Surrey in July 2026
Surrey (combined North Surrey, Central Surrey, Cloverdale, and South Surrey, excluding White Rock) recorded 383 total home sales in August 2026 across all property types — 152 detached, 124 townhouse, and 107 apartment sales. Detached sales rose 10.1% year over year while apartment sales fell 14.4%. Benchmark prices eased across every category: detached to $1,407,800 (down 0.3% on the month and 8.3% on the year), townhouses to $764,900 (down 1.0% and 7.8%), and apartments to $450,800 (down 1.2% and 9.5%).
Fraser Valley board-wide context: Across the entire Fraser Valley board area (which includes Surrey, Langley, White Rock, Abbotsford, Mission, and other communities), the composite benchmark price was $869,900 in August 2026, down 0.8% month-over-month and 7% year-over-year. Total board-wide sales were 1,089, down 5% from June and 9% from a year earlier. New listings fell to 2,836 (−14% MoM, −18% YoY), while active listings stood at 10,044 — 32% above the 10-year seasonal average. The board-wide sales-to-active-listings ratio was 11%, placing the overall market in buyer's territory (a balanced market is defined as 12–20%). Homes took an average of 40 days to sell for detached and townhouse properties, and 46 days for condos, board-wide.
Source: Fraser Valley Real Estate Board (FVREB), Fraser Valley Housing Market Statistics, August 2026 news release, published August 5, 2026.
Benchmark Prices — City of Surrey Combined
All three property categories in Surrey declined year-over-year, with apartments seeing the steepest benchmark drop at 10.4%. The benchmark price reflects a typical property and is less distorted by high-end sales than a simple average.
| Property Type | Benchmark (HPI) | MoM | YoY | Sales (July) |
|---|---|---|---|---|
| Detached | $1,407,800 | ▼ 1.4% | ▼ 9.2% | 179 |
| Townhouse / Attached | $764,900 | ▼ 1.1% | ▼ 7.7% | 142 |
| Apartment / Condo | $450,800 | ▼ 0.9% | ▼ 10.4% | 128 |
Source: Fraser Valley Real Estate Board (FVREB), Fraser Valley Housing Market Statistics, August 2026 ("City of Surrey – Combined": North Surrey, Central Surrey, Cloverdale, South Surrey; excludes White Rock, which FVREB reports separately).
July 2026 Sales by Property Type
Source: Fraser Valley Real Estate Board (FVREB), Fraser Valley Housing Market Statistics, August 2026. Active listings and months-of-supply figures specific to Surrey were not published in the August 2026 FVREB release — see the Fraser Valley board-wide figures in the Market Overview section above for broader supply context.
What's Driving the Market
Buyer sentiment: FVREB Chair Ishaq Ismail summed up the current climate: "Buyer urgency has been notably absent from the Fraser Valley market for some time now. With inventory remaining high and competition subdued, buyers know they don't have to rush." That dynamic is visible across Surrey's three property segments, all of which posted year-over-year benchmark declines in July.
Affordability improving: FVREB Interim CEO Anthony Boone noted that "the Fraser Valley has remained one of the Lower Mainland's brightest spots for improving affordability... qualified buyers are finding opportunities that simply weren't available a few years ago." Lower benchmark prices combined with the Bank of Canada's overnight rate holding at 2.25% have improved qualification math for many Surrey buyers, though the mortgage stress test still requires qualifying at the greater of the contract rate + 2% or 5.25% — see our 2026 OSFI stress test guide for how this affects borrowing power.
Supply: Board-wide active listings sat 32% above the 10-year seasonal average in July, giving Surrey buyers more selection and negotiating room than in recent years.
Key Terms
Surrey Rents — July 2026
Surrey renters paid an average of $1,794/month for a one-bedroom unit and $2,239/month for a two-bedroom unit in July 2026. Wondering whether renting or buying makes more sense at current prices? Try our rent vs. buy calculator.
Source: Rentals.ca National Rent Report (with Urbanation), published August 6–7, 2026. View full Canadian rent report →