Fraser Valley home prices back to pandemic-era levels under weight

of economic headwinds and sustained inventory

SURREY, BC – Home prices in the Fraser Valley fell for the tenth consecutive month in January, pushing the

Benchmark price below $900,000 for the first time since spring 2021.

The Benchmark price for a typical home in the Fraser Valley dropped one per cent in January to $897,200,

down 6.9 per cent year-over-year. The continued softening of prices wasn’t enough to get buyers off the

sidelines, as the Fraser Valley Real Estate Board recorded 619 sales on its Multiple Listing Service® (MLS®) in

January, a 33 per cent decrease from December, and 24 per cent below sales from the same month last

year. New listings increased 128 per cent in January to 3,078, reflecting the typical seasonal patterns;

however, activity remained 10 per cent below last year’s levels.

“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 or so continues to loom large, subduing buyer confidence and muting overall

market activity.”

Overall inventory remains above seasonal norms for the Fraser Valley, with 7,711 active listings, up 11 per

cent from December and 54 per cent above the 10-year seasonal average.

The Fraser Valley remains firmly in a buyer’s market, with an overall sales-to-active listings ratio of eight

per cent in January, down five per cent from December. A balanced market is typically defined by a ratio

between 12 and 20 per cent.

Across the Fraser Valley in January, the average number of days to sell a single-family detached home was

55 days, while for a condo it was 53 days. Townhomes took, on average, 50 days to sell.

“Affordability challenges facing many households today extend well beyond housing costs alone,” said

Baldev Gill, CEO of the Fraser Valley Real Estate Board. “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 with respect to purchasing decisions and are working with REALTORS® to

develop timing strategies that meet their long-term objectives.”

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,373,100 the Benchmark price for an FVREB single-family detached

home decreased 1.1 per cent compared to December 2025 and decreased 7.4 per cent compared

to January 2025.

• Townhomes: At $773,100 the Benchmark price for an FVREB townhome decreased one per cent

compared to December 2025 and decreased 6.5 per cent compared to January 2025.

• Apartments: At $488,600 the Benchmark price for an FVREB apartment/condo decreased 0.6 per

cent compared to December 2025 and decreased 8.2 per cent compared to January 2025.

https://www.fvreb.bc.ca/statistics/Package202601.pdf