SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year.

The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36% increase from January, but 38% below the ten-year seasonal average. New listings declined 9% in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.

“Buyer-friendly conditions continue to define the Fraser Valley market,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “While we did see a welcome bump in sales over January, they remain well below seasonal averages. With ample inventory and soft prices, this window may prove to be a key buying opportunity, particularly as prices settle. As we move closer to spring, we’re hopeful that improved
economic stability will encourage more buyers to re-enter the market.”

Overall inventory remains above seasonal norms for the Fraser Valley, with 8,344 active listings, up 8% from January and 51% 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 ten per cent in February. A balanced market is typically defined by a ratio between 12% and 20%.

Across the Fraser Valley in February, the average number of days to sell a single-family detached home was 47 days, while for a condo it was 45 days. Townhomes took, on average, 39 days to sell.

“Many households are in a holding pattern right now, waiting for clearer signs that the economy is finding its footing,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Elevated economic uncertainty over the past year has cast a shadow over families’ big financial decisions, including buying or selling a home. In times like these, a professional REALTOR® plays a critical role, offering trusted advice, local market insight, and the confidence needed to make informed moves.”

The composite Benchmark price for a typical home in the Fraser Valley decreased 0.2% in February, to $895,100.

MLS® HPI Benchmark Price Activity

• Single Family Detached : At $1,370,900 the Benchmark price for an FVREB single-family detached home decreased 0.2% compared to January 2026 and decreased 8.6% compared to February 2025.
• Townhomes : At $770,700 the Benchmark price for an FVREB townhome decreased 0.3% compared to January 2026 and decreased 7.1% compared to February 2025.
• Apartments : At $488,300 the Benchmark price for an FVREB apartment/condo decreased 0.1% compared to January 2026 and decreased 8.9% compared to February 2025.

Click here to read the market report.

Fraser Valley Market Shows Early Bloom with February Sales Lift by FVREB