The Fraser Valley Real Estate Board has reported a summer slow down as residents travel, visit relatives, and enjoy relaxed COVID-19 restrictions. The board recorded an 11% decrease in sales from last month, and a 4.5% decrease in sales compared to July 2020. 

Supply continues to soften, continuing the 14-month long seller’s market the Fraser Valley has found itself in. The number of buyers in the Fraser Valley is significantly higher than sellers, and the Board reported the lowest amount of inventory in 40 years.

The Board processed 2,006 sales of all property types on its Multiple Listing Service® (MLS®) in July 2021. 72 sales took place in Mission — a 23% decrease from June 2021. 61 detached homes were sold in July 2021, compared to 76 in June 2020. The sales of townhomes decreased by more than half compared to this month last year.

Active listings in Mission for detached homes and townhomes decreased by 51.1% and 39.3% respectively compared to this month last year.

Mission Real Estate Statistics

65 new listings in July 2021 compared to 113 in June.

72 sales of all property types in July 2021, down from 91 in June.

The number of active listings in Mission for all property types decreased 18% compared to last month.

Mission’s Benchmark Price for detached homes in July 2021 was $929,600 compared to $688,300 in July 2020, an increase of 35.1%.

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