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% 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% decrease from December, and 24% below sales from the same month last
year. New listings increased 128% in January to 3,078, reflecting the typical seasonal patterns; however, activity remained 10% 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% from December and 54% 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 8% in January, down 5% from December. A balanced market is typically defined by a ratio between 12% and 20%.
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% compared to December 2025 and decreased 7.4% compared to January 2025.
• Townhomes : At $773,100 the Benchmark price for an FVREB townhome decreased 1% compared to December 2025 and decreased 6.5% compared to January 2025.
• Apartments : At $488,600 the Benchmark price for an FVREB apartment/condo decreased 0.6% compared to December 2025 and decreased 8.2% compared to January 2025.
Click here to view FVREB January 2026 Housing Market Report.
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