Mission, BC Real Estate Market Update – February 2025
The real estate market in Mission, BC saw a significant shift in February 2025, with declining sales and increased inventory creating more opportunities for buyers. As Fraser Valley trends indicate a softening market, Mission has followed suit, giving buyers greater negotiating power. Let’s take a closer look at the latest numbers and what they mean for the market.
Detached Homes: Lower Sales, More Choice
Sales of detached homes in Mission dropped 57.1% year-over-year, with only 18 sales in February 2025, compared to 42 in the same month last year. This also marked a 30.8% decline from January 2025, when 26 detached homes were sold.
However, despite the slowdown in sales, active listings for detached homes increased by 47.7% year-over-year to 220 properties, offering buyers a wider selection.
🔹 Detached Home Prices (Feb 2025):
•Benchmark Price: $1,056,200 (↑ 0.4% YoY, ↑ 3.0% MoM)
•Median Price: $1,039,500 (↓ 0.4% YoY, ↓ 1.3% MoM)
•Average Price: $1,062,632 (↓ 5.0% YoY, ↓ 8.3% MoM)
While prices are still holding steady overall, the decline in average pricing suggests that buyers are negotiating more aggressively.
Townhouses: A Sharp Sales Decline but Price Stability
The townhouse segment in Mission also experienced a 72.7% drop in sales year-over-year, with only 3 townhomes sold in February, compared to 11 in February 2024.
Despite this, pricing remained stable:
•Benchmark Price: $667,500 (No change YoY, ↓ 2.6% MoM)
•Median Price: $799,000 (↑ 9.8% YoY, ↑ 14.2% MoM)
•Average Price: $777,966 (↑ 6.4% YoY, ↑ 11.6% MoM)
This suggests that while fewer buyers are in the market, those who are purchasing townhomes are paying close to asking prices, and higher-end townhomes may be influencing median price growth.
Apartments: Inventory Growth, Price Adjustments
The apartment market in Mission saw the steepest decline in sales, with only 2 units sold in February 2025, down 85.7% from February 2024 (14 sales). However, active listings surged 34.2% year-over-year, providing buyers with more options.
🔹 Apartment Prices (Feb 2025):
•Benchmark Price: $533,200 (↑ 2.2% YoY, ↓ 0.9% MoM)
•Median Price: $728,000 (↑ 4.3% YoY, ↓ 4.0% MoM)
•Average Price: $731,000 (↑ 2.8% YoY, ↓ 4.0% MoM)
With apartment prices softening slightly month-over-month, buyers may have room to negotiate.
Key Takeaways: Mission’s Market in February 2025
•Sales are down significantly across all property types.
•Inventory is growing, giving buyers more selection and negotiation power.
•Detached home and apartment prices remain relatively stable, while townhouses are seeing some upward movement in median and average prices.
•The overall Fraser Valley market continues to favour buyers, with a high inventory-to-sales ratio.
Infographic Market Snapshot
What This Means for Buyers & Sellers
✅ Buyers: More selection, less competition, and potential for better deals.
❗ Sellers: Pricing competitively is key to attracting interest in a slower market.
As we move into the spring market, it will be interesting to see if sales activity picks up or if Mission continues to shift toward a buyer’s market.
Thinking of buying or selling in Mission, BC? 📍 Whether you’re looking to make a move or just want to understand how the current market impacts your plans, I’m here to help. Let’s chat! Give me a call at 604-302-0177 or send me a message to discuss your real estate goals.
✅ Ready to take the next step? Browse my current listings or schedule a free home evaluation today!