Surrey house prices have softened over the past year, in line with the broader Fraser Valley market. Here's where things stand across property types, and what's likely to move prices from here.
What Do Homes Cost in Surrey in 2026?
As of the Fraser Valley Real Estate Board's September 2026 report, Surrey's own benchmark prices were $1,386,200 for a single-family detached home, $758,600 for a townhome, and $447,600 for an apartment or condo. Across the board's whole territory the benchmarks were $1,300,000, $745,300, and $461,800, and region-wide prices were down year over year in every category: detached 8.8%, townhomes 6.2%, and apartments 9.3%.
Is Surrey a Buyer's Market Right Now?
Sales-to-active-listings ratios are running below the 12–20% range that typically signals a balanced market — inventory is elevated relative to buyer demand, which is the core reason prices have softened even as interest rates have come down from their peak.
What Could Move Surrey House Prices From Here?
A few forces are worth watching: the Bank of Canada's rate decisions (currently held at 2.25% for six straight decisions, with room to cut further if the economy weakens); the resolution — or further escalation — of the US-Canada tariff dispute, which affects both construction costs and broader economic confidence; and whether buyer demand responds to the affordability improvement that's already happened, or continues to wait on the sidelines.
Price Varies Enormously by Sub-Area
City-wide averages hide real variation — South Surrey and White Rock command a significant premium over Newton or Whalley, and even within a single neighbourhood, lot size, view, and condition can shift value substantially. Whole-city benchmark numbers are a useful starting point, not a substitute for an actual comparative market analysis on a specific property.
Manan tracks these numbers monthly and can walk through what they mean for your specific street or property type, not just the city-wide average.