Fraser Valley Real Estate Market Update: May 2026 - Langley Realtor Alex Maldeis

By Alex Maldeis PREC*

 

The Fraser Valley market remained relatively steady in May, with sales holding essentially flat compared to April. While buyer activity continues, elevated inventory levels and ongoing economic uncertainty are keeping the market firmly in buyer's market territory.

Here's what happened in May.

Market Snapshot: May 2026

1,124 total sales
Up 0.5% from April
Down 5.0% from May 2025

3,300 new listings
Down 7.0% from April
Down 17.6% year-over-year

10,140 active listings
Up 3.3% from April

Sales-to-active listings ratio: 11%

Balanced market = 12% to 20%

The Fraser Valley remains in a buyer's market.

Benchmark Prices: Fraser Valley

Composite benchmark price: $893,300

Down 0.7% from April
Down 7.3% year-over-year

By Property Type

Detached Homes

$1,366,500

Down 0.6% month-over-month
Down 7.9% year-over-year

Townhomes

$769,500

Down 0.3% month-over-month
Down 7.6% year-over-year

Condos

$483,800

Down 1.5% month-over-month
Down 8.8% year-over-year

After two months of modest price increases earlier this spring, benchmark prices moved lower again in May across all major property types.

Days on Market

Detached: 35 days

Townhomes: 37 days

Condos: 40 days

Homes continue to take longer to sell than they would in a balanced or seller's market, giving buyers more time to evaluate options and negotiate favorable terms.

What's Happening in Langley?

Langley continued to see healthy detached-home activity in May, with detached sales increasing both month-over-month and year-over-year.

Detached Benchmark

$1,522,700

Down 0.2% from April
Down 6.8% year-over-year

Townhome Benchmark

$817,100

Up 0.6% from April
Down 5.5% year-over-year

Condo Benchmark

$549,100

Down 0.9% from April
Down 8.7% year-over-year

Langley detached sales increased 21.6% compared to May 2025 and rose 13.9% compared to April. Townhome sales remained stable, while condo sales were slightly lower year-over-year.

New listings declined significantly in both the townhouse and condo segments, while active inventory remained elevated, continuing to provide buyers with plenty of choice.

Well-priced homes are still attracting attention, particularly detached homes in desirable neighborhoods. However, buyers remain selective and pricing strategy continues to be critical.

What This Means for Buyers

The current market continues to provide opportunities that were difficult to find just a few years ago.

Buyers currently have:

• More inventory to choose from
• Less competition from other buyers
• Lower prices than a year ago
• More negotiating power
• More time to make informed decisions

Move-up buyers in particular are benefiting from softer detached-home pricing, allowing many homeowners to access larger homes that may have previously been out of reach.

What This Means for Sellers

Success in today's market comes down to:

• Accurate pricing
• Strong presentation
• Professional marketing
• Strategic positioning against competing listings

Inventory remains high and buyers have options. Sellers who overprice their homes risk extended days on market and future price reductions.

The homes generating the strongest activity are typically the ones that are priced correctly from day one.

My Take

May's numbers suggest the Fraser Valley market is stable but cautious.

Sales remained consistent with April, inventory stayed elevated, and benchmark prices softened slightly across all property types. The market continues to favor buyers, but we're also seeing detached-home buyers becoming more active as affordability improves relative to recent years.

This is not a market crash. It's a market where buyers have options, negotiations matter, and realistic pricing wins.

For buyers who are financially prepared, conditions remain favorable. For sellers, strategy and execution matter more than ever.

If you'd like a breakdown specific to your neighbourhood in Langley, Surrey, White Rock, or anywhere in the Fraser Valley, reach out directly.

Alex Maldeis PREC*
Top 1% FVREB Realtor
RE/MAX Treeland Realty
604-789-5200
Alex@alexmaldeis.ca