JULY 2026 REAL ESTATE MARKET UPDATE: SOUTH SURREY, WHITE ROCK AND THE FRASER VALLEY

 

The July 2026 real estate statistics are now available, and the latest numbers continue a trend we have been watching for several months across South Surrey, White Rock and the Fraser Valley.  Buyers continue to have plenty of choice, prices have gradually moved lower, and there does not appear to be a great deal of urgency on either side of the market.  That does not mean homes are not selling. They certainly are. But buyers generally have more time to consider their options, compare properties and negotiate than they did in the much faster markets we became accustomed to a few years ago.  For sellers, this makes accurate pricing and understanding the competition particularly important.

Let’s take a closer look at the July numbers.

 

1. THE FRASER VALLEY REMAINS A BUYER FRIENDLY MARKET

According to the Fraser Valley Real Estate Board, 1,089 properties sold across the Fraser Valley in July. That was 5.1% fewer sales than June and 8.5% fewer than July 2025.  At the same time, 2,836 new listings entered the market during July, while total active inventory finished the month at 10,044 properties.  Although active inventory declined 3.2% from June, the Fraser Valley Real Estate Board reports that inventory remained approximately 32% above the ten year seasonal average.

That is an important number.

There may be fewer homes available than there were a month ago, but historically speaking, buyers still have a substantial amount of selection.  The Fraser Valley sales to active listings ratio was 11% in July. The Board generally considers a ratio between 12% and 20% to represent balanced market conditions.  At 11%, the Fraser Valley continues to sit slightly on the buyer’s side of that range.

2. PRICES CONTINUED TO EASE IN JULY

The composite benchmark price for a typical Fraser Valley home was $877,600 in July.  That represents a decline of 0.8% from June and approximately 7.2% compared with July 2025.

Breaking it down by property type:

Detached homes had a benchmark price of $1,335,200, down 1.1% from June and 8.3% from July 2025.

Townhouses had a benchmark price of $757,300, down 0.9% from June and 7.1% from one year ago.

Apartments had a benchmark price of $469,500, down approximately 1.4% from June and 9.1% from July 2025.

It is worth remembering that benchmark prices are designed to track the value of a typical property. They should not be confused with average sale prices, which can move considerably depending on the mix of homes that happened to sell during a particular month.  What the benchmark data does show us is that the gradual price adjustment we have been seeing across the Fraser Valley continued in July.

3. SOUTH SURREY AND WHITE ROCK

For those of us watching the South Surrey and White Rock market more closely, the local numbers are especially interesting.  There were 156 sales across detached homes, townhouses and apartments during July.

That included:

61 detached home sales

38 townhouse sales

57 apartment sales

Interestingly, the 156 total sales were almost identical to the 155 sales recorded during July 2025.  Sales activity therefore has not disappeared. What has changed significantly is the amount of negotiating power buyers have and the prices at which transactions are taking place.  There were 375 new listings across the three major residential property categories during July and approximately 1,245 active listings at month end.  The overall South Surrey and White Rock composite benchmark price was $1,011,000.  That was down 2.4% from June and 8.3% compared with July 2025.

The individual property categories tell us even more.

4. SOUTH SURREY AND WHITE ROCK DETACHED HOMES

The benchmark price for a detached home in South Surrey and White Rock was $1,647,200 in July. That represented a 2.9% decline from June and a 9.7% decline from July 2025.  There were 61 detached home sales during the month compared with 71 in June, while 633 detached homes remained actively listed.  For detached home sellers, competition remains significant.  Buyers looking in this price range can often compare several properties before deciding which one provides the best combination of location, condition and value.  For sellers, this makes positioning the home correctly from the beginning particularly important.

 

5. TOWNHOUSES

The South Surrey and White Rock townhouse benchmark fell to $834,900.  That was down 2.2% from June and 10.2% from July 2025.  There were 38 townhouse sales in July compared with 50 in June. Active townhouse inventory finished the month at 283.  The year over year benchmark decline is noticeable, but it should also be kept in perspective.  Different townhouse complexes can behave very differently depending on age, location, maintenance, strata fees, floorplan, amenities and the amount of competing inventory.  This is one of the reasons neighbourhood and complex specific comparable sales remain more useful to an individual homeowner than a broad regional statistic.

6. CONDOS AND APARTMENTS

Apartments had a July benchmark price of $546,900 in South Surrey and White Rock.  That represented a 2.5% decline from June and a 6.1% decline compared with July 2025.

There were 57 apartment sales during July, slightly higher than the 55 sales recorded in June.  Active apartment inventory stood at 329 listings.  Of the three main property categories, apartment sales were actually the most stable month to month locally, even as benchmark prices continued to adjust.

7. WHAT IS HAPPENING ACROSS THE LOWER MAINLAND?

The Fraser Valley is not experiencing these conditions in isolation.  Greater Vancouver REALTORS® reported 2,061 residential sales across Metro Vancouver during July, down 9.8% from July 2025 and 18.6% below the ten year seasonal average.  Metro Vancouver had 16,476 active listings, approximately 26.8% above its ten year seasonal average.  Its composite benchmark price was $1,088,800, down 0.9% from June and 6.2% from July 2025.  The sales to active listings ratio in Metro Vancouver was 13%.  So although individual communities are behaving differently, much of the Lower Mainland is experiencing a similar environment: relatively high inventory, cautious buyers and gradual downward pressure on prices.

8. WHAT DOES THIS MEAN FOR BUYERS?

For buyers who are financially prepared to purchase, this market offers something that was difficult to find only a few years ago: time.  Many buyers can look at several homes, review documents properly, arrange inspections and negotiate without feeling that every decision needs to be made immediately.  That does not mean every home is negotiable.  A well priced, attractive property can still receive strong interest. But generally speaking, buyers currently have substantially more choice than they did during the highly competitive markets of recent years.  For someone planning to move up from a condo or townhouse into a detached home, changing price relationships can also create opportunities that are worth examining.

9. WHAT DOES THIS MEAN FOR SELLERS?

This is not a market where I would automatically tell a homeowner not to sell.  People sell for many reasons, and homes continue to change hands every day.  However, sellers need to understand what buyers are comparing their property against.  When inventory is high, buyers are less likely to overlook an aggressively priced home, needed repairs, poor presentation or a property that simply offers less value than competing listings.  The first few weeks on the market can therefore be very important.  A pricing strategy should be based on recent comparable sales, current competing listings and what buyers are actually responding to today, rather than where prices may have been a year or two ago.

10. A MARKET THAT REWARDS PATIENCE AND GOOD INFORMATION

My biggest takeaway from the July numbers is that we should resist the temptation to make the market sound more dramatic than it is.  Prices have come down.  Inventory remains high.  Buyers have more negotiating power.  At the same time, homes are still selling, and South Surrey and White Rock actually recorded almost exactly the same number of residential sales this July as they did one year ago.  The difference is the environment in which those sales are happening.  For buyers, this can be a good opportunity to slow down and make careful decisions.  For sellers, realistic expectations, presentation and accurate pricing matter more than ever.  And for homeowners who are simply curious about what these statistics mean for their particular neighbourhood, building or townhouse complex, the broader numbers are really only the starting point.  If you would like my opinion on what the current market may mean for your home, or for a property you are considering purchasing, please feel welcome to reach out. I’m always happy to look at the numbers with you.