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The Fraser Valley Real Estate Board recently published the MLS® statistics for the Mission real estate market, among others, for April 2023.

In this post, weโ€™re going to take a close look at key numbers for the Mission condominium market for April 2023 โ€“ 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.

Buyers are continuing to find opportunities in the Fraser Valley, even in the face of lower inventories. With prices remaining strong, we expect to see inventories increase over the coming months as sellers seek to capitalize on price growth after sitting out for so long.

Narinder Bains

And we're going to look at how the Mission MLS® numbers for April 2023 compare with the numbers for April 2022 and for March 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 April 2023.

  • 6 Sales
  • 18 New Listings
  • 39 Active listings
  • $432,500 Benchmark Price
  • $434,950 Median Price
  • $491,466 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 15.38%, indicating that it was a Balanced Market for condominiums in Mission in April 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 April 2023:

  • There were 6 condominium sales in Mission in April 2023 – a decrease of -33.33% over April 2022 and an increase of 100.00% over March 2023
  • There were 18 new listings of condominiums in Mission in April 2023 – an increase of 5.88% over April 2022 and an increase of 80.00% over March 2023
  • The average price of a condominium in Mission in April 2023 was $491,466 – a decrease of -1.56% over April 2022 and an increase of 0.85% over March 2023

If you're really keen to understand what happened in the market for condominium in Mission in April 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 April 2023 and see how it compares with the previous year and previous month.

Mission Condominium Stats

Metric Apr 2023 Apr 2022 % Change Mar 2023 % Change
Sales 6 9 -33.33% 3 100.00%
New Listings 18 17 5.88% 10 80.00%
Active Listings 39 19 105.26% 34 14.71%
Benchmark Price $432,500 $474,000 -8.76% $418,100 3.44%
Median Price $434,950 $475,000 -8.43% $420,000 3.56%
Average Price $491,466 $499,244 -1.56% $487,333 0.85%

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 โ€“ and insights into โ€“ the Mission real estate market.

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