September 2026 Fraser Valley Market Update: Listings Rose 19% in a Month and Sales Fell

Fraser Valley sellers came back after Labour Day. They added 2,818 new listings in September, 18.8% more than in August. Sales went the other way: 922 homes sold, 2.0% fewer than in August and 4.2% fewer than last September.

When more homes come on the market and fewer sell, prices tend to ease, and that is what the Fraser Valley Real Estate Board's September release shows. The composite benchmark fell 1.0% in the month to $861,300. It is now 7.2% below where it was a year ago.

For a buyer, this month is mostly good news. You have more choice than in August, prices are lower, and detached homes and condos are taking 45 to 46 days to sell. The one exception is townhomes, which we cover below.

The September 2026 numbers at a glance

Metric	September 2026	Change
Composite benchmark price	$861,300	down 1.0% month over month, down 7.2% year over year
Detached benchmark	$1,300,000	down 1.5% MoM, down 8.8% YoY
Townhome benchmark	$745,300	down 0.7% MoM, down 6.2% YoY
Condo/apartment benchmark	$461,800	down 0.9% MoM, down 9.3% YoY
Total residential sales	922	down 2.0% MoM, down 4.2% YoY
New listings	2,818	up 18.8% MoM, down 18.2% YoY
Active listings	9,763	down 0.2% MoM, down 7.7% YoY, still 31% above the 10-year seasonal average
Sales-to-active ratio	9%	Buyer's market (below 12%)
Average days to sell (detached / townhome / condo)	45 / 38 / 46

Source: Fraser Valley Real Estate Board, September 2026 Statistics Package, released October 5, 2026. Benchmark prices are the board's MLS Home Price Index figures for a typical home of each type.

Why prices fell faster in September

Look at the two sides of the market together. On the seller side, new listings rose 18.8% from August, the normal fall return. On the buyer side, sales fell 2.0%. The total number of homes for sale changed by 0.2%, to 9,763, because new listings replaced the homes that sold or came off the market.

That combination gives buyers more choice at the same time as fewer of them are bidding. The composite benchmark fell 1.0% in September after falling 0.9% in August.

FVREB Interim CEO Anthony Boone said buyers have been waiting months for more economic certainty, and that a series of economic shocks has lowered consumer confidence. In his words: "Despite lower prices and more choice, buyers remain cautious, and that is being reflected in the pace of sales."

The year-to-date numbers show this is a long trend. From January to September, the Fraser Valley recorded 8,742 sales, 5.5% fewer than in the same months of 2025. New listings over the same months total 27,397, down 12.9%. Both sides are quieter than last year, and sellers are quieter by more than twice as much.

What each type of home did

Segment	Sales	Change vs September 2025	Benchmark	Change vs September 2025	Active listings
Detached	337	down 2.0%	$1,300,000	down 8.8%	3,261
Townhome	225	down 7.8%	$745,300	down 6.2%	1,630
Apartment	220	down 16.0%	$461,800	down 9.3%	2,153

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

Apartments had the weakest month. Sales fell 16.0% from last September and the benchmark is down 9.3% on the year, the largest annual price decline of the three types. Detached sales held closest to last year, down 2.0%, but the detached benchmark still fell 1.5% in the month alone.

FVREB Chair Ishaq Ismail pointed to detached prices: "The Benchmark price for a single-family home is now $460,000 below its March 2022 peak. For buyers who are in a position to act, this represents a significant shift in affordability and may create an opportunity for some households to move into a different segment of the market."

A few local results stand out. Keep in mind that a small count can change by a large percentage from only a few sales. White Rock and South Surrey sold 60 detached homes, up from 41 last September, and 47 townhomes, up from 29. Central Surrey sold 56 detached homes, up from 45. Abbotsford went the other way: every segment sold less than last September, and townhome sales fell from 37 to 27.

What the sales-to-active ratio tells you

If the term is new to 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 plenty of supply and few competing buyers. That gives you room to negotiate and time to check the home properly.

FVREB uses the BCREA convention that a balanced Lower Mainland market runs between 12% and 20%. Below 12% is a buyer's market. The Fraser Valley came in at 9% at the end of September, down from 10% at the end of August. The board's chart for that figure includes commercial property, so we also worked it out by home type from the board's residential counts:

• Detached: 337 sales against 3,261 active listings, or 10.3%
• Apartments: 220 sales against 2,153 active listings, or 10.2%
• Townhomes: 225 sales against 1,630 active listings, or 13.8%

Detached and condo buyers are in a buyer's market. Townhome buyers are in a balanced one. A townhome buyer who offers well below a fair asking price because "it's a buyer's market" can lose the home to someone who read the townhome numbers.

Inventory is steady, and still high

There were 9,763 active listings across the Fraser Valley at the end of September, down 0.2% from August and down 7.7% from a year earlier. That is still 31% above the 10-year seasonal average for September.

The fall listings were smaller than last year's. New listings were 18.2% below September 2025, with apartments down the most at 28.0%, detached down 19.7% and townhomes down 17.3%. So supply is lower than last fall, and it is still high by the region's longer history.

Homes are taking 45 days on average to sell for detached, 46 days for condos and 38 days for townhomes. Use that time. Order a full set of strata documents, book an inspection, and clear your financing condition properly. Skipping steps because a seller seems eager is the most expensive mistake we see in a slow market.

The rate backdrop

The Bank of Canada held its policy interest rate at 2.25% on September 2, 2026, two days into the September data month. The rate has been 2.25% at every announcement in 2026, and the next one is on October 28, 2026.

A policy rate that has not moved all year means the variable-rate part of your payment is steady. The parts you can still change are the price you negotiate and the mortgage product you choose. Variable rates follow the policy rate. Fixed rates follow bond yields and can move week to week. We will not print a specific mortgage rate here, because published rates change often and differ by lender. Get current numbers from a mortgage broker before you build a budget on any figure.

Where a first-time buyer can get in

Regional benchmarks are a poor guide when you are working out whether a first purchase is possible at all. The sub-area numbers are more useful.

Abbotsford was the most affordable market in the Fraser Valley on both counts in September. Its apartment benchmark was $370,200, down 11.0% from last September. Its townhome benchmark was $592,600, down 8.6%. North Surrey apartments came in at $398,900 and Mission apartments at $411,500. On townhomes, Mission was $618,000 and North Surrey $680,400.

Mission had the largest annual drop of any sub-area, with its composite benchmark down 11.6% over the year to $797,500. North Delta and Abbotsford were next, down 9.1% and 9.0%.

Those are the lowest apartment benchmarks in the region, and government programs can reduce what you need up front. If your purchase is a year or more away, opening a First Home Savings Account is usually the first step, and it helps to know your minimum down payment before you start touring. We have written up the city-level picture for Abbotsford, Mission and Surrey. To see what is listed, browse condos for sale in Abbotsford or Mission, or townhomes in Abbotsford.

For move-up buyers

September made the step up cheaper again in dollar terms. The detached benchmark is $125,800 below September 2025, while the apartment benchmark is $47,300 below its own September 2025 figure. The gap between the two is $838,200, down from $916,700 a year ago, a drop of $78,500. The gap between a townhome and a detached home narrowed by $76,900 over the same year, to $554,700.

The order of steps matters more than the gap. A condo took 46 days on average to sell in September, and 2,153 condo listings were competing for 220 sales. If you buy before you sell, you may carry two homes for longer than you planned.

We usually suggest sorting your financing and deciding the order of your sale and purchase before you list anything. Our notes on bridge financing and our buying guide explain how we think about that order, and townhouse versus detached covers the choice itself.

Looking ahead to October

Two things we are watching. First, whether the extra September listings sell or sit. If sales stay near 900 while new listings stay high, expect the benchmark to keep falling into the winter. Second, the Bank of Canada on October 28. It is the next chance for the rate side of a mortgage payment to change at all.

Chair Ishaq Ismail summed up the month in one line: "Prices continue to soften, with some areas of the Fraser Valley seeing more significant declines." The board's own index backs that up: the Fraser Valley composite is down 15.7% over three years.

Key takeaways

• Fraser Valley sales were 922 in September 2026, down 2.0% from August and down 4.2% from September 2025.
• New listings rose 18.8% from August to 2,818, the normal fall return, though 18.2% below last September.
• The composite benchmark fell 1.0% in the month to $861,300 and is down 7.2% over the year.
• Detached fell most in the month, down 1.5% to $1,300,000. FVREB's chair says that is $460,000 below the March 2022 peak.
• Apartments were weakest over the year: 220 sales, down 16.0%, and a benchmark down 9.3% to $461,800.
• The sales-to-active ratio fell to 9%, a buyer's market, but townhomes work out to 13.8%, which is balanced.
• Abbotsford had the lowest benchmarks in the region: $370,200 for an apartment and $592,600 for a townhome.
• The Bank of Canada held at 2.25% on September 2, 2026. The next decision is October 28, 2026.

Frequently asked questions

What was the Fraser Valley composite benchmark price in September 2026? The Fraser Valley composite benchmark price was $861,300 in September 2026, down 1.0% from August and down 7.2% from September 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 the figure does not jump around based on which homes happened to sell that month.

Did Fraser Valley home sales rise or fall in September 2026? Fraser Valley home sales fell in September 2026. FVREB recorded 922 sales, down 2.0% from 941 in August and down 4.2% from 962 in September 2025. Year to date, the region has recorded 8,742 sales, 5.5% fewer than the 9,250 recorded over the same months of 2025. New listings rose in the same month, so buyers had more homes to choose from.

How many new listings came onto the Fraser Valley market in September 2026? Fraser Valley sellers added 2,818 new listings in September 2026, up 18.8% from 2,373 in August, according to FVREB. That was still 18.2% below the 3,447 new listings in September 2025. Total active listings held at 9,763, down 0.2% from August and down 7.7% from a year earlier, and 31% above the 10-year seasonal average for September.

Which Fraser Valley property type was weakest in September 2026? Apartments and condos were the weakest Fraser Valley property type in September 2026. FVREB recorded 220 apartment sales, down 16.0% from September 2025, and the apartment benchmark fell to $461,800, down 9.3% year over year, the largest annual decline of the three types. Detached sales were 337, down 2.0%, and townhome sales were 225, down 7.8%.

Is the Fraser Valley a buyer's or seller's market in September 2026? The Fraser Valley was a buyer's market in September 2026. FVREB reported a sales-to-active-listings ratio of 9% at month end, and the board uses the BCREA convention that a balanced Lower Mainland market runs between 12% and 20%. Using the board's own counts, detached works out to 10.3% and apartments to 10.2%, while townhomes sit at 13.8%, inside the balanced range.

How long is it taking to sell a home in the Fraser Valley in September 2026? In September 2026 a condo took an average of 46 days to sell in the Fraser Valley, a single-family detached home took 45 days, and a townhome took 38 days, according to FVREB. Townhomes sold fastest of the three types. Timelines like these usually leave a buyer enough room to order strata documents, book an inspection and clear a financing condition properly.

Where are the most affordable condos and townhomes in the Fraser Valley in September 2026? Abbotsford had the lowest FVREB benchmark price in the Fraser Valley in September 2026 for both types: $370,200 for an apartment, down 11.0% from a year earlier, and $592,600 for a townhome, down 8.6%. On apartments, North Surrey followed at $398,900 and Mission at $411,500. On townhomes, Mission came next at $618,000 and North Surrey at $680,400.

What is the Bank of Canada's policy rate as of October 2026? The Bank of Canada's target for the overnight rate is 2.25%. The Bank held it there on September 2, 2026, two days into the September data month, and the rate has been 2.25% at every announcement in 2026. The next scheduled announcement is October 28, 2026. Variable mortgage rates follow the policy rate, while fixed rates follow bond yields and can move between announcements.

Is it cheaper to move up from a condo to a detached home in the Fraser Valley now? In benchmark terms, yes. In September 2026 the Fraser Valley detached benchmark was $1,300,000 and the apartment benchmark was $461,800, a gap of $838,200. In September 2025 the gap was $916,700, so it narrowed by $78,500 in a year. The detached benchmark fell $125,800 over that time, while the apartment benchmark fell $47,300.

Sources

• Fraser Valley Real Estate Board, September 2026 Statistics Package (released October 5, 2026)
• Fraser Valley Real Estate Board, monthly statistics
• Bank of Canada, policy rate held at 2.25%, September 2, 2026
• Bank of Canada, policy interest rate
• Previous month: August 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 September's conditions favour your purchase depends on which type of home you want, how firm your timeline is, and how much of your down payment is already saved. If you want a straight read on your own numbers, start a conversation with the FRIVE team. There is no pressure to write an offer before you are ready. You can also read our longer take on whether now is a good time to buy, our guide to writing an offer in a buyer's market, or browse neighbourhood guides across the Fraser Valley.