February 2026 Market Update

The Fraser Valley market showed some signs of life in February, with sales improving compared to January, even as activity remained quieter than what’s typical for this time of year. While the number of sales in February (789) was an improvement from January, this is still 38% below the 10-year seasonal average.

Improving sales numbers were experienced in Surry (343), Langley (220) & Abbotsford (115) but were still sluggish in the city of Mission (45). You can see the difference in the below chart.

WHAT KIND OF MARKET IS IT?

The Fraser Valley remains in Buyer’s Market territory with a combined Sales to Active Listing Ratio of 11.2%. Market conditions are typically considered balanced when the ratio ranges between 12% to 20%. Here are some quick guidelines about Sales to Active Listing Ratios:

• When the ratio is between 12-20%, the market (and prices) are balanced.
• Over 20% for a sustained period and there is upward pressure on prices. (Seller’s Market)
• Below 12% for a sustained period and there is usually downward pressure on prices (Buyer’s Market)

Currently the Sales-to-Active Listing ratios in the Fraser Valley by property type are as follows:

• Detached = 8.1%
• Townhomes = 15.9%
• Apartment condos = 13.3%

MARKET SNAPSHOT

Here the stats for three cities that I focus on including benchmark pricing:

REAL ESTATE REMINDERS 

• The Homeowner Grant: If you own and live in your BC home, apply for the homeowner grant to reduce your property taxes by up to $570 for the basic grant—or more if you’re a senior, veteran, or person with a disability. Don’t forget, you must apply every year by the July 2 deadline! Go to Home-Owner-Grant to review eligibility and to apply for the rebate.
• Speculation and Vacancy tax: The declaration window for the Speculation and Vacancy Tax is now open. You need your Letter ID and Declaration Code in order to apply (you should have received a letter with the information). If you don’t complete your declaration by March 31 you may be required to pay the tax based on the market value of your property. For more information or to complete your declaration go to: Speculation & Vacancy Tax

WHAT IS HAPPENING IN YOUR NEIGHBOURHOOD?

If want to understand how the market is in your specific neighbourhood, book a no obligation call or send me an email.

1 – The Fraser Valley Real Estate Board consists of the communities of Abbotsford, Langley, Mission, North Delta, Surrey and White Rock