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Fraser Valley Real Estate Market Update: August 2026

Let me ask you something.

If someone told you that home prices in your area were sitting up to 15 per cent below where they were three years ago, that there were a third more homes for sale than the region's 10-year average, and that buyers were averaging 45 days to make a decision with almost no competition, would you call that a bad time to buy?

That is the Fraser Valley right now.

In August, 941 homes sold across the region. That is actually up 1.1 per cent from last year, only the second time we have seen a year-over-year gain since early 2025. Demand is starting to quietly return. But prices have not followed yet. The composite benchmark dropped another 0.9 per cent in August to $869,900, down 7 per cent from a year ago.

Which means the window is still open. For now.

August Benchmark Prices Across the Fraser Valley

Fraser Valley benchmark prices for August 2026 by property type
  • Detached homes: $1,319,600, down 8.4% year over year

  • Townhomes: $750,600, down 7.1% year over year

  • Condos: $466,100, down 8.9% year over year

Abbotsford, Mission and Chilliwack

August 2026 detached benchmark prices for Abbotsford, Mission and Chilliwack
  • Abbotsford detached: $1,117,700, down 7.9% year over year

  • Mission detached: $892,700, down 11.8% year over year, the sharpest drop in the region

  • Chilliwack detached: $859,200, down 5.8% year over year

What the Numbers Are Telling Us

Here is what I keep coming back to.

Sales-to-active ratio is sitting at 10 per cent. Buyers are averaging 45 days to decide on a detached home. Inventory is 33 per cent above the 10-year seasonal average. Those are not the numbers of a market that has recovered. Those are the numbers of a market that is still very much in buyer territory.

But here is what most people miss: the moment sales started ticking up, the direction of travel changed. It does not mean prices are about to spike. It means the floor is forming. And once enough buyers figure that out at the same time, the negotiating room starts to shrink.

The question is not whether the market is good for buyers. It obviously is. The question is whether you are going to be the one who acted while it was, or the one explaining to yourself later why you waited.

For Sellers

The dynamic is unchanged. Homes are selling. But buyers have time, options, and leverage. The ones accepting offers are the ones who priced for where the market is, not where it was. If your home is sitting, the price is the answer.

What Does This Mean for Your Street?

If you want to know what this means for your specific street, your neighbourhood, or your property, reach out here. I will send you a breakdown that actually means something to you.

Moving From Ontario?

Here is the part that caught my attention. In the Greater Toronto Area, the benchmark price is down 4.5 per cent from last year. Here in the Fraser Valley, it is down 7 per cent.

But the bigger difference is supply. New listings in the GTA dropped 14.1 per cent in August, and TRREB is already warning that less choice could bring prices back up in the months ahead. The Fraser Valley is going the other way, where buyers still have plenty of choice.

So if you are in Ontario and have been eyeing a move west, you are looking at a market where prices have come down further and buyers still have room to negotiate.

Read what it really costs to move to the Fraser Valley.

Sources: Fraser Valley Real Estate Board and Chilliwack and District Real Estate Board, August 2026.

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New property listed in Chilliwack Proper South, Chilliwack

I have listed a new property at 45582 Meadowbrook Drive in Chilliwack. See details here

Built by renowned Van Maren Group, this stunning 5-bed, 4-bath home offers 3,000+ sq. ft. of stylish living.** Bright open-concept main floor with a dedicated den, chef’s kitchen featuring gas range, stone counters, oversized island & walk-in pantry. Fully finished basement includes a 1-bedroom in-law suite with separate entrance—perfect for extended family. Private fenced yard, RV parking, and unbeatable access to schools, parks, shopping, dining & transit.

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People considering a move here always ask me the same thing: what is Abbotsford actually like to live in, beyond the real estate listings? After years of working in this community, here is the honest answer.

Abbotsford is the largest city by land area in British Columbia and the fifth largest municipality in the province, with a population that crossed 150,000 at the last census and is on pace to approach 250,000 by 2050. It still has a small town feel in a lot of pockets, even as it keeps growing.

This is farm country as much as it is suburb. Abbotsford has some of the highest value agricultural land in Canada, and produces a huge share of the province’s eggs and dairy, along with the berry farms the Fraser Valley is famous for. That agricultural backbone shapes the whole feel of the city: roadside produce stands in summer, open fields backing onto newer subdivisions, and a slower pace than you would expect this close to Vancouver.

The city breaks down into a handful of distinct areas. Historic Downtown has the older character homes and a walkable core. Clearbrook and East Abbotsford are more built up, with easy access to shopping and schools. West Abbotsford, covering areas like Mt. Lehman, Bradner, and Clayburn, leans more rural and acreage style. And out toward Sumas Prairie and Sumas Mountain you get farmland and mountain access, popular with people who want more space and do not mind a longer drive to amenities.

Commuting to Vancouver is the question I get asked most. It is about 65 kilometers, roughly 40 miles, out Highway 1, and most people budget close to an hour each way depending on traffic, more during peak times. There is also the Fraser Valley Express bus service connecting into Metro Vancouver’s SkyTrain network for people who would rather not drive every day. It is not a short commute, but it is a manageable one, and it is a big part of why Abbotsford has stayed more affordable than communities closer to the city.

Day to day, Highstreet Shopping Centre covers most retail and dining needs, Mill Lake Park is the local go to for a walk or a run, and Sumas Mountain Regional Park has some of the better hiking in the valley. The University of the Fraser Valley gives the city a bit of a college town energy too. Abbotsford School District runs 46 public schools, and the Abbotsford International Airshow and Abbotsford International Airport give the city a profile bigger than its size would suggest.

Weather wise, expect mild, wet winters and warm, dry summers, with the occasional heat spike in July or August. Snow shows up now and then in December and January but rarely sticks around long.

If you are weighing a move to Abbotsford, or trying to figure out which part of the city fits how you actually live, I am happy to walk you through it street by street. Reach out anytime at 672-202-2120 or kyle@kylemcdermid.com.

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The Fraser Valley market cooled further in July, and the latest numbers from the Fraser Valley Real Estate Board tell a clear story: buyers have more room to negotiate than they’ve had in years. Here is what happened last month, and what it means if you are thinking about buying or selling in Abbotsford, Chilliwack, or Mission.

Total sales across the Fraser Valley came in at 1,089 for July, down 9% from a year ago and down 5% from June. The composite benchmark price landed at $877,600. Broken out by property type, single family detached homes benchmarked at $1,335,200, down 8.3% year over year, townhomes at $757,300, down 7.1%, and condos and apartments at $469,500, down 9.1%.

Inventory is the bigger story this summer. Active listings hit 10,044, which is 32% above the 10-year seasonal average for July. New listings actually slowed to 2,836, down 18% from last year, but there is still so much sitting on the market that the sales to active listings ratio sits at just 11%. That puts us firmly in buyer’s market territory.

For buyers, this is one of the more favorable windows we have seen in a while. There is more selection, more negotiating room, and less pressure to rush a decision. For sellers, pricing correctly from day one matters more than ever. Overpriced listings are sitting, while well-priced, well-presented homes are still finding buyers.

If you are weighing a move in Abbotsford, Chilliwack, or Mission and want to know what this shift means for your specific street or property type, I am happy to put together a no-obligation market snapshot for you. Reach out anytime at 672-202-2120 or kyle@kylemcdermid.com.

Source: Fraser Valley Real Estate Board, July 2026 statistics.

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New property listed in West End VW, Vancouver West

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