October 2026 Fraser Valley Market Update: Detached Sales Rose While Townhome and Condo Sales Fell

Detached houses had the best month of any home type in the Fraser Valley in October. Buyers bought 384 of them, up from 378 a year ago. Townhome and condo sales both fell by more than 17% over the same year.

That is the headline in the Fraser Valley Real Estate Board's October release. Overall, the region recorded 1,051 sales, 14.0% more than in September and 6.4% fewer than last October. The composite benchmark held at $860,000, down 0.1% in the month.

If you own a house and are thinking about selling, October was the most useful month for you this fall. If you are buying your first home, prices are still lower than a year ago, and on October 28 the Bank of Canada raised its rate. We cover both below.

The October 2026 numbers at a glance

Metric	October 2026	Change
Composite benchmark price	$860,000	down 0.1% month over month, down 6.4% year over year
Detached benchmark	$1,293,800	down 0.5% MoM, down 8.5% YoY
Townhome benchmark	$742,300	down 0.4% MoM, down 5.5% YoY
Condo/apartment benchmark	$460,800	down 0.2% MoM, down 8.1% YoY
Total residential sales	1,051	up 14.0% MoM, down 6.4% YoY
New listings	2,551	down 9.5% MoM, down 14.0% YoY
Active listings	9,164	down 6.1% MoM, down 9.5% YoY
Sales-to-active ratio	11%	Buyer's market overall (below 12%)
Average days to sell (detached / townhome / condo)	50 / 37 / 44

Source: Fraser Valley Real Estate Board, October 2026 Statistics Package, released November 3, 2026. Benchmark prices are the board's MLS Home Price Index figures for a typical home of each type.

Why detached homes led the month

Segment	Sales	Change vs October 2025	Benchmark	Change vs October 2025	Active listings
Detached	384	up 1.6%	$1,293,800	down 8.5%	2,994
Townhome	258	down 17.6%	$742,300	down 5.5%	1,502
Apartment	238	down 20.1%	$460,800	down 8.1%	2,060

Source: FVREB October 2026 Statistics Package, MLS® Summary.

The detached benchmark is $120,300 lower than in October 2025. FVREB Chair Ishaq Ismail connected the two facts: "This is a trend we've been watching in recent months, and improving affordability in the detached segment may be helping sustain that demand."

The board's CEO, Rock Lefebvre, went further on prices: "Much of the pandemic-era price growth in the Fraser Valley has been erased." The board's own index supports a five-year view. The Fraser Valley composite is down 11.4% over five years and down 14.7% over three.

Some local results stand out. Small counts can change by a large percentage from a few sales, so read these as direction only. Detached sales rose in Abbotsford (72, up from 54), Central Surrey (74, up from 60), North Delta (38, up from 31) and North Surrey (39, up from 33). They fell in Langley (59, down from 79) and Mission (17, down from 29).

Condos had the weakest month. Apartment sales fell 20.1% from last October, and the board's sales counts show drops in Langley (60, down from 75) and North Surrey (52, down from 77).

What the sales-to-active ratio tells you

The sales-to-active-listings ratio is the number of homes sold in a month divided by the number listed for sale. A low ratio means many homes and few competing buyers. A higher ratio means each listing gets more attention.

FVREB uses the BCREA rule that a balanced Lower Mainland market runs between 12% and 20%. The board reported 11% for October, up from 9% in September. That figure includes commercial property, so we worked it out by home type from the board's residential counts:

• Detached: 384 sales against 2,994 active listings, or 12.8% (10.3% in September)
• Townhomes: 258 sales against 1,502 active listings, or 17.2% (13.8% in September)
• Apartments: 238 sales against 2,060 active listings, or 11.6% (10.2% in September)

Detached homes moved into the balanced range this month. Townhomes are close to the top of it. Condos are the only type still in a buyer's market.

Fewer homes for sale than last fall

There were 9,164 active listings at the end of October, down 6.1% from September and 9.5% from a year earlier. Sellers added 2,551 new listings, 9.5% fewer than in September and 14.0% fewer than last October.

The year-to-date numbers show the same direction. From January to October, new listings total 29,949, down 12.9% from the same months of 2025. Sales over the same months are down 5.8%. New listings have fallen more than twice as much as sales this year.

Detached homes took 50 days on average to sell in October, up from 45 in September. Condos took 44 days and townhomes 37. A house that is priced well still sells, but plan for 50 days or more, and longer if your home needs work.

The rate backdrop

On October 28 the Bank of Canada raised its target for the overnight rate by 25 basis points, to 2.5%. It had held at 2.25% at every announcement earlier in 2026. The Bank said it raised the rate "to reduce the risk that continuing high energy prices spread broadly to the prices of other goods and services," and added that "there could be a need to increase the policy rate further."

Lefebvre named this in the board's release: "However, with interest rates recently moving higher and the possibility of further increases, buyers will need to consider how borrowing costs factor into their purchasing decisions."

A variable-rate mortgage changes when your lender changes its prime rate. A fixed rate stays the same until your term ends. We will not print a specific mortgage rate here, because published rates change often and differ by lender. If you have a pre-approval, read our note on mortgage rate holds and check the date yours ends. The next Bank of Canada decision is December 9, 2026.

For downsizers: the house sells more easily, and frees up less

If you own a detached house and plan to move to a condo or townhome, October gave you two facts to weigh.

The good one: detached homes were the only type with more sales than last year, and their ratio moved into the balanced range at 12.8%. More buyers are looking at houses than at any point this fall.

The harder one: the price gap has shrunk. In October the detached benchmark was $833,000 above the apartment benchmark. A year ago the gap was $912,800, so it is $79,800 smaller. Against a townhome, the gap is $551,500, down $77,400 from a year ago. In benchmark terms, a house-to-condo move frees up less money than it did last fall.

Your own numbers will differ from these. The board's figures vary across the region: the detached benchmark is $1,090,500 in Abbotsford and $1,606,500 in South Surrey and White Rock. Our downsizing guide explains the steps, the downsizing calculator shows what a move could leave you with, and sell first or buy first covers the order. With detached homes taking 50 days on average, we usually suggest a downsizer decides that order before listing.

For first-time buyers: condos still give you the most room

Condos are the one type where buyers still have the most room to negotiate. The apartment ratio is 11.6% and the benchmark is $460,800, down 8.1% from a year ago. With 44 days on average to sell, you have time to order the strata documents and book an inspection.

Abbotsford had the lowest benchmarks in the region in October: $370,300 for an apartment and $579,600 for a townhome. North Surrey apartments came in at $392,300 and Mission apartments at $396,200. On townhomes, Mission was $606,100 and North Surrey $671,000.

Townhomes are the most competitive type, at a 17.2% ratio and 37 days to sell. A low offer on a well-priced townhome can lose it. If your purchase is a year or more away, the First Home Savings Account is usually the first step, and our first-time buyer guide covers the rest.

Looking ahead to November

Two things we are watching. First, whether detached homes stay in the balanced range. One month at 12.8% is a start. Two or three would tell us more buyers are coming back for houses. Second, the first full month at the higher rate. November's sales will show how buyers respond to it, and the Bank of Canada decides again on December 9.

Our read: the composite fell 0.1% in October, against 1.0% in September, while fewer sellers are listing. We think that keeps prices close to where they are into the winter. We could be wrong. One month does not make a trend.

Key takeaways

• Fraser Valley sales were 1,051 in October 2026, up 14.0% from September and down 6.4% from October 2025.
• Detached homes were the only type with more sales than a year ago: 384, up 1.6%.
• Townhome sales fell 17.6% to 258 and apartment sales fell 20.1% to 238.
• The composite benchmark held at $860,000, down 0.1% in the month and 6.4% over the year.
• The detached ratio rose to 12.8%, inside the balanced range. Townhomes are at 17.2% and condos at 11.6%.
• Active listings fell to 9,164, down 6.1% from September and 9.5% from last October.
• The gap between the detached and condo benchmarks is $833,000, $79,800 smaller than a year ago.
• The Bank of Canada raised its rate to 2.5% on October 28, 2026. The next decision is December 9, 2026.

Frequently asked questions

What was the Fraser Valley composite benchmark price in October 2026? The Fraser Valley composite benchmark price was $860,000 in October 2026, down 0.1% from September and down 6.4% from October 2025, according to the Fraser Valley Real Estate Board. The composite benchmark is the board's MLS Home Price Index estimate for a typical Fraser Valley home. It blends detached houses, townhomes and apartments into one figure, so it does not jump around based on which homes happened to sell that month.

Did Fraser Valley home sales rise or fall in October 2026? Fraser Valley home sales rose from September and fell from a year earlier. FVREB recorded 1,051 sales in October 2026, up 14.0% from 922 in September and down 6.4% from 1,123 in October 2025. Year to date, the region has recorded 9,765 sales, 5.8% fewer than the 10,371 recorded over the same months of 2025.

Which Fraser Valley property type sold best in October 2026? Detached houses sold best in the Fraser Valley in October 2026. FVREB recorded 384 detached sales, up 1.6% from 378 in October 2025, the only type with more sales than a year earlier. Townhome sales fell 17.6% to 258 and apartment sales fell 20.1% to 238. FVREB Chair Ishaq Ismail linked the detached demand to lower detached prices.

Is the Fraser Valley a buyer's or seller's market in October 2026? The Fraser Valley was a buyer's market overall in October 2026, with an 11% sales-to-active ratio reported by FVREB. The board uses the BCREA rule that a balanced Lower Mainland market runs between 12% and 20%. By home type the picture differs: from the board's own counts, detached works out to 12.8% and townhomes to 17.2%, both balanced, while apartments sit at 11.6%.

What did the Bank of Canada do in October 2026? The Bank of Canada raised its policy interest rate by 25 basis points to 2.5% on October 28, 2026. It said it acted to reduce the risk that high energy prices spread to the prices of other goods and services, and that there could be a need to raise the rate further. The next scheduled decision is December 9, 2026.

How long is it taking to sell a home in the Fraser Valley in October 2026? In October 2026 a single-family detached home took an average of 50 days to sell in the Fraser Valley, a condo took 44 days and a townhome took 37 days, according to FVREB. Detached homes took 5 days longer than in September, when the average was 45 days. A seller planning a move can use these averages to set a realistic timeline for selling first.

Is it cheaper to downsize from a house to a condo in the Fraser Valley now? In benchmark terms, a Fraser Valley owner who sells a detached house and buys a condo frees up less money than a year ago. In October 2026 the detached benchmark was $1,293,800 and the apartment benchmark was $460,800, a gap of $833,000. In October 2025 the gap was $912,800, so it shrank by $79,800 because detached prices fell more than condo prices.

Where are the lowest Fraser Valley condo and townhome prices in October 2026? Abbotsford had the lowest FVREB benchmark prices in October 2026 for both condos and townhomes: $370,300 for an apartment, down 10.0% from a year earlier, and $579,600 for a townhome, down 10.1%. On apartments, North Surrey came next at $392,300 and Mission at $396,200. On townhomes, Mission came next at $606,100 and North Surrey at $671,000.

Should I wait for the next Bank of Canada decision before buying in the Fraser Valley? The next Bank of Canada decision is on December 9, 2026, and the Bank said on October 28 that another increase is possible. Nobody can know the outcome in advance. If you have a mortgage pre-approval, check the date your rate hold ends first, because a rate held before October 28 may be lower than what the same lender offers today.

Sources

• Fraser Valley Real Estate Board, October 2026 Statistics Package (released November 3, 2026)
• Fraser Valley Real Estate Board, monthly statistics
• Bank of Canada, policy rate raised to 2.5%, October 28, 2026
• Previous month: September 2026 Fraser Valley market update

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

A regional benchmark is a starting point. Whether October's numbers help your move depends on what you own, what you want to buy next, and how firm your timeline is. If you are thinking about selling a house, start with a free home value. If you want a straight read on your own numbers, start a conversation with the FRIVE team. There is no pressure to list or to write an offer before you are ready.