October 2026 Fraser Valley Market Update: Sales Pick Up, but Buyers Still Have the Edge

Home sales rose across the Fraser Valley in October, which is good news if you've been waiting for things to wake up a bit. But the balance between buyers and sellers barely moved. Here's what the Fraser Valley Real Estate Board's October numbers show, and what I think they mean for you.

The big picture

1,051 homes sold across the Fraser Valley in October. That's up 14% from September, but still 6% below last October. On the supply side, 2,551 new listings came to market, down 10% from September and 14% from a year ago. Total active inventory fell to 9,164 homes, down 6% from last month and 10% from last October.

Even with more sales and fewer listings, the sales-to-active listings ratio came in at 11%. Under 12% is a buyer's market, 12% to 20% is balanced, and over 20% is a seller's market. So we're close to balanced, but buyers still have the upper hand.

Detached homes led the way

This was the part of the report that stood out to me. 384 detached homes sold in October, compared to 258 townhouses and 238 apartments. Detached sales were actually up 1.6% from last October, while townhouse sales were down 18% and apartment sales were down 20%.

The board's chair pointed to the price correction as the reason. Detached prices have come down enough that more families can reach them now, and they're acting on it.

Where prices are sitting

The composite benchmark price for a typical Fraser Valley home is $860,000. That's basically flat from September and down 6.4% from last year. By property type:

• Detached: $1,293,800, down 8.5% from last October
• Townhouse: $742,300, down 5.5%
• Apartment: $460,800, down 8.1%

The board's CEO said most of the pandemic-era price growth has now been erased, putting affordability at its best level in five years. He also noted that interest rates have recently moved higher, with the possibility of more increases, so borrowing costs need to be part of the plan.

On average, detached homes took 50 days to sell in October, townhouses 37 days and apartments 44 days.

Closer to home: Abbotsford and Mission

Detached prices in Abbotsford and Mission have come down further than the Fraser Valley as a whole. The Abbotsford detached benchmark is $1,090,500 and Mission's is $883,300, both down 13.1% from last October, compared to 8.5% for the Fraser Valley overall.

If you're a growing family thinking about moving up, that matters. A year ago, the gap between the Abbotsford townhouse benchmark and the detached benchmark was about $610,000. Today it's about $511,000. That's roughly $99,000 less to bridge for a typical move-up, based on benchmark prices. Your own home and the one you buy will have their own numbers, but the direction is real.

What it means if you're selling

Buyers are out there, especially for detached homes, but they have plenty of choice and they're watching price closely. With detached homes averaging 50 days to sell, the ones that move are priced right from day one and show well. Trust the plan on pricing and staging. It matters more in a market like this, not less.

What it means if you're buying

You still have negotiating room and plenty of homes to choose from. With rates moving up, I'd recommend talking to your lender and refreshing your pre-approval before you start writing offers, so you know exactly where you stand.

The bottom line

October brought more sales, fewer new listings and steady prices, but the Fraser Valley is still a buyer's market. There are variables in this market, and every situation is different. Let's talk through them together. You can find more market updates and reach me at Ottlistings.com.

Data source: Fraser Valley Real Estate Board, October 2026 Housing Market Statistics (news release, MLS® Summary and MLS® Home Price Index). Benchmark prices are MLS® HPI benchmarks. The townhouse-to-detached price gap is a calculation based on FVREB benchmark data. Information is deemed reliable but not guaranteed. Not intended to solicit buyers or sellers currently under contract.

Justin Ott Personal Real Estate Corporation Powered by LPT Realty

REALTOR® | Fraser Valley Real Estate Board Medallion Club

(604) 832-2045 | Justin@ottlistings.com | Ottlistings.com