The Fraser Valley Real Estate Board recorded its highest number of sales ever for the month of September, beating last year’s sales by a whopping 66%. A record breaking number of new listings to its Multiple Listing Service® (MLS®) has certainly helped maintain this momentum.

Chris Shields, President of the Board, observes, “For many existing homeowners and first-time buyers, their buying power is greater than it’s been in a long time. Interest rates are very low, people have saved money over the last few months, and they’re choosing to invest it in their most important asset. Sellers are also recognizing that with lower than normal inventory, this is a smart time to list.”

As we are spending more time at home, the Fraser Valley has seen a shift in demand toward single-family homes and townhomes that provide space and livability. This is reflected in the current price of homes and townhomes, as shown in the following table.

Mission Real Estate Statistics

77 new listings in September 2020 compared to 85 in August.

Sales slightly increased from August to September by a total of 9; though the total number of sales is more than double that of September 2019.

The number of active listings slightly decreased, reflective of the decrease in new listings this month.

Mission’s Benchmark Price for detached homes in September 2020 was $711,700 compared to September 2019 which was $637,600, an increase of 11.6%.

Latest statistics package here!