While demand for real estate in the Fraser Valley remains high, the Fraser Valley Real Estate Board ended their nine consecutive month of record-breaking sales this month. While sales in June 2021 are quite high compared to a typical year, 22% above the ten-year average, the Board reported a 24% decrease in sales this month compared to May 2021.
Larry Anderson, President of the Board, remarks, “A lack of supply continues to be the single largest factor affecting the market. Simply put, to meet current demand and get back to balance, we need about 3,500 more active listings in our region.”
The Board processed 2,247 sales of all property types on its Multiple Listing Service® (MLS®) in June 2021. 91 sales took place in Mission — a 16% decrease from May 2021. 81 detached homes were sold in June 2021, compared to 43 in June 2020. The sales of townhomes decreased by half compared to this month last year.
Active listings in Mission for detached homes and townhomes decreased by 38.3% and 50% respectively compared to this month last year.
Mission Real Estate Statistics
113 new listings in June 2021 compared to 109 in May.
91 sales of all property types in June 2021, down from 107 in May.
The number of active listings in Mission for all property types remained about the same compared to last month.
Mission’s Benchmark Price for detached homes in June 2021 was $925,500 compared to $686,900 in June 2020, an increase of 34.7%.
Whether you’re thinking of buying or selling, it’s important to have an experienced Realtor to help you navigate this competitive market. If you have any questions about real estate in Mission or would like a complimentary home evaluation, give me a call at 604-302-0177 or email me at [email protected] – let’s talk!
Latest statistics package here!