Reaching the second highest point for an October in the Fraser Valley Real Estate Board’s history proves the market is still HOT—even in the midst of fall.
Historically, cooler weather heralds a downward shift in the market, seeing less activity and a lowering of prices. Not so this year! There was a slight dip in overall inventory compared to September 2017 and October 2016, but an increase in new listings compared to October 2016.
Sellers seem confident of the market, and Buyers aren’t cooling down.
On average in October, an attached home spent 31 days on the market (Benchmark price $971,900), but the average number of days to sell an apartment (Benchmark price $369,400) was 18 days, and 19 days for townhomes (Benchmark price $502,800).
The demand for properties in Mission, BC remains high as prices elsewhere are out of reach for many. If you are considering selling your apartment or townhome, this is a good time as many are selling as quickly as they are listed.
Mission, BC is an excellent option for people looking for the most reasonably priced homes in the Fraser Valley market with access to all the major arteries. Lougheed Highway, Highway 1 and the West Coast Express offer an easy commute into the city.
Whether you’re buying or selling, make sure you are prepared and informed about the current real estate market by speaking with an experienced REALTOR!
I have access to all the latest stats and industry info, and will be your guide through every step of your real estate journey.
If you are ready to put your home on the market, check out my 10 STEP GUIDE TO SELLING YOUR HOME.
If you are searching for your dream home, read my 10 STEP GUIDE TO BUYING YOUR NEXT HOME.
CONTACT ME if you have ANY questions about buying or selling your home in Mission, BC! I’m here to help.