Trevor Miller

This recent headline above from the Fraser Valley Real Estate Board suggests the area’s market has reached a turning point, but the numbers might be telling us a slightly different story…

1. Sales are Up, but Context is Key

First, while sales saw an 11% month-over-month increase (1,118 total sales), this is largely a seasonal “spring bump.” The more significant stat is that this is the first year-over-year sales increase in over a year.

That’s good, right? It suggests maybe the market has found its floor. But there’s still one big problem… inventory!

2. A Massive Inventory Surplus

The “stability” the board mentions is being tested by a huge influx of listings.

• Active Listings: 9,816 homes are currently on the market.
• Historical Context: This is 45% above the 10-year seasonal average. Supply is growing alongside a demand that can’t quite keep up.
• The Result: Buyers aren’t feeling the usual pressure of a spring bidding war.

3. The “Buyer’s Market” Reality

The Sales-to-Active Listings Ratio sits at 11%.

What does that mean? Well, in real estate terms:

• 12% – 20%: considered a “Balanced” Market that doesn’t favour buyers or sellers.
• Below 12%: Buyer’s Market (Prices generally face downward pressure).
• Above 20%: Seller’s Market.
  

So, at 11%, the Fraser Valley is currently tucked just inside buyer’s territory, which explains why Benchmark prices only budged by a tiny 0.1% last month.

4. Price Breakdown (April 2026)

While there was a marginal monthly “gain” in the composite price, the year-over-year numbers show that home values are still significantly lower than they were in Spring of 2025:

The Verdict: So, the “stability” the board is referring to is actually a stabilization of activity, rather than a recovery of price. 

The good news is that people are finally buying again, which makes sense because the high inventory means more choice and less competition from other buyers. Prices are below average and borrowing costs are pretty good – generally ranging from 3.35% on a variable mortgage, to just over 4% for a fixed 5-year term.

So, whether you’re renting and looking to buy into the market or looking to upsize from a condo to a townhouse or a detached home, now is definitely your moment! 

So, ready to start your home search? Contact me and I’ll get you started with a curated selection of properties that fit your budget, plus a referral to my favorite mortgage specialist (this guy) to help you lock in your best rate!

Meantime, follow me on Instagram and Facebook regular market updates.