The Fraser Valley Real Estate Board has recorded another record-breaking month of sales in October 2020, reporting an increase of 48.9% from this month last year. An astounding 2,370 sales of all property types were processed on its Multiple Listing Service® (MLS®) in October 2020 for the entire region. 83 sales took place in Mission, an increase of 27.1% from October 2019 for detached homes, and an increase of 45.5% from October 2019 for townhomes.
Chris Shields, President of the Board observes, “The situation is unprecedented. We are in the middle of a pandemic and in many of our communities we are seeing a strong seller’s market for townhomes and single-family homes priced correctly.”
Active listings in Mission for detached homes and townhomes decreased 45.9% and 48.4% respectively compared to this month last year. This decrease is reflective of fewer new listings and an exceptional number of sales.
Mission Real Estate Statistics
69 new listings in October 2020 compared to 96 in September.
Sales decreased from September to October by a total of 21; though this is an increase from 63 sales in October 2019 to 83 in October 2020.
The number of active listings decreased 17.6%, reflective of the decrease in new listings this month.
Mission’s Benchmark Price for detached homes in October 2020 was $726,000 compared to October 2019 which was $639,700, an increase of 13.5%.