Surrey Housing Market Report — March 2026
Surrey is British Columbia’s second-largest city with a population of approximately 568,000, making it one of Canada’s fastest-growing major cities. Located in the Fraser Valley Regional District just south of Metro Vancouver, Surrey spans over 316 km² and encompasses dramatically different sub-communities — from the urban intensity of Surrey City Centre and Whalley, to the established suburban character of Newton and Fleetwood, to the premium coastal lifestyle of South Surrey and White Rock.
Surrey reports within the Fraser Valley Real Estate Board (FVREB), which covers the market stretching east to Abbotsford and Mission. March 2026 data shows prices stabilizing with a slight monthly increase, though still below year-ago levels in buyer’s market conditions.
Key Highlights — March 2026 (FVREB):
- Average home price: $949,300 (est.)
- Market territory: Fraser Valley Real Estate Board (FVREB)
- Active listings elevated, sales rising but below seasonal norms
- Sales-to-active-listings ratio: 10.9% (buyer’s market)
- Population: 568,322 (City of Surrey, 2021 Census)
- SkyTrain Expo Line extension to Langley under construction
Surrey Home Prices — March 2026
| Home Type | Price Range (Approx.) |
|---|---|
| All Residential Average | $949,300 (est.) |
| Detached (North Surrey/Newton) | $1,100,000–$1,400,000 |
| Detached (South Surrey/White Rock) | $1,500,000–$2,500,000+ |
| Townhouse | $750,000–$1,000,000 |
| Condo Apartment | $400,000–$700,000 |
Pricing varies significantly across Surrey’s diverse sub-markets. Fraser Valley benchmark data for detailed property-type breakdown is available in the FVREB monthly statistics package.
Market Metrics — March 2026
| Metric | Value |
|---|---|
| Surrey Average Price | $949,300 (est.) |
| Fraser Valley Sales-to-Active | 10.9% (buyer’s market) |
| Fraser Valley Active Listings | 9,201 |
| Listings Trend | -0.2% YoY |
| Fraser Valley Total Sales | 1,007 (-2.8% YoY) |
| Data Source | Fraser Valley Real Estate Board (FVREB) |
Income Required to Buy in Surrey
Assumptions: 20% down payment, 3.99% contract rate (5.99% qualifying rate), 25-year amortization, GDS ratio of 32%, property tax $354/month, heating $150/month.
| Home Price | Mortgage (80%) | Income Required |
|---|---|---|
| $949,300 (Surrey avg) | $759,440 | $202,200 |
| $750,000 (townhouse) | $600,000 | $164,400 |
| $550,000 (condo) | $440,000 | $125,700 |
| $1,200,000 (detached) | $960,000 | $255,000 |
| $1,800,000 (South Surrey) | $1,440,000 | $379,900 |
Key Trends — Surrey March 2026
Buyer’s Conditions Persist: Surrey’s market mirrors the broader Fraser Valley buyer’s market, with elevated inventory and prices still below year-ago levels despite a small monthly increase. This environment continues to give buyers negotiating leverage, particularly in the condo and townhouse segments.
SkyTrain Expansion Impact: The Expo Line extension from King George Station through Clayton to Langley City is under active construction. Properties within walking distance of the future stations in Fleetwood, Clayton, and Langley are drawing investor and end-user interest despite the broader price softening. Surrey City Centre is already a dense urban node anchored by the existing King George and Surrey Central SkyTrain stations.
South Surrey Premium: The South Surrey and White Rock sub-market commands a significant premium over the rest of Surrey, driven by proximity to the ocean, Semiahmoo Bay, the U.S. Peace Arch border crossing, and established luxury amenities. Detached homes routinely exceed $1.5M–$2.0M.
Condo Development Pipeline: Surrey City Centre continues to absorb significant new high-rise condo completions. New construction units are entering a softer resale environment, creating negotiating opportunities for buyers. Assignment resales at below-cost pricing have appeared in the market.
Rental Demand: Surrey remains under-supplied in purpose-built rental housing relative to population growth. The rental vacancy rate is well below Metro Vancouver’s average.
Notable Neighbourhoods in Surrey
Surrey City Centre / Whalley: High-density urban core around Surrey Central and King George SkyTrain stations. Major institutions (SFU Surrey, Surrey Memorial Hospital), tallest towers in Metro BC outside downtown Vancouver. High-rise condos from $400k–$650k.
Newton: Established suburban neighbourhood in central Surrey. Diverse community with a range of housing types. Detached bungalows from $900k–$1.1M.
Fleetwood: Family-oriented mid-Surrey neighbourhood. Future Expo Line SkyTrain station area. Strong school catchments. Detached $1.0M–$1.4M.
Cloverdale: Historic Surrey neighbourhood with a boutique shopping district and agricultural heritage. Mix of older character homes and newer subdivisions. Detached $950k–$1.3M.
South Surrey: Premium lifestyle sub-market with Morgan Creek, Elgin Chantrell, Grandview Heights, and the Nicomekl River corridor. Large lots, executive detached from $1.5M–$3.0M+.
White Rock: Seaside city within Surrey. Beach promenade, pier, and a vibrant restaurant strip make it one of the Lower Mainland’s most desirable smaller communities. Semi-detached and older detached from $1.0M; detached with ocean views $1.5M–$2.5M+.
Guildford: Established mid-Surrey around Guildford Town Centre mall. Good transit connectivity to Metro Vancouver via 96 B-Line and King George SkyTrain. Townhomes from $700k–$900k.
BC Property Transfer Tax — Surrey
BC PTT on a $949,300 home:
| Portion | Rate | Tax |
|---|---|---|
| First $200,000 | 1.0% | $2,000 |
| $200,001–$949,300 | 2.0% | $14,986 |
| Total | ≈ $16,986 |
First-time buyers in Surrey may qualify for the BC First Time Home Buyers’ Exemption (full exemption on homes up to $500,000; partial exemption up to $525,000). Most Surrey homes exceed the threshold, so partial exemptions will be very limited.
New construction buyers may qualify for the Newly Built Home Exemption on qualifying properties priced up to $1,100,000.
Related Calculators & Tools
- Mortgage Affordability Calculator
- Land Transfer Tax Calculator
- CMHC Mortgage Insurance Calculator
- Vancouver Housing Market
- Fraser Valley Housing Market
- British Columbia Housing Market — provincial overview
- Canada Housing Market — national overview
Data Sources
- Fraser Valley Real Estate Board (FVREB) — March 2026 Statistics Package
- Canadian Real Estate Association (CREA) — National MLS® Statistics
- Data period: March 1–31, 2026