Latest Real Estate Updates & Open Houses

Quick answer: On June 15, 2026, Township of Langley Council gave final adoption to three linked bylaws — the new Willoughby Community Plan, the Willoughby Transit Corridor Plan, and the Gordon Neighbourhood Plan — consolidating five older neighbourhood plans into one framework built around a future Bus Rapid Transit line on 200 Street. For buyers, this means clearer, transit-focused density rules across roughly half of Willoughby. For current owners and investors, it means real redevelopment potential on the right lot — and a grandfathering window that closes June 15, 2028.

As a Top Realtor in Langley, I've had more calls about this plan in the last two months than almost any other Willoughby topic. Here's what actually changed, where it applies, and what to do next depending on whether you're buying, holding, or investing.

What Changed With Langley's New Willoughby Community Plan

The 2026 update replaces the original 1998 Willoughby Community Plan and folds five separate neighbourhood plans — Carvolth, Latimer, Jericho, Routley, and Southwest Gordon Estate — into a single, consolidated Willoughby Transit Corridor Plan (WTCP). According to the Township of Langley, Council gave third reading and final adoption to Bylaws No. 6201, 6202, and 6203 following a public hearing and a round of community feedback earlier in the spring that led to several amendments before the plan passed.

The biggest practical change for buyers: after feedback during the spring engagement period, Council actually lowered the minimum density in medium-density designations from 8 storeys down to 6 storeys — a meaningful shift from earlier drafts, and one that changes what's realistic on a lot-by-lot basis.

Where the Willoughby Transit Corridor Plan Applies

The plan area covers roughly 50% of the Willoughby community, centred on 200 Street and bounded by 68th Avenue and the Willoughby Trail to the south, 88th Avenue and Highway 1 to the north, and 196th Street to the west. This corridor was chosen because it lines up with the proposed Langley–Haney Place Bus Rapid Transit (BRT) line, which will run five stations through the plan area once built.

If you own — or are considering buying — property inside this boundary, the WTCP is now the governing document, not the older neighbourhood plans it replaced. If your address falls just outside the corridor, standard Willoughby Community Plan policies still apply.

What Buyers Need to Know About Transit-Oriented Density in Willoughby

For a homebuyer, the practical impact depends entirely on where a specific address sits within the corridor:

• Near a future BRT station — expect higher-density, mixed-use development to be encouraged, which typically means more condo and rental supply coming to market over the next decade.

• Medium-density designated areas — the revised 6-storey minimum (down from the original 8-storey proposal) means slightly less intense redevelopment than originally planned, which softened some community pushback.

• Existing single-family lots inside the corridor — these are the properties most likely to see rezoning applications from developers in the coming years.

One detail that matters for anyone mid-transaction: rezoning and development permit applications submitted before June 15, 2026 can still proceed under the old, superseded plans — but only until June 15, 2028. After that, everything falls under the new WTCP rules.

What This Means for Investors in Willoughby, Langley

For investors, a newly adopted, transit-anchored plan is usually a signal worth paying attention to — not because prices move overnight, but because it removes years of planning uncertainty that previously made some Willoughby sites hard to underwrite. A confirmed BRT alignment, a defined density framework, and a two-year grandfathering window together give investors a much clearer runway than the draft-plan uncertainty of the past two years.

That said, "transit-oriented" doesn't mean every lot in the corridor is a redevelopment play. Employment-designated lands near 200 Street and the Trans-Canada Highway remain zoned for business/technology use, not residential density — worth confirming before assuming a property's upside.

Talk to a Top Realtor in Langley Before You Buy in Willoughby

Whether you're weighing a home inside the new transit corridor, sitting on a lot that could see rezoning interest, or scouting an investment near a future BRT station, the details of exactly where your address falls in this plan matter more than the headlines. As a Realtor in Langley, I track these bylaws address by address, not just neighbourhood by neighbourhood.

Ready to talk through your options? Book a buyer or investor consultation, browse current homes for sale in Langley, or get a free home evaluation if you're weighing a sale before the market reacts further to this plan. You can also run your numbers with our free mortgage calculator.

Quick answer: Surrey City Centre is in the middle of the biggest downtown building boom in the Fraser Valley — a proposed 67-storey tower at King George Boulevard and 102nd Avenue, a four-tower, 1,980-home "Civic District" project, and a $600-million arena and entertainment district are all moving through approval right now. Condo prices have actually softened alongside the rest of the region — the Surrey-Central benchmark apartment price sat at $474,100 in July 2026, down 11.3% year-over-year — opening a real window for buyers who want in on BC's fastest-growing downtown before the next wave of towers changes the skyline for good.

As a Surrey Realtor with Macdonald Realty, I get asked constantly whether Surrey City Centre high-rise living is worth it. Here's what's being built, what units are actually selling for, and what to check before you sign anything.

What's Being Built in Surrey City Centre Right Now

Surrey City Centre isn't just growing — it's being reshaped block by block. Local developer Westland Living has proposed a 67-storey mixed-use tower at 10227 King George Boulevard, near Surrey Central Station, that would rank among Metro Vancouver's tallest buildings if approved. A few blocks south, Surrey City Council has given third-reading approval to twin landmark towers at 108th Avenue and King George Boulevard, adding 879 strata condo homes near Gateway SkyTrain Station. And Wesgroup Properties' revised "Civic District" concept calls for four towers between 40 and 51 storeys — roughly 1,980 homes, plus retail, office, and hotel space, on the former Safeway site.

The city is investing in the neighbourhood too: a proposed $600-million arena and cultural event centre anchoring a new entertainment district, and a $130-million Centre Block education campus at City Parkway. Concentrated civic and private investment like this historically pushes long-term demand — and eventually prices — in a downtown core.

Surrey City Centre Condo Prices: What the Numbers Actually Show

Despite all that construction activity, City Centre condo prices are currently softer, not higher — which matters for anyone timing a purchase.

Condos are seeing the steepest price adjustments of any property type in the Fraser Valley, largely because of the volume of new high-rise supply moving through presale and completion. For a buyer priced out of City Centre a few years ago, that's a real opening — but it also means not every project is worth the same price per square foot, and comparing resale against current presale pricing takes local knowledge, not a national estimator.

Who Should Actually Consider Surrey City Centre Highrise Living

• Commuters — Surrey Central and Gateway SkyTrain stations put Vancouver and Burnaby within a direct Expo Line ride, no car needed.

• Investors — thousands of units in the approval pipeline plus steady demand from SFU Surrey students keep City Centre one of the most liquid rental markets in the Fraser Valley.

• Downsizers — one-level living and walkable access to Central City Mall and Holland Park appeal to buyers leaving larger Surrey or Cloverdale homes.

• First-time buyers — softer condo pricing is a real entry point, provided strata financials and rental restrictions are reviewed first.

What to Check Before You Buy a Surrey City Centre Condo

1. Strata fees and the reserve fund study — always compare the actual budget, not just a listing's stated monthly fee, since amenity costs vary a lot between older and newer towers.

2. Rental caps and short-term rental rules — investors need to confirm a building's bylaws before assuming a unit can be rented out freely.

3. Presale completion risk — with this many towers under construction at once, a realistic timeline matters more than the marketing brochure's date.

4. Construction exposure — a unit facing a quiet lot today may face an active site

Thinking About Buying or Investing in Surrey City Centre?

High-rise living in Surrey's downtown core isn't one-size-fits-all — the right building depends on your budget, your timeline, and whether you're buying to live in or to rent out. As a Surrey Realtor with over 18 years in this market, I can walk you through which towers are worth a look right now and which ones to wait on.

Ready to explore Surrey City Centre condos? Browse current Surrey listings or book a buyer consultation with Jas Kandola.

Curious what your current home could sell for if you're planning to move downtown? Get a free home evaluation.

Want to run the numbers on a specific unit first? Try the free mortgage calculator.

Looking for a Surrey Realtor who tracks every tower in the City Centre pipeline? Contact Jas Kandola today.

Why are buyers choosing Delta, BC? Three reasons come up again and again: it's meaningfully more affordable than Vancouver, Richmond, or White Rock for a comparable home; it offers a waterfront, small-town lifestyle across three distinct communities — Ladner, Tsawwassen, and North Delta — without giving up easy access to the rest of Metro Vancouver; and current market conditions are giving buyers more room to negotiate than they've had in years.

I work with buyers across the Fraser Valley, and Delta comes up constantly from people who assumed they couldn't afford to buy anywhere near the water. Here's a closer look at what's actually drawing them here, backed by the latest local numbers.

1. It's More Affordable Than Its Neighbours — And Getting More So

Delta sits between two of the region's priciest markets — Richmond to the north and White Rock/South Surrey to the east — but consistently prices below both. As of July 2026, the benchmark price for a detached home in North Delta was $1,213,000, down close to 2% from June and roughly 9% from a year earlier. Townhomes in North Delta benchmarked at $848,900, down 8.5% year-over-year. That gap compounds fast: a buyer priced out of a comparable detached home in Richmond or South Surrey can often find real options in Delta with tens of thousands of dollars of breathing room.

It's not just the sticker price, either. Property tax mill rates, insurance costs, and even day-to-day parking and amenity fees tend to run lower in Delta than in denser Richmond condo towers or newer South Surrey developments — the kind of ongoing cost difference that doesn't show up in a listing price but shows up every month on a mortgage statement.

2. Three Communities, Three Very Different Vibes

"Delta" isn't one market — it's three, and that's actually part of the appeal. North Delta is the city's most populous area and the most connected to Surrey, with a mix of established detached homes and newer townhome developments. Ladner, the historic administrative centre, has a walkable small-town core, heritage character, and family-friendly pockets like Ladner Elementary and Hawthorne. Tsawwassen is Delta's waterfront community — home to Boundary Bay and Centennial Beach, the BC Ferries terminal, and generally the highest price points in the city. Buyers who assume "Delta" means one type of home are usually surprised by how differently these three areas actually live.

3. A Genuine Small-Town, Waterfront Lifestyle

Delta still carries a semi-rural, small-town character that's increasingly rare this close to Vancouver — a legacy of the Agricultural Land Reserve farmland that borders much of North Delta and Ladner. Add Boundary Bay's beaches, Ladner's working harbour, and a slower pace than Surrey or Richmond, and it's easy to see why buyers who grew up wanting acreage-adjacent living, but need to stay commutable, land on Delta specifically.

This isn't a small thing for the kind of buyer who's been shopping Surrey or Langley and feeling like every new listing is another townhouse squeezed onto a shrinking lot. Delta's lower density, working farmland, and protected shoreline mean the "room to breathe" feeling doesn't disappear the moment you leave the property line — it's baked into the whole community.

4. Better Regional Access Is Coming

The historic George Massey Tunnel bottleneck — the single biggest complaint about commuting out of Delta for decades — is finally being addressed. The province's Fraser River Tunnel Project will replace the aging four-lane crossing with a new toll-free, eight-lane immersed-tube tunnel connecting Delta and Richmond. As of mid-2026, the project is in a revised procurement phase, with early construction activity and utility relocation already underway and major tunneling work targeted to begin in 2027. It's a multi-year build, but it's real, funded, and moving — and buyers thinking 5-10 years out are increasingly factoring it into their decision.

5. Quick Access to the Airport, the Ferries, and the Border

Delta's geography does a lot of work that other Fraser Valley communities can't match. Vancouver International Airport (YVR) is roughly a 15-20 minute drive from most of Delta. The Tsawwassen BC Ferries terminal puts Vancouver Island and the Gulf Islands within easy reach for weekend trips. And the Peace Arch/Pacific Highway border crossings into Washington State are close enough that cross-border commuters and frequent US travellers specifically target Delta for that reason alone.

6. A Buyer's Market Is Giving Buyers Real Leverage Right Now

Region-wide, the Fraser Valley Real Estate Board's composite benchmark price was down 0.8% month-over-month and 7% year-over-year in July 2026, with sales down 5% from June and buyer urgency, the board's own chair noted, "notably absent" for months. That softness is showing up directly in Delta's numbers too — North Delta saw new listings drop nearly 32% month-over-month in July, and homes across the Fraser Valley are taking an average of 40 days to sell for detached properties and townhomes. For buyers, that combination — softer prices, less competition, more time to decide — is a real, current reason to look at Delta specifically right now rather than wait.

7. Room to Grow Into Different Property Types Without Leaving

Because Delta spans three communities and a genuine mix of detached homes, townhomes, and newer condo developments (particularly around Tsawwassen), it's realistic to buy a starter townhome in North Delta today and move up to a detached home in Ladner or Tsawwassen later — all without leaving the school district, the community, or the commute you've already built your life around. That kind of long-term flexibility inside one municipality is harder to find in more single-density markets.

Is Delta, BC Right for You?

If waterfront access, small-town character, and genuine affordability relative to Richmond or White Rock matter to you — and you don't want to give up a reasonable commute into the rest of Metro Vancouver — Delta is worth a serious look, especially in current market conditions. The right community for you inside Delta depends heavily on your budget, commute, and lifestyle priorities, which is exactly where local guidance pays off.

Thinking About Making the Move to Delta?

Whether you're drawn to Ladner's walkable heritage core, Tsawwassen's waterfront, or North Delta's connectivity to Surrey, the right fit depends on details a listing page can't tell you.

As a Delta REALTOR®, Jas Kandola can help you compare neighbourhoods, property types, pricing, and current opportunities across Delta based on your budget and lifestyle.

Ready to explore Delta real estate?

Book a Buyer Consultation with Jas Kandola

Browse Current Delta Homes for Sale

Looking for a Real Estate Agent in Delta who knows the local market? Contact Jas Kandola to start your home search.

Frequently Asked Questions

Quick answer: Moving to Langley BC in 2026 means trading Vancouver-level prices for more space: the benchmark detached home is $1,494,800, and total monthly living costs for a single renter run around $3,917, including roughly $1,780 in rent, $579 in groceries, and $170 in utilities. Property taxes on an average $1.5 million home are about $2,827 a year following Langley Township's 3.97% 2026 increase. The Surrey-Langley SkyTrain extension, targeting a 2028 opening, is already reshaping commute times and long-term value across Willoughby, Walnut Grove, Brookswood, Murrayville, and Fort Langley. 

Langley pulls a steady stream of Metro Vancouver buyers every year for the same reason: more home for the money, without giving up highway access to the city. But "more affordable" is relative, and the neighbourhood you land in changes the math significantly. Here's what moving to Langley BC actually costs in 2026, and what to know before you buy.

Langley BC at a Glance

Langley is actually two separate municipalities that share a name: the Township of Langley, a large suburban area stretching from Walnut Grove to Aldergrove, and Langley City, a small, walkable urban core at its centre. Most single-family housing stock sits in the Township, while Langley City carries a higher concentration of condos and rental apartments. Both fall within the Fraser Valley and sit roughly 45 minutes from downtown Vancouver by car outside peak hours, longer during rush hour on Highway 1 or the Fraser Highway.

Cost of Living in Langley BC (2026)

Langley Real Estate Market: 2026 Benchmark Prices

Property Taxes and Ongoing Ownership Costs

Langley Township council approved a 3.97% property tax increase for 2026 as part of its five-year financial plan. On an average $1.5 million home, that works out to roughly $2,827 in annual property tax, an increase of about $108 over last year. Langley City sets its own separate rate and approved a smaller increase for 2026, so confirm which municipality a specific address falls under, Township or City, before budgeting, since the two have different tax rates and service levels.

Langley's Neighbourhoods: Which One Fits You

Willoughby (Willoughby Heights)

Langley's newest and fastest-growing area, with modern townhouses, new schools, walkable town centres, and master-planned parks. It's the top pick for young families who want new construction and don't mind paying a premium for it.

Walnut Grove

A mature, leafy suburban area built out mostly in the 1980s and 90s, with larger lots than Willoughby and direct access to Highway 1. Strong, established schools make it a favourite for families who prioritize commute time and school catchment over new construction.

Brookswood

A rural-urban mix known for tall trees and quarter-acre lots, offering privacy and space for a garden, workshop, or secondary suite. Redevelopment is starting to reshape parts of Brookswood, so lot sizes and character vary block to block.

Murrayville

A smaller, traditional community with a mix of established homes on bigger lots. It offers a quieter, small-town feel while still sitting close to Langley City's amenities.

Fort Langley

The historic heart of the region: heritage homes, boutique shops, and a riverside setting. It carries a lifestyle premium and suits buyers prioritizing character and walkability over square footage per dollar.

Commute & the Surrey-Langley SkyTrain

The Surrey-Langley SkyTrain extension is a 16-kilometre elevated addition to the Expo Line, running along Fraser Highway from King George Station to Langley City Centre, with all eight new stations and three bus exchanges included in a single construction phase. The $3.94 billion project is currently on track and ahead of its original schedule, with a 2028 opening now targeted, two years earlier than first projected. For Langley buyers, that timeline matters: homes closer to confirmed station locations are already trading at a premium over comparable properties farther away, a pattern seen consistently as SkyTrain extensions near completion elsewhere in Metro Vancouver.

Is Langley BC a Good Place to Live?

For most relocating buyers, yes, particularly families and anyone commuting by car rather than transit today. Langley offers larger lots and newer housing stock than comparable Surrey or Vancouver neighbourhoods at a lower price point, strong schools in Walnut Grove and Willoughby, and a lifestyle draw in Fort Langley that's hard to find elsewhere in the Fraser Valley. The trade-off is commute time until the SkyTrain extension opens in 2028; if you work downtown and rely on transit today, budget 60-75 minutes each way via bus and SkyTrain transfer.

Before You Buy: A Moving-to-Langley Checklist

• Confirm whether an address falls under Langley Township or Langley City; tax rates, bylaws, and services differ.

• Check proximity to a confirmed Surrey-Langley SkyTrain station if long-term value and future transit access matter to you.

• Compare school catchments directly with the Langley School District, since they can split within a neighbourhood.

• Budget property tax and utilities on top of your mortgage; a $1.5M home carries roughly $2,827/year in municipal tax alone.

• Tour Willoughby, Walnut Grove, and Brookswood in the same trip; the differences in lot size and community feel are easier to judge side by side.

Not sure which Langley neighbourhood fits your budget? Schedule a buyer consultation with Jas Kandola

Frequently Asked Questions

Work With a Top Realtor in Langley

Moving across the region is a lot easier with someone who already knows the differences between Willoughby's new-construction pricing and Walnut Grove's school catchments. As a top Realtor in Langley and the wider Fraser Valley, Jas Kandola can walk you through current listings, realistic timelines around the SkyTrain extension, and what your budget actually buys in each neighbourhood- no pressure, no guesswork.

Ready to start your search? Contact Jas Kandola today.

Find out what your current home is worth: Book a free home evaluation. View current Langley homes for sale

How do I find out what my home is worth in Surrey? The most accurate way is a professional home evaluation that compares your property to homes that have actually sold nearby in the last few months — not an automated online estimate. As a Medallion Club REALTOR® with Macdonald Realty and over 18 years working the Surrey market, I offer this as a free, no-obligation service, and it usually takes less than a week from request to a number you can trust.

If you've typed "what's my house worth" into Google recently, you've probably landed on an instant online estimate. Here's the problem: those tools are built for national scale, not for a market as block-by-block specific as Surrey's. Below, I'll walk through why that matters, what Surrey homes are actually selling for right now, and exactly how a real evaluation works.

Why Online Home Value Estimators Get Surrey Wrong

Automated valuation models (AVMs) — the kind behind most "instant estimate" tools — work from public assessment data and broad neighbourhood averages. They don't know that your street backs onto a park, that your kitchen was renovated last year, or that the three-bedroom townhouse two doors down sold $40,000 under asking because it needed a new roof. In a city as varied as Surrey — where Cloverdale, Fleetwood, Guildford, and North Surrey can have meaningfully different price trends in the same month — that gap adds up fast.

A professional evaluation starts from the same benchmark data the Fraser Valley Real Estate Board (FVREB) uses, then adjusts for the details an algorithm can't see: condition, lot size and orientation, recent comparable sales on your specific street, and current buyer demand in your specific sub-area. That's the difference between a rough guess and a number you can actually list at — or negotiate from with confidence.

What Surrey Homes Are Actually Worth Right Now (July 2026)

Fraser Valley home prices kept softening through July 2026. Region-wide, the FVREB's composite benchmark price landed at $877,600, down 0.8% from June and 7% from a year earlier. Buyer urgency has been largely absent for months, which is giving buyers more room to negotiate and take their time — and it's part of why an accurate, current valuation matters more than usual right now.

Here's how that plays out across Surrey specifically, based on the FVREB's July 2026 report:

Surrey-wide, detached home prices are down roughly 9.1% year-over-year, total sales fell 11.3% from June and 8% from last July, and new listings dropped 13.2% month-over-month. Homes are also taking longer to sell: across the Fraser Valley, the average was 40 days for detached homes and townhomes, and 46 days for condos, in July.

What that means in plain terms: if the number in your head is based on what your neighbour's house sold for two years ago — or even six months ago — it's very likely out of date. Prices have moved enough, and quickly enough, that last year's estimate isn't a safe starting point for a listing price or a refinancing conversation today.

How a Professional Home Evaluation Works

A proper evaluation isn't a drive-by guess. Here's the process I use:

1. A quick property walkthrough or video call — condition, upgrades, layout, and anything that affects value (a finished basement, a newer roof, an unpermitted addition).

2. A comparable sales pull — recent closed sales within your specific area, adjusted for property type, size, and condition, not just a city-wide average.

3. A benchmark-price cross-check — comparing your home against the current FVREB benchmark for your area and property type, the same data source used above.

4. A written summary with a recommended value range — not a single number pulled from thin air, but a range with the reasoning behind it, so you understand exactly how we got there.

The whole process is free and comes with zero obligation to list — plenty of homeowners request one just to understand their equity position or plan for a future move.

What Actually Moves Your Number Beyond the Benchmark Price

The FVREB benchmark is a great starting point, but two homes on the same block can be worth meaningfully different amounts. The things that move the number most:

• Condition and updates — a renovated kitchen or bathroom, a newer roof or furnace, and general move-in readiness

• Lot specifics — size, shape, orientation, and whether it backs onto a busy street or a green space

• Recent comparable sales on your actual street, not just your postal code — this is exactly what our What Your Neighbour Sold For tool is built to show you

• Current buyer demand in your specific Surrey sub-area — Cloverdale, Fleetwood, and North Surrey aren't moving at the same pace right now, even though they're all technically "Surrey"

When Is the Right Time to Get an Evaluation?

You don't need to be planning to sell next month to want an accurate number. Homeowners typically request one when they're:

• Thinking about selling in the next 6–12 months and want to plan timing

• Refinancing or renewing a mortgage and need a current value

• Curious about their equity position after a few years of ownership

• Weighing whether now — a buyer's market with softer prices but less competition among sellers — is the right window, or whether waiting makes more sense

If you're actively planning a sale, it's worth reading our guide on selling your home in Surrey alongside your evaluation, since pricing strategy and market timing go hand in hand in conditions like these.

One thing worth saying plainly: in a market where homes are taking 40+ days to sell, and buyers have plenty of choice, an inflated valuation doesn't just fail to sell for more — it can actively cost you money. A home priced above where the current comparables support it tends to sit, and days-on-market itself becomes a red flag that invites lowball offers. An accurate evaluation up front, grounded in what's actually closing right now rather than what closed a year ago, is usually the single biggest lever a seller has over their final sale price.

Free Home Evaluation FAQ

Ready to Find Out What Your Home Is Worth?

Whether you're planning to sell this year or simply want to understand your home's current market value, a free home evaluation can give you the clarity you need. Contact Jas Kandola, Surrey Realtor, for a free home evaluation and expert insight into how your property compares with homes currently selling in your neighbourhood.

Fraser Valley home prices kept falling in July while the Bank of Canada held interest rates steady for a sixth straight decision — a combination that's opening real windows of opportunity for buyers in Surrey, Langley, Cloverdale, and Delta, even as sellers face a market that rewards realistic pricing over wishful thinking. Here's what the newest data actually shows, and what it means if you're planning to buy or sell in the Fraser Valley this fall.

As a Medallion Club REALTOR® with Macdonald Realty who has worked the Surrey market for over 18 years, I track this data every month so my clients aren't guessing. Below is a plain-English breakdown of the July 2026 numbers from the Fraser Valley Real Estate Board (FVREB), what the Bank of Canada's latest rate decision means for your mortgage, and how to position yourself whether you're buying your first home or listing your current one.

The Numbers: Fraser Valley Housing Market in July 2026

The Fraser Valley Real Estate Board recorded 1,089 sales in July 2026 — down 5% from June and 9% below July 2025. New listings also pulled back sharply, with 2,836 homes newly listed, a 14% drop from June and 18% fewer than the same month last year.

• Active listings: 10,044 homes on the market — 32% above the 10-year seasonal average, even after a slight pullback from June. • Sales-to-active ratio: 11%, keeping the Fraser Valley firmly in buyer's-market territory (a balanced market sits between 12% and 20%).

• Average days to sell: 40 days for a detached home or townhome, 46 days for a condo. “Buyer urgency has been notably absent from the Fraser Valley market for some time now,” said FVREB Chair Ishaq Ismail. “With inventory remaining high and competition subdued, buyers know they don't have to rush.

“Buyer urgency has been notably absent from the Fraser Valley market for some time now,” said FVREB Chair Ishaq Ismail. “With inventory remaining high and competition subdued, buyers know they don't have to rush.”

Home Prices Across Surrey and the Fraser Valley

The composite Benchmark price for a typical Fraser Valley home sat at $877,600 in July — down 0.8% from June and 7% lower than a year ago. Here's how that breaks down by property type:

• Single-family detached: $1,335,200 (−1.1% month-over-month, −8.3% year-over-year)

• Townhomes: $757,300 (−0.9% month-over-month, −7.1% year-over-year)

• Condos/apartments: $469,500 (−1.4% month-over-month, −9.1% year-over-year)

  Condos and apartments continue to see the steepest price adjustments, which is opening the door for first-time buyers and investors who were priced out of the Surrey condo market a few years ago. Detached homes are also more affordable than they've been in years, but they're holding their value better relative to their 2022 peak than the attached-home segment

Bank of Canada Holds Rates Again — What It Means for Your Mortgage

On July 15, 2026, the Bank of Canada held its overnight rate at 2.25% for the sixth consecutive decision, with the prime rate remaining at 4.45%. The Bank cited an improving but still uncertain economy — unemployment sat at 6.5% in June, and inflation was running at 3.2% in May, largely due to higher gas prices linked to the conflict in the Middle East.

For Surrey buyers, this means mortgage rates are likely to stay roughly where they are through the rest of the summer. The next scheduled rate announcement is September 2, 2026, with additional decisions on October 28 and December 9. If you're pre-approved or shopping for financing, this is a good time to lock in terms rather than waiting for a rate drop that most economists don't expect until 2027.

Run your numbers with my free mortgage calculator to see what today's rates mean for your monthly payment.

What This Means If You're Buying in Surrey

If you've been waiting on the sidelines, the current data suggests conditions are as buyer-friendly as they've been in over a decade:

• More than 10,000 active listings across the Fraser Valley means real selection — in North Surrey, Cloverdale, Fleetwood, and Guildford alike.

• A sales-to-active ratio of 11% gives buyers real negotiating room on price, closing dates, and subject removal.

• Condo and townhome prices are down roughly 7-9% year-over-year, which is a meaningful entry point for first-time buyers.

• Stable interest rates mean you can budget with more confidence than you could a year ago.

Not sure where to start? Browse current Surrey listings or book a buyer consultation as a Surrey Realtor; I'll walk you through financing, neighbourhoods, and timing.

What This Means If You're Selling in Surrey

Selling in a buyer's market isn't a losing proposition — it just requires a different strategy than the multiple-offer years of 2021 and 2022:

• Price to today's Benchmark data, not last year's comparable sales. Overpricing in this market means sitting for 40+ days, which itself signals to buyers that something's off.

• Presentation matters more when buyers have 10,000+ options to compare against yours.

• With new listings down 14-18% month-over-month, sellers who list now face less direct competition than they will once more inventory returns in the fall.

Curious what your home is worth in today's market? Get a free home evaluation or see what your neighbour's home sold for.

Surrey Real Estate Outlook for the Rest of 2026

Most Fraser Valley economists expect prices to stay roughly stable through the remainder of 2026, with the market remaining balanced-to-buyer-friendly as long as inventory stays elevated and the Bank of Canada holds its current rate. Watch for the Build Canada Homes and BC Housing supply agreement — details are still being worked out, but it could add new housing stock and shift affordability further over the next 12-18 months. For ongoing updates, check my monthly market reports or subscribe to the blog.

Thinking about buying or selling in Surrey, Langley, Cloverdale, or Delta? Contact me for a no-obligation consultation, or call 778-680-4533.