Despite low inventory levels, the Fraser Valley Real Estate Board processed 1,554 sales on its Multiple Listing Service in April, which is nearly unchanged from March and a slight drop of 5.1% from the same month last year. The Board received 2,478 new listings in April, a 3.2% drop from March, and a 31.6% decrease from last year. With the current high prices, sellers are expected to seek a profit from the market’s price growth. The composite Benchmark price rose 2.8% to $992,000, while single-family detached homes increased by nearly four per cent, month-over-month. The low inventory helped push prices higher, with the average number of days to sell a single-family detached home being 25 days and a townhome being 23 days. Apartments took an average of 26 days to sell.

Realtor Insights for April 2023

Mission Real Estate Statistics April 2023

  • The Board processed 1,554 sales of all property types on its Multiple Listing Service® (MLS®) in April 2023. 54 sales took place in Mission — a 25.8% decrease from April 2022. 38 detached homes were sold in April 2023, compared to 54 in April 2022. The sales of townhomes increased slightly compared to this month last year, and the sales of apartments in Mission in April 2023 decreased 33%. 
  • Active listings in Mission for detached homes decreased by 26% compared to this month last year, while townhomes remained the same and apartments increased 105%.
  • New listings in April 2023 decreased by 59% compared to this month last year.
  • Mission’s Benchmark Price for detached homes in April 2023 was $981,500 compared to $1,268,600 in April 2022, a decrease of 22.6%. 

Are you thinking of buying or selling your home? Contact me today! I’d be happy to answer any questions you have about the current market or schedule a complimentary home evaluation. You can reach me directly at 604 302 0177 or [email protected] – let’s talk.

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