Why Overpricing Your Home in Surrey Could Cost You Thousands in 2026

If you’ve been thinking about selling your home this year, there’s something you need to understand:👉 The market has changed—and many sellers haven’t caught up yet.After one of the slowest real estate markets in decades, there’s a growing gap between:

• What sellers think their home is worth
• And what the market is actually willing to pay

From what I’m seeing working as a realtor in Surrey, this gap is becoming one of the biggest reasons homes aren’t selling—or worse, selling for less than they should.

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The Reality: Prices Have Been Falling

For the past 10+ months, the trend has been consistent:👉 Prices have been decliningAnd while that might not be exciting to talk about, it’s critical for sellers to understand.According to recent data:

• Benchmark prices are down roughly 6% year-over-year
• That’s about a $70,000–$80,000 drop in many segments

Yet many sellers are still pricing their homes based on:
👉 Last year’s peak values

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The Problem: Sellers Still Expect Yesterday’s Prices

Here’s what I’m hearing in almost every listing appointment right now in Surrey:“We want to sell… but only if we can get what we want.”And that’s completely understandable.But the issue is:👉 The market doesn’t care what we wantIt only responds to:

• Current demand
• Current competition
• Current pricing

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The Math Mistake Sellers Are Making

Let’s break this down with a real example.

Scenario:

• Your townhouse is worth: $700,000 today
• You want to sell for: $770,000

Why?Because you’re planning your next move and hoping to walk away with more.At the same time:

• You’re looking to buy a home listed at $1.4M
• And hoping to negotiate it down to $1.25M

👉 The problem?You’re:

• Overestimating your sale
• Underestimating your purchase

That gap can easily become:👉 $100,000+ in miscalculationAnd that’s what keeps people stuck.

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Buyers Are Doing the Same Thing (In Reverse)

It’s not just sellers.Buyers are:

• Seeing a $700K property
• Hoping to buy it for $650K

So now you have:👉 Sellers aiming too high
👉 Buyers aiming too lowAnd the result?👉 Nothing happens

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The Hidden Cost of Overpricing

Here’s where it gets expensive.Let’s say your home should be listed at:👉 $899,000But instead, you list at:👉 $979,000What happens?

• 30 days later → price drop
• 60 days later → another drop
• 90–120 days later → finally priced correctly

But during that time:👉 The market keeps movingIf prices are declining even modestly (say ~$10K/month):👉 You could lose $40,000+ just by waiting

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Timing Matters More Than Ever

In a declining or flat market:👉 Today’s price is often better than tomorrow’sThis is one of the biggest mindset shifts sellers in Surrey are struggling with right now.Because in past markets:

• You could “test the market”
• You could wait for a better offer
• You could price high and negotiate down

Today?👉 That strategy can cost you real money.

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Who This Impacts the Most

From what I’m seeing in the Surrey market, this is especially affecting:

• Downsizers
• Estate sales
• Divorce situations
• People leaving the area

Because unlike move-up buyers:👉 They’re not reinvesting into another propertySo every dollar lost is:👉 A direct loss—not offset by a cheaper purchase

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What About Waiting Until Next Year?

This is the fallback plan I hear all the time:“We’ll just wait until next year.”And sometimes—that’s the right decision.But here’s the risk:If prices continue to decline:

• Next year could be lower
• The year after could be lower

Eventually, the market will turn.👉 It always does.But the real question is:👉 How long can you afford to wait?

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My Take (From the Ground in Surrey)

Working day-to-day in the Surrey real estate market, this is the biggest challenge right now:👉 Aligning expectations with reality

• Sellers don’t want to leave money on the table
• Buyers don’t want to overpay

But the market is sitting in the middle—and it’s moving.The sellers who are succeeding right now are the ones who:

• Price correctly from day one
• Understand current conditions
• Position their property competitively

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Key Takeaways

• The market is still adjusting downward
• Overpricing leads to longer days on market and bigger losses
• Waiting can cost more than acting today
• Buyers and sellers are both misaligned on expectations
• Strategy matters more than ever in today’s market

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Final Thought

Selling in a market like this isn’t about luck.👉 It’s about positioning.Because right now in markets like Surrey:

• The right price sells
• The wrong price sits
• And time is not on your side

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Written by:
Steve Karrasch PREC
Karrasch Real Properties Team
Macdonald Realty