Surrey Real Estate Market Report - October 2026
The latest real estate market report for Surrey, British Columbia. Average prices, listings data, and insights for buyers and sellers.
Surrey's Real Estate Market Faces a 7% Price Decline
The most striking figure in Surrey's real estate market is the 7% year-over-year decrease in the MLS® HPI composite benchmark price, now at $906,200, as reported by the Fraser Valley Real Estate Board for September 2026. This decline reflects a significant shift in market dynamics, impacting both buyers and sellers.
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Price Breakdown by Property Type
| Property Type | Active Listings |
|---|---|
| Houses | 1,981 |
| Condos | 1,958 |
| Townhouses | 0 |
The current inventory includes 1,981 houses and 1,958 condos, with a noticeable absence of townhouse listings. This distribution suggests a balanced demand between single-family homes and multi-unit dwellings, but a scarcity of townhouses could affect overall market options.
Implications for Buyers
With 4,305 active listings and a new 30-day influx of 1,224 properties, buyers have a broad selection, especially in the house and condo segments. The price range spans from $20,000 to $4,550,160, offering opportunities across various budget levels. The 7% price drop can be leveraged by buyers to negotiate better deals, particularly in a market with ample inventory. Buyers should focus on properties that have been on the market longer, as sellers of these homes might be more willing to negotiate.
Implications for Sellers
Sellers face a challenging market with a significant price decline and high inventory levels. To stand out, pricing strategies need to be competitive, especially with the benchmark price at $906,200. With nearly equal numbers of houses and condos available, sellers must highlight unique features and benefits to attract attention. Enhancing curb appeal and investing in minor renovations could provide the edge needed in a crowded market.
30-Second Takeaway
Surrey's real estate market is experiencing a notable 7% decline in benchmark prices, with a balanced inventory of houses and condos but no townhouses. Buyers benefit from a wide selection and potential negotiation leverage, while sellers must adopt competitive pricing and marketing strategies to succeed in a high-inventory environment.
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