The Fraser Valley real estate market continues to see a surge in new listings on May 2021. This signals a slow return to a balanced market. It also provides much-needed optimism for prospective homebuyers. Insatiable demand for real estate in the Fraser Valley has not waned. However, potential buyers are now seeing more choice. Inventory has increased 40% in the last three months.
The FVREB recorded its ninth consecutive month of record-breaking sales. Total sales in Mission are up 114.7% from May 2020. Whether you’re thinking of buying or selling, now is the time! This market continues to show signs of improvement. Yet, an experienced Realtor remains important. They can help you navigate this highly competitive market. With over 18 years in the field and over 1,000 homes sold, I can help you with your real estate goals!
Fraser Valley & Mission Sales Activity
The Board processed 2,951 sales of all property types on its Multiple Listing Service® (MLS®) in May 2021. In Mission, 107 sales took place. This is a staggering 114.7% increase from May 2020.
- Detached Homes: Mission sold 89 detached homes in May 2021. This compares to 22 in May 2020.
- Townhomes: Sales of townhomes doubled this month compared to May 2020.
- Apartments: Apartment sales tripled this month compared to May 2020.
Mission Inventory & Pricing Snapshot
Active listings in Mission show ongoing demand. For detached homes, active listings decreased by 30.6% compared to May 2020. Townhome active listings fell by 72.4% compared to May 2020. This perpetuates the unwavering demand for family homes in the Fraser Valley. Here are the key Mission Real Estate Statistics for May 2021:
- New listings totaled 109 in May 2021. This compares to 147 in April.
- Sales of all property types reached 107 in May 2021. This is up from 93 sales in April.
- Active listings for all property types in Mission decreased by 18.5% compared to April.
- Mission’s Benchmark Price for detached homes in May 2021 was $926,100. This marks a 37.2% increase from $675,100 in May 2020.
Act Now in This Demand-Driven Market
Now is an excellent time to list your home and take advantage of this incredible demand for real estate in Mission. If you have any questions about the current market, or would like a complimentary home evaluation, give me a call at 604-302-0177 or email me at [email protected] – I’d be happy to hear from you!
Latest statistics package here!