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
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
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.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.