Surrey Real Estate Market Report
Executive Summary
The Surrey, British Columbia real estate market is currently classified as a buyer's market. The MLS composite benchmark price is $1.4M, down 0.1% year-over-year.
There are currently 4,753 active listings, representing 11.7 months of inventory. According to Fraser Valley Real Estate Board, there were 1,118 sales and 3,549 new listings in Invalid Date. Inventory has increased 4956.4% compared to last month.
Currently, listings spend an average of 6 days on market and the average price per square foot is $733.
Board Data vs Our Listings
| Metric | Fraser Valley Real Estate Board | Our Listings |
|---|---|---|
| Benchmark / Median Price | $1.4M | $1.0M |
| Active Listings | 9,816 | 4,753 |
Detached properties make up the largest share of the Surrey market at 48% of active listings with an average price of $2.5M. Condo listings follow at 31% (avg $527K).
Sales Activity & Absorption
Volume
Market Signals
Fraser Valley Real Estate Board reported 1,118 sales this period, 4659 new listings appeared in the past month, 1137 sellers reduced their asking price.
Fraser Valley Real Estate Board Monthly Report
For the first time in more than a year, Fraser Valley home sales recorded a year-over-year increase, with activity also rising month-over-month as the spring market begins to show renewed activity.
The Fraser Valley Real Estate Board recorded 1,118 sales on its Multiple Listing Service® (MLS®) in April, an 11 per cent increase from March and seven per cent above the same month last year.
Sellers continued to enter the spring market, with new listings rising six per cent from March to 3,549 — still above seasonal norms, but lower than this time last year.
“Market activity is picking up as we move through the spring, but overall conditions remain firmly in buyers’ favour,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “With inventory at healthy levels and housing affordability improving, buyers continue to have the advantage, although confidence remains tempered by ongoing economic uncertainty and persistent market headwinds.”
Overall inventory remains elevated in the Fraser Valley, with 9,816 active listings, up seven per cent from March and 45 per cent above the 10-year seasonal average.
The Fraser Valley remains in a buyer’s market, with an overall sales-to-active listings ratio of 11 per cent in April. A balanced market is typically defined by a ratio between 12 and 20 per cent.
“Current conditions are creating a more favourable buying environment than we’ve seen in recent years,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Buyers would be well-advised to consult with a REALTOR® to time their purchases to maximize the benefits of lower home prices while taking advantage of current borrowing costs.”
Across the Fraser Valley in April, the average number of days to sell a single-family detached home was 37 days, while for a townhome it was 32 days. Condos took, on average, 42 days to sell.
For the second month in a row, the composite Benchmark price for a typical home in the Fraser Valley increased, up 0.1 per cent in April, to $899,200.
MLS® HPI Benchmark Price Activity
Single Family Detached: At $1,374,800 the Benchmark price for an FVREB single-family detached home decreased 0.1 per cent compared to March 2026 and decreased 8.8 per cent compared to April 2025.
Townhomes: At $771,600 the Benchmark price for an FVREB townhome decreased 0.1 per cent compared to March 2026 and decreased 7.4 per cent compared to April 2025.
Apartments: At $491,000 the Benchmark price for an FVREB apartment/condo increased 0.4 per cent compared to March 2026 and decreased 8.3 per cent compared to April 2025.
For more information please contact Nikki Hewitt, Senior Communications Specialist nikki.hewitt@fvreb.bc.ca Telephone: 604.930.7654
Source: Fraser Valley Real Estate Board, Invalid Date
Market Balance
Months of Inventory
Supply and demand are roughly balanced.
Low absorption — inventory is building.
With 11.7 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 |
|---|---|---|
| Ocean Park | 19 | $2.5M |
| One Central | 15 | $553K |
| Morgan Creek | 14 | $2.7M |
| Panorama Ridge | 13 | $2.5M |
| Riverpointe | 10 | $491K |
| Evolve | 10 | $491K |
| Sullivan Station | 10 | $1.7M |
| Summerfield | 9 | $1.4M |
| Flamingo | 9 | $545K |
| Park Avenue West | 9 | $551K |
| Ledgeview | 9 | $511K |
| Prime On The Plaza | 9 | $472K |
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 4,753 active listings with a median price of $1.0M and 11.7 months of inventory.
According to Fraser Valley Real Estate Board, the composite benchmark price is $1.4M (-0.1% year-over-year). There were 1,118 sales recorded, with a sales-to-active listings ratio of 11.0%. This indicates a buyer's market with ample inventory relative to demand.
- High inventory (11.7 months) favors buyers
- Prices declining (-22.9% in 30 days)
- High price reduction rate (24% of listings)
- High sell-through rate (100%)
- Fast-moving market (6 avg days on market)
- Average price per square foot is $733
- Sold properties averaged -36 days on market
Data sourced from CREA DDF® active and sold listings. Metrics computed from listing data updated daily, with board statistics from Fraser Valley Real Estate Board. Prepared by Dan Braun with AI assistance, reviewed by our team.
Monthly Reports Archive
Market data is calculated from active and recently sold MLS® listings as of May 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.