October 2026 Market Update

HIGHLIGHT: Slower sales than October 2025 balanced against lower available inventory – this impacts you!

In October 2026, there was 9% less sales in the Fraser Valley (includes Surrey, Abbotsford & Mission), than the same month last year. However, market demand was countered by a significant -17% less available inventory than last year. This was mainly due to sellers not bringing new listings to the market in October (2254 new listings which is down by -15.5% compared to Oct 2025). For those looking to enter the market knowing the market dynamics will make a huge difference to your home search.

This article is full of stats you won’t find anywhere else. I take a daily deep dive into the market so that you know your numbers. Reach out if wanting to explore how this impacts you and your local market.

THE STORY SO FAR…

The story behind the October real estate market in the Fraser Valley is centered around the slower sales vs lower inventory. There were 961 sales which was lower than the 1058 sales registered in October 2025 or -9.2%. Interesting note here is that detached home sales actually experienced a small increase (434 vs 431) which seems small on the surface but detached home sales are actually slightly up when compared to 2025 by about 1% (Jan – Oct 2025 vs Jan – Oct 2026).

Comparatively, Apartment sales were down -16.7% and Townhome sales were down -8.2% within the same timeframe. This highlights that the market is not a “one size fits all” market. It is important to know what is happening in your local market and for the product type you are interested in.

Fraser Valley’s Biggest Winners and Losers of 2026

Apartments have been the Biggest Loser so far in 2026 experiencing a -16.7% decrease in sales and approximately -10% in benchmark prices compared to last year depending on the specific city (Surrey – 9.6%, Abbotsford – 10%, Mission -8.2%)

Detached

Jan 2026 – Oct 2026 – Detached sales = 3866

Jan 2025 – Oct 2025 – Detached sales = 3826

+1% increase in sales

Apartments

Jan 2026 – Oct 2026 – Apartment sales = 2547

Jan 2025 – Oct 2025 – Apartment sales = 3057

-16.7% decrease in sales

Townhomes

Jan 2026 – Oct 2026 – Townhomes sales = 2533

Jan 2025 – Oct 2025 – Townhomes sales = 2758

-8.2% decrease in sales

TELL ME MORE…

This highlights the weakness in the apartment and townhouse categories but particularly apartments. Buyers/Sellers of detached properties need to be aware of their specific market dynamics and not rely on headlines which only tell part of the story. For instance, while the market headline indicates -9% decrease in sales compared to October 2025, Detached home sales in Surrey are up +2.3% so far in 2026 (Jan – Oct). Compare this to Abbotsford, where Detached home sales are down -5.7% within the same timeframe.

THE OPPORTUNITIES

So if looking for buying opportunities here are some broad strokes:

• Surrey townhomes are slow, being down -10.5% year-to-date (Jan – Oct 2025 vs 2026). But the real opportunity is in Abbotsford which is down -8.7% during the same period for sales BUT also experiencing price pressure with a 10.1% benchmark price reduction compared to October 2025.
• Surrey apartments sales are -21.9% year-to-date (Jan – Oct 2025 vs 2026) AND benchmark prices are also under pressure with a -9.6% reduction compared to October 2025.
• Abbotsford apartment sales are down -6.5% over the same timeframe but benchmark prices have also been reduced by 10% since October 2025

While I haven’t called out Detached home sales as a specific buying opportunity, I think it goes without saying. While not experiencing the same pressures as apartments, detached homes have returned their gains experienced during the pandemic years.

SUMMARY

Things are changing quickly and I’ve referenced in other articles that the market is never a steady line – it will fluctuate with some quickly calling it a recovery when there is a slight improvement and others calling it a Shakespearian housing recession when there is a contraction. Any “recovery” will not appear in an organized linnear fashion and I suspect with the recent Bank of Canada interest rate increase, the ongoing pressures on employment, trade pressures and just a general “wait and see” approach that we may see prices lowering at least in the current environment. BUT THINGS CHANGE QUICKLY!

So here’s the key point for sellers and buyers. While a seller might point to a recent sale from the summer to price their home, prices have declined AND the buyer still has to finance the purchase at today’s rate. The buyer’s borrowing capacity since that recent property sold has diminished. Both buyers and sellers should be aware of the homes competing attention, the prices that have recently produced a sale and the seller’s cost of waiting. Let’s talk to figure out your best approach.

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