Fraser Valley sellers feel the squeeze as buyers take their time

SURREY, BC – A deepening buyer’s market in the Fraser Valley is giving buyers more time to make their move, as sales continued to slow in August.

The Fraser Valley Real Estate Board recorded 941 sales on its Multiple Listing Service® (MLS®) in August, a 14 per cent decrease from July but one per cent above sales from the same month last year. The year-over-year increase marks only the second annual gain since the beginning of 2025, a modest bright spot in a market where overall demand remains subdued and prices continue to ease.

“We’re seeing a bit of a tug-of-war between buyers and sellers right now,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “Some buyers are seeing an opportunity to negotiate below asking price, while sellers who need to sell are more likely to accept lower offers. That dynamic is contributing to the gradual decline in home prices we are seeing across the Fraser Valley, which ultimately creates more opportunities for those looking to get into the market.”

The summer slowdown was also reflected in fewer homes coming to market, as some sellers held off on listing. The Fraser Valley saw 2,373 new listings in August—a 16 per cent decline from July and 15 per cent below the same month last year. Overall inventory also edged down in August, with 9,787 active listings on the market, a three per cent decline from July, but still 33 per cent above the 10-year seasonal average.

The Fraser Valley remains in a buyer’s market with a sales-to-active listings ratio of 10 per cent in August. A balanced market is typically defined by a ratio between 12 and 20 per cent.

“While some buyers remain on the sidelines amid headlines about tariffs and high gas prices, the Fraser Valley housing market continues to offer some compelling choices hiding in plain sight,” said Anthony Boone, Interim CEO of the Fraser Valley Real Estate Board. “Prices are now as much as 15 per cent lower than they were three years ago, and these conditions are expected to continue to favour buyers for the foreseeable future.”

Across the Fraser Valley in August, the average number of days to sell both a single-family detached home and a condo was 45 days. Townhomes took, on average, 37 days to sell.

The composite Benchmark price for a typical Fraser Valley home declined 0.9 per cent in August to $869,900, a seven per cent decrease compared to August 2025.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,319,600 the Benchmark price for an FVREB single-family detached home decreased 1.2 per cent compared to July 2026 and decreased 8.4 per cent compared to August 2025.

• Townhomes: At $750,600 the Benchmark price for an FVREB townhome decreased 0.9 per cent compared to July 2026 and decreased 7.1 per cent compared to August 2025.



• Apartments: At $466,100 the Benchmark price for an FVREB apartment/condo decreased 0.7 per cent compared to July 2026 and decreased 8.9 per cent compared to August 2025.