The numbers below come from the Fraser Valley Real Estate Board (FVREB) and Greater Vancouver REALTORS® (GVR) monthly statistics packages — the same primary sources the boards publish. Each figure is the MLS® Home Price Index benchmark, which represents a typical home and is adjusted for property characteristics so month-to-month movement reflects the market, not a different mix of homes selling.
Surrey & Fraser Valley Housing Market FAQ
Straight answers to the questions buyers and sellers actually ask about Surrey, Langley, and the Fraser Valley — benchmark prices, the buying process, foreign-buyer rules, and the SkyTrain — with verified real estate board statistics. From AG. Song, REALTOR®, serving in English, Mandarin, and Cantonese.
Benchmark Prices — May 2026
| Area | Detached | Townhouse | Apartment |
|---|---|---|---|
| Fraser Valley (all) | $1,366,500 | $769,500 | $483,800 |
| Surrey (combined) | $1,448,300 | $786,600 | $467,500 |
| North Surrey | $1,270,000 | $718,800 | $416,400 |
| Central Surrey | $1,356,500 | $758,600 | $488,100 |
| Cloverdale | $1,378,100 | $766,200 | $539,000 |
| South Surrey & White Rock | $1,727,000 | $863,100 | $576,800 |
| Langley | $1,522,700 | $817,100 | $549,100 |
| Metro Vancouver | $1,847,900 | $1,048,200 | $697,800 |
(Source: FVREB Monthly Statistics Package, May 2026; data as of 2026-06-12; MLS® HPI benchmark; FVREB 'City of Surrey – Combined' aggregate (board's '*' caveat)). Metro Vancouver figures from GVR; Fraser Valley and Surrey/Langley sub-areas from FVREB. Benchmarks are typical-home values, not list or sale prices.
Benchmark Price Trend — 2026
Month over month, the Fraser Valley market has moved within a narrow band in 2026 — prices easing modestly rather than swinging. The charts below track the MLS® HPI benchmark from January through May.
- Detached
- Townhouse
- Apartment
View the data table
| Month | Detached | Townhouse | Apartment |
|---|---|---|---|
| Jan | $1,373,100 | $773,100 | $488,600 |
| Feb | $1,370,900 | $770,700 | $488,300 |
| Mar | $1,375,600 | $772,700 | $489,200 |
| Apr | $1,374,800 | $771,600 | $491,000 |
| May | $1,366,500 | $769,500 | $483,800 |
MLS® HPI benchmark, Jan–May 2026. Source: FVREB Monthly Statistics Packages; data as of 2026-06-25. Benchmarks are typical-home values, not list or sale prices.
- South Surrey & White Rock
- Langley
- Surrey (Central)
- Fraser Valley
View the data table
| Month | South Surrey & White Rock | Langley | Surrey (Central) | Fraser Valley |
|---|---|---|---|---|
| Jan | $1,728,000 | $1,505,900 | $1,393,800 | $1,373,100 |
| Feb | $1,722,800 | $1,516,100 | $1,372,700 | $1,370,900 |
| Mar | $1,718,500 | $1,513,100 | $1,371,400 | $1,375,600 |
| Apr | $1,740,600 | $1,526,200 | $1,373,800 | $1,374,800 |
| May | $1,727,000 | $1,522,700 | $1,356,500 | $1,366,500 |
MLS® HPI benchmark, Jan–May 2026. Source: FVREB Monthly Statistics Packages; data as of 2026-06-25. Benchmarks are typical-home values, not list or sale prices.
Prices & the market
Are house prices dropping in Surrey?
As of May 2026, the Fraser Valley Real Estate Board reported a sales-to-active-listings ratio of 11% across the Fraser Valley — a level the board generally associates with a balanced-to-buyer's market, where prices tend to hold or ease rather than climb sharply. Direction varies by property type and area; ask AG. Song for the recent comparable sales on a specific home.
How much is a detached house in Surrey right now?
The MLS® Home Price Index benchmark for a detached house across the City of Surrey was $1,448,300 in May 2026. South Surrey and White Rock sit higher ($1,727,000), while North Surrey is lower — the benchmark is a typical-home figure, not a list price, so always compare against actual recent sales.
How much is a townhouse in Surrey or Langley?
In May 2026, the MLS® HPI townhouse benchmark was $786,600 across the City of Surrey and $817,100 in Langley (FVREB). Townhomes are the most active family segment in both markets, so well-priced units move quickly.
How much is a condo in Surrey?
The MLS® HPI apartment (condo) benchmark across the City of Surrey was $467,500 in May 2026 (FVREB). Condos are the usual entry point; strata fees, building age, and the depreciation report affect value as much as the sticker price.
Is Langley more affordable than Surrey?
It depends on the property type. In May 2026, the detached benchmark was $1,522,700 in Langley versus $1,448,300 across the City of Surrey (FVREB) — close, and either can lead depending on the exact area. Townhomes are often the deciding factor for buyers choosing Langley.
How do Fraser Valley prices compare to Vancouver?
Greater Vancouver remains higher: the GVR detached benchmark was $1,847,900 for Metro Vancouver in May 2026, versus $1,448,300 across the City of Surrey (FVREB). The Fraser Valley generally offers more space for the price, which is why many buyers look east.
When is the best time to buy in the Fraser Valley?
There is no single best month. Inventory and competition usually build in spring and ease over winter, but the right time depends on your financing, the segment you're targeting, and current conditions. The sales-to-active ratio is a better signal than the calendar — AG. Song can read it for the property type you want.
Buying & first-time buyers
How much down payment do I need to buy a home in BC?
Minimum down payment in Canada is tiered by price (a lower percentage on the first portion, more above it, and 20% once a home passes the high-ratio cap). Below 20%, mortgage default insurance applies. Because the thresholds and insurance rules change, confirm the current figures with your lender or the Financial Consumer Agency of Canada before budgeting.
What is the BC First-Time Home Buyers' Property Transfer Tax exemption?
BC offers a Property Transfer Tax exemption that reduces or eliminates the tax for eligible first-time buyers up to a provincial price threshold, with a partial exemption above it. Eligibility covers residency and never-having-owned conditions, and the threshold is updated periodically — check the BC government Property Transfer Tax page for the current limit.
What is the FHSA (First Home Savings Account)?
The federal First Home Savings Account lets eligible first-time buyers save toward a home with tax-deductible contributions and tax-free qualifying withdrawals, subject to annual and lifetime contribution limits. Confirm the current limits and rules on Canada.ca, as they're set federally and can change.
How do I get pre-approved for a mortgage?
A lender or mortgage broker reviews your income, debts, and down payment and issues a pre-approval — usually requiring recent pay stubs, T4s, bank statements, and ID. A pre-approval tells you a realistic budget and rate hold before you write offers. AG. Song can recommend mortgage professionals if you don't have one.
What are closing costs when buying a house?
Beyond the down payment, plan for Property Transfer Tax, legal/notary fees, a home inspection, an appraisal if your lender orders one, title insurance, and adjustments. They typically add up to a few percent of the price. Your lawyer or notary will give a precise statement of adjustments before completion.
Should I include a subject-to-inspection or subject-to-financing clause?
Subject clauses (conditions) protect you — a financing condition confirms your mortgage, an inspection condition confirms the home's condition — within a set window before the sale becomes firm. How they're used shifts with the market; AG. Song advises on which conditions to include and the right timelines for your offer.
Neighbourhoods, schools & the SkyTrain
Which Surrey neighbourhood should families consider?
It depends on budget and priorities. South Surrey and Cloverdale draw families for schools and quieter streets; Fleetwood and Clayton sit on the growth path near the SkyTrain extension; Newton and North Surrey hold the more attainable stock. School catchments and commute differ block to block — worth mapping before you shortlist.
How will the Surrey Langley SkyTrain affect home values?
The Surrey Langley SkyTrain is a 16-kilometre Expo Line extension with eight new stations along Fraser Highway, anticipated to open in 2029. Areas near future stations — Fleetwood, Clayton, and Langley City — typically see rising buyer interest ahead of opening. Whether that becomes a specific price change for a given home depends on the property; review recent comparables.
What's the difference between White Rock, South Surrey, and Cloverdale?
These are distinct markets. South Surrey and White Rock carry the area's premium — the detached benchmark was $1,727,000 in May 2026, reflecting ocean proximity and schools. Cloverdale is more attainable with heritage character and the Clayton growth area nearby. Each has its own catchments and commute profile.
What's the commute from Surrey to Vancouver?
Today, the Expo Line runs from Surrey City Centre to downtown Vancouver, with driving times that vary widely by time of day along Highway 1 and the bridges. The Surrey Langley SkyTrain extension (anticipated 2029) will extend rapid transit further east along Fraser Highway, changing the commute calculus for Fleetwood, Clayton, and Langley buyers.
Foreign buyers, newcomers & non-residents
Can a non-Canadian buy a home in Surrey or Langley?
A federal Act restricts most non-Canadians from buying residential property in Census Metropolitan Areas — which include the Surrey and Langley area — currently through January 1, 2027. Several exceptions exist, including some work-permit holders and joint purchases with a Canadian spouse. Get independent legal advice before making an offer; AG. Song can help assess whether an exception applies.
Can a work-permit holder buy property here?
Some work-permit holders qualify for an exception to the federal prohibition, subject to conditions on the permit's remaining validity and the number of properties. The rules are specific and have been amended, so confirm your eligibility with a real estate lawyer before you commit. See the CMHC and Justice Laws Canada pages for the governing text.
Pre-sales, strata & selling
Can I assign a pre-sale condo contract before completion?
Pre-sale (off-plan) contracts can often be assigned before completion, but usually only with the developer's consent and sometimes a fee, and the contract terms govern what's allowed. Assignments have tax and disclosure implications — have a lawyer review the contract first. The BCFSA consumer pages explain pre-sale buyer protections.
What is the rescission period for a pre-sale home in BC?
BC law gives pre-sale buyers a statutory rescission (cooling-off) period after signing or receiving the disclosure statement, during which you can cancel. The exact length and start point are set by provincial legislation — confirm the current rule with your lawyer or the BCFSA before relying on it.
What are typical strata fees, and do they affect my mortgage?
Strata fees cover building insurance, common-area maintenance, and the contingency reserve fund; they vary by building age, amenities, and size. Lenders count strata fees in your debt-service calculation, so higher fees reduce the mortgage you qualify for. Always review the strata documents and depreciation report — AG. Song does this with every strata purchase.
How much is REALTOR® commission when selling, and is it negotiable?
Real estate commission in BC is not fixed by any board or law — it is negotiated between the seller and the listing brokerage, and is disclosed in the listing contract. GST applies. AG. Song will explain the proposed commission and the marketing it funds in writing before you sign.
How long does it take to sell a home in Surrey or Langley right now?
Time-on-market depends on pricing and the segment. With the Fraser Valley sitting near a sales-to-active ratio of 11% in May 2026, well-priced homes still sell while overpriced ones linger. Pricing to the recent comparables from day one is the single biggest factor AG. Song manages on a listing.
Explore by Area
Sources & Citations
- Fraser Valley Real Estate Board — monthly statistics package — accessed 2026-06-12
- Greater Vancouver REALTORS® (GVR) — Market Watch monthly reports — accessed 2026-06-24
- BC Government — Property Transfer Tax (first-time buyers' exemption) — accessed 2026-06-24
- Canada.ca — First Home Savings Account (FHSA) — accessed 2026-06-24
- Prohibition on the Purchase of Residential Property by Non-Canadians Act — Justice Laws Canada — accessed 2026-06-24
- BC Financial Services Authority (BCFSA) — consumer information — accessed 2026-06-24
- TransLink — Surrey Langley SkyTrain project — accessed 2026-06-24
Have a Question About Your Own Situation?
General answers only go so far. For recent comparable sales on a specific home or area, AG. Song will pull the numbers and walk you through them — in English, Mandarin, or Cantonese.