A Closer Look at Abbotsford, Mission, Chilliwack, and Langley

The Fraser Valley housing market continues to tilt in favour of buyers this summer, with sales slowing, inventory remaining high, and benchmark prices edging down across most communities. Let’s break down what’s happening in our local markets.

Fraser Valley Overview

In August, 931 sales were recorded across the Fraser Valley, a 22% decline from July and 13% lower than last year. Sales sat 36% below the 10-year average, underscoring the strength of today’s buyer’s market.

Active listings remain elevated at 10,445, up 21% year-over-year, giving buyers plenty of options. The sales-to-active listings ratio dropped to 9%, well below the balanced range of 12–20%.

Prices softened further:

• Detached homes: $1,436,800 (↓5.7% year-over-year)

• Townhomes: $807,800 (↓4.5%)

• Apartments: $514,100 (↓5.9%)

Abbotsford

Abbotsford saw a mixed month:

• Detached sales: 50 (↓7.4% year-over-year)

• Townhouse sales: 42 (↑44.8%)

• Apartment sales: 49 (↓18.3%)

Inventory surged, with townhouse listings up 50.6% and apartment listings up 48.1% compared to last year.

Prices showed modest declines:

• Detached: $1,171,900 (↓4.1%)

• Townhouse: $645,700 (↓2.8%)

• Apartment: $421,800 (↓4.8%)

Mission

Mission had a surprisingly strong month for detached homes:

• Detached sales: 38 (↑52% year-over-year)

• Townhouses: 8 (flat vs last year)

• Apartments: 6 (↑20%)

Benchmark prices slid, however:

• Detached: $1,025,400 (↓2.0%)

• Townhouse: $656,500 (↓4.1%)

• Apartment: $434,700 (↓5.9%)

Chilliwack

While the stats package focuses on Fraser Valley Real Estate Board communities, Chilliwack’s market—just east of Mission—mirrors these trends. Detached homes are still adjusting downward, with affordability improving compared to 2022 highs. Local demand remains steady from families and retirees, but inventory continues to outpace sales, creating opportunities for buyers.

Langley

Langley recorded mixed activity:

• Detached sales: 72 (↓4% year-over-year)

• Townhouses: 72 (↑14.3%)

• Apartments: 48 (↓44.2%)

Listings increased significantly in most categories, with apartment inventory up 31.7% compared to last year.

Prices followed the regional cooling trend:

• Detached: $1,590,800 (↓3.4%)

• Townhouse: $848,100 (↓4.1%)

• Apartment: $589,500 (↓3.6%)

What This Means for Buyers and Sellers

For buyers, this is one of the most favourable markets in years. Inventory is high, competition is low, and prices are gradually softening. Sellers, however, need to be strategic—pricing realistically and being open to negotiation is key to standing out in today’s buyer-driven environment.

Bottom line: The Fraser Valley—especially Abbotsford, Mission, Chilliwack, and Langley—is firmly in a buyer’s market. Detached homes are leading sales in Mission, townhomes are seeing strength in Abbotsford and Langley, and apartments are under pressure across all cities.