Joanne Taylor
Awarded
Rotarian of the Year
Rotary Club of South Surrey
2013
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FVRB News Release August 5, 2026
Improving affordability continues to outpace buyer demand
SURREY, BC – Fraser Valley home prices continued to edge downward in July, with the composite Benchmark price down 0.8 per cent from June and down seven per cent year-over-year. Despite improving affordability, buyers remained cautious, keeping sales well below typical seasonal levels.
The Fraser Valley Real Estate Board recorded 1,089 sales on its Multiple Listing Service® (MLS®) in July, a five per cent decrease from June and nine per cent below the same month last year.
"Buyer urgency has been notably absent from the Fraser Valley market for some time now," said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. "With inventory remaining high and competition subdued, buyers know they don't have to rush. They can take their time evaluating their options, knowing they can return to a market that continues to offer plenty of choice."
Seller activity slowed in July, with 2,836 new listings coming to market—a 14 per cent decline from June and 18 per cent below the same month last year. Overall inventory also edged down in July, with 10,044 active listings on the market, a three per cent decline from June, but still 32 per cent above the 10-year seasonal average.
The Fraser Valley remains in a buyer’s market with a sales-to-active listings ratio of 11 per cent in July. A balanced market is typically defined by a ratio between 12 and 20 per cent.
"Economic uncertainty continues to influence buying decisions, but the Fraser Valley has remained one of the Lower Mainland’s brightest spots for improving affordability," said Anthony Boone, Interim CEO of the Fraser Valley Real Estate Board.
"As home prices continue to ease, qualified buyers are finding opportunities that simply weren't available a few years ago, particularly those looking to enter the market or downsize."
Across the Fraser Valley in July, the average number of days to sell both a single-family detached home and a townhome was 40 days.
Condos took, on average, 46 days to sell.
The composite Benchmark price for a typical Fraser Valley home in July was $877,600.
Full package: https://www.fvreb.bc.ca/statistics/Package202607.pdf
MLS Benchmark Price Activity for JULY 2026 for *WHITE ROCK/SOUTH SURREY*
• Single Family Detached: At $1,647,200 the Benchmark price for a single-family detached home in the South Surrey/White Rock area decreased 9.7% from $1,824,200 from July last year and decreased 2.9% from last month in June ($1,696,300).
• Townhomes: At $834,900, the Benchmark price for a townhome decreased 10.2% from July last year ($929,900) and decreased 2.2% from last month in June ($853,400).
• Apartments: At $546,900 the Benchmark price for apartments/condos decreased 6.1% from $582,700 compared to July last year, and decreased 2.5% from last month in June ($560,800).
SALES FOR JULY 2026 (for *WHITE ROCK & SOUTH SURREY*)
Detached: 61 sales down 14.1% from 71 last month and up 13% from 54 from July last year.
Townhouses: 38 sales, down 24% from 50 last month and down from 41 last year in July.
Apartments: 57 sales up from 55 last month but down from 60 last year in July.
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The Importance of Market Data
One of the most important marketing tools Joanne uses in pricing and marketing a property is market statistics. This information includes comparisons between ‘listed’ properties (properties currently for sale) and ‘sold’ properties (properties that sold within a one-month period).
These comparisons are generated at the end of every month by the Multiple Listing Service® and are not available to the public. These reports help to determine the Current Market Conditions affecting your specific neighbourhood.
The “Sales-To-Actives Ratio” tells the percentage of inventory that is selling in a given month (sales for the month divided by the Active Listings = the per centage of homes that are selling). This provides a better idea of the sense of balance between total supply and demand.
To determine the type of Market, if 11 to 20 per cent of inventory is selling (with give & take), the market is balanced. A Seller's Market is when more than 20 per cent is selling, and when it's less than 11 per cent the reverse is the case and buyers have the upper hand.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.