The real estate markets in North Delta and Surrey are presenting a wealth of opportunities for potential buyers, as home prices continue to decline for the tenth consecutive month. January's data from the Fraser Valley Real Estate Board (FVRB) reveals a significant drop in sales compared to both the previous month and the same period last year, coupled with a substantial increase in available listings.
Key Takeaways
- Home prices in the Fraser Valley have fallen for ten consecutive months.
- January saw a notable decrease in sales volume compared to December and the previous year.
- Inventory levels are significantly above seasonal averages, offering buyers more choice.
- Benchmark prices for single-detached homes, townhouses, and condos have decreased year-over-year in both North Delta and Surrey.
Market Conditions Favor Buyers
January kicked off the year with minimal market momentum, according to FVRB chair Tore Jacobsen. "Prices continued to weaken while at the same time selection remains high," Jacobsen stated. "Under normal market dynamics, these would be considered highly favourable conditions for buyers, however the uncertainty of the past year or so continues to loom large, subduing buyer confidence and muting overall market activity."
Overall inventory in the Fraser Valley remains elevated, with active listings up 11 percent from December and a substantial 54 percent above the 10-year seasonal average. This high inventory, combined with weakening prices, typically signals a buyer's market.
North Delta Real Estate Snapshot
In North Delta, the benchmark price for a single-detached house in January 2026 stood at $1,269,100. This figure is nearly unchanged from the previous month but represents a 10.5 percent decrease from January 2025. Townhouses and condos in North Delta also saw year-over-year price reductions, with benchmark prices recorded at $901,700 and $517,700, respectively.
Surrey Real Estate Trends
The City of Surrey, encompassing areas like Surrey Central, Cloverdale, and North Surrey, mirrors these trends. The combined benchmark price for a single-detached house in January 2026 was $1,468,500, a slight dip from December and an 8.3 percent decrease from January 2025. Surrey North experienced the most significant year-over-year drop, exceeding 10 percent. For townhouses and condos in Surrey, benchmark prices in January 2026 were $789,300 and $480,800, respectively, showing decreases of over seven and eight percent compared to the previous year.
