Home prices in the Fraser Valley, Canada, continued their decline for the tenth consecutive month in January 2026, according to the Fraser Valley Real Estate Board (FVRB) report. Sales fell by 33% compared to December 2025 and by 24% compared to January 2025, with prices continuing to drop amid a surplus of housing supply.
FVRB President Torie Jacobsen noted that the market in January started with a clear weakness, creating favorable conditions for buyers, but he emphasized that ongoing uncertainty is undermining their confidence and limiting market activity.
Housing inventory remains above seasonal averages, up 11% compared to December and 54% higher than the ten-year average. The benchmark price for North Delta homes reached CAD 1,269,100 in January, representing a 10.5% annual decline.
Meanwhile, townhouses and condos recorded benchmark prices of CAD 901,700 and CAD 517,700, respectively, showing a notable year-over-year drop. In the city of Surrey, similar trends were observed, with the average price of a detached home falling to CAD 1,468,500, down 8.3% year-over-year.
North Surrey recorded the largest decline, exceeding 10%. Townhouse prices (CAD 789,300) and condo prices (CAD 480,800) also experienced annual decreases of more than 7% and 8%, respectively.
