Surrey Real Estate Market Report - September 2026

Surrey's Market Faces a Notable Decline

The most striking data point from the Fraser Valley Real Estate Board's August 2026 report is the 7.6% year-over-year decrease in the MLS® HPI composite benchmark price, now at $912,700. This decline signals a cooling market environment in Surrey, British Columbia, which is further compounded by the significant inventory levels.

Property Type Price Breakdown

The active listings total 4,276, with new listings in the past 30 days numbering 1,147. The price range of these listings spans from $90,000 to $45,501,600, reflecting a wide variance in property valuations across different segments.

Implications for Buyers

Buyers currently have a substantial selection with 4,276 active listings. This abundance could provide leverage in negotiations, especially with the benchmark price dropping by 7.6% year-over-year. Buyers should consider properties that have been on the market longer, as sellers may be more motivated to negotiate. Additionally, the range in list prices offers opportunities across various budget levels.

Implications for Sellers

Sellers face a challenging environment with the benchmark price decline and high inventory levels. To remain competitive, pricing strategies should be keenly aligned with recent comparable sales, especially given the 7.6% drop in the benchmark. Enhancing property appeal through minor upgrades or staging could also differentiate listings in a crowded market. Sellers should be prepared for potentially longer selling times and may need to adjust expectations accordingly.

30-Second Takeaway

Surrey's real estate market is cooling, with a 7.6% decrease in the benchmark price to $912,700 amidst high inventory. Buyers have ample choices and negotiation power, while sellers must be strategic in pricing and marketing to attract offers. The market's current dynamics favor buyers, demanding adaptability from sellers.