Current: Mission is a Stable Market with normal listing inventories, 12 %SOLD rate and Sale Price /List Price = 98%
(e.g.: means an average of a $15,000 Discount from the original list price on sale .)
Most Active Range: Homes between $550,00 - $675,000 have 30.0 %SOLD rate.
Least Active Range:: Homes above $800,000 have 7.6 %SOLD rate.
History: The Mission Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $14,000.
The Mission Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $18,999.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Mission has average Listing Supply; 244 homes are for sale and with the 15 %SOLD monthly rate gives us a ~8 months of inventory. Another indicator: 10% of the Active Listings have Reduced their Price by $48,208 on Average and $20,000 on Median for the last month. We project Mission Detached to be a Stable market.
April's Real Estate Statistics shows that 76% of Single-Family Homes in Metro Vancouver have been in a Seller's Market. The Average Monthly Price increase was $2,100 which is a small decline from last month's $4,090 gain. On the other hand, Fraser Valley’s Detached Markets increased values this month. Single Family Homes had a $2,239 monthly price increase. Yes, both sales and inventory have dropped in the last month and the sell-through rates are falling enough to become a Buyer's Market. With that being said, we are not going to forecast the Markets this coming month, due to the Stock Market volatility and the Pandemic on hand.
Currently, Condos are in a Seller Market with 77% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $1,476. At the same time, the Townhouse Market increased $1,366 on average. That is 79% increased (22 out of 28 Markets). 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.