Comprehensive Analysis of February 2026 Fraser Valley Real Estate Market Data

February 2026 Fraser Valley Real Estate Market Update: Early Spring Thaw as Sales Lift, but Prices Continue to Drift

Published March 12, 2026  |  By Katie Van Nes, Fraser Valley Market Analyst  |  City Statistics

The Fraser Valley market showed early signs of a spring thaw in February, with the Fraser Valley Real Estate Board (FVREB) recording 843 sales—up 36% from January's sluggish start but still 38% below the ten-year seasonal average. The composite benchmark price slipped another 0.2% to $895,100, marking the eleventh consecutive month of price declines. Inventory remains elevated at 8,344 active listings—51% above the 10-year seasonal average—maintaining the buyer-friendly conditions that have defined the market since mid-2025. For well-prepared buyers, the combination of soft pricing, ample selection, and improving sales momentum presents a window worth watching closely as spring approaches.

February 2026 Key Market Indicators

Market Overview: A Spring Thaw with Continued Price Softening

February 2026 brought a welcome uptick in sales activity compared to January's historically slow start. The 843 transactions represent a 36% increase from January's 619 sales, though activity remains well below the ten-year seasonal average—a pattern that has persisted for over a year now. New listings declined 9% in February to 2,796, suggesting 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. 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."

— Tore Jacobsen, Chair, Fraser Valley Real Estate Board

The Fraser Valley remains firmly in buyer's market territory with a 10% sales-to-active listings ratio—up slightly from January's 8% but still well below the 12-20% range that defines a balanced market. The modest improvement signals that some buyers are beginning to move off the sidelines, though overall sentiment remains cautious. Average days to sell a detached home was 47 days, a condo was 45 days, and townhomes moved the fastest at 39 days on average.

Affordability in Context

"Many households are in a holding pattern right now, waiting for clearer signs that the economy is finding its footing. Elevated economic uncertainty over the past year has cast a shadow over families' big financial decisions, including buying or selling a home."

— Baldev Gill, CEO, Fraser Valley Real Estate Board

Benchmark Prices by Property Type

All property types continued their downward trajectory in February, with apartments experiencing the steepest year-over-year decline at 8.9%. However, month-over-month changes were minimal, suggesting prices may be approaching a floor in several segments.

Source: Fraser Valley Real Estate Board MLS® HPI, February 2026

City-by-City Market Snapshot

Market conditions vary dramatically across Fraser Valley communities—from seller's market territory in Langley's attached segment to deep buyer's markets in Surrey detached. Neighbourhood-level data from SnapStats reveals where buyers have the most leverage and where emerging competition signals a shifting landscape.

Sales Ratio: 0-11% = Buyer's Market | 12-20% = Balanced | 21%+ = Seller's Market. SP/LP = Sale Price to List Price. DOM = Days on Market. Source: SnapStats February 2026

Surrey: Sales Rebound, but Buyers Still Firmly in Control

Surrey's detached market saw a significant rebound from January with 65 sales compared to just 41—a 59% increase—yet the 7% sales ratio keeps conditions firmly in buyer's territory. The median sale price rose to $1,270,000 (up 3% from January), and homes sold faster at 23 days on market compared to 34 days in January. The sale-to-list price ratio improved to 98%, suggesting sellers who price competitively are being rewarded.

The attached market improved to 11% sales ratio with 136 sales, approaching but not quite reaching balanced conditions. The median price edged up to $555,000 with properties selling at 97% of list within 27 days—a meaningful improvement from January's 43 days.

Browse Surrey Listings

Langley: Attached Market Enters Seller's Territory

Langley stands out this month as the Fraser Valley's strongest market, with its attached segment crossing into seller's market territory at 21% sales ratio—the only segment in the region to achieve this threshold. The 142 attached sales represent a 67% jump from January, with homes selling in just 18 days at 98% of list price. The $660,000 median price is up 5% from January, reflecting competitive conditions.

Detached homes maintain balanced conditions at 14% sales ratio with 54 sales. The median price softened to $1,372,000 (down 6% from January), though properties are selling at 98% of list within 23 days—faster than the board-wide average of 47 days for detached homes.

Browse Langley Listings

White Rock & South Surrey: Dramatic Speed Improvement, Attached Segment Rebounds

The most notable shift in White Rock/South Surrey this month is the dramatic reduction in days on market. Detached homes dropped from 68 days in January to just 22 days in February—a 68% improvement—suggesting a meaningful shift in buyer-seller alignment. The 7% sales ratio still indicates buyer's market conditions, but the speed of sales tells a more nuanced story. The median price softened to $1,732,500 with properties selling at 96% of list.

The attached market reached balanced territory at 13% sales ratio, also with just 22 days on market—down from 56 days in January. The sale-to-list ratio jumped to 98% from 94%, indicating a notable improvement in buyer-seller pricing alignment.

Browse White Rock & South Surrey Listings

Abbotsford: Fastest-Selling Detached Homes in the Valley

Abbotsford detached homes are selling faster than anywhere else in the Fraser Valley—just 14 days on market, down 53% from January's 30 days. The median price recovered to $1,080,500 (up 6% from January) with a 98% sale-to-list ratio. At 9% sales ratio the market remains buyer-favourable, but the speed tells a different story: well-priced homes in Abbotsford are moving quickly.

The attached market reached balanced territory at 14% sales ratio with 74 sales—a 40% increase from January. The median price rose to $452,000 with homes selling at 99% of list—near full asking—within 29 days. Abbotsford continues to offer the Fraser Valley's most accessible pricing across both detached and attached segments.

Browse Abbotsford Listings

Mission: Diverging Signals Between Price Segments

Mission presents a mixed picture in February. Detached sales slipped slightly to 22 (from 24 in January) and the sale-to-list ratio dropped sharply from 100% to 94%—the deepest negotiating discount in the Fraser Valley. Days on market doubled from 30 to 61 days, suggesting some sellers are listing optimistically. The median price softened to $930,000, maintaining Mission's status as one of the valley's most affordable detached markets.

The attached market tells a brighter story at 17% sales ratio (balanced market) with 13 sales—nearly double January's 7. The $600K-$700K price band is particularly active at 29% sales ratio, indicating strong demand for Mission's newer townhome developments.

Browse Mission Listings

Cloverdale: The Breakout Performer—Selling Above Asking

Cloverdale is February's standout story. Detached homes are selling at 102% of list price—the only market in the Fraser Valley where sellers are achieving above-asking prices. Sales surged 108% from January (12 to 25), and homes are moving in just 12 days on market—the fastest pace in the valley. The 14% sales ratio indicates balanced conditions with upward pressure, and the $1,430,000 median price is essentially flat from January.

The attached market is equally impressive at 19% sales ratio—approaching seller's territory—with homes selling in a remarkable 9 days on market at 98% of list. The 38 sales represent a 46% increase from January, confirming Cloverdale's growing appeal.

Browse Cloverdale Listings

What This Means for Buyers

February's data reveals an increasingly nuanced market. While the overall 10% sales ratio still favours buyers, pockets of competition are emerging—particularly in Langley attached (21%), Cloverdale attached (19%), and several entry-level price bands. The window of deep buyer leverage in these segments may be narrowing as spring approaches.

What This Means for Sellers

February's data offers cautious encouragement for sellers. Sales momentum improved meaningfully, days on market shortened across most communities, and Cloverdale demonstrated that above-asking sales are achievable when pricing and preparation align. However, the broader 10% sales-to-active ratio means sellers still face a competitive landscape overall.

Price to the February market, not last year's market: Review sold prices from the last 60 days. Year-over-year declines of 7-10% across most communities mean last spring's comparable sales are no longer a reliable pricing guide.

Speed correlates with pricing accuracy: Cloverdale detached is averaging just 12 days to sell. Abbotsford detached, 14 days. Mission, 61 days. The difference is largely about pricing strategy—properties priced to current conditions are moving quickly; those priced to aspirational levels are sitting.

Where sellers have leverage now: Langley attached (21% ratio), Cloverdale attached (19%), Clayton new developments, Willoughby Heights, and entry-level price bands under $1.25M across several communities show balanced-to-seller conditions. Work with a Realtor who understands neighbourhood-level data to identify your property's true competitive position.

Looking Ahead: Factors to Watch

Several factors will influence Fraser Valley market dynamics in the coming months:

• Spring listing surge: New listings typically peak in March-May. February's 9% decline in new listings suggests some sellers are positioning for peak spring—a wave of fresh inventory could shift dynamics in coming weeks.
• Interest rate trajectory: Bank of Canada policy decisions will continue to influence buyer purchasing power and mortgage renewal affordability.
• Economic confidence: Employment stability and broader economic signals remain the primary drivers of buyer confidence. Trade policy uncertainty continues to weigh on decision-making.
• Emerging pockets of competition: Langley attached and Cloverdale's above-asking sales suggest that well-located, well-priced properties are beginning to attract competition. If this trend continues, the window of deep buyer leverage in certain segments may narrow.

Frequently Asked Questions

Is February 2026 a good time to buy a home in the Fraser Valley?

For buyers with stable employment and long-term housing plans, February's conditions offer significant negotiating leverage in most segments. The 10% sales-to-active ratio means abundant selection and time to make decisions. However, emerging pockets of competition—particularly in Langley attached and Cloverdale—suggest the deepest buyer leverage may be shifting. The decision should be based on personal financial readiness, not market timing alone.

How much have Fraser Valley home prices dropped?

The composite benchmark fell 7.7% year-over-year to $895,100. Detached homes are down 8.6% to $1,370,900, townhomes down 7.1% to $770,700, and apartments down 8.9% to $488,300. From 2022 peak pricing, the correction ranges from approximately 15-20% depending on property type and location. Prices remain 30-35% above pre-pandemic (2019) levels.

Which Fraser Valley cities offer the best value right now?

Abbotsford offers the most accessible pricing with a $1,080,500 detached median and $452,000 attached median—the lowest in the Fraser Valley. Mission follows with a $930,000 detached median. For attached homes, Abbotsford and Surrey ($555,000) provide the most affordable entry points. Langley and Cloverdale offer mid-range options with stronger market activity.

What does a 10% sales ratio mean for the market?

A 10% sales-to-active listings ratio means 10 of every 100 listed homes are selling each month—a buyer's market. Balanced markets typically show 12-20% ratios, while seller's markets exceed 20%. At 10%, buyers have significant negotiating power, ample time to make decisions, and the ability to be selective. However, specific segments like Langley attached (21%) and Cloverdale attached (19%) are moving toward or past balanced conditions.

Are any markets starting to favour sellers?

Yes, selectively. Langley's attached market crossed into seller's territory at 21% sales ratio in February. Cloverdale detached homes are selling above asking (102% of list) in just 12 days. Specific price bands—like Langley's $1.25M-$1.5M detached (33% ratio) and the $900K-$1.25M entry-level segment across several cities—show seller-favourable conditions. These pockets of strength suggest that well-priced, well-located homes are beginning to attract competition as spring approaches.

How long are homes taking to sell in February 2026?

Board-wide averages are 47 days for detached, 39 days for townhomes, and 45 days for condos. However, community-level data shows enormous variation: Cloverdale detached averages just 12 days, Abbotsford detached 14 days, and Langley attached 18 days—versus Mission detached at 61 days. Speed of sale is strongly correlated with pricing accuracy relative to current market conditions.