Fraser Valley Real Estate Market

Falling prices open the door for Fraser Valley move-up buyers

A modest increase in Fraser Valley home sales in May suggests buyers remain engaged, albeit cautiously as economic uncertainty continues to temper the pace of the spring market.

The Fraser Valley Real Estate Board recorded 1,124 sales on its Multiple Listing Service® (MLS®) in May, a 0.5 per cent increase from April, but five per cent below the same month last year. Single-family homes remained the most active segment of the Fraser Valley market in May, generating more sales than townhouses and apartments.

“We’re seeing limited activity from first-time buyers right now, with much of the market being driven by homeowners looking to move up,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “As prices in the detached segment have become more attainable, buyers with existing equity are finding opportunities to transition into larger homes and market segments that were out of reach just a few years ago.”

Sellers were less active in May, with new listings falling both month-over-month and year-over-year as some homeowners appear to be waiting for stronger market conditions before listing.

However, the Fraser Valley continues to offer buyers an abundance of choice, with 10,140 active listings on the market in May, keeping inventory well above historical norms.

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

“Many households are understandably approaching major financial decisions with caution right now,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Between economic uncertainty, concerns about job security, and the continued pressure of higher everyday costs, confidence has been slow to recover. At the same time, buyers who are financially prepared are finding some of the most favourable market conditions we’ve seen in some time.”

Across the Fraser Valley in May, the average number of days to sell a single-family detached home was 35 days, while for a townhome, it was 37 days. Condos took, on average, 40 days to sell.

After two months of gains, the composite Benchmark price for a typical home in the Fraser Valley dipped, down 0.7 per cent in May, to $893,300.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,366,500 the Benchmark price for an FVREB single-family detached home decreased 0.6 per cent compared to April 2026 and decreased 7.9 per cent compared to May 2025.

• Townhomes: At $769,500 the Benchmark price for an FVREB townhome decreased 0.3 per cent compared to April 2026 and decreased 7.6 per cent compared to May 2025.

• Apartments: At $483,800 the Benchmark price for an FVREB apartment/condo decreased 1.5 per cent compared to April 2026 and decreased 8.8 per cent compared to May 2025.

Greater Vancouver Real Estate Market

Apartment sales lag, other housing segments steady

Led by slow sales in the apartment segment, home sales registered on the MLS® in Metro Vancouver* were down nearly four per cent in May compared to last year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,150 in May 2026, a 3.5 per cent decrease from the 2,228 sales recorded in May 2025. This was 26.6 per cent below the 10-year seasonal average (2,930).

“While attached sales held relatively steady and detached sales edged up roughly one per cent in May, apartment sales were down about seven per cent year-over-year, which weighed down the overall sales total,” said Andrew Lis, GVR chief economist and vicepresident data analytics. “Even then, apartment sales were not down uniformly across all regions – some of the larger areas such as North and East Vancouver saw increases relative to last year.”

There were 6,115 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2026. This represents a 7.6 per cent decrease compared to the 6,620 properties listed in May 2025. This was 1.3 per cent above the 10-year seasonal average (6,036).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,917, a one per cent decrease compared to May 2025 (17,094). This is 34.6 per cent above the 10-year seasonal average (12,567).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for May 2026 is 13.1 per cent. By property type, the ratio is 10.7 per cent for detached homes, 15.4 per cent for attached, and 14.2 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Price trends across all housing types were flat month-over-month, as a healthy level of inventory easily absorbed the relatively muted level of overall demand in the market,” Lis said. “Year-to-date, sales have come in just shy of our forecast to this point in the year. With demand tracking our forecast so closely, it’s reasonable to expect a calm and orderly summer market, as no obvious near-term catalysts loom over the horizon to move the market significantly in either direction.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,100,700. This represents a 6.2 per cent decrease over May 2025 and a 0.2 per cent increase compared to April 2026.

Sales of detached homes in May 2026 reached 660, a 0.9 per cent increase from the 654 detached sales recorded in May 2025. The benchmark price for a detached home is $1,847,900. This represents a 6.9 per cent decrease from May 2025 and a 0.4 per cent increase compared to April 2026.

Sales of apartment homes reached 1,009 in May 2026, a 7.2 per cent decrease compared to the 1,087 sales in May 2025. The benchmark price of an apartment home is $697,800. This represents a 7.9 per cent decrease from May 2025 and a 0.7 per cent decrease compared to April 2026.

Attached home sales in May 2026 totalled 463, a 1.3 per cent decrease compared to the 469 sales in May 2025. The benchmark price of a townhouse is $1,048,200. This represents a 5.1 per cent decrease from May 2025 and a 0.5 per cent increase compared to April 2026.