logistics, resource development, and Canadian businesses that can scale globally.

Fourth, Canada needs to responsibly develop its natural resources. Oil, gas, mining, forestry, hydro, LNG, critical minerals, and energy infrastructure should not be treated as embarrassments. They are strategic advantages. The goal should not be reckless extraction; it should be world-class, responsible development that creates wealth, exports, and high-paying jobs.

Fifth, governments need to stop relying on rising home prices as a hidden economic strategy. Expensive housing makes existing owners feel wealthier, but it weakens the next generation. A society cannot call itself successful if young families cannot afford to live where they grew up.

The Role of Real Estate Professionals

Those of us in real estate need to be honest about this. Many of us have benefited from the system. Rising prices created equity, commissions, investment opportunities, and client wealth.

But we should not confuse personal benefit with social health.

A functional real estate market should help people move, form families, build stability, and participate in their communities. It should not become a machine that transfers wealth from younger households to older asset owners indefinitely.

Rebalancing the market does not require cheering for a crash. A crash would hurt families, damage the banking system, and create its own injustice. What Canada needs is a long period where incomes grow faster than home prices, housing supply expands, infrastructure catches up, and capital flows back toward productive enterprise.

That will feel uncomfortable for some investors. But it would be healthier for the country.

Conclusion

Canada’s economic challenge is not that we lack potential. It is that we have misallocated too much of our potential.

We turned housing into the primary wealth engine. We grew the population faster than our capacity could accommodate. We underbuilt homes and infrastructure. We made the productive investment too difficult. We allowed real estate gains to mask weak productivity.

The solution is not anti-immigration, anti-development, anti-environment, or anti-homeowner. The solution is balance.

Canada needs more homes, more infrastructure, more productive investment, more responsible resource development, and more economic growth per person—not just more people competing for the same limited housing supply.

The goal should be simple: a country where hard work leads to rising living standards, where young families can afford a home, where businesses want to invest, and where prosperity is built by creating value rather than merely bidding up land.

That is the Canada worth rebuilding.

SEPTEMBER UPDATE | AUGUST 2026 STATISTICS

Buyers keep the advantage heading into fall

Elevation Real Estate Group | RE/MAX Treeland Realty | Based on August 2026 statistics

The Fraser Valley remains a buyer's market as we enter September. August's latest statistics show weak demand and falling prices, but also a gradual easing of excess supply. New listings are retreating faster than sales, which could help the market find a better balance over time.

Our outlook is for a modest seasonal pickup in sales, continued price softness and generally declining inventory through fall. Langley townhomes and apartments look relatively more resilient, although the market has yet to establish a broad recovery.

Fewer sales, but fewer listings too

FVREB recorded 941 sales in August, down 13.6% from July and up 1.1% from August 2025. That annual increase is welcome, but year-to-date sales remain 5.4% below the first eight months of 2025. These are unadjusted figures, so the summer slowdown also needs to be viewed in its seasonal context.

Supply is easing too. New listings fell to 2,373, down 16.3% from July and 15.0% annually. Year-to-date new listings are down 12.2%, a larger decline than the 5.4% drop in sales. Active inventory declined to 9,787, down 2.6% for the month and 6.3% from a year ago, but still 33% above the 10-year seasonal average. Fewer listings may help the market stabilize eventually. For now, there is still plenty of choice relative to demand.

Prices are still adjusting

The composite benchmark price fell 0.9% in August to $869,900, 7.2% below a year earlier. All three major housing categories recorded monthly and annual declines.

A benchmark price tracks a home with typical characteristics. It is more useful for following price trends than the overall average sale price, which can change simply because a different mix of homes sells. August illustrates the difference: the overall average rose 0.5% from July even as the composite benchmark declined.

Apartments recorded the largest three-month decline at 3.7%, while detached homes had the largest August drop at 1.2%. Price pressure is broad, but its pace differs by property type.

The practical message for sellers is that last year's sale prices may be a poor guide to today's achievable value. Recent comparable sales and the homes currently competing for the same buyers deserve more weight.

Langley shows why local details matter

The regional sales-to-active listings ratio was about 10%, below the typical balanced range of 12% to 20%. However, the residential segments tell different stories. Calculating August sales against month-end inventory puts Fraser Valley detached homes at 10.1%, townhouses at 15.5%, and apartments at 10.9%.

Langley's corresponding ratios were 16.2%, 23.3%, and 15.5%. Townhouses had the strongest absorption, yet their benchmark still fell 0.6% in August. A single month's ratio can be volatile, and falling inventory can lift it without stronger sales. Langley townhouse sales actually declined 25.3% from July.

Langley apartment sales rose 35.4% annually, from 48 to 65, while active inventory fell 20.5%. The benchmark was essentially flat from July at $534,000, but remained 8.8% below a year ago. This is relative resilience, not proof that prices have bottomed.

Langley detached homes present a more cautious picture. Active inventory fell 22.0% annually, but the benchmark declined 1.4% in August and 2.8% over three months. A shrinking selection has not yet stopped price declines.

What we expect over the next few months

Our base case is a slow, uneven move toward stabilization, with continued buyer negotiating power and prices likely to finish fall somewhat below August levels. A sharp rebound is not our central expectation. This is our assessment of current conditions, not a guaranteed forecast.

September: We expect a modest sales rebound as households return from summer holidays. An increase from August alone would not establish a recovery. A post-Labour Day rise in new listings could also temporarily interrupt the decline in inventory. The key is whether sales improve faster than supply.

October: We will look for firmer evidence of demand. Rising sales alongside falling inventory would support a move toward balance. If the regional sales-to-active ratio stays near 10%, continued price softness would be more likely. Detached homes and apartment segments with abundant competing listings could remain under greater pressure.

November and December: We expect both sales and new listings to slow seasonally. Inventory may fall as listings expire or owners withdraw. That would improve the supply picture, but would not by itself demonstrate stronger buyer demand. Well-priced homes could hold up better than listings that have remained unsold for months.

We are watching three things: sales relative to active inventory, the pace of new listings, and whether benchmark prices flatten across several months. Stronger demand and continued supply reductions would improve our outlook. A wave of listings without matching sales, or weaker household confidence, would work in the other direction.

Rates and the economy: why caution remains

The Bank of Canada held its policy rate at 2.25% on September 2. It reported higher long-term bond yields, tighter financial conditions and inflation around 3%, with increased energy and tariff risks. Its next scheduled decision is October 28.

Our takeaway is that buyers should not build a fall moving plan around an assumed rate cut or immediate mortgage-rate relief. Improved financing costs could help demand, but employment confidence, affordability and the supply of homes also matter.

Statistics Canada's September 4 release showed national employment fell by 42,000 in August while unemployment held at 6.4%. Employment was little changed in BC. The national figures add reason for caution, but should not be read as a direct measure of job losses in the Fraser Valley.

BCREA's August 20 forecast projects provincial residential sales down 1.2% in 2026, then up 7.5% in 2027, with BC's average price down 1.2% this year. That is consistent with gradual improvement rather than an immediate rebound, but it is a provincial forecast, not a prediction for an individual Fraser Valley home.

How to approach this market

Buying: Use the extra time to compare homes, confirm financing and complete due diligence. Negotiate price, dates and appropriate conditions using comparable sales. Desirable Langley townhomes can face more competition than the regional headline suggests. Waiting solely for lower rates could mean facing more buyers if confidence improves.

Selling: Use recent comparable sales and current competing inventory together. Make the first weeks count with strong presentation and realistic pricing. If a fall sale matters, take qualified offers seriously and respond promptly to feedback. A listing that starts too high can spend months chasing the market.

Buying and selling: Compare the cost of the entire move. A lower selling price may be offset by savings on your next purchase, depending on the two market segments and your financing.

If you are considering a move in Langley or elsewhere in the Fraser Valley, we would be happy to walk through the recent sales and competing listings that matter for your plans. A regional headline is a starting point. Your next decision deserves a closer look.

Source: Fraser Valley Real Estate Board, August 2026 statistical package, released September 2, 2026, PDF pages 2-4 and 6. HPI changes follow the detailed table on page 6; the summary lists detached annual change as -8.4% rather than -8.3%. Regional sales and inventory totals include all property types; category comparisons cover detached homes, townhouses and apartments. Ratios shown to one decimal are calculated from the report. Benchmark prices are not valuations of individual properties. Read the full FVREB report.

Home prices across the Fraser Valley declined for the tenth consecutive month in January, with the all-residential Benchmark price falling to $897,200, as shown in the Benchmark Price image. This represents a 1.0 per cent month-over-month decrease and a 6.9 per cent year-over-year decline, marking the first time since spring 2021 that the composite benchmark has dipped below $900,000.

Sales Slow Despite Improved Affordability

As illustrated in the MLS® Sales image, the Fraser Valley Real Estate Board recorded 619 sales in January, down 32.6 per cent from December and 24.3 per cent below January 2025 levels. While new listings rose seasonally to 3,078 — up 128 per cent from December — activity remained 10 per cent below last year’s pace.

Overall inventory climbed to 7,711 active listings, sitting 11 per cent above December and 54 per cent above the 10-year seasonal average. With a sales-to-active listings ratio of eight per cent, as reflected in the market snapshot, the Fraser Valley remains firmly in buyer’s market territory (a balanced market typically ranges between 12 and 20 per cent).

“January opened the year with negligible momentum,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “Prices continued to weaken while at the same time selection remains high. Under normal market dynamics, these would be considered highly favourable conditions for buyers; however, the uncertainty of the past year continues to loom large, subduing buyer confidence and muting overall market activity.”

Price Breakdown by Property Type

The Housing Market Snapshot image highlights continued softening across all property categories:

• Detached Homes: Benchmark price of $1,373,100, down 1.1 per cent month-over-month and 7.4 per cent year-over-year. Average days on market: 55.

• Townhomes: Benchmark price of $773,100, down 1.0 per cent month-over-month and 6.5 per cent year-over-year. Average days on market: 50.

• Apartments/Condos: Benchmark price of $488,600, down 0.6 per cent month-over-month and 8.2 per cent year-over-year. Average days on market: 53.

Sales-to-active listings ratios remain in buyer’s market range across all segments, with detached homes at seven per cent, townhomes at 12 per cent, and apartments at 10 per cent.

Broader Affordability Pressures Persist

In the Executive Insight image, Baldev Gill, CEO of the Fraser Valley Real Estate Board, notes that affordability challenges extend beyond housing prices alone.

“Rising day-to-day expenses, combined with wages that have not kept pace, have created significant financial pressure. As a result, potential buyers are choosing to be more circumspect and are working with REALTORS® to develop timing strategies that meet their long-term objectives.”

Market Outlook

The data and visuals collectively point to a market characterized by elevated inventory, declining prices, and restrained buyer participation. While pricing conditions may appear favourable compared to peak years, confidence remains the missing ingredient needed to restore momentum.

As the Fraser Valley moves further into 2026, attention will remain focused on economic stability, borrowing conditions, and whether sustained pricing adjustments are sufficient to re-engage sidelined buyers.

As we head deeper into summer, the Fraser Valley real estate market continues to reflect a quieter tone—shaped largely by ongoing economic uncertainty. While activity has slowed, opportunities are quietly emerging for those prepared to take advantage of softer conditions.

Sales Remain Flat, But Inventory Grows

June saw a total of 1,195 home sales across the Fraser Valley, marking a modest 1% increase compared to May. While this month-over-month change was slight, it signals a relatively stable pace of sales as we move through the summer market. However, when compared to the same time last year, sales were down by 9%, continuing a trend of softer activity. More notably, sales remain 33% below the 10-year average, highlighting the ongoing caution among both buyers and sellers amid higher borrowing costs and broader economic uncertainty.

One of the more significant developments in June was the continued growth in housing inventory. Active listings climbed to nearly 11,000, up 2% from May and a substantial 30% increase year-over-year.

This rise in supply suggests that more homeowners are opting to list their properties, potentially in response to improved weather conditions or a desire to capture demand ahead of any future rate adjustments.

Interestingly, despite the increase in total inventory, the number of new listings coming to market actually declined, down 10% compared to May. This shift has helped bolster existing inventory levels, giving buyers more options and negotiating power. The result is a sales-to-active listings ratio of 11%, reinforcing that the Fraser Valley continues to sit firmly in buyer’s market territory—a condition typically defined by ratios below 12%.

Looking ahead, market dynamics may continue to shift depending on interest rate changes and buyer confidence. For now, increased inventory and moderated demand are creating a more balanced playing field, especially for those looking to enter the market or upsize with less competition.

More Choices, Less Pressure

For buyers who are financially ready and able to navigate today’s uncertainty, this market offers more options and less competition. With prices softening and homes staying on the market longer, it could be the right time to act—especially for first-time buyers or those looking for more space.

Homes Taking Longer to Move

In June, the average time to sell varied by property type:

• Condos: 39 days

• Detached Homes: 35 days

• Townhomes: 30 days

This extra time reflects a more cautious buyer pool—but also creates opportunities for thoughtful negotiation.

Pricing Trends Continue to Dip

Home prices across the Fraser Valley edged down again in June, continuing the softening trend we’ve seen over recent months.

Slower sales activity, growing inventory, and cautious buyer sentiment are all contributing to downward pressure on prices across all property types. Year-over-year and month-over-month declines suggest a more balanced market, with buyers regaining negotiating power and sellers needing to price strategically to stay competitive.

Here’s how benchmark prices shifted in June:

• Detached Homes: $1,458,600 (↓1.6% from May, ↓4.6% from June 2024)

• Townhomes: $824,400 (↓1.0% from May, ↓3.1% from June 2024)

• Apartments: $526,500 (↓1.2% from May, ↓4.5% from June 2024)

If this trend continues, we may see greater affordability opportunities for buyers in the months ahead—especially as more inventory enters the market and competition remains low.

Where Do You Fit Into This Market?

If you're wondering whether now is the right time to buy, sell, or hold—you're not alone. Every market offers its own set of opportunities, and what makes sense for one person may not be right for another.

📍 Whether you’re considering your first home purchase, thinking of upsizing, or planning a long-term move, having the right information and guidance makes all the difference.

We’d be happy to help you explore what today’s market means for you. Let’s start the conversation—on your terms, and with your goals in mind.

Contact  Us

After a quiet start to the spring season, the Fraser Valley housing market showed a modest but notable recovery in May. While sales activity remains well below historical norms, the month brought a hint of renewed momentum — a welcome sign for both buyers and sellers keeping a close eye on market conditions.

According to data from the Fraser Valley Real Estate Board (FVREB), home sales on the Multiple Listing Service® (MLS®) reached 1,183 in May — a 13% increase from April. However, that figure still sits 22% below May 2024 levels and 36% under the 10-year seasonal average. This indicates that while activity is picking up, we're still operating in a slower-than-usual market.

Inventory Levels Continue to Climb

One key trend that continues to shape the landscape is inventory. Active listings rose by 6% month-over-month in May, reaching 10,626 — a 34% increase compared to last year and 54% above the 10-year average for this time of year. Additionally, new listings climbed by 7%, with over 4,000 properties hitting the market last month.

With more homes available, buyers now have more options than they’ve had in years.

But the flip side is that sellers are facing more competition. Homes that are well-priced and aligned with current market conditions are moving — others are sitting, especially if sellers are holding out for stronger pricing.

The sales-to-active listings ratio currently sits at 11%, keeping the Fraser Valley firmly in buyer’s market territory. For context, a balanced market typically has a ratio between 12% and 20%.

What’s Influencing Buyer Behaviour?

Despite the slight uptick in sales, many potential buyers are still taking a cautious approach. Economic uncertainty, concerns around inflation, job security, and the rising cost of living are continuing to impact buyer confidence. Until those pressures ease, market activity may remain subdued.

Benchmark Prices Edge Downward

Home prices across all property types saw a small dip in May. The composite Benchmark price in the Fraser Valley now sits at $963,200, down 1% from April.

Here’s how prices shifted across different housing types:

• Single-Family Detached Homes: Now benchmarked at $1,481,900, prices fell 1.6% month-over-month and 3.2% year-over-year.

• Townhomes: Averaging $832,800, prices remained relatively flat, slipping just 0.03% from April, but down 2.5% from last year.

• Condos/Apartments: Currently at $532,700, prices declined by 0.9% from April and 4.0% compared to May 2024.

Homes Are Still Selling — But It’s Taking Time

For those wondering about how long it’s taking to sell, the average time on market in May was:

• 34 days for detached homes

• 33 days for condos

• 27 days for townhomes

These numbers suggest that while buyers are out there, many are still hesitant to jump in quickly.

What Does This Mean for You?

For Buyers:

With inventory levels high and prices showing slight declines, this could be a strategic time to enter the market — especially if you're looking for options and negotiating power. While some buyers are still holding back, those who are prepared and pre-approved may find great opportunities before competition intensifies again.

For Sellers:

Today’s market is more competitive, and pricing your home accurately is key. The good news? Homes that are well-prepared and priced right are still selling. If you’re not in a rush, you may choose to wait — but if you're ready to list, working with an experienced team can make all the difference.

Every Home. Every Client. Every Goal Is Unique.

At Elevation Real Estate, we don’t believe in a one-size-fits-all approach. Whether you're buying your first home or preparing to sell an investment property, we’ll help you navigate today’s market with clarity and confidence.

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Reach out to our team for a personalized market assessment and guidance tailored to your specific goals.

What Buyers Are Experiencing

This is one of the most buyer-friendly markets we've seen in years. Inventory is high, competition is low, and prices are holding relatively steady. In many cases, buyers can take their time — viewing multiple similar properties without pressure to make an offer on the spot. It's a sharp contrast to the high-paced bidding wars of past years.

Homes are taking an average of 32 days to sell for detached properties, and 29 days for townhomes and condos, suggesting buyers are deliberate in their decision-making.

For those in the market, this is an ideal time to negotiate — especially with the sales-to-active listings ratio sitting at just 10%, a clear indicator of a buyer’s market.

Why Aren’t More Homes Selling?

Despite favorable conditions for buyers, overall sales numbers remain underwhelming. April saw just 1,043 sales, virtually unchanged from March and down 29% from the same time last year.

Several factors appear to be holding buyers back: continued economic uncertainty, interest rate anxiety, and broader caution in the face of mixed signals about where the market — and the economy — are headed.

While there's cautious optimism with new federal leadership potentially introducing pro-growth measures, many prospective buyers are still waiting to see concrete changes before committing.

What This Means for Sellers

For sellers, the message is clear: pricing and presentation matter more than ever. With inventory up and demand relatively flat, standing out in the market is essential. Small price reductions or strategic staging may be necessary to attract serious offers.

Benchmark prices have remained relatively flat month-to-month:

• Detached homes: $1,506,600 (+0.1% from March, -1.3% YoY)

• Townhomes: $833,100 (-0.1% from March, -2.4% YoY)

• Apartments: $537,800 (-0.6% from March, -3.2% YoY)

Bottom Line

Whether you're buying or selling, the Fraser Valley market offers unique opportunities — but also calls for strategy. Buyers have more power than they’ve had in years, and sellers need to be realistic, proactive, and informed.

{See Home Price Trends in Your Area and Connect with us to explore MLS® HPI data : https://rem.ax/4k4iEDd )

The market may not be moving fast, but that doesn’t mean you can’t. In fact, now might be the perfect time to plan your next move.

Thinking about making a move?

Whether you're curious about your buying power or wondering how to position your home in today’s market, Elevation Real Estate Group is here to guide you every step of the way.

Get a free home evaluation or schedule a personalized buyer’s strategy session with our team today.

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The Fraser Valley's spring housing market is experiencing a notable slowdown, presenting both challenges and opportunities for homeowners, buyers, and sellers. March sales figures were nearly 50% below the 10-year average, indicating a significant shift from typical spring activity.

Key Market Insights:

The Fraser Valley real estate market is seeing significant changes. Sales, while showing a slight monthly uptick, remain considerably lower than last year. Simultaneously, new listings have surged, creating a decade-high inventory. This dynamic brings:

• Increased Choices for Buyers: More listings mean a wider selection of homes.

• Heightened Competition for Sellers: Sellers face more competition in attracting buyers.

Economic uncertainty is creating a gap between buyer and seller expectations, impacting pricing dynamics. Currently, the market favors buyers, as indicated by the sales-to-active listings ratio of 11%.

On average, single-family detached homes are taking around 31 days to sell, while condos are typically on the market for about 33 days. Townhomes are selling slightly faster, with an average of 27 days on the market. These figures reflect a slower pace of activity compared to previous years, as the region experiences increased inventory and heightened competition among sellers.

Benchmark prices have seen a slight monthly increase, but a year-over-year decline. Specifically, single-family detached homes are at $1,505,500 (up 0.4% from February, down 1.2% from March 2024), townhomes at $833,700 (up 0.5% from February, down 1.7% from March 2024), and apartments/condos at $540,900 (up 0.5% from February, down 2.6% from March 2024).

Navigating the Current Market:

In this shifting market, sellers should prioritize realistic pricing and ensure their homes are well-presented for showings, seeking professional guidance to navigate the increased competition. Buyers, on the other hand, can capitalize on the increased inventory and should secure mortgage pre-approval, exercising patience in what is currently a slower market.

Personalized Guidance is Key:

Every real estate situation is unique. To navigate this changing market successfully, it’s essential to discuss your specific needs and goals with a knowledgeable real estate professional. They can provide tailored advice and strategies to help you achieve the best possible outcome.

Ready to Make Your Next Move?

Whether you're buying, selling, or simply exploring your options, the team at Elevation Real Estate Group is here to help. Contact us today for expert guidance and personalized service in the Fraser Valley's dynamic housing market.

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