Surrey Real Estate Market: Where Prices Are Moving by Town Centre

Surrey is not one housing market. In August 2026 the Fraser Valley Real Estate Board split the city into four MLS Home Price Index areas, and those four lines moved at different speeds.

The Surrey HPI area composite sat at $912,700, down 0.4% from July and 7.6% from August 2025. North Surrey, the cheapest official slice, sat at $640,800. Cloverdale sat at $930,900. South Surrey and White Rock sat at $1,010,000.

That gap is the whole story for first-time buyers in Surrey. A City Centre condo and a Semiahmoo detached home do not share a price path, a days-on-market clock, or a negotiating script.

The official source for the monthly numbers below is the Fraser Valley Real Estate Board August 2026 statistics package, released September 2, 2026. Town-centre colour comes from how those HPI areas map onto the city's six town centres: City Centre, Guildford, Fleetwood, Newton, Cloverdale, and Semiahmoo in South Surrey.

How Surrey Town Centres Map to Board Price Data

The City of Surrey plans around six town centres. The board does not publish a separate benchmark for each one. Use this crosswalk so you do not mix a Guildford townhouse with a Whalley tower average.

The composite is a blend of detached homes, townhouses, and apartments. North Surrey looks cheap because apartments dominate the mix. South Surrey looks expensive because detached homes dominate the mix. Always read the property-type line for the home you will actually buy.

August 2026 Surrey Snapshot

Inside the City of Surrey combined file, which covers North Surrey, Central Surrey, Cloverdale, and South Surrey but excludes White Rock, August produced 152 detached sales, 124 townhouse sales, and 107 apartment sales. That is 383 closed deals.

Detached sales rose 10.1% from August 2025. Apartment sales fell 14.4%. Townhouses were almost flat, up 0.8%. The city sold more houses than last summer and fewer condos.

Across the wider Fraser Valley board, August printed 941 sales, a 10% sales-to-active ratio, and 9,787 active listings. That ratio is below the board's 12% to 20% balanced band, so the region is a buyer's market. Surrey town centres still split around that average.

Cloverdale has given back the least over three years. City Centre and South Surrey have given back the most, for opposite reasons: condo supply in the north, luxury detached reset in the south.

Where Prices Sit by Home Type

The MLS Home Price Index benchmark is the price of a typical home of that type. It is not the average sale price. Averages swing when one Morgan Creek estate and one compact City Centre studio close in the same month.

Detached homes

South Surrey and White Rock still sit in a different league. The detached benchmark was $1,649,200 in August, up 0.1% from July and down 7.5% from a year earlier. That was the only major Surrey detached line that did not fall month over month.

Cloverdale detached sat at $1,339,700, down 1.1% from July and 6.3% year over year. Surrey Central detached, the Newton and Fleetwood house number, sat at $1,322,800, down 0.2% from July and 8.8% year over year. North Surrey detached sat at $1,262,400, down 11.5% year over year.

The three-year detached reset is 11.9% in Cloverdale, 15.5% in North Surrey, 15.8% in Surrey Central, and 16.6% in South Surrey and White Rock. House shoppers have more room than the monthly headlines show.

Townhouses

Townhouses remain the first-time buyer workhorse outside City Centre. Surrey Central townhouses sat at $748,000, down 0.7% from July and 5.9% from August 2025. That is the smallest one-year cut of any major Surrey housing type.

Cloverdale townhouses sat at $757,200, down 6.4% year over year. North Surrey townhouses sat at $681,400, down 10.5%. South Surrey and White Rock townhouses sat at $820,300, down 11.1%, the steepest townhouse correction in the city.

Board-wide, townhouses sold in 37 days in August versus 45 days for detached homes and condos. Family-sized row homes still clear faster than towers or large lots.

Apartments and condos

Condos are where Surrey's price reset is loudest. North Surrey apartments sat at $401,400, down 1.7% from July and 10.0% year over year. Surrey Central apartments sat at $462,800, down 2.4% from July and 11.2% year over year.

Cloverdale apartments sat at $505,700, almost unchanged from July and still 11.3% below August 2025. South Surrey and White Rock apartments sat at $550,800, up 0.7% from July and down 6.2% year over year.

Over three years, North Surrey apartments are down 19.8% and Surrey Central apartments are down 18.5%. That is the inventory first-time buyers can actually reach after the mortgage stress test.

City Centre and Whalley: Condo Gravity

City Centre is Surrey's downtown. SkyTrain, City Hall, SFU Surrey, KPU, and the King George corridor sit here. The board files this stock inside North Surrey.

That is why the North Surrey composite is $640,800 while a typical North Surrey house is still $1,262,400. August apartment sales in North Surrey were 53, against 161 new listings and 699 active condo listings. Towers, not houses, set the local temperature.

The median North Surrey apartment sale was $395,000. The average sale was $419,814. Both sit close to the $401,400 benchmark, which means the index is describing the deals buyers are actually closing, not a theoretical tower premium.

If you are buying the first home you can qualify for, start with homes for sale in Surrey inside City Centre and compare carrying costs against a Guildford or Newton townhouse before you stretch.

Guildford: Two Markets Sharing One Name

Guildford Town Centre mall, Green Timbers, and the 104 Avenue grid sit on one side of this community. Fraser Heights sits on the other. Those two products do not price the same.

Mall-area condos and older townhomes behave like North Surrey. Fraser Heights detached homes behave like a South Surrey cousin: larger lots, school-driven demand, and a much higher ticket. Mixing those into one "Guildford average" hides both stories.

Late-September MLS neighbourhood snapshots put Guildford's blended 30-day average sold price near $560,000 because condo volume dominates the count. That number is useful as a warning, not as a budget for a Fraser Heights house.

Buyers who want amenities and a shorter commute should shop the mall grid and read the North Surrey apartment and townhouse lines. Buyers who want a house in this part of the city should pull Fraser Heights solds, not the Guildford average.

Fleetwood: The SkyTrain Town Centre

Fleetwood is the town centre sitting on the Surrey-Langley SkyTrain extension. Fraser Highway, Fleetwood Park, and the future station locations are the local landmarks. The board files most of this stock in the Surrey Central HPI area.

Surrey Central detached at $1,322,800 and townhouses at $748,000 are the official August markers. Townhouses here have lost less than almost any other Surrey product, down 5.9% year over year.

That relative strength is the SkyTrain bid showing up in the data. It does not mean every listing near a future station sells in a weekend. Board-wide days on market still ran more than a month in August.

Families who can stretch to a three-bedroom townhouse should treat Fleetwood as the middle path: more space than City Centre, less of a premium than South Surrey, and a transit story that Newton does not fully share.

Newton: Size, Value, and Slower Condos

Newton is Surrey's most populous town centre. King George Boulevard, Scott Road, Strawberry Hill, and the East and West Newton grids make it a city inside the city. It also files into Surrey Central.

Use the same $1,322,800 detached and $748,000 townhouse benchmarks, then look at local pace. Late-September snapshots showed East Newton absorbing about 2.8% of active listings over 30 days and West Newton about 3.6%. That is a buyer's market inside a buyer's market.

Surrey Central apartment sales collapsed in August to nine deals, down 57.1% from August 2025. New listings still arrived. If you are hunting a Newton condo, selection is wide and urgency is low.

Newton remains the value play for buyers who want a yard or a suite-ready house without paying Cloverdale's small-town premium or South Surrey's Semiahmoo premium.

Cloverdale: The Steadiest Official Line

Cloverdale is the town centre with its own HPI row, which makes it the cleanest local read in the city. The August composite was $930,900, down 1.0% from July and 6.0% from a year earlier. Over three years it is down 12.3%, the smallest long reset of the four Surrey HPI areas.

Detached homes sat at $1,339,700. Townhouses sat at $757,200. Apartments sat at $505,700. August produced 33 detached sales, up 65.0% from only 20 sales a year earlier. House demand showed up here even as the wider city cooled.

Active inventory was tighter than the north end: 201 detached, 142 townhouses, and 58 apartments. That is why Cloverdale can feel busy on Main Street and still print a one-year price cut.

Clayton often shops as Cloverdale in real life even when the listing sheet says otherwise. Treat Clayton townhomes as part of this family market, then confirm the exact solds on the street rather than the area label.

South Surrey and Semiahmoo: High Floor, Slow Grind

Semiahmoo Town Centre anchors South Surrey. Grandview Heights, Ocean Park, Crescent Beach, Morgan Creek, and White Rock sit in the same board file. The composite was $1,010,000 in August, almost unchanged from July and down 7.2% year over year.

Detached homes are the local product. The $1,649,200 benchmark rose 0.1% from July. Townhouses took the harder hit, down 11.1% year over year to $820,300. Apartments held better than the rest of Surrey, down 6.2% to $550,800 and up 0.7% from July.

August sales in the White Rock and South Surrey file were 48 detached, 33 townhouses, and 52 apartments. Active listings sat at 616 detached, 280 townhouses, and 321 apartments. Large-lot houses still take time. Well-priced family product still trades.

This is not the first-time buyer town centre unless the budget is already there. Compare it with Langley only after you have run the payment. The Langley detached benchmark in the same month was $1,479,400, which is below South Surrey and above Surrey Central.

What Board Leadership Says About the Standoff

Ishaq Ismail, Chair of the Fraser Valley Real Estate Board, described August as a standoff. "We're seeing a bit of a tug-of-war between buyers and sellers right now," he said in the September 2 release. "Some buyers are seeing an opportunity to negotiate below asking price, while sellers who need to sell are more likely to accept lower offers."

Anthony Boone, Interim CEO of the board, pointed to the three-year reset. "Prices are now as much as 15 per cent lower than they were three years ago, and these conditions are expected to continue to favour buyers for the foreseeable future," he said.

Those quotes describe the board, not every street. A priced-right Fleetwood townhouse and a stale Ocean Park listing are not in the same tug-of-war.

What This Means If You Are Buying

Shop the town centre and the home type, not the city headline. A $912,700 Surrey composite will not qualify you for a Semiahmoo house and will overstate what you need for a City Centre one-bedroom.

•       Get approved first. The mortgage stress test, not the list price, is still the binding constraint for most first-time buyers.

•       Use the home buying process as the sequence: approval, search, subjects, then firm.

•       Keep financing and inspection conditions. August days on market give you the time.

•       In City Centre, negotiate against condo inventory. In Newton, negotiate against slow absorption. In Cloverdale, do not assume every detached seller will cut.

•       If you also want a side-by-side with Langley, start on Langley listings after you have a payment range, not before.

When you are ready to look at live inventory, search current listings or book a consult. If you already own in Surrey and want a read on your street, use the home value review before you price a listing.

What This Means If You Are Selling

Sellers who need to move are accepting lower offers. Sellers who do not need to move are waiting. That split is why prices grind instead of crash.

•       Price to the last 90 days of solds in your town centre and housing type, not to last year's list.

•       City Centre condo sellers are competing with 699 active North Surrey apartments. Launch sharp.

•       South Surrey detached sellers still have a high floor. They do not have 2022 urgency.

•       If a prior listing stalled, read why the home did not sell before you relist the same number.

FAQ

What is the average home price in Surrey right now?

There is no single Surrey average that fits every buyer. According to the Fraser Valley Real Estate Board August 2026 MLS Home Price Index, the Surrey HPI area composite was $912,700. North Surrey sat at $640,800, Cloverdale at $930,900, and South Surrey and White Rock at $1,010,000.

Is Surrey a buyer's market in 2026?

Yes at the board level. The Fraser Valley Real Estate Board posted a 10% sales-to-active listings ratio in August 2026. A ratio under 12% is a buyer's market. City Centre condos and Newton listings give buyers more leverage than a well-priced Cloverdale townhouse.

Which Surrey town centre is the most affordable?

City Centre and the rest of the North Surrey HPI area. The August 2026 apartment benchmark was $401,400 and the townhouse benchmark was $681,400. Those are the lowest official type benchmarks inside the city.

How much is a detached home in South Surrey versus Newton or Cloverdale?

The South Surrey and White Rock detached benchmark was $1,649,200 in August 2026. Surrey Central detached, which covers Newton and Fleetwood, was $1,322,800. Cloverdale detached was $1,339,700.

Are Surrey condo prices still falling?

Yes in most HPI areas. North Surrey apartments were down 10.0% year over year to $401,400. Surrey Central apartments were down 11.2% to $462,800. Cloverdale apartments were down 11.3% to $505,700. South Surrey and White Rock apartments were the most stable, down 6.2% to $550,800.

Should first-time buyers wait for lower Surrey prices?

Waiting for a collapse is a bet, not a plan. North Surrey prices are already 20.8% below three years ago. Get financing guidance first, then buy in the town centre that matches the home type you can carry.