The Fraser Valley Real Estate Board recently published the MLS® statistics for the Mission real estate market, among others, for November 2023.
In this post, we’re going to take a close look at key numbers for the Mission condominium market for November 2023 – including sales, new listings, active listings, as well as benchmark, median and average prices for condominiums for sale in Mission.
We're also going to see what kind of shape the condominium market in Mission was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.
As we head into the holiday season, buyers and sellers are busy with other priorities and will most likely continue to wait on the sidelines. We anticipate this holding pattern, defined by slow sales and declining new listings, will continue through the winter months until we see some downward movement in interest rates.
Narinder Bains – President, Fraser Valley Real Estate Board
And we're going to look at how the Mission MLS® numbers for November 2023 compare with the numbers for November 2022 and for October 2023.
Highlights of FVREB MLS® Data on Mission Condominium Listings and Sales
Here's a high-level snapshot of listing and sales activity for Mission condominiums in November 2023.
- 3 Sales
- 28 New Listings
- 41 Active listings
- $452,300 Benchmark Price
- $399,999 Median Price
- $458,333 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 7.32%, indicating that it was a Buyer's Market for condominiums in Mission in November 2023 (click on the link learn more about local housing market ratios on the BC Real Estate Association blog).
Please note: If you want the most accurate and up-to-date data on Mission MLS® listing and sales activity for condominiums, you need to speak with a real estate agent.
Mission Condominium Market Changes
Following are some of the highlights for condominiums for sale in Mission in November 2023:
- There were 3 condominium sales in Mission in November 2023 – an increase of Error while parsing the evaluate expression over November 2022 and 0.00% over October 2023
- There were 28 new listings of condominiums in Mission in November 2023 – an increase of 300.00% over November 2022 and an increase of 250.00% over October 2023
- The average price of a condominium in Mission in November 2023 was $458,333 – an increase of Error while parsing the evaluate expression over November 2022 and an increase of 30.83% over October 2023
If you're really keen to understand what happened in the market for condominium in Mission in November 2023, make sure you check out the next section.
Detailed Overview of the Market for Condominiums in Mission
Check out the table below for more detailed information on what happened in the Mission condominium market in November 2023 and see how it compares with the previous year and previous month.
Mission Condominium Stats
| Metric | Nov 2023 | Nov 2022 | % Change | Oct 2023 | % Change |
|---|---|---|---|---|---|
| Sales | 3 | - | Error while parsing the evaluate expression | 3 | 0.00% |
| New Listings | 28 | 7 | 300.00% | 8 | 250.00% |
| Active Listings | 41 | 32 | 28.13% | 31 | 32.26% |
| Benchmark Price | $452,300 | $448,100 | 0.94% | $452,800 | -0.11% |
| Median Price | $399,999 | $0 | Error while parsing the evaluate expression | $348,000 | 14.94% |
| Average Price | $458,333 | – | Error while parsing the evaluate expression | $350,333 | 30.83% |
Disclaimer
All of the data for the monthly real estate market updates are taken directly from the MLS® statistics packages that the Fraser Valley Real Estate Board publishes every month.
Although rare, errors and omissions may happen from time to time. If you want to be absolutely certain the you have the most accurate data, we encourage you to click on the link to the latest MLS® statistics for the Mission real estate market.
Or, better still, speak directly with a real estate agent who specializes in Mission condominiums who will be able to provide you with the most accurate, up to the minute information on – and insights into – the Mission real estate market.