Downsizing in the Fraser Valley, in plain words.
You bought years ago, and the house is worth more than you paid. We show what it sells for today, what you keep after costs and tax, and which smaller home fits, from Surrey to Chilliwack.
Or search condos, townhouses and one-level homes for sale
Benchmark prices, Fraser Valley Real Estate Board.
- Downsizing guide
- What you keep
- Sell or buy first
- Tax on the sale
- 55 and over buildings
- Condo, townhouse or rancher
Choose your city
SurreyHouse $1,386,200
LangleyHouse $1,471,100
AbbotsfordHouse $1,087,000
ChilliwackHouse $859,200
MissionHouse $889,200
Maple RidgeHouse $1,155,900
House benchmark price from each city's real estate board, September 2026 (Chilliwack: August 2026). Photos are illustrations.
Michael is the licensed REALTOR® behind the FRIVE team. When you ask for a home value, he reviews recent sales of homes like yours, and we email you a price range. We will tell you if we think waiting is the better choice for you.
Check his licence on realtor.caFree home value
What is your home worth today?
Tell us the address. A BC-licensed REALTOR® looks at recent sales of homes like yours and emails you a price range. It is free, and you do not have to sell with us.
How long a sale takes.
- House45days to sellFor sale3,261Sold in the month337
- Townhouse38days to sellFor sale1,630Sold in the month225
- Condo46days to sellFor sale2,153Sold in the month220
Average days to sell, active listings and sales for September 2026. Fraser Valley Real Estate Board.
Smaller homes, by city.
SurreyTownhouse $758,600Condo $447,600
LangleyTownhouse $802,600Condo $525,900
AbbotsfordTownhouse $592,600Condo $370,200
ChilliwackTownhouse $582,900Condo $401,000
MissionTownhouse $618,000Condo $411,500
Maple RidgeTownhouse $700,800Condo $513,400
Benchmark prices from each city's real estate board, September 2026 (Chilliwack: August 2026). Each row opens the homes for sale in that city.
New homes with less transfer tax.
BC removes the property transfer tax on a newly built home that you live in when it is worth $1,100,000 or less. On a $1,100,000 home that tax is $20,000. A smaller exemption applies up to $1,150,000. The price of a new home usually has 5% GST added.
What clients say.
"Michael is an exceptional real estate professional with an impressive depth of knowledge and expertise."
"Working with Michael was an excellent experience from start to finish. He is professional, knowledgeable, responsive, and truly cared about helping us find the right home."
"Michael is simply fantastic to work with! His knowledge of the market, professionalism, and genuine care for his clients make the process smooth and enjoyable."
"It was truly a pleasure working with Michael. Throughout the entire process, he was professional, communicative, and incredibly responsive."
"Michael is a stand up guy and an absolute pleasure to work with. Always dependable, always shows up, and genuinely cares about the people he helps."
Latest guides.
Guides and market posts from the FRIVE team, for downsizers and first-time buyers.
Backup Offers: Being Second in Line Without Being Stuck There
A backup offer puts you first if the accepted deal falls apart. It can also tie you up while you wait. Here is what to check before you sign one in BC.
Escalation Clauses: Why They Are Rare in BC and What Buyers Use Instead
An escalation clause bids for you automatically. It also shows the seller your ceiling and creates problems a fixed number does not. Here is why Fraser Valley buyers rarely see one.
How Long Does It Take to Sell a House in the Fraser Valley in 2026? Five Stages, From the Decision to the Day You Are Paid
The Fraser Valley Real Estate Board's average of 45 days for a detached house in September 2026 describes one stage of a sale. This guide sets out all five stages in order, what sets the length of each one, and how to find your own number.
Helping someone buy a first home? Our first-time buyer guides are here.
The programs, the down payment rules and the city guides for a first purchase in the Fraser Valley, written by the FRIVE team in plain English. Share them with the buyer in your family.
Browse all guidesSkip the transfer tax on resale homes.
B.C. charges a Property Transfer Tax (PTT) at closing, usually 1% on the first $200k and 2% on the rest. Under the First-Time Home Buyers Program, these resale condos & townhomes under $860k qualify for a full or partial exemption (saving you up to $8,000), with 0% GST.
Work out the numbers
before you view homes.
Simple tools that show what a first home costs each month, before you book a viewing.
Questions downsizers ask us first.
- How much is a typical house worth in the Fraser Valley?
- The benchmark price of a single-family detached house was $1,300,000 in September 2026, according to the Fraser Valley Real Estate Board. A townhouse was $745,300 and an apartment $461,800. A benchmark is the price of a typical home, so yours can sell above or below it.
- How much money is left after I sell my house and buy a smaller home?
- It depends on your sale price, what you still owe, and the home you buy. As an example, selling at the $1,300,000 house benchmark with no mortgage and buying at the $745,300 townhouse benchmark leaves $489,544, using an example 3% commission, GST, BC property transfer tax and example legal and moving costs. Our downsizing calculator runs your own numbers.
- Do I pay tax when I sell the house I live in?
- If the home was your principal residence for every year you owned it, you do not pay tax on the gain, according to the Canada Revenue Agency. You still report the sale on Schedule 3 of your tax return and file Form T2091. Talk to an accountant if you rented the home out or own a second property.
- Is there a standard real estate commission in BC?
- No. BC Financial Services Authority, the regulator, says there is no standard commission and that any amount can be negotiated between you, your real estate professional and the brokerage. When an offer arrives, your agent gives you a form that shows the commission in dollars for that offer.
- Should I sell my house before I buy the next one?
- Selling first gives you an exact budget, and you may need a place to live for a few weeks. Buying first means one move, and you pay for two homes until the house sells. A bridge loan can cover the gap. RBC requires a firm sale agreement on your existing home to qualify for one.
- Can I move into a 55 and over building?
- Yes, if your household meets that building's bylaw. Since November 24, 2022, a BC strata can restrict residents by age only at 55 and over, according to the Province. Some bylaws ask for one resident aged 55 or older and some ask for every resident. A younger spouse or partner, children, and a live-in caregiver are exempt.
- Do I pay property transfer tax on the smaller home?
- Yes. The buyer pays BC property transfer tax: 1% of the first $200,000, 2% from $200,000 to $2,000,000, and 3% above that. On a $745,300 townhouse that is $12,906. A newly built home worth $1,100,000 or less that you live in can be exempt.
- Does FRIVE still help first-time buyers?
- Yes. Our first-time buyer guides, calculators and school pages stay on the site, and the same BC-licensed team answers questions from buyers of every age. You can share those guides with a buyer in your family.
More questions? Read the full downsizing guide
Thinking about a move?
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