Surrey Real Estate Market: Q1 2026 Report

The Surrey real estate market continued its steady upward trajectory in Q1 2026, with the average home price reaching $985,000 — a 4.2% increase year-over-year. This growth was driven primarily by strong demand in the condo and townhouse segments, particularly in Surrey Central and Whalley.

Inventory levels rose 12.5% compared to last year, providing buyers with more options. However, the sales-to-listing ratio of 43.8% indicates the market remains balanced with a slight lean toward sellers in high-demand neighbourhoods.

Key highlights from Q1 2026: • Average days on market dropped to 24 days, down from 27 last quarter • Surrey Central saw the strongest price growth at 6.2% YoY • Whalley emerged as the fastest-moving market with just 14 average days on market • Fleetwood and Cloverdale maintained premium pricing above $1.2M • Total sales volume reached 1,842 transactions in the last 30 days

The condo market in Surrey Central continues to benefit from infrastructure improvements, including the Surrey-Langley SkyTrain extension. Pre-sale projects are seeing strong absorption rates, and resale condos are moving quickly at an average of 16 days on market.

Looking ahead to Q2, we expect continued moderate growth. The Bank of Canada's stable rate environment has given buyers more confidence, and the spring market typically brings increased activity. First-time buyers should pay attention to the Sullivan Station and Whalley areas, which offer the best entry-point pricing.

For sellers, the current market conditions are favourable, especially for well-priced, move-in-ready properties. Strategic pricing and professional marketing remain key differentiators. Contact 24K Realty Group for a personalized market evaluation of your property.