March 2026 Market Update

After nearly a year of gradual price declines, the Fraser Valley market is starting to show early signs of stabilizing, with benchmark prices increasing slightly month-over-month for the first time in 11 months.

While sales activity improved in March compared to February, overall demand remains relatively subdued, with year-to-date sales still trailing behind last year — a clear sign that many buyers are continuing to take a cautious approach.

A total of 1,007 homes sold in March, representing a 20% increase from the previous month. However, this is still slightly below last year’s levels and well below the long-term seasonal average.

New listings also rose by 20% to 3,341, indicating that more sellers are entering the market ahead of the spring season, even as overall sales activity remains softer than usual.

Across the Fraser Valley

According to the Fraser Valley Real Estate Board, there were 1,007 sales in March, up 20% from February, but still slightly below last year and well below the 10-year seasonal average.

New listings increased to 3,341, also up 20% month-over-month, while active inventory rose to 9,201 homes, sitting roughly 50% above the long-term average.

The sales-to-active listings ratio came in at 11%, which keeps us firmly in a buyer’s market (a balanced market typically falls between 12%–20%).

Average Days on Market in March:
• Detached homes: 39 days
• Townhomes: 36 days
• Condos: 43 days

A Closer Look at Surrey

Detached benchmark prices increased slightly by 0.2% month-over-month to $1,463,500, but remain down 10.2% compared to last year, with sales rising 27.7% from February and up 12.6% year-over-year.

Townhome benchmark prices saw a modest 0.4% month-over-month increase to $792,700, while still down 8.0% year-over-year. Sales activity picked up as well, up 20.2% month-over-month, though still down 13.8% compared to last year.

Apartment benchmark prices declined 0.4% month-over-month to $477,100, and are down 9.3% year-over-year. Despite this, sales increased 19.8% from the previous month, though remain 20.4% below last year’s levels.

While prices are still lower compared to last year, the increase in sales across all property types suggests that buyers are beginning to step back into the market - particularly as inventory remains high and pricing becomes more attractive.