Surrey Real Estate Market Report - August 2026

Surrey Real Estate Faces Notable Price Decline

The most striking figure in Surrey's real estate market is the 8.4% year-over-year decrease in the MLS® HPI composite benchmark price, now at $916,600, as reported by the Fraser Valley Real Estate Board for July 2026.

Price Breakdown by Property Type

Implications for Buyers

With 4,455 active listings and a wide list price range from $125,000 to $45,501,600, buyers have a broad spectrum of options. The significant decrease in the benchmark price suggests potential for negotiation, especially in a market with 1,177 new listings in the past 30 days. Buyers should capitalize on this opportunity by exploring properties that have been on the market longer, as sellers may be more willing to negotiate.

Implications for Sellers

Sellers face a challenging market with a decrease in benchmark prices and a substantial inventory of 4,455 active listings. With only 137 combined listings for houses, condos, and townhouses, competition is fierce. Sellers should consider strategic pricing and enhancing property appeal to attract buyers. It may also be beneficial to highlight unique features or recent upgrades in listings to stand out in a crowded market.

30-Second Takeaway

Surrey's real estate market is currently defined by an 8.4% drop in benchmark prices, with a substantial inventory of 4,455 active listings. Buyers are in a strong position to negotiate, while sellers need to adopt competitive pricing strategies and enhance property visibility to succeed in this market.