Buyers are taking their time when it comes to Surrey’s real estate market.

The latest monthly market report by the Fraser Valley Real Estate Board (FVRB) for July 2026 highlights a continued downward trend on sales and prices.

Overall, total sales in Surrey last month were down 11.3% compared to this June, and down eight per cent compared to July 2025.

New listings in July 2026 were down 13.2% compared to this June, and down 20.1% compared to July 2025.

Active listings last month were down 9.4% compared to July 2025.

“Economic uncertainty continues to influence buying decisions, but the Fraser Valley has remained one of the Lower Mainland’s brightest spots for improving affordability,” said Anthony Boone, FVRB Interim CEO, in a news release.

“As home prices continue to ease, qualified buyers are finding opportunities that simply weren’t available a few years ago, particularly those looking to enter the market or downsize,” he said.

According to the report, in the Surrey-Central area, the benchmark price for a detached house in July 2026 was $1,325,500, almost unchanged from this June but down close to 10% year-over-year.

The July 2026 benchmark price for a townhouse and condo was $753,000 and $474,100 respectively, down 6.8 and 11.3% respectively from July 2025.

It’s a similar story for Surrey-Cloverdale, where the July 2026 benchmark price for a house was $1,354,400, down almost 5% from July 2026.

The benchmark price for a townhouse and condo last month was $762,500 and $506,700 respectively, both down significantly year-over year.

In Surrey-North, the benchmark price for a house last month was $1,264,900, down almost 12% from July 2025.

The benchmark price for a townhouse and condo was $686,100 and $408,300 respectively, both seeing big price drops from the same time last year.

Lots of Opportunities for First-Time Home Buyers, Downsizers in Surrey by Sandor Gyarmati | Delta Optimist