Surrey, Surrey - August 2026 Real Estate Report

Surrey Real Estate Right Now: Prices Are Holding, But Don't Get Too Comfortable

If you've been watching the "For Sale" signs in Surrey and wondering what's actually going on, here's the straight answer: the market isn't crashing, but it's not running hot either. Values are essentially flat, sales are quiet, and the gap between what the city thinks your home is worth and what a buyer would actually pay is real. That gap matters - and we'll get to it.

The Vibe: Houses vs. Condos

Let's break down what's happening for us locally, depending on what you own.

Houses in Surrey

If you own a house here, the city's assessment puts the average at $1,386,073. But the HonestDoor Price - which tracks real-world market movement, not a once-a-year government snapshot - sits at $1,456,002. That's a $69,929 difference. The predicted market value for houses is $1,457,888, which is just slightly dipping below the 3-month moving average of $1,458,035. Basically, house values are treading water right now.

• Average HonestDoor Price (Houses): $1,456,002
• Average Assessed Value: $1,386,073 - that's 5.05% below the HonestDoor Price
• Average Sale Price: $918,333
• Price Per Square Foot: $514
• Properties Sold (2026): 3
• Estimated Monthly Rent: $5,307
• Rental Yield: 4.35%
• Neighbourhood Growth: -0.04% year over year
• Growth Rank: 31 out of 45 neighbourhoods - below average in Surrey
• Price Rank: 37 out of 45 - among the most affordable in Surrey

Three sales in the period tells you this is a thin market. Low volume means each sale moves the needle more than usual - in either direction. The -0.15% recent value change is small, but the direction is worth watching.

Condos in Surrey

The condo picture is a bit more nuanced. Only one sale recorded, so take the averages with some context. Values have dipped more noticeably - down 1.42% recently - but the predicted market value of $639,116 is actually creeping up against the 3-month moving average of $638,351. So there's a small upward pull in the model even while recent performance has been softer.

• Average HonestDoor Price (Condos): $637,881
• Recent Change: -0.19% from previous period
• Average Sale Price: $575,000
• Price Per Square Foot: $531
• Properties Sold: 1
• Estimated Monthly Rent: $3,075
• Rental Yield: 3.56%
• Growth Rank: 35 out of 44 - below average
• Price Rank: 7 out of 27 - above average in price for condos in Surrey

That price rank is interesting. Our condos sit above average in price compared to other Surrey neighbourhoods, but growth is lagging. That's a combination that tells sellers to price carefully and tells buyers there may be room to negotiate.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here's the thing about BC assessments - they're a snapshot from July 1 of the previous year. By the time that number lands in your mailbox, it's already old news. The market has moved. Sometimes a little, sometimes a lot.

In Surrey right now, the average HonestDoor Price for houses is $1,456,002 - that's $69,929 higher than the average assessed value of $1,386,073. If you're a homeowner making any kind of financial decision - refinancing, selling, even just understanding your net worth - using the assessed value means you're working with a number that undersells your position by roughly 5%.

The HonestDoor Price updates continuously using current sales data and market signals. It's the real-world check. The assessment is the government's best guess from months ago. For a home worth over a million dollars, that difference isn't rounding error - it's real money.

The "So What?": Thinking About Selling This Summer?

Selling in Surrey this summer means going in with clear eyes. Here's what the numbers are actually telling us:

• Values are flat to slightly declining - this isn't a panic situation, but it's not a seller's frenzy either
• Sales volume is low - 9 total transactions recorded in 2026, with only 3 house sales and 1 condo sale in the recent period
• Low volume cuts both ways - fewer competing listings, but also fewer active buyers
• Surrey's house price rank of 37 out of 45 means we're on the affordable end for Surrey - that can attract buyers priced out of pricier pockets
• Nearby, West Newton is averaging $1,530,252 for houses - slightly higher than us - while South Newton sits at $1,183,530, cheaper and slower-growing

If you're thinking about listing, the window isn't closed - but pricing sharp matters more than ever in a low-volume market. A home priced at the HonestDoor Price, not the assessed value, is starting from the right place. Overpricing in a quiet market means sitting. And sitting in summer is not the plan.

Check your HonestDoor Price at HonestDoor.com before you have a single conversation with an agent. Know your number first.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.