September 2026 Market Update: Fraser Valley, Surrey and Langley

The Fraser Valley Real Estate Board (FVREB) published its September numbers in a release dated October 5. Sales slipped, new listings rose from August, and prices kept sliding.

Below: the Fraser Valley overall, then the areas I work in, as far as FVREB publishes them. Every figure comes from the board's September 2026 statistics package. Anything marked "derived" is my own math.

The short version

Fraser Valley overall

The composite benchmark fell 1.0% from August and 7.2% from a year ago. The detached benchmark, $1,300,000, is now $460,000 below its March 2022 peak, according to FVREB. Townhouses are at $745,300 and apartments at $461,800.

Homes took 45 days to sell on average for detached, 38 for townhouses and 46 for condos. Year to date, the board has 8,742 sales against 9,250 at this point last year (-5.5%).

Average price is what homes actually sold for, so it shifts with the mix of homes that sold. The benchmark tracks a typical home, which is why I use it for trends.

The Bank of Canada held its policy rate at 2.25% on September 2. The next announcement is October 28.

By area and home type

Price is FVREB's MLS HPI benchmark for a typical home, and y/y is its change from September 2025. Sales and active listings are September figures. Ratio is derived: sales divided by active listings. The Fraser Valley row covers every area FVREB reports, including Mission. An asterisk means fewer than 10 sales, so the ratio and percentages swing a lot.

FVREB reports White Rock and South Surrey as one area, so there is no South Surrey-only line. Its Surrey combined line covers North, Central, Cloverdale and South Surrey (excluding White Rock) and has no listings count. Because it includes part of South Surrey, don't add it to the White Rock / South Surrey row.

White Rock / South Surrey (reported as one area)

Sales are up while prices are down. Detached sales rose from 41 to 60 (+46.3%) and townhouse sales from 29 to 47 (+62.1%). Apartment sales fell from 49 to 43 (-12.2%).

The benchmarks fell anyway: detached -7.4%, townhouse -11.2%, apartment -7.7% on the year. The detached derived ratio is 10.0%, with 600 homes active. The all-types benchmark is $990,300, down 7.3% in a year.

Langley

Langley's detached and townhouse benchmarks fell less than most areas. The detached benchmark is $1,471,100 (-6.7%) and the townhouse benchmark is $802,600 (-4.4%). Detached active listings are down 16.7% from last year, to 449.

Townhouses are the tight spot: 61 sales on 283 active listings is 21.6% (derived), just above FVREB's balanced range. Apartments sit at 16.1% and detached at 14.3%.

Surrey

Surrey combined had 166 detached sales, up from 155 (+7.1%). Townhouse sales fell from 136 to 126 (-7.4%) and apartment sales from 123 to 95 (-22.8%). Benchmarks: detached $1,386,200 (-8.3%), townhouse $758,600 (-6.6%), apartment $447,600 (-10.0%).

The areas differ. Surrey Central detached sales rose from 45 to 56, yet its detached ratio is 8.0% (derived). Surrey Central townhouses had the smallest annual benchmark drop of any townhouse row, -3.9%. Surrey North has 711 active apartments against 49 sales (6.9%, derived), with the apartment benchmark at $398,900 (-10.5%).

Cloverdale

Cloverdale's all-types benchmark is $921,900, down 5.8% on the year. That is a smaller drop than Langley (-6.2%), White Rock / South Surrey (-7.3%), Abbotsford (-9.0%) or North Delta (-9.1%). Detached is $1,317,200 (-6.9%) with 32 sales on 201 active (15.9%, derived).

Townhouses are $754,300 (-5.6%) with 28 sales on 138 active (20.3%, derived). Apartments had only 9 sales, too few to read much into.

Abbotsford

Abbotsford had the largest annual detached drop of the areas covered here: $1,087,000, down 11.1%, including -2.7% from August. Detached sales were 45 (-8.2%) on 440 active (10.2%, derived).

Townhouse sales fell from 37 to 27 (-27.0%), while townhouse active listings rose 1.6% to 254. Townhouse active listings fell in every other area that has a listings count. The all-types benchmark is $701,900 (-9.0%).

North Delta

FVREB covers North Delta only. It publishes no Ladner or Tsawwassen figures, so I can't report those from this package.

Detached sales were 24, down from 32 (-25.0%), with active listings down 27.2% to 209. The detached benchmark is $1,159,600 (-11.0%). Townhouses and apartments had 5 and 3 sales, so skip the percentages there. The all-types benchmark is $1,011,500 (-9.1%).

What this means for buyers

Inventory is 31% above the 10-year seasonal average and sales are slow, so you have time to compare homes. Prices are lower than a year ago in every area and home type above.

Where the ratio is higher, like Langley and Cloverdale townhouses, a well-priced home can draw more competition. Run your budget with the first-time buyer calculator first.

What this means for sellers

Price to today's sales, not last year's. Benchmarks are lower than a year ago in every area and type above, and most slipped again from August.

With 9,763 homes competing for buyers, price, condition and presentation decide who sells. Segments with a higher ratio, such as Langley townhouses, face less competing supply. A home evaluation shows where your home sits.

Benchmarks describe what happened, not what will happen. This is general information, not advice for your situation.

Where these numbers come from

Market figures: FVREB September 2026 statistics package (news release dated October 5, 2026): news release, MLS Summary and MLS Home Price Index pages. Also see the FVREB monthly market report. Policy rate: Bank of Canada. Derived ratios are September sales divided by September active listings, calculated from the package figures. FVREB reports White Rock and South Surrey as one area.