Current: Mission is a Stable Market with normal listing inventories, 11 %SOLD rate and Sale Price /List Price = 97%
(e.g.: means an average of a $13,500 Discount from the original list price on sale .)
Most Active Range: Homes between $675,00 - $800,000 have 17.6 %SOLD rate.
Least Active Range:: Homes above $800,000 have 5.3 %SOLD rate.
History: The Mission Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $12,067.
The Mission Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $23,548.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Mission has average Listing Supply; 255 homes are for sale and with the 11 %SOLD monthly rate gives us a ~9 months of inventory. Another indicator: 11% of the Active Listings have Reduced their Price by $21,979 on Average and $11,000 on Median for the last month. We project Mission Detached to be a Stable market.
June's Real Estate Statistics still shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $4,262 which is almost the same price increase we saw last March. On the other hand, Fraser Valley Single Family Homes had a $2,625 monthly price increase. We saw a 50% increase in sales last month and a significant increase in new listings. Thus, we are forecasting that the Markets will start to stabilize this coming month.
Currently, Condos are in a Seller Market with 57% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $323. At the same time, the Townhouse Markets increased $1,529. That is 75% increased (21 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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.