Surrey, BC Housing Market Update: August 2026

Surrey’s housing market shifted further into buyers’ favor this summer, and if you’re watching from the sidelines, August 2026 is worth a closer look. As a Surrey-area REALTOR® with Luxmore Realty, I’ve spent the past few weeks walking clients through what these numbers actually mean for their next move — and the short version is that negotiating room is back in a way we haven’t seen in years.

Key Takeaways

• The Fraser Valley composite benchmark price was $877,600 in July 2026, down 0.8% from June and down 7% year-over-year, according to the Fraser Valley Real Estate Board (FVREB).
• Surrey sales activity dropped 11.3% month-over-month and 8% year-over-year in July 2026, per FVREB data reported by Business in Vancouver.
• New listings in Surrey were down 13.2% from June and 20.1% from July 2025 — inventory is tightening even as prices soften.
• The FVREB benchmark apartment/condo price sat at $469,500 in July 2026, down 1.4% month-over-month and 9.1% year-over-year.
• Major transit investment, including the Surrey-Langley SkyTrain extension, continues to move forward and is reshaping long-term buyer interest along Fraser Highway.

Surrey BC Housing Market: Where Prices Stand

Across the Fraser Valley — which includes Surrey, Langley, Abbotsford, and Mission — the composite benchmark price landed at $877,600 in July 2026, according to the Fraser Valley Real Estate Board. That’s down 0.8% from June and a full 7% lower than the same month last year.

Condos and apartments softened the most on a percentage basis. The FVREB benchmark price for an apartment came in at $469,500, down 1.4% month-over-month and down 9.1% compared to July 2025. In my conversations with buyers this summer, that pullback has opened doors for people who were priced out of Surrey’s condo market just twelve months ago.

I want to be upfront about something: I don’t have a verified, board-sourced benchmark price broken out specifically for Surrey’s detached, townhouse, and condo segments for July 2026 at the time of writing. Rather than guess, I’d rather point you to current, board-verified numbers directly — contact me and I’ll pull the latest Surrey-specific benchmark data for the property type you’re interested in.

Sales and Listings Activity in Surrey

The bigger story in Surrey right now isn’t just price — it’s pace. Sales activity in Surrey fell 11.3% compared to June 2026 and was down 8% versus July 2025, based on FVREB figures reported by Business in Vancouver. At the same time, new listings dropped 13.2% month-over-month and 20.1% year-over-year.

That combination — fewer sales, but also fewer new listings — is a signal worth paying attention to. It suggests some of the pressure that pushed prices down over the past year may start to ease if listings stay this constrained heading into fall. For sellers who’ve been waiting for the “right moment,” a market with less competition from new inventory can actually work in their favor, even with softer prices than a year ago.

What’s Driving Long-Term Demand in Surrey

Prices move with the seasons and with interest rates, but Surrey’s longer-term story is being written by infrastructure. The Surrey-Langley SkyTrain extension — a $6 billion project extending the Expo Line roughly 16 kilometres along Fraser Highway from King George Station to 203 Street in Langley — now has all eight stations under construction, with guideway and trackwork progressing through 2026. The extension is expected to open in late 2029.

I’ve been telling clients looking at Surrey’s Fraser Highway corridor, Fleetwood, and Guildford that transit-adjacent value tends to get priced in well before a line actually opens. Whether you’re buying to live in or buying with a longer investment horizon, this is the kind of infrastructure commitment that shapes a neighbourhood for decades, not months.

Is Now a Good Time to Buy in Surrey?

For buyers, August 2026 conditions in Surrey lean favorable: prices are down year-over-year across the Fraser Valley, sales activity has cooled, and there’s more room to negotiate than there was a year or two ago. That said, tightening new listings mean the easiest window may not last indefinitely.

For sellers, pricing realistically against current benchmark data — not last year’s numbers — is essential. Homes priced in line with where the market actually sits in August 2026 are the ones moving; overpriced listings are sitting.

Every client’s situation is different, and these are broad trends, not a substitute for a property-specific opinion of value. If you’re weighing a move in Surrey this fall, I’d be glad to walk through what these numbers mean for your specific street and property type.

Frequently Asked Questions About the Surrey BC Housing Market

Q: Is Surrey a buyer’s market or a seller’s market in August 2026? Based on July 2026 FVREB data — falling prices, cooling sales, and declining new listings — Surrey is showing conditions that favor buyers on price, though tightening inventory could shift leverage back toward sellers if it continues.

Q: How much have Surrey home prices dropped in the past year? The Fraser Valley composite benchmark price was down 7% year-over-year as of July 2026, and the FVREB apartment/condo benchmark was down 9.1% year-over-year, per Fraser Valley Real Estate Board data.

Q: Will the Surrey-Langley SkyTrain increase home values near Fraser Highway? Transit expansions have historically influenced long-term demand along their corridors, and all eight stations of the Surrey-Langley SkyTrain extension are now under construction, with completion expected in late 2029. It’s a factor worth weighing for anyone buying along that route, though future value isn’t guaranteed.

Q: Should I wait to buy in Surrey until prices drop further? That depends on your personal timeline, financing, and goals — nobody can reliably time the bottom of a market. I’m happy to walk through current Surrey data specific to the neighbourhood and home type you’re considering so you can make an informed decision.

Q: What areas of Surrey are seeing the most buyer interest right now? Corridors along the upcoming Surrey-Langley SkyTrain extension, including Fleetwood and areas near Fraser Highway, continue to draw long-term buyer interest even as overall sales activity has cooled.

Thinking About Buying or Selling in Surrey This Fall?

Surrey’s market is giving buyers more breathing room than it has in years, while sellers who price accurately are still finding success. Whether you’re watching benchmark prices, weighing the SkyTrain’s long-term impact, or just trying to figure out what your own home is worth in today’s conditions, I’m here to help you make sense of it.

I’m Stephanie Wong, REALTOR® with Luxmore Realty, and I work with buyers, sellers, and investors across Surrey and the wider Fraser Valley every day. Call or text me at (778) 960-8269, or visit stephaniewong.ca/contact to schedule a free consultation. Let’s talk about what these numbers mean for you.