The Fraser Valley real estate market saw an increase in new listings providing some relief to housing supply issues. Active listings also grew by 20% in May, the highest month-over-month jump in over a year. Despite the increased supply, demand remained strong with a 10.1% increase in sales compared to the previous month. Prices continued to rise across all categories, with the composite Benchmark price surpassing $1 million, reaching a level not seen since September 2022.

FVREB Market Snapshot

Mission Real Estate Statistics

The Board processed 65 sales of all property types on its Multiple Listing Service® (MLS®) in Mission in May 2023 – a 23% increase from this month last year. 50 detached homes were sold in May 2023, compared to 40 in May 2022. The sales of townhomes increased 85.7% while the sales of apartments decreased 66.7% compared to May 2022.

Active listings in Mission for detached homes decreased 12.7% compared to this month last year.

158 new listings in May 2023 compared to 93 in April 2023.

Sales of all property types in Mission increased by 18% compared to April 2023. 

Mission’s Benchmark Price for detached homes in May 2023 was $1,034,200 compared to $992,500 in April 2023.

Do you have questions about buying or selling in today’s market, or are you wondering what your property is worth? Give me a call today at 604 302 0177! I look forward to hearing from you.

Latest May 2023 statistics package here!