Surrey Real Estate Market Report
Executive Summary
Brian SuicoLocal expert · SurreyThe Surrey, British Columbia real estate market is currently classified as a buyer's market. The MLS® composite benchmark price is $917K, down 8.4% year-over-year.
There are currently 4,474 active listings, representing 8.8 months of inventory. 1,515 properties have sold in the past 90 days at a median sold price of $845K. Inventory has increased 32.2% compared to last month.
Currently, listings spend an average of 89 days on market and the average price per square foot is $742.
Board Data vs Our Listings
| Metric | Fraser Valley Real Estate Board | Our Listings |
|---|---|---|
| Benchmark / Median Price | $917K | $1.0M |
| Active Listings | 4,474 | 4,474 |
| Detached Benchmark | $1.3M | $2.9M |
| Townhouse Benchmark | $753K | $788K |
| Apartment Benchmark | $474K | $508K |
Detached properties make up the largest share of the Surrey market at 50% of active listings with an average price of $2.9M. Condo listings follow at 29% (avg $508K).
Sales Activity & Absorption
Volume
Market Signals
510 properties sold in the past 30 days, 1116 new listings appeared in the past month, 94 sellers reduced their asking price.
Market Balance
Months of Inventory
With 8.8 months of inventory, buyers have more options and negotiating leverage. Sellers should price competitively and be prepared for longer marketing times.
Neighborhoods
| Area | Listings | Avg Price |
|---|---|---|
| Whalley | 736 | $802K |
| Fleetwood Tynehead | 314 | $1.4M |
| Cloverdale BC | 293 | $1.3M |
| East Newton | 274 | $1.1M |
| King George Corridor | 269 | $1.0M |
| West Newton | 268 | $966K |
| Grandview Surrey | 265 | $1.6M |
| Sullivan Station | 247 | $1.3M |
| Guildford | 199 | $773K |
| Queen Mary Park Surrey | 167 | $1.2M |
| Clayton | 166 | $1.2M |
| Panorama Ridge | 146 | $1.8M |
Interest Rates & Affordability
Current Rates
Lower rates increase purchasing power. The Bank of Canada sets the policy rate which influences prime rates across lenders.
Estimated Monthly Payment
This is an estimate only. Actual rates and payments will vary based on your credit profile, lender, and mortgage terms.
Market Outlook
This is currently a buyer's market with more negotiating power for purchasers. The Surrey market currently has 4,474 active listings with a median price of $1.0M and 8.8 months of inventory.
According to Fraser Valley Real Estate Board, the composite benchmark price is $917K (-8.4% year-over-year).
- High inventory (8.8 months) favors buyers
- Low price reduction rate (2% of listings)
- Slow-moving market (89 avg days on market)
- Average price per square foot is $742
- Sold properties averaged -1 days on market
Data sourced from BCRES active and sold listings. Metrics computed from listing data updated daily, with benchmark statistics from Fraser Valley Real Estate Board. Prepared by Brian Suico with AI assistance, reviewed by our team.
Monthly Reports Archive
Market data is calculated from active and recently sold MLS® listings as of August 2026. Past performance does not guarantee future results. Consult a real estate professional for specific advice.
Data provided by CREA DDF. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA). Information deemed reliable but not guaranteed.