Unlike typical winter months where sales slow down, the Fraser Valley Real Estate Board recorded the highest number of sales ever for the month of November this month. The board recorded a 5.5% decrease in new listings and 9.2% decrease in sales in the Fraser Valley compared to this month last year.
Baldev Gill, Chief Executive Officer of the Board, speculates historically low interest rates and a strong economic recovery post pandemic has perpetuated the record breaking sales we continue to see at the close of 2021.
The Board processed 1,972 sales of all property types on its Multiple Listing Service® (MLS®) in November 2021. 62 sales took place in Mission, compared to 81 sales in October 2021. 50 detached homes were sold in November 2021, compared to 52 in November 2020. The sales of townhomes increased by 3.3% compared to this month last year.
Active listings in Mission for detached homes and townhomes decreased by 42.2% and 53.8% respectively compared to this month last year.
Mission Real Estate Statistics
- 56 new listings in November 2021 compared to 73 in October.
- 62 sales of all property types in November 2021, down 26.5% compared to October.
- The number of active listings in Mission for all property types decreased 21.5% compared to last month.
- Mission’s Benchmark Price for detached homes in November 2021 was $1,027,400 compared to $739,000 in November 2020, an increase of 39%.
If you’re thinking of buying or selling your home, it’s important to have an experienced Realtor to help you navigate this competitive market. If you have any questions about the current market, or would like a complimentary home evaluation, contact me directly at 604-302-0177 or email me at [email protected] – let’s talk!
Latest statistics package here!