Surrey & Cloverdale Real Estate Market Update

by James Anderson

July 2026 Surrey & Cloverdale Market Update: Buyers Continue to Hold the Advantage

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

The Fraser Valley remained firmly in buyer’s market territory during July. Home prices continued to ease, inventory stayed above seasonal norms, and buyers remained cautious despite improving affordability.

Sales declined from both June and July 2025, while fewer sellers brought their homes to market. Although total inventory also edged lower during the month, buyers continue to have considerably more choice than they would in a typical market.

Conditions vary by community and property type. Detached sales showed resilience in parts of Surrey, while townhouse and condo activity generally remained softer. For sellers, strategic pricing and strong presentation remain essential in a market where buyers have time to compare their options.

FRASER VALLEY SNAPSHOT

The Fraser Valley Real Estate Board recorded 1,089 sales in July, down 5.1% from June and 8.5% from July 2025.

There were 10,044 active listings, down slightly from June but still 32% above the 10-year seasonal average. The sales-to-active listings ratio remained at 11%, keeping the Fraser Valley in buyer’s market territory.

New listings declined to 2,836, down 14.1% from June and 17.9% year over year.

The composite benchmark price was $877,600, down 0.8% from June and 7.2% from July 2025.

By property type:

Detached benchmark: $1,335,200, down 8.3% year over year
Townhouse benchmark: $757,300, down 7.1% year over year
Condo benchmark: $469,500, down 9.1% year over year

"With inventory remaining high and competition subdued, buyers know they don’t have to rush."

— Fraser Valley Real Estate Board

LOCAL MARKET HIGHLIGHTS

Cloverdale | July 2026 Real Estate Overview

Cloverdale’s detached market remained relatively resilient in July, with sales increasing from last year and benchmark pricing holding steady from June. Townhouse activity was softer, while condo prices recorded the largest annual decline.

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

Takeaway: Detached homes remain the strongest-performing segment, while townhouse and condo buyers continue to benefit from softer conditions.

White Rock/South Surrey | July 2026 Real Estate Overview

Detached sales increased compared to last year, while townhouse and condo activity remained softer. Benchmark prices declined across all three property types, continuing to improve affordability for buyers.

Infographic showing July 2026 South Surrey / White Rock real estate market stats 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.

Takeaway: Detached demand remains resilient, but lower prices and softer attached-home activity continue to create opportunities for buyers.

Langley | July 2026 Real Estate Overview

Langley showed mixed conditions in July. Townhouse sales remained relatively stable compared to last year, while detached and condo sales declined. Detached prices were one of the few benchmarks to increase from June.

Infographic showing July 2026 Langley real estate market stats 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.

Takeaway: Detached pricing and townhouse activity showed resilience, while the condo market remained softer.

North Surrey | July 2026 Real Estate Overview

Buyer activity remained cautious across North Surrey, with sales below last year across all property types. Benchmark prices also continued to ease, creating improved affordability and greater choice.

Infographic showing July 2026 North Surrey real estate market stats for October 2025 including benchmark prices for detached homes, townhomes, and condos, with year-over-year price changes, active listings, and total sales.

Takeaway: Softer sales and lower prices continue to give North Surrey buyers more negotiating flexibility.

Surrey Central | July 2026 Real Estate Overview

Detached sales increased compared to last year, while townhouse and condo activity softened. Benchmark prices remain below last year across all three property types.

Infographic showing July 2026 Surrey Central real estate market stats including benchmark prices for detached homes, townhomes, and condos, with year-over-year price changes, active listings, and total sales.

Takeaway: Detached homes continue to show resilience, while softer townhouse and condo conditions favour buyers.

WHAT THIS MEANS FOR YOU

For Buyers

The Fraser Valley remains one of the most buyer-friendly markets seen in several years. Inventory is still well above typical seasonal levels, prices continue to ease, and subdued competition gives buyers more time to evaluate their options.

Qualified buyers may have greater flexibility to negotiate price, terms, dates, and subjects. These conditions may be particularly helpful for first-time buyers, downsizers, and buyers who found the faster markets of previous years difficult to navigate.

However, not every segment is moving in the same direction. Detached homes in areas such as Cloverdale, Surrey Central, and White Rock/South Surrey showed stronger year-over-year sales activity in July. Buyers should assess conditions based on the specific community, property type, and price range they are considering.

For Sellers

Buyers are active, but they have plenty of options and little reason to rush.

Homes that are professionally presented, effectively marketed, and priced according to current conditions can still attract qualified buyers. However, properties that enter the market above comparable value may be overlooked as buyers compare them with competing listings.

New listings declined in July, which could gradually reduce competition if the trend continues. For now, a realistic pricing strategy and strong marketing plan remain essential.

LET'S TALK STRATEGY

July’s results show that improving affordability has not yet translated into stronger overall buyer demand. Sales declined, inventory remained above seasonal norms, and prices continued to move lower.

At the same time, conditions vary considerably between communities and property types. Detached homes showed resilience in several Surrey markets, while townhouses and condos generally faced softer demand.

Whether you’re buying, selling, downsizing, upsizing, or simply monitoring the market, understanding what is happening in your specific neighbourhood is key to making a confident decision.

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

—

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