Surrey home prices continue to crater

The Fraser Valley remains firmly in a buyer’s market, according to October numbers from the Fraser Valley Real Estate Board – with Surrey sales numbers continuing to crater year over year.

Surrey detached home sales in October plummeted 23.6 per cent from October 2024, 11.5 per cent for townhouses, and 37.5 per cent for condos. Sales in October, did see increases from September.

The Fraser Valley market has an overall sales-to-active listings ratio of 11 per cent in October, up from nine per cent in September. The modest increase reflects a rise in sales alongside a slight decline in inventory.

A balanced market is typically defined by a ratio between 12 and 20 per cent.

Across the Fraser Valley in October, the average number of days to sell both a single-family detached home and a condo was 42 days; while for a townhome it was 37 days.

What about prices?

Single Family Detached: At $1,411,900 the Benchmark price for an FVREB single-family detached home decreased 0.6 per cent compared to September 2025 and decreased 5.1 per cent compared to October 2024.

Townhomes: At $786,000 the Benchmark price for an FVREB townhome decreased 1.2 per cent compared to September 2025 and decreased 5.6 per cent compared to October 2024.

Apartments: At $506,400 the Benchmark price for an FVREB apartment/condo decreased 0.8 per cent compared to September 2025 and decreased 6.8 per cent compared to October 2024.