Surrey Townhouse Market Update (2026): Prices, Sales & What It Means for Buyers and Sellers
Townhouses have quietly become one of the most important housing types in Surrey.- More affordable than detached homes
- More space than condos
- Lower maintenance for families
Prices: Holding Up Better Than Detached Homes
Across Surrey’s key areas:- South Surrey / White Rock: up slightly month-to-month, but still ~8% down year-over-year
- Cloverdale: down ~8%
- Surrey (central): down ~8%
- North Surrey: roughly flat, down ~7%
- Townhouses are holding value better than detached homes
- Detached homes have seen larger declines
- It’s actually a better time to upsize than in a rising market
Long-Term Trend: Why Townhouses Matter More Than Ever
Looking at the bigger picture:- Townhouses lagged during early 2010s
- Exploded in demand around 2016
- Became a core family housing option post-2020
- They are no longer “step-up” housing
- They are primary housing for many families
Sales Activity: Still Weak Overall
Recent trends:- Some areas (like North Surrey) showing strong increases
- Others (like central Surrey) lagging badly
- Sales are still near historic lows
- The market has improved slightly
- But it is still far from strong
Inventory: Where the Pressure Is Coming From
The biggest issue right now:- Inventory is stacking up—especially in central Surrey
- That’s where most new townhouse construction is happening
- More listings = more competition
- More competition = downward pressure on price
- North Surrey is relatively undersupplied
- Cloverdale is closer to balanced
Months of Supply: Still a Buyer’s Market
Current conditions:- Surrey: ~8 months (buyer’s market)
- North Surrey: ~8 months (buyer’s market)
- South Surrey: borderline buyer’s market
- Cloverdale: closer to balanced
- Even in a buyer’s market, some areas are seeing price increases
- That usually means:
- Strong demand for specific product types
- Buyers competing for “good” listings
Pricing Reality: Sellers Need to Understand This
Two critical stats:Original List Price vs Sale Price
- Most homes sell around 95–97% of original price
Current List Price vs Sale Price
- Most homes sell within 2–3% of asking
- Buyers are not massively lowballing
- Sellers are simply starting too high
Why Some Homes Sell (And Others Don’t)
In today’s townhouse market:- Well-priced homes → sell quickly
- Overpriced homes → get ignored
- Know the market
- Recognize value instantly
- Skip overpriced listings entirely
Days on Market: The Most Important Number
Right now:- Average: ~35 days to sell
- If your townhouse hasn’t sold in ~35 days → it’s overpriced
- Improve condition (rarely the issue)
- Improve marketing (sometimes helps)
- Adjust price (almost always required)
Why Townhouses Are More Stable
Compared to detached homes:- Less variation between properties
- More “cookie-cutter” comparables
- More end-user buyers (less investor speculation)
- Tighter pricing
- More predictable outcomes
What This Means for Buyers
Right now:- More selection than usual
- Less competition overall
- Ability to be selective
- Good properties still sell fast
- Pricing still matters
What This Means for Sellers
If you’re selling in Surrey:- You have more competition than before
- Pricing strategy is everything
- Buyers will not “test” overpriced listings
- The market will tell you quickly if you’re wrong
Final Thought
The townhouse market isn’t crashing—but it isn’t strong either.- Prices are down modestly
- Sales are still slow
- Inventory is elevated
- Demand is still there
- The best properties are still selling
- Townhouses have become the backbone of family housing
Written by:
Steve Karrasch PREC
Karrasch Real Properties Team
Macdonald Realty