October 2026 market note: more sales, but the Fraser Valley is still a buyers' marketOctober 2026 market note: more sales, but the Fraser Valley is still a buyers' market

The Fraser Valley had a busier October than September, but the balance of the market barely moved. Sales rose 14% from the month before, inventory eased, and the region stayed a buyers' market. Prices were close to flat for the month and remain well below where they were a year ago.

The month in numbers

The Fraser Valley Real Estate Board recorded 1,051 sales on its Multiple Listing Service® (MLS®) in October: up 14% from September and down 6% from October 2025.

• New listings: 2,551, down 10% from September, a normal seasonal slowdown.
• Active listings: 9,164, down 6% from September and 10% from a year ago.
• Sales-to-active listings ratio: 11%. A balanced market is usually defined as 12% to 20%, so the region is still in buyers' territory.
• Composite benchmark price: $860,000, down 0.1% for the month and 6.4% year over year.

By home type

• Detached: benchmark $1,293,800, down 0.5% from September and 8.5% from a year ago. Average 50 days to sell.
• Townhomes: benchmark $742,300, down 0.4% from September and 5.5% from a year ago. Average 37 days to sell.
• Apartments: benchmark $460,800, down 0.2% from September and 8.1% from a year ago. Average 44 days to sell.

Detached homes led sales activity. The Board's chair suggested that the price correction in that segment is bringing detached homes within reach for more buyers. Townhomes sold fastest, in 37 days on average.

How I read it

Two things stand out to me. First, more sales on less inventory is a small step toward balance, but one month is not a trend, and at 11% the ratio is still below the balanced range. Second, the Board's CEO noted that interest rates have recently moved higher and could rise further. Lower prices help affordability; higher borrowing costs work against it. For most buyers the monthly payment, not the price, is the number that decides.

If you are selling this fall

• Price from what has sold in the last few months in your segment and from the homes you will compete with this weekend. With prices down year over year, last spring's comparables are not a reliable guide.
• Expect buyers to take their time. Average days to sell ran from 37 to 50 depending on the home type. Plan your timeline and your next purchase around that.
• Presentation matters more when buyers have choice: preparation, photography and the first two weeks on the market.

If you are buying

• Confirm a pre-approval with a rate hold before you look seriously. If rates rise, a hold protects the number you planned around.
• You have room to negotiate on terms as well as price in most segments. Keep your inspection and financing subjects.
• Detached homes have seen the largest price decline over the year. If a house is your goal, it is worth running the numbers again.

Your area

These are Fraser Valley-wide figures, covering Surrey, Langley, North Delta, White Rock, Abbotsford and Mission. Area-by-area figures, including the Greater Vancouver areas I serve, are on the Market Knowledge page and on each neighbourhood guide. If you would like to know what this means for your home specifically, I am happy to prepare a home value analysis.