Surrey Real Estate Market Report - August 2026

Surrey Real Estate Sees Significant Price Drop

The Fraser Valley Real Estate Board reports a notable -8.4% year-over-year decrease in the MLS® HPI composite benchmark price, now at $916,600 as of July 2026. This decline highlights a cooling market, potentially opening opportunities for strategic buyers.

Price Breakdown by Property Type

Implications for Buyers

With active listings at 4,453 and new listings in the past 30 days at 1,052, buyers have a wide range of options. The list price range spans from $90,000 to $45,501,600, suggesting opportunities across various budget levels. Buyers should leverage the decreased benchmark price to negotiate better deals, especially in a market with a high inventory of homes.

• Consider properties that have been on the market longer, as sellers may be more willing to negotiate.
• Explore listings below the benchmark price to find undervalued opportunities.
• Utilize the extensive inventory to compare and contrast properties before making an offer.

Implications for Sellers

Sellers face a challenging market with a high inventory and a significant drop in benchmark prices. With only 65 houses, 36 condos, and 23 townhouses actively listed, competition is fierce. Pricing strategies should be aggressive to attract buyers.

• Price your property competitively by considering recent sales data and current active listings.
• Enhance property appeal through minor upgrades or staging to stand out in a crowded market.
• Be prepared for extended time on the market and consider flexible terms to attract buyers.

30-Second Takeaway

The Surrey real estate market is experiencing a downturn with an 8.4% drop in benchmark prices. Buyers have a significant advantage with a large inventory and diverse price range, while sellers need to adopt competitive pricing and marketing strategies to succeed.