05/15/2026
Happy Victoria Day long weekend, Greater Vancouver & Fraser Valley! 🍁
Quick market update before you enjoy the sunshine:
Both the Metro Vancouver and Fraser Valley markets are showing a consistent story heading into the long weekend: this is one of the most inventory-rich buyer's environments in over a decade.
In Metro Vancouver, active inventory hit 16,236 listings with a sales-to-active ratio of just 13.5%. For context, below 12% is where we see meaningful price softening. Above 20%, sellers take control. At 13.5%, buyers have real leverage and time to make thoughtful decisions. The composite benchmark sits at $1,098,000, down 6.9% year-over-year.
In the Fraser Valley, May brought the first real month-over-month sales jump in a while, up 13% from April, with 1,183 transactions recorded. Inventory across the Valley is now at 10,626 active listings, up 34% year-over-year and 54% above the 10-year seasonal average. Buyers in Surrey, Langley, Abbotsford, and Mission have more choices and more time than they have in years.
Property spotlight this week: a detached home in East Abbotsford's Auguston neighborhood just listed at approximately $1,049,000. 4 beds, 3 baths, 2,650 sqft, updated kitchen with quartz and island, covered patio, mountain views from the primary suite, double garage, backs onto the Auguston trail network. Abbotsford's detached benchmark is $1,186,600 right now, down 4.5% year-over-year, and homes are sitting an average of 37 days. Buyers at this price point have more room to negotiate than they have in years. Worth paying attention to.
With a minimum down payment of $79,900, mortgage amount of $1,009,802 (includes mortgage default insurance), at 4.09% 5-year fixed, 30-year amortization, the estimated bi-weekly payment is approximately $2,237.98. Estimate only — individual rates and terms vary. To find out more, reach out anytime.
View East Abbotsford listings: https://www.realtor.ca/real-estate/29740100/34631-baldwin-road-abbotsford
On the rate front: the Bank of Canada held for the third consecutive decision. No movement in the overnight rate, GDP growth tracking around 1.2%, inflation at 2.4%. The environment is stable for now, and stable is useful when you're trying to plan. Fixed and variable are pricing differently right now because they're driven by different things. Worth a conversation if you're in a renewal window.
And for this weekend: Day of Music on Saturday has 70+ FREE performances across Downtown Vancouver and Granville Island, closing with a free VSO concert at the Orpheum. The Cloverdale Rodeo wraps up with its big Saturday parade. Playland opens for the season. Art Vancouver is at Canada Place all weekend. And the Canadians host Everett at Nat Bailey on Sunday afternoon. Not a bad long weekend to be in BC.
Full market breakdown in the newsletter, link in bio. And if you know someone approaching a renewal or thinking about buying in this market, send them my way.
📱 604.771.4085
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