May 2024 has brought robust signs of growth and vitality across various housing sectors. As we delve into the detailed statistics below, we will uncover the dynamics shaping our local market, offering essential insights for buyers, sellers, and investors alike. Whether you are actively engaged in the market or monitoring developments, this comprehensive review provides a clear perspective on the current trends and future potential in Mission’s real estate landscape. Join me as we examine the numbers and their implications for our community.
Detached Homes Statistics
•Sales: Increased to 47 units in May 2024 from 42 units in May 2023.
•New Listings: Rose significantly to 115, up from 92 last May.
•Active Listings: Climbed to 190 from 140 in the previous year.
•Prices: The benchmark price now stands at $1,078,500, with an average sale price of $1,135,700.
Townhomes Statistics
•Sales: Grew from 12 in May 2023 to 16 in May 2024.
•New Listings: Increased to 28 from 20 in the same period last year.
•Active Listings: Saw a slight increase to 35.
•Prices: The benchmark price for townhomes is now $691,200, with the median price slightly higher at $710,800.
Apartments Statistics
•Sales: Expanded from 7 in May 2023 to 9 in May 2024.
•New Listings: Also saw an increase to 26 from 20 last May.
•Active Listings: A slight decrease to 38 from 41.
•Prices: Benchmark price now stands at $459,300, with the average price around $401,200.
These statistics highlight an overall positive trajectory for the real estate market in Mission. The increase in both sales and listings across all property types suggests a healthy market with active participation from both buyers and sellers. Particularly, the growth in detached home prices reflects the high demand for family-oriented residences in the area.
For potential buyers and investors, Mission’s diverse real estate offerings and its growing market conditions present compelling opportunities. For sellers, the increasing property values promise a favourable return on investment. As we continue through 2024, keeping an eye on these trends will be crucial for anyone involved in the Mission real estate market.
If you have any questions about real estate in Mission or would like a complimentary home evaluation, give me a call at 604-302-0177 or email me at [email protected] – let’s talk!