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The Journal · 28 September 2026

The $2 million line: why supply doubles above it

The short answerEvery detached band under $2 million is tighter than a year ago: 4.7, 4.1 and 5.9 months of supply. At $2 million it doubles to 12.8 months, and above $3 million it is 24.8. Four houses sold above $2 million in August; none above $3 million.
Analysis by Hamish Ross · 28 September 2026 · Data: September 2026 edition (August 2026 data)
The Evidence
MeasureAugust 2026, as read on 5 September
Under $1.2M4.7 months (5.7 a year ago), 26 sold in August
$1.2M to $1.5M4.1 (5.5), 20 sold
$1.5M to $2.0M5.9 (7.3), 19 sold
$2.0M to $3.0M12.8 (12.3), 4 sold, 48 median days
$3.0M and up24.8 (22.2), 0 sold in August, 16 in 13 months

What is happening

Below $2 million Langley is a family-house market with buyers waiting for stock. Above it, the buyer is choosing between the village, the acreage corridors and the new estate house, and there are two years of supply to choose from. The market is moving up in price and up in bedrooms at the same time, and the line where it stops is $2 million.

What it means

A seller above $2 million is competing with 24 months of shelf and should price to the last three sales, not the asking prices around them. A buyer above $2 million has the most leverage anywhere in Langley: 48 median days, and an offer under ask is the norm, not the insult.

What we are watching nextWhether the $2 million-plus shelf shrinks into autumn or the estate listings keep arriving faster than they sell.

Fraser Valley Real Estate Board MLS® August 2026 package, released 2 September 2026; sub-area and twelve-month figures from the board’s database, read 5 September 2026. Benchmarks are the board’s index price, never an average. Analysis: Hamish Ross.

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