Mission, BC Real Estate Market Update – January 2025
The Mission real estate market started the year with a mix of growing inventory, stable pricing, and slower sales, providing unique opportunities for buyers. As inventory levels across the Fraser Valley hit a decade-high, the Mission market reflected this shift, making conditions favorable for those looking to enter the market.
Detached Homes: Increased Listings, Stable Prices
Sales of detached homes in Mission remained steady compared to previous months, with 26 properties sold in January 2025, marking a 36.8% increase year-over-year from 19 sales in January 2024. However, compared to December 2024, sales surged 73.3%, signaling renewed buyer activity after the holiday season.
🔹 Detached Home Market Snapshot (Jan 2025):
•Benchmark Price: $1,025,000 (↑ 0.7% YoY, ↑ 0.2% MoM)
•Median Price: $1,053,375 (↑ 6.9% YoY, ↑ 7.5% MoM)
•Average Price: $1,158,759 (↑ 8.0% YoY, ↑ 11.0% MoM)
•Active Listings: 202 (↑ 33.8% YoY)
With 81 new listings, up 32.8% year-over-year, buyers had more selection. Active listings increased by nearly 34%, giving buyers more time and flexibility to make purchasing decisions.
Townhouses: Strong Demand Despite Fewer Listings
Townhouse sales in Mission remained steady, with 6 townhomes sold in January 2025, a 20% increase from January 2024 and double the sales from December 2024.
🔹 Townhouse Market Snapshot (Jan 2025):
•Benchmark Price: $685,500 (↑ 4.9% YoY, ↑ 0.4% MoM)
•Median Price: $699,900 (↑ 6.0% YoY, ↓ 4.8% MoM)
•Average Price: $696,883 (↑ 4.9% YoY, ↓ 8.7% MoM)
•Active Listings: 36 (unchanged MoM)
While new listings dropped 50% year-over-year, strong demand kept prices stable. Buyers in the market for a townhome faced fewer choices, making competitive offers necessary.
Apartments: Slow Sales, Increased Inventory
The apartment market in Mission saw the biggest decline in sales, with only 2 units sold in January 2025, down 75% from January 2024 and 50% from December 2024.
🔹 Apartment Market Snapshot (Jan 2025):
•Benchmark Price: $457,400 (↑ 4.1% YoY, ↓ 0.1% MoM)
•Median Price: $466,500 (↑ 10.3% YoY, ↓ 3.7% MoM)
•Average Price: $466,500 (↑ 9.2% YoY, ↓ 7.0% MoM)
•Active Listings: 32 (↓ 34.7% YoY, ↑ 14.3% MoM)
With apartment sales slowing and active listings rising, sellers may need to price competitively to attract buyers.
What This Means for Buyers & Sellers
•Buyers: More inventory and stable prices present great opportunities, especially in detached homes.
•Sellers: Pricing your home competitively is key, as higher inventory gives buyers more negotiating power.
Final Thoughts: A Buyer’s Market?
With inventory increasing and the sales-to-active listings ratio at 11%, the Fraser Valley and Mission markets are leaning toward a buyer’s market. If this trend continues, 2025 could offer buyers more leverage in negotiations.
Thinking about buying or selling in Mission, BC? Now is a great time to explore your options in this shifting market. Whether you’re looking to take advantage of increased inventory as a buyer or want expert guidance on pricing your home competitively as a seller, I’m here to help.
📞 Let’s chat! Call or text me 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 book a free home evaluation today!