Surrey Real Estate Market Update — March 2026

Surrey's real estate market in March 2026 continues the trend we have seen since late 2025 — higher inventory, longer days on market, and more negotiating room for buyers. Here is the neighbourhood-by-neighbourhood breakdown.

Condos: The average condo price across Surrey sits around $538,000, but location makes all the difference. Whalley (City Centre) offers the most affordable entry point with units starting in the mid-$300,000s near the SkyTrain hub and SFU Surrey campus. South Surrey condos command a premium, with newer buildings near Ocean Park averaging $650,000-$800,000. Strata fees across the city run $0.30-$0.50 per square foot — a one-bedroom condo typically costs $250-$400/month in strata fees. Over 180 presale developments are currently delivering units, with major completions at City Corners and Emerald Gardens expected in 2026.

Townhomes: The townhome market is where most family buyers compete. Average prices range from $700,000 to $900,000, concentrated in the growth areas of Clayton Heights and Fleetwood. Days on market have extended compared to 2024, and multiple-offer situations are less common — giving buyers room to negotiate conditions like subject-to-inspection without penalty. Strata fees for townhomes are generally lower than condos, averaging $150-$250/month.

Detached Houses: The widest price range exists in the detached market. Newton provides the best buying power with average prices around $823,000 — well below the $1.3 million Surrey-wide average. South Surrey luxury homes range from $1.5 million to $3 million+. A key consideration for house buyers: nearly 30% of Surrey's land area falls under the Agricultural Land Reserve (ALR), which prohibits subdivision and most commercial development. Always check ALR status before making an offer.

Commercial Real Estate: Surrey's commercial market totals approximately 2.7 million square feet across office, retail, and industrial categories. The big story for 2026 is the King George Boulevard BRT pilot launching in Q3, which will increase foot traffic for retail properties along the corridor. Scott Road's estimated 3-7x commercial expansion potential, supporting 10,000-20,000 jobs, represents a long-term opportunity for commercial investors.

Overall Market Conditions: The shift from seller to buyer control that began in 2025 is firmly established. Homes are taking 41-48 days to sell on average, compared to under 20 days at the 2022 peak. Inventory levels are healthy, giving buyers more choices and less pressure to waive conditions. For sellers, this means pricing correctly from day one is essential — overpriced listings sit and eventually sell below what an accurately priced home would have achieved.

For a personalized analysis of your Surrey neighbourhood, contact AG. Song at (778) 952-9177. Whether you are buying, selling, or evaluating your home's value, AG. Song provides data-driven guidance in English and Mandarin.