Current: Mission is a Sellers Market with normal listing inventories, 45 %SOLD rate and Sale Price /List Price = 100% (e.g.: means an average of a $950 Discount from the original list price on sale .)
Most Active Range: Homes between $350,000 - $450,000 have 85.7 %SOLD rate
Least Active Range:: Homes above $750,000 have a 37.7 %SOLD rate
History: The Mission Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $95,577.
The Mission Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $74,146.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Mission has average Listing Supply; 105 homes are for sale and with the 45 %SOLD monthly rate gives us a ~2 months of inventory. Another indicator: 2% of the Active Listings have Reduced their Price by $12,556 on Average and on Median for the last month. We project Mission Detached to be a sellers market.
May's Real Estate Statistics show ALL 97 Markets are in a Strong Sellers Market and by most accounts, exceeding the 2016 Market Furious Activity Levels. This Consumer Confidence is largely due in part to an increased demand from a Large Local Investor Component and Lower Inventory Levels. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of $40,337, which is a dramatic increase over the $23,408 increase that we saw in April and Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $25,106, which is a decrease from the $32,589 increase that we saw in April.
Currently 100% of the Attached Markets are increasing at a fast pace in Greater Vancouver's 58 Markets. Last year our Emotionally Charged Single Family Markets peaked in June/July and this year we are forecasting a prolonged Sellers Market across all Markets. We continue to analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighbourhood.