A home for sale at 4560 198 Street in Langley with an asking price of $2.9 million. (Image Credit: Rew.ca.)

By Mike Vanden Bosch

Home sales rebound

Fraser Valley real estate sales show signs of spring bloom in February: FVREB

Mar 3, 2026 | 8:30 AM

FRASER VALLEY – The Fraser Valley Real Estate Board says home sales during February showed early signs of a spring thaw as sales activity made a sharp jump from an otherwise dreary January to start the year.

In a statement, the board says it recorded 843 sales on its Multiple Listing Service in February, a 36 per cent increase from January, but still 38 per cent below the historical ten-year seasonal average.

The board says new listings declined nine per cent in February to 2,796, revealing that some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.

“Buyer-friendly conditions continue to define the Fraser Valley market,” said Tore Jacobsen, chair of the Fraser Valley Real Estate Board. “While we did see a welcome bump in sales over January, they remain well below seasonal averages. With ample inventory and soft prices, this window may prove to be a key buying opportunity, particularly as prices settle. As we move closer to spring, we’re hopeful that improved economic stability will encourage more buyers to re-enter the market.”

Cumulative inventory remains above seasonal norms for the Fraser Valley, with 8,344 active listings, up eight per cent from January and 51 per cent above the 10-year seasonal average.

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The board says the Fraser Valley is still characterized by a buyer’s market, with an overall sales-to-active listings ratio of ten per cent in February. A balanced market is typically defined by a ratio between 12 and 20 per cent.

Across the Fraser Valley in February, the average number of days to sell a single-family detached home was 47 days, while for a condo it was 45 days. Townhomes took, on average, 39 days to sell.

“Many households are in a holding pattern right now, waiting for clearer signs that the economy is finding its footing,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Elevated economic uncertainty over the past year has cast a shadow over families’ big financial decisions, including buying or selling a home. In times like these, a professional REALTOR® plays a critical role, offering trusted advice, local market insight, and the confidence needed to make informed moves.”

The benchmark price for an FVREB single-family detached home in February dropped 0.2 per cent compared to January 2026, and decreased 8.6 per cent compared to February 2025.

Townhomes had a benchmark price of $770,700, a drop of 0.3 per cent versus January 2026 and a dip of 7.1 per cent versus February 2025.

Similarly, apartments and condos decreased 0.1 per cent to $488,300, a drop of 8.9 per cent versus February 2025.

The Fraser Valley Real Estate Board consists of approximately 5,000 real estate agents in Abbotsford, Mission, Langley, Surrey, White Rock and North Delta.