June 2026 Fraser Valley Market Update: Townhouses Hold, Condos Soften

Update: our July 2026 Fraser Valley market update is now live, with the newer FVREB numbers.

Condo sales in the Fraser Valley fell 14% compared to a year ago in June, and that divergence is exactly what the FRIVE team has been watching. Townhouse sales rose 1%. Same region, same month, two different markets, and if you only read the headline benchmark, you'd miss the split entirely.

That split is the story of June 2026, and it matters a lot depending on which type of home you're shopping for. We want to walk you through what the Fraser Valley Real Estate Board's June numbers actually say, and what they mean if you're trying to buy your first place or move up this summer.

The June 2026 numbers at a glance

Metric	June 2026	Change
Composite benchmark price	$884,800	−0.9% month-over-month, −7% year-over-year
Detached benchmark	$1,350,200	−1.2% MoM, −7.7% YoY
Townhouse benchmark	$764,100	−0.7% MoM, −7.3% YoY
Condo/apartment benchmark	$476,400	−1.5% MoM, −9.1% YoY
Total residential sales	1,147	+2.0% MoM, −4.0% YoY
New listings	3,303	+0.1% MoM, −8.7% YoY
Active listings	10,377	+2.3% MoM, −4.3% YoY
Sales-to-active ratio	11%	Buyer's market (below 12%)
Average days to sell (detached / townhome / condo)	37 / 33 / 38	,

Source: Fraser Valley Real Estate Board, June 2026 Statistics Package. Benchmark prices are the board's MLS Home Price Index figures for a typical home of each type.

Townhouses hold while condos soften

The June data tells a clear property-type story. Townhouses were the only segment where sales rose year over year, 317 sales, up 1.0% from June 2025. Condo sales fell hardest, down 14.1% to 293. Detached sat in between at 420 sales, down 2.6%.

Prices followed the same pattern. The townhouse benchmark eased just 0.7% for the month and 7.3% for the year, the smallest drop of any type. Condos fell the most, down 1.5% for the month and 9.1% year over year to a benchmark of $476,400. So the segment with the softest sales also has the softest prices, and that segment is the one most first-time buyers are shopping in.

Our read is that this reflects who's active right now. Move-up buyers wanting a bit more space are keeping townhouse demand steady, while first-time condo buyers, the group most sensitive to rates and job security, are the ones holding back. We could be wrong; one month doesn't confirm a trend. But it lines up with what we've been seeing on showings this spring.

What the sales-to-active ratio actually tells you

If you're new to this, the sales-to-active-listings ratio is one of the most useful single numbers in a market report. It's the number of homes that sold in the month divided by the number sitting active for sale. A low ratio means lots of supply relative to demand, which hands buyers more room to negotiate.

Real estate boards generally read anything below 12% as a buyer's market, 12% to 20% as balanced, and above 20% as a seller's market. The Fraser Valley's overall ratio in June was 11%, buyer's territory.

Here's the detail the headline hides. If you divide each segment's June sales by its active listings from the board's own table, the condo market runs near 13% and detached near 12%, both buyer-friendly, while townhouses sit closer to 18%, nearly balanced. In plain terms: you have the most negotiating leverage on a condo right now and the least on a townhouse. If a townhouse is what you actually want, don't assume the "buyer's market" headline gives you as much room as it sounds.

Inventory: a problem or a window?

The Fraser Valley started the summer with 10,377 active listings. That's up 2.3% from May and one of the deeper supply levels we've seen in years, even though it's down 4.3% from a year ago because fewer sellers are listing (new listings were down 8.7% year over year).

For a buyer, deep inventory is a window, not a warning. More homes to choose from means less pressure to write an offer the same afternoon you tour, and more willingness from sellers to negotiate on price, on completion dates, and on repairs. The average condo took 38 days to sell and the average townhome 33 days. That pace gives you time to read a full set of strata documents, book an inspection, and get your financing condition properly cleared before you commit.

FVREB Chair Ishaq Ismail put the buyer opportunity plainly: "The Fraser Valley spring market has underperformed expectations despite improving affordability and more choice for buyers. Opportunities are clearly there. The question is whether qualified buyers on the sidelines recognize the value available today."

The rate backdrop

Mortgage math still drives most first-time purchases, so the Bank of Canada matters here. On June 10, 2026, the Bank held its policy interest rate at 2.25%, its fifth straight decision without a change. The next rate announcement is scheduled for July 15, 2026.

A steady policy rate means the moving part in your monthly payment right now is the lender's own pricing, not the Bank of Canada. Variable rates track the policy rate closely, while fixed rates move with bond yields and can drift week to week. We're not going to quote you a specific rate here, because published rates change constantly and vary by lender, confirm current numbers with a mortgage broker before you build a budget around any figure. What the hold does tell you is that the emergency-era swings of 2022 to 2024 have settled for now, which makes it easier to plan.

Where a first-time buyer can actually get in

Averages across the whole Fraser Valley can feel out of reach. The more useful question is where the entry points sit today. Looking at the board's June sub-area benchmarks, the most affordable condo markets were Abbotsford at $390,100 (down 11.3% year over year) and North Surrey at $408,900 (down 11.8%). Mission condos sat at $422,900. On the townhouse side, Abbotsford ($606,500) and North Surrey ($692,600) were the most reachable benchmarks.

Those are the numbers that make a first home realistic for a dual-income household, especially paired with the programs that lower your entry cost. If you're a year or more out, opening a First Home Savings Account is almost always the first move, and it's worth knowing your minimum down payment math before you tour. We've broken down the local picture city by city for Abbotsford, Surrey, and Langley too. When you're ready to see what's actually listed, browse condos for sale in Surrey or Abbotsford.

For move-up buyers

If you already own and you're thinking about a bigger place, June's split works in your favour in a specific way. You'd likely be selling a condo or smaller townhouse, the segments with the deepest discounts, and buying a townhouse or detached home that has also come down but held a little firmer. Both sides of that trade are cheaper than a year ago, and detached prices fell 7.7% year over year, more than townhouses did.

The trade-off is timing your sale and purchase in a slower market where homes take a month or more to move. We usually suggest move-up buyers get clear on their financing and talk through a sale-and-purchase sequence before listing, so a slow sale doesn't box you into an offer you'd rather not accept. Our buying guide walks through how we think about that order.

Looking ahead to July

The number we're watching is whether the condo segment finds a floor. Condo sales were up 11.4% from May even as they trailed last June, so there may be first-time buyers starting to move on the improved affordability. The July 15 Bank of Canada decision is the other thing to watch, another hold would keep conditions stable, while any surprise could shift buyer psychology quickly. Summer is usually a quieter selling season, so we'd read a strong July as a more meaningful signal than a strong spring month.

Key takeaways

• The Fraser Valley composite benchmark fell to $884,800 in June 2026, down about 7% year over year and roughly 26% below the 2022 peak.
• The market split by type: townhouse sales rose 1% year over year while condo sales fell 14.1%.
• Condos saw both the softest sales and the largest price drop (−9.1% YoY), making them the most negotiable segment.
• Townhouses held firmest on price and are closer to a balanced market, so buyers have less room there than the headline suggests.
• Inventory sat at 10,377 active listings with an 11% sales-to-active ratio, a buyer's market by industry definition.
• The Bank of Canada held its policy rate at 2.25% on June 10, with the next decision July 15, 2026.
• The most affordable condo entry points were Abbotsford ($390,100) and North Surrey ($408,900).

Frequently asked questions

What was the Fraser Valley composite benchmark price in June 2026? The MLS Home Price Index composite benchmark for a typical Fraser Valley home was $884,800 in June 2026, down 0.9% from May and down about 7% from June 2025, according to the Fraser Valley Real Estate Board. The board noted benchmark prices are now roughly 26% below their 2022 peak.

Are Fraser Valley condo or townhouse sales rising in June 2026? They moved in opposite directions. FVREB recorded 317 townhouse sales in June 2026, up 1.0% from June 2025, while apartment/condo sales came in at 293, down 14.1% year over year. Detached sales were 420, down 2.6%. Townhouses were the only segment with more sales than a year earlier.

What is the Bank of Canada's policy rate as of June 2026? The Bank of Canada held its target for the overnight rate at 2.25% on June 10, 2026, its fifth consecutive hold, with the Bank Rate at 2.5%. The next scheduled rate decision is July 15, 2026.

Is the Fraser Valley a buyer's or seller's market in June 2026? It's a buyer's market. FVREB reported an overall sales-to-active-listings ratio of 11% in June 2026. Real estate boards generally define below 12% as a buyer's market, 12% to 20% as balanced, and above 20% as a seller's market. The condo and detached segments are the most buyer-friendly; townhouses are closer to balanced.

What are the cheapest condo and townhouse entry points in the Fraser Valley in June 2026? Among FVREB sub-areas in June 2026, the lowest condo benchmarks were Abbotsford at $390,100 and North Surrey at $408,900. For townhouses, Abbotsford ($606,500) and North Surrey ($692,600) were the most affordable benchmarks. Actual prices vary by building, age, and strata, so treat these as starting reference points.

How long is it taking to sell a home in the Fraser Valley in June 2026? FVREB reported average days-to-sell of 37 days for a single-family detached home, 33 days for a townhome, and 38 days for a condo in June 2026. That's a slower pace than 2021 to 2022, which gives buyers more time for inspections and due diligence.

Sources

• Fraser Valley Real Estate Board, June 2026 Statistics Package (released July 3, 2026)
• Bank of Canada, policy rate held at 2.25%, June 10, 2026
• Bank of Canada, policy interest rate

This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.

Let's talk about your specific situation

Market averages are a starting point, not an answer. Whether June's conditions are a green light depends on which property type you want, your timeline, and how much of your down payment is already saved. If you'd like an honest read on your own numbers, start a conversation with the FRIVE team, no pressure to write an offer before you're ready. You can also read our fuller take on whether now is a good time to buy or browse neighbourhood guides across the Fraser Valley.