Current: Mission is a Stable Market with normal listing inventories, 14 %SOLD rate and Sale Price /List Price = 97%
(e.g.: means an average of a $21,450 Discount from the original list price on sale .)
Most Active Range: Homes between $350,00 - $550,000 have 26.1 %SOLD rate
Least Active Range:: Homes above $800,000 have 8.8 %SOLD rate
History: The Mission Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $34,625.
The Mission Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $38,001.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Mission has average Listing Supply; 245 homes are for sale and with the 14 %SOLD monthly rate gives us a ~7 months of inventory. Another indicator: 7% of the Active Listings have Reduced their Price by $28,072 on Average and $24,250 on Median for the last month. We project Mission Detached to be a Stable market.
February's Real Estate Statistics shows some of our Markets stabilizing with 44% of Vancouver's Detached Markets increasing values this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $13,230 which is the same as last month's price drop of $13,255. On Average, the Fraser Valley's Market is balanced with just a $464 monthly price decrease. The following month's forecasts are continued Buyer's Detached Market across most of Vancouver and a Stable Market in the Fraser Valley.
Currently, the Condo Market presents a Cooler Market with 63% of Greater Vancouver (Lower Mainland) with decreasing prices. At the same time, 67% of Townhouse Markets are decreasing. (16 out of 28 Markets). We are forecasting a continued Buyers Market in all Condo/Townhouse Markets for the short term. We 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 Neighborhood.