Millions slashed from Surrey home listed under the assessed value
A home in Surrey has had its asking price essentially slashed by more than half since it was first listed in 2023.
The Surrey home and property, located near downtown Langley, was first listed in 2023 for a whopping $17.5 million.
This week, it was relisted for $7,650,000.
In communication with the realtor behind the property, we’ve been informed that the most recent assessed value of the property is $16,248,100 after farm classification was removed.
The listing indicates there are 4.99 acres of RA-zoned land available for sale, which is located in the Anniedale-Tynehead Neighbourhood. The property has been approved under the City of Surrey’s Neighbourhood Concept Plan for future Light Industrial use.
According to Zealty’s history for the property, it was last sold in 2007 for $2,010,000. The property is over 60 years old now.
Pictures do show off a lot of land, and a home that has seen better days.
Re/Max Real Estate Services
“The Anniedale-Tynehead NCP designates this site for Industrial Business Park use. Buyers are advised to perform their own due diligence with the City of Surrey. Primary value lies in the land,” the listing says.
Re/Max Real Estate Services
According to the listing, the sale includes the home and the land. The house consists of three bedrooms and two bathrooms with around 2,300 sq. ft. of total space.
Re/Max Real Estate Services
After the July 2023 listing for $17,500,000, it was reduced to $15,900,000 the following year before the listing was terminated without a buyer.
It was then relisted in October 2025 for $14,500,000 before it was reduced to $11,899,000 in December. Then it was relisted again this month for the current price.
Re/Max Real Estate Services
The property is located in a fairly rural area of Surrey, with downtown Langley being the closest major city centre.