The Fraser Valley is Metro Vancouver’s eastern suburban market, stretching from Surrey and Langley to Abbotsford and Mission. Administered by the Fraser Valley Real Estate Board (FVREB) and distinct from Greater Vancouver REALTORS® reporting, the Fraser Valley offers more accessible price points than Metro Vancouver while maintaining strong links to the broader Lower Mainland economy via Highways 1 and 99, commuter rail, and the South Fraser Perimeter Road.
The composite MLS HPI benchmark was $871,200 in July 2026 (-7.1% YoY, per CREA’s HPI Tool). The most recent full sales/listings breakdown from FVREB’s own monthly infographic (March 2026) showed continued buyer’s market conditions with prices stabilizing month-over-month despite ongoing year-over-year declines; sales volume had rebounded from February’s lows.
Key Highlights – July 2026 composite benchmark, March 2026 full board breakdown (FVREB):
- Composite MLS HPI benchmark: $871,200 (-7.1% YoY, July 2026)
- Single-family benchmark: $1,316,300 (-8.1% YoY, July 2026)
- Townhouse benchmark: $750,700 (-7.0% YoY, July 2026)
- Apartment benchmark: $466,900 (-9.1% YoY, July 2026)
- Total sales (March 2026): 1,007 (+19.5% MoM, -2.8% YoY)
- New listings (March 2026): 3,341 (+19.5% MoM, -12.1% YoY)
- Active listings (March 2026): 9,201 (+10.3% MoM, -0.2% YoY)
- STAR (March 2026): 10.9% (buyer’s market below 12%)
- Market: buyer’s market
Fraser Valley Benchmark Prices by Property Type – July 2026
| Property Type | Benchmark Price | Year-over-Year Change |
|---|---|---|
| Composite | $871,200 | -7.1% |
| Single-Family | $1,316,300 | -8.1% |
| Townhouse | $750,700 | -7.0% |
| Apartment | $466,900 | -9.1% |
All figures are real MLS HPI benchmark data from CREA’s HPI Tool (July 2026). FVREB’s own March 2026 infographic reported detached at $1,375,600, townhouse at $772,700, and apartment at $489,200 – a slightly different methodology than CREA’s HPI Tool single-family figure, but directionally consistent with continued year-over-year softening.
Estimated sub-municipal averages: Surrey ~$949,000, Abbotsford ~$743,000, Langley ~$903,000, Mission ~$722,000, White Rock ~$1,053,000. These are estimates based on proportional February 2026 data.
Market Metrics – March 2026 (most recent full board breakdown)
| Metric | Value |
|---|---|
| Total Sales | 1,007 |
| Sales MoM / YoY | +19.5% / -2.8% |
| New Listings | 3,341 |
| New Listings MoM / YoY | +19.5% / -12.1% |
| Active Listings | 9,201 |
| Active Listings MoM / YoY | +10.3% / -0.2% |
| STAR (Sales-to-Active Ratio) | 10.9% |
| Market Condition | Buyer’s market |
| Data Source | FVREB (Fraser Valley Real Estate Board) |
Income Required to Buy in the Fraser Valley
The table below shows the gross annual household income required to qualify for a mortgage across key Fraser Valley price points.
Assumptions: 20% down payment, 3.99% contract rate (5.99% qualifying rate), 25-year amortization, GDS ratio of 32%, property tax $354/month, heating $150/month.
| Location | Home Price | Mortgage (80%) | Income Required |
|---|---|---|---|
| Fraser Valley (composite benchmark, July 2026) | $871,200 | $696,960 | $186,600 |
| Surrey (est.) | $949,000 | $759,200 | $201,400 |
| Abbotsford (est.) | $743,000 | $594,400 | $161,600 |
| Mission (est.) | $722,000 | $577,600 | $157,600 |
| White Rock (est.) | $1,053,000 | $842,400 | $218,800 |
Key Trends – Fraser Valley (July 2026 benchmark, March 2026 sales data)
Composite Benchmark Still Softening: The composite MLS HPI benchmark fell 7.1% year-over-year to $871,200 as of July 2026, with single-family homes down a steeper 8.1%. The pace of decline has been fairly consistent through the year.
Buyer’s Market Persisted in March: With a STAR of 10.9% in the most recent full board breakdown, the FVREB market remained below the 12% threshold. Sales volume had recovered (+19.5% MoM) while new listings grew more modestly relative to the seasonal norm.
Inventory Elevated: Active listings reached 9,201 in March, up 10.3% from February. Year-over-year, inventory was virtually flat (-0.2%), but remained significantly elevated compared to 2021-2022 lows.
New Listings Declining: New listings fell 12.1% year-over-year through March, which may limit inventory growth and contribute to a tightening STAR over time.
Notable Areas in the Fraser Valley
South Surrey / White Rock: The most premium Fraser Valley sub-market. Ocean-view properties, established neighbourhoods, and proximity to the U.S. border. Detached homes typically $1.2M–$2.5M+. South Surrey is technically within the City of Surrey, making it the upper-tier of that municipality.
Langley Township: Rapidly urbanizing with new suburban development, transit-oriented nodes around Willowbrook, and growing employment lands. Strong school ratings. Detached $900k–$1.2M in newer areas.
Langley City: Smaller urban core with higher-density development. Close to the future SkyTrain Expo Line extension to Langley. Townhouses $700k–$900k, condos $450k–$650k.
Cloverdale (Surrey): Heritage character shopping district with mixed-density residential. Transition zone between South Surrey and central Surrey. Detached $950k–$1.3M.
Abbotsford: BC’s 5th largest city and an agricultural hub. Drive time to Metro Vancouver is 60–90 min. Most affordable FVREB sub-market. Detached from $700k–$1.0M, condos from $380k–$550k. Strong university community (UFV).
Mission: Small city on the Fraser River. Active downtown revitalization. Mission/West Coast Express rail provides direct downtown Vancouver commute. Most affordable Fraser Valley option; detached from $600k–$850k.
BC Property Transfer Tax — Fraser Valley
British Columbia’s Property Transfer Tax (PTT) applies to all real estate purchases in the province.
BC PTT on an $871,200 home:
| Portion | Rate | Tax |
|---|---|---|
| First $200,000 | 1.0% | $2,000 |
| $200,001-$871,200 | 2.0% | $13,424 |
| Total | ≈ $15,424 |
First-time buyers may qualify for the BC First Time Home Buyers’ Exemption (full exemption on homes up to $500,000; partial exemption up to $525,000).
New construction buyers may qualify for the Newly Built Home Exemption on properties up to $1,100,000.
Related Calculators & Tools
- Mortgage Affordability Calculator
- Land Transfer Tax Calculator
- CMHC Mortgage Insurance Calculator
- Vancouver Housing Market
- Surrey Housing Market
- British Columbia Housing Market — provincial overview
- Canada Housing Market — national overview
Data Sources
- Fraser Valley Real Estate Board (FVREB) — March 2026 Statistics Package and Monthly Infographic
- Canadian Real Estate Association (CREA) — MLS® Home Price Index Tool, July 2026
- Data period: July 1-31, 2026 (HPI benchmark); March 1-31, 2026 (full sales breakdown)