Latest Real Estate Updates & Open Houses

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.

By Jas Kandola, Medallion Club REALTOR® with Macdonald Realty | Last updated July 14, 2026

As of June 2026, the Fraser Valley benchmark price is $884,800 — down 7.1% year-over-year and 0.9% month-over-month, and now 26% below the 2022 peak. That single number blends three very different markets: detached houses, townhomes, and apartments, each moving at its own pace last month. Here's the $884,800 figure broken down by property type and city, with what it actually means if you're buying or selling.

What a "Benchmark Price" Actually Measures

A benchmark price isn't a simple average of what sold — it's the Home Price Index (HPI) value of a "typical" home with consistent features in a given area, which makes it more stable and comparable month-to-month than a raw average that can swing based on which homes happened to sell. When the Fraser Valley Real Estate Board (FVREB) reports $884,800, that's the price of a representative home across all property types region-wide — not any specific house.

The $884,800 Benchmark, Broken Down by Property Type

Apartments are seeing the steepest year-over-year decline of the three property types — a pattern showing up across the Fraser Valley, not just in one city. Detached homes remain the largest driver of the blended $884,800 figure simply because of their higher price point.

How Long Homes Are Sitting on the Market

• Detached: 37 days on the market on average.

• Townhome: 33 days on market on average.

• Condo/apartment: 38 days on the market on average.

• Active listings: 10,377 region-wide (+2.3% month-over-month, -4.3% year-over-year).

• June 2026 sales: 1,147 (+2% month-over-month, -4% year-over-year). More listings plus roughly a month to sell points to a market with real negotiating room for buyers — a meaningful shift from the multiple-offer conditions of a few years ago.

More listings plus roughly a month to sell points to a market with real negotiating room for buyers — a meaningful shift from the multiple-offer conditions of a few years ago.

Note on methodology: Surrey's figure here is a simple average price (not the HPI benchmark), so it isn't a like-for-like comparison with the Fraser Valley and Langley benchmark figures above — but it's useful context for the price range buyers are seeing. For a full breakdown of Langley pricing by property type, see our Langley market guide.

What's Driving the Pullback in 2026

"The Fraser Valley spring market has under-performed expectations despite improving affordability and more choice for buyers," said Ishaq Ismail, chair of the FVREB. "Opportunities are clearly there. The question is whether qualified buyers on the sidelines recognize the value available today."

Rising inventory (10,377 active listings), softer prices across every property type, and buyers who remain cautious despite improved affordability are the three forces behind the current $884,800 benchmark. Fraser Valley home prices are now close to flat over the last o five years, though still well above levels from a decade ago.

What This Means If You're Buying

More inventory, longer average days on market, and prices down across every property type add up to real negotiating leverage that wasn't available during the 2021-2022 peak. If you're weighing whether to buy now or wait, the honest answer depends on your specific budget, timeline, and target area — explore the buying process to see how Jas can help you find and negotiate the right property.

What This Means If You're Selling

A softer market doesn't mean homes aren't selling — 1,147 sales closed in June alone, up 2% from May. It means pricing accuracy and presentation matter more than they did in a seller's market. Start with a free home evaluation to see where your property fits against current benchmark data before you list.

Frequently Asked Questions

The Bottom Line

$884,800 is the headline, but the real story is in the breakdown: detached, townhome, and apartment prices are all falling at different rates, inventory is rising, and homes are taking about a month to sell. Whether that favours you as a buyer or seller depends on the property type and area you're focused on — Jas Kandola, as a Real Estate Agent In Surrey, tracks these numbers month by month across Surrey, Langley, Delta, and Cloverdale to help you time your move around real data, not headlines.

Sources: Fraser Valley Real Estate Board (FVREB) June 2026 Monthly Market Report (fvreb.bc.ca); Daily Hive, "Metro Vancouver / Fraser Valley home sales statistics, June 2026"; CREA statistics (creastats.crea.ca/board/fras); Langley Advance Times, "Prices continue decline but buyers scarce for Langley homes," July 3, 2026; WOWA.ca Surrey housing market data

By Jas Kandola, Medallion Club REALTOR® with Macdonald Realty | Last updated July 10, 2026

Search “best realtor in Surrey,” and you'll get dozens of names. The ones worth trusting share three things: verified local expertise, a track record you can check, and clients willing to put their name behind a review. Jas Kandola is a Medallion Club REALTOR® with Macdonald Realty, ranked in the top 10% of Fraser Valley agents for 18+ consecutive years, with a client history of smooth, well-negotiated sales across Surrey, Langley, Delta, and Cloverdale.

What Actually Makes a Realtor “The Best” in Surrey

“Best” shouldn't be a marketing adjective — it should be a checklist you can verify. Here's the criteria that matter, and how Jas Kandola measures up on each one.

• Local market expertise: years of transactions specifically in Surrey and the surrounding Fraser Valley, not a generic service-area claim.

• Verified awards and standing: recognized industry credentials, not self-reported “top agent” claims.

• Client results and reviews: a public record of testimonials and third-party ratings that anyone can check.

• Data-driven pricing strategy: pricing and negotiation backed by current MLS® board data, not guesswork.

• Communication and availability: responsiveness and transparency throughout the transaction, not just at signing.

How Jas Kandola Meets Each Criterion

Real Client Results, Not Just Claims

Anyone can call themselves the best realtor in Surrey. What separates a claim from a track record is what past clients say after closing:

• “Jas's professionalism, clear communication, and deep market knowledge made everything feel seamless … At the end of your journey with Jas, you'll realize he's not just your realtor; he's become part of your family.” — Prasad Family

• “Jas took the time to understand my preferences and needs, guiding me to the ideal condo in a challenging market … If you're looking for a realtor who is not only skilled and hardworking but also deeply committed to your success, I wholeheartedly recommend Jas.” — Joshi Family

• “Jas is open and honest and fully discloses information to you … He doesn't sugarcoat things or speak realtor jargon … Jas will work hard to get you the best price, and he isn't afraid to push back or push for more.” — Graves Family

Areas Served

Jas works across the Fraser Valley, with concentrated expertise in four communities:

• Surrey — home base and the market Jas tracks most closely, block by block.

• Langley — including the Fraser Highway / SkyTrain corridor.

• Delta — Ladner, Tsawwassen, and North Delta.

• Cloverdale — including the Clayton neighbourhood.

Frequently Asked Questions

1. Who is the best realtor in Surrey?

   The best realtor in Surrey is one whose expertise, awards, and client results can all be independently verified. Jas Kandola is a Medallion Club REALTOR® with Macdonald Realty, ranked in the top 10% of Fraser Valley agents for 18+ consecutive years, with a public track record of client testimonials and a Rate My Agent Top Rated badge.

2. What awards has Jas Kandola won?

   Jas is a Medallion Club Member for 2024 and 2025, placing him among the top 10% of REALTORS® in the Fraser Valley. In his first year in the industry, he won Macdonald Realty's Rookie of the Year Award.

3. How many years of experience does Jas Kandola have?

   Jas has over 18 years of experience in sales, with a focus on residential real estate across Surrey, Langley, Delta, and Cloverdale.

4. What areas does Jas Kandola serve?

   Jas primarily serves Surrey, Langley, Delta, and Cloverdale, with experience across the broader Fraser Valley real estate market.

5. How do I contact Jas Kandola for a free consultation?

   Call or text 778-680-4533, email info@jaskandola.ca, or request a free home evaluation directly on jaskandola.ca.

Sources: jaskandola.ca/about.html; jaskandola.ca/testimonials.html; Rate-My-Agent.com Jas Kandola profile; Macdonald Realty Medallion Club records (2024–2026); Fraser Valley Real Estate Board (FVREB) June 2026 Monthly Market Report.