Surrey Real Estate Market Report - September 2026

Surrey Real Estate Market Faces Downward Pressure

The most striking figure from the Fraser Valley Real Estate Board's August 2026 report is the year-over-year benchmark price decline of 7.6%, bringing the MLS® HPI composite benchmark price down to $912,700. This drop signals a cooling market, impacting both buyers and sellers in Surrey.

Property Type Price Breakdown

With 2,016 houses and 1,956 condos currently on the market, buyers have a wide range of options. The absence of townhouses suggests a gap in the market that could influence future development trends.

Implications for Buyers

Buyers should leverage the increased inventory of 4,333 active listings to negotiate better terms. With 1,082 new listings in the last 30 days, the market is flush with opportunities. The significant drop in the benchmark price by 7.6% indicates potential for acquiring properties at lower prices. Buyers should focus on properties that have been on the market longer, as these may offer more room for negotiation.

Implications for Sellers

Sellers face a challenging environment with 383 MLS® sales in August 2026, suggesting slower market activity. Pricing strategies should be competitive, given the 7.6% decrease in the benchmark price. Highlighting unique property features and ensuring homes are in excellent condition can help attract buyers. With the current inventory levels, sellers may need to be prepared for longer timeframes to close sales.

30-Second Takeaway

The Surrey real estate market is experiencing a notable decline with a 7.6% drop in benchmark prices, presenting both challenges and opportunities. Buyers can capitalize on increased inventory and negotiate favorable deals, while sellers must adapt to competitive pricing and longer sales cycles. The absence of townhouses could indicate future development opportunities. Overall, strategic planning is essential for navigating this market effectively.