SURREY, BC – Home prices in the Fraser Valley continued their downward trend in September, marking the sixth straight month of declines, amid high inventory.

The Benchmark price for a typical home in the Fraser Valley dropped 1% in September to $926,300, down 5.4% year-over-year. The continued softening of prices may be encouraging some buyers back into the market, as the Fraser Valley Real Estate Board recorded 962 sales on its Multiple Listing Service® (MLS®) in September, an increase of 3% over August. September sales were down 2% year-over-year and 28% below the 10-year average.

“As prices continue to weaken, the market is showing hopeful signs of renewed confidence,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “While recent economic uncertainty seems to have weighed more heavily here in the Fraser Valley, some buyers are beginning to re-engage in the market, a positive signal heading into the fall.”

After sitting out for part of the summer, sellers reemerged in September, with new listings up 23% month-over-month to 3,447; up 3% year-over-year. Overall inventory remains at decade-high levels, with 10,583 active listings, up 1% from August and up 17% from September 2024.

The Fraser Valley remains entrenched in a buyer’s market with an overall sales-to-active listings ratio of 9% in September. The market is considered balanced when the ratio is between 12% and 20%.

Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 37 days; while for a townhome it was 38 days. Condos took, on average, 39 days to sell.

“It is unreasonable to single out any one factor or policy driving today’s market dynamics,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “That said, there is a growing consensus within the housing and development sector calling for greater measures to incentivize investors to help drive new supply growth, which would certainly have a positive impact on affordability.”

MLS® HPI Benchmark Price Activity

• Single Family Detached : At $1,420,000 the Benchmark price for an FVREB single-family detached home decreased 1.2% compared to August 2025 and decreased 5.4% compared to September 2024.
• Townhomes : At $795,600 the Benchmark price for an FVREB townhome decreased 1.5% compared to August 2025 and decreased 4.7% compared to September 2024.
• Apartments : At $510,400 the Benchmark price for an FVREB apartment/condo decreased 0.7% compared to August 2025 and decreased 6.3% compared to September 2024.

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Sustained Elevated Inventories Soften Fraser Valley Home Prices Further, Spurring Bump in Sales by FVREB