The Fraser Valley Real Estate Board (FVREB) reported an historic milestone this month, surpassing the previous record set, which was for seven consecutive months in 2015/2016. This unparalleled demand for single family homes in Mission is reflected in an amazing 196.4% increase in sales compared to April 2020.
Despite recording the highest ever number of sales for the month of April, it appears the market is beginning to become more accessible as the FVREB continues to receive an incredibly high volume of new listings. This growth in supply has caused the current increase in home prices to slow, which will come as a relief to many trying to break into the market.
The Board processed 3,016 sales of all property types on its Multiple Listing Service® (MLS®) in April 2021. 93 sales took place in Mission — a whopping 95% increase in sales from this month last year. 83 detached homes were sold in April 2021, compared to 28 in April 2020. The sales of townhomes and apartments doubled this month compared to April 2020.
Active listings in Mission for detached homes and townhomes decreased by 23% and 71.9% respectively compared to this month last year, continuing the extraordinary demand for family homes in the Fraser Valley.
Mission Real Estate Statistics
- 123 new listings in April 2021 compared to 137 in March.
- 93 sales of all property types in April 2021, down from 101 sales in March.
- The number of active listings in Mission for all property types increased by 31.8% compared to last month.
- Mission’s Benchmark Price for detached homes in April 2021 was $902,900 compared to $664,300 in April 2020, an increase of 35.9%.
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!