September 2026 Fraser Valley Market Update

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.