SURREY, BC – Home prices in the Fraser Valley continued to become more affordable in June, with Benchmark prices now sitting 26% below their 2022 peak. Prices edged down another 0.9% during the month, reinforcing buyer-friendly conditions despite a sluggish market.

The Fraser Valley Real Estate Board recorded 1,147 sales on its Multiple Listing Service® (MLS®) in June, a 2% increase from May, but 4% below the same month last year. After pulling back in May, seller activity levelled off in June, with 3,303 new listings—virtually unchanged from May—but still 9% below last year’s pace.

“The Fraser Valley spring market has underperformed expectations despite improving affordability and more choice for buyers,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “Opportunities are clearly there. The question is whether qualified buyers on the sidelines recognize the value available today. For those looking to enter the market or move up, current conditions present a compelling opportunity.”

The Fraser Valley enters the summer market with 10,377 active listings, maintaining a level of supply that continues to keep competition in check and create favourable conditions for buyers.

With a sales-to-active listings ratio of 11% in June, the Fraser Valley remains in buyer’s market territory. A balanced market is typically defined by a ratio between 12% and 20%.

“Buyers are still holding back despite some improving conditions,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The recent agreement between Build Canada Homes and BC Housing may help add supply and improve access to ownership, however, with details still unclear it’s difficult to assess the practical impact for buyers.”

Across the Fraser Valley in June, the average number of days to sell a single-family detached home was 37 days, while for a townhome, it was 33 days. Condos took, on average, 38 days to sell.

The composite Benchmark price for a typical Fraser Valley home declined seven per cent year-over-year to $884,800.

MLS® HPI Benchmark Price Activity

• Single Family Detached : At $1,350,200 the Benchmark price for an FVREB single-family detached home decreased 1.2% compared to May 2026 and decreased 7.7% compared to June 2025.
• Townhomes : At $764,100 the Benchmark price for an FVREB townhome decreased 0.7% compared to May 2026 and decreased 7.3% compared to June 2025.
• Apartments : At $476,400 the Benchmark price for an FVREB apartment/condo decreased 1.5% compared to May 2026 and decreased 9.1% compared to June 2025.

Click here to view the June market report.

Fraser Valley is Becoming More Affordable – but Buyers are Still Holding Back by FVREB