Surrey & Cloverdale Real Estate Market Update

by James Anderson

May 2026 Surrey & Cloverdale Market Update: Buyers Remain in Control

This page is updated monthly with the latest Surrey, Cloverdale, Langley, and South Surrey real estate statistics.

The Fraser Valley market continued to favour buyers throughout May, with inventory remaining elevated and sales activity improving only modestly. While detached homes in several communities saw stronger buyer demand, the overall market remains characterized by increased selection, slower decision-making, and greater negotiating power for purchasers.

Benchmark prices across all major property types remain below last year's levels, but many areas are beginning to see pockets of resilience, particularly in detached housing. Buyers are benefiting from more choice than we've seen in years, while sellers face a more competitive environment that rewards strategic pricing and presentation.

FRASER VALLEY SNAPSHOT

The Fraser Valley Real Estate Board recorded 1,124 sales in May, an increase from April but still below typical spring market activity.

Active inventory climbed to 10,140 listings, keeping the market firmly in buyer's territory. The sales-to-active listings ratio sits at 11%, giving purchasers more leverage and flexibility than we've seen in recent years.

The Fraser Valley benchmark price now sits at $893,300, down 7.3% year-over-year as affordability concerns and economic uncertainty continue to influence buyer behaviour.

While sales remain below long-term averages, increased activity in detached housing suggests some buyers are beginning to take advantage of improved market conditions.

"With inventory remaining elevated and prices below last year's levels, buyers continue to have opportunities that haven't existed in several years."

— Fraser Valley Real Estate Board

LOCAL MARKET HIGHLIGHTS

Cloverdale | May 2026 Real Estate Overview

Detached homes continue to lead activity in Cloverdale, with sales increasing year-over-year despite softer benchmark pricing across all property types.

Infographic showing Cloverdale real estate market stats for October 2025 including benchmark prices for detached homes ($1,429,300), townhomes ($798,100), and condos ($551,900), with year-over-year price changes, active listings, and total sales. for May 2026

Takeaway: Detached homes remain the strongest-performing segment, while buyers continue to benefit from increased choice and negotiating power.

White Rock/South Surrey | May 2026 Real Estate Overview

White Rock and South Surrey continue to attract strong buyer interest, particularly in detached homes and townhouses. Sales increased in both segments despite prices remaining below last year's levels.

Infographic showing South Surrey / White Rock real estate market stats for October 2025 including benchmark prices for detached homes ($1,754,000), townhomes ($879,100), and condos ($581,300), with year-over-year price changes, active listings, and total sales for May 2026.

Takeaway: Detached and townhouse sales are showing resilience, highlighting continued demand for one of the Fraser Valley's most sought-after lifestyle markets.

Langley | May 2026 Real Estate Overview

Langley remains one of the Fraser Valley's most active communities, with detached home sales increasing more than 20% year-over-year.

Infographic showing Langley real estate market stats for October 2025 including benchmark prices for detached homes ($1,551,600), townhomes ($833,000), and condos ($578,000), with year-over-year price changes, active listings, and total sales for May 2026.

Takeaway: Strong detached home activity and increased inventory continue to create opportunities for both buyers and move-up sellers.

North Surrey | May 2026 Real Estate Overview

North Surrey remains a popular option for buyers seeking value and transit accessibility. While pricing remains below last year's levels, townhouse sales showed modest year-over-year growth.

Infographic showing North Surrey real estate market stats for October 2025 including benchmark prices for detached homes ($1,386,700), townhomes ($710,500), and condos ($439,600), with year-over-year price changes, active listings, and total sales for May 2026.

Takeaway: Buyers continue to benefit from improved affordability and selection, particularly in the townhouse market.

Surrey Central | May 2026 Real Estate Overview

Surrey Central continues to attract first-time buyers and investors drawn to transit access and relative affordability. Detached and townhouse sales increased year-over-year despite softer pricing.

Infographic showing Surrey Central real estate market stats for October 2025 including benchmark prices for detached homes ($1,426,800), townhomes ($780,700), and condos ($532,600), with year-over-year price changes, active listings, and total sales for May 2026..

Takeaway: Improving affordability and a growing selection of homes continue to support buyer activity in Surrey Central.

WHAT THIS MEANS FOR YOU

For Buyers

This remains one of the most buyer-friendly markets we've seen in several years. Elevated inventory levels provide more options, more time to make decisions, and greater negotiating leverage.

If you've been waiting for less competition and improved affordability, today's market offers opportunities that were difficult to find during the highly competitive years of the past decade.

For Sellers
Buyers are active, but they are selective.

Homes that are professionally presented, properly marketed, and accurately priced continue to generate interest. However, increased inventory means buyers have more alternatives and are less likely to compete aggressively for overpriced properties.

A strong pricing strategy and effective marketing plan are more important than ever.

LET'S TALK STRATEGY

Every community is different, and every move requires a strategy tailored to your goals.

Whether you're buying, selling, downsizing, upsizing, or simply keeping an eye on the market, understanding what's happening in your neighbourhood is key to making confident decisions.

Let's connect and discuss what today's market means for you.

—

James Anderson, PREC
james@kylelambrealestate.com
604-619-4523