Summer 2026 has been a season that rewarded patience in the Fraser Valley. Between June and July, the numbers from the Fraser Valley Real Estate Board (FVREB) told a consistent story: more homes to choose from, softer prices, and buyers firmly in control of negotiations.

 

Sales Activity Cooled Through the Summer

 

The FVREB recorded 1,147 home sales in June, up two per cent from May but still four per cent below June 2025. That slowdown continued into July, with 1,089 sales, a five per cent drop from June and nine per cent below the same month last year. Townhomes were one of the few property types to post a year-over-year gain in June, up about one per cent, while detached homes and condos saw the bigger pullback.

 

Prices Kept Easing

 

Benchmark prices moved lower right through the summer. By July, the composite benchmark price sat at $877,600, down 0.8 per cent from June and seven per cent year-over-year. Single family detached homes came in at $1,335,200, down about 8.3 per cent from a year earlier. Townhomes were at $757,300, down roughly 7.1 per cent year-over-year, and condos and apartments sat at $469,500, down about 9.1 per cent. For context, benchmark prices across the Fraser Valley are now roughly 26 per cent below their 2022 peak.

 

Plenty of Inventory, Fewer New Listings

 

Active listings stayed above 10,000 homes for most of the summer, about 32 per cent above the ten-year seasonal average for the region. At the same time, new listings pulled back noticeably, down 14 per cent month-over-month and 18 per cent year-over-year in July, suggesting some would-be sellers are choosing to wait rather than list into a softer market. The sales-to-active-listings ratio landed around 11 per cent in July, comfortably inside buyer's market territory, since a balanced market typically runs 12 to 20 per cent.

 

What This Means If You're Buying

 

This has been one of the more buyer-friendly summers the Fraser Valley has seen in a while. With inventory elevated and competition light, there is genuinely more room to negotiate on price, closing dates, and conditions than there was a couple of years ago. Homes are also sitting longer, around 40 days for detached and townhomes and 46 days for condos, so there's less pressure to rush a decision.

 

What This Means If You're Selling

 

Pricing realistically matters more than ever right now. With buyers able to shop around, homes priced with current market conditions in mind are the ones generating showings and offers. As FVREB leadership put it this summer, buyer urgency has been notably absent, so standing out on presentation, pricing, and marketing is doing more of the work than it used to.

 

Looking Ahead

 

Whether this softer market extends into fall will depend a lot on borrowing costs and how much new supply comes online. For now, summer 2026 has been defined by choice for buyers and by the need for a clear strategy from sellers. If you're curious what any of this means for your specific street, price range, or timeline, reach out any time and I'm happy to put together a more detailed look.