In May 2022, the Fraser Valley Real Estate Board processed 1,360 of all property sales, a 53.9% decrease compared to this month last year, and a 16% decrease from April 2022. This month, the FVREB recorded a 14.8% increase in active sales compared to April 2022, and a 5.4% increase year-over-year. As active listings continue to rise, the sales-to-active-listings ratio indicates a balanced market is coming.
The Board processed 1,360 sales of all property types on its Multiple Listing Service® (MLS®) in May 2022. 53 sales took place in Mission — a 27% decrease from April 2022. 40 detached homes were sold in May 2022, compared to 89 in May 2021. The sales of townhomes remained the same while the sales of apartments increased 40% compared to this month last year.
Active listings in Mission for detached homes and townhomes increased by 73.7% and 150% respectively compared to this month last year.
Mission Real Estate Statistics
134 new listings in May 2022 compared to 172 in April 2022.
Sales of all property types in Mission decreased by 16% compared to April 2022.
Mission’s Benchmark Price for detached homes in May 2022 was $1,193,600 compared to $960,400 in May 2021, a remarkable increase of 24.3%.
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. I’d be happy to provide a complimentary market analysis and property evaluation, no strings attached! Contact me anytime at 604 302 0177 – let’s talk!