In a typically calm month for real estate, the Fraser Valley Real Estate Board (FVREB) recorded a 72% increase in sales for the month of January 2021, proving the record-breaking demand for property in the Fraser Valley shows no signs of stopping. The FVREB processed 1,718 sales for the month of January 2021, the highest recorded sales ever for the month of January.
“Buyers are very motivated right now,” said Chris Shields, President of the Board, “Lending rates are the lowest they’ve ever been, your housing dollar goes further in the Fraser Valley and we’ve seen a societal shift in the last year in how people value their homes. People are asking us to find them more space.”
There has never been a better time than now to sell your home. While the market is still favoring sellers, a recent uptick in new listings is an encouraging sign that the housing supply will continue to improve.
The Board processed 1,718 sales of all property types on its Multiple Listing Service® (MLS®) in January 2021. 53 sales took place in Mission — a 13.8% increase in sales from this month last year. 41 detached homes were sold in January 2021, compared to 29 in January 2020. The sales of townhomes and apartments saw a moderate increase this month compared to January 2020.
Active listings in Mission for detached homes and townhomes decreased by 51.77% and 73.33% respectively compared to this month last year, generating the unprecedented demand for family homes in the Fraser Valley.
Mission Real Estate Statistics
- 62 new listings in January 2021 compared to 37 in December 2020.
- 53 sales of all property types in January 2021, down from 63 sales in December 2020.
- The number of active listings in Mission for all property types increased by 12% compared to last month.
- Mission’s Benchmark Price for detached homes in January 2021 was $795,300 compared to $652,400 in January 2020, an increase of 21.9%.
If you’re considering selling your home, now is the time! I would love to help you take advantage of this incredible demand for real estate in Mission, or help you break into this competitive market. If you have any questions about the current market, or would like a complimentary home evaluation, give me a call at 604-302-0177 or email me at [email protected] – I’d be happy to hear from you!