Surrey Real Estate Market Report - August 2026

Surrey Market Sees Significant Price Correction

The most striking data point in Surrey's real estate market is the 8.4% year-over-year decline in the MLS® HPI composite benchmark price, now sitting at $916,600 as reported by the Fraser Valley Real Estate Board for July 2026. This correction indicates a notable cooling in the market compared to previous years.

Price Breakdown by Property Type

Implications for Buyers

With 4,485 active listings and 1,185 new listings in the past 30 days, buyers have a broad selection to choose from. The current list price range spans from $25,000 to $48,000,000, providing opportunities for various budget levels. The significant price decline of 8.4% year-over-year allows buyers to negotiate more aggressively. Buyers should focus on properties that have been on the market longer, as sellers may be more willing to lower prices.

Implications for Sellers

Sellers are facing increased competition with 4,485 active listings. The absence of townhouses in the current market could present an opportunity for sellers with such properties, potentially filling a niche demand. However, given the 8.4% decrease in benchmark prices, setting realistic pricing based on recent comparables is crucial. Sellers should also consider enhancing property appeal through minor renovations or staging to differentiate from the large pool of listings.

30-Second Takeaway

• Surrey's market shows a significant 8.4% price drop, with the benchmark at $916,600.
• Active listings total 4,485, with houses and condos dominating the market.
• Buyers benefit from a wide selection and price negotiations, while sellers must adopt strategic pricing and presentation.