Surrey house prices have dropped close to $50k since peaking in 2018 and the benchmark house price dropped below $1 million. Surrey house prices recovered a over the past few months but with house prices dropping in other parts of the lower mainland this surge is likely short-lived.
Surrey condo prices are also down since their peak in 2018.
There has been an increase in Surrey home purchases this Spring however it is still slower than prior years and there are many homes for sale.
As we enter the Summer months, some sellers will likely accept price concessions rather than wait to re-list next Spring.