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Mission Condominium Market Update April 2024

Home » Market Updates » Mission Condominium Market Update April 2024

The Fraser Valley Real Estate Board recently published the MLS® statistics for the Mission real estate market, among others, for April 2024.

In this post, we’re going to take a close look at key numbers for the Mission condominium market for April 2024 – 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.

We are seeing a relatively calm and balanced market right now. Which means buyers have time to shop around and purchase a home without the pressure of a few years ago, and while prices are holding fairly steady across all property types.

Jeff Chadha – President, Fraser Valley Real Estate Board

And we're going to look at how the Mission MLS® numbers for April 2024 compare with the numbers for April 2023 and for March 2024.

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 2024.

  • 8 Sales
  • 24 New Listings
  • 37 Active listings
  • $454,200 Benchmark Price
  • $392,450 Median Price
  • $395,663 Average Price

The sales-to-active-listings ratio netted out a market absorption rate of 21.62%, indicating that it was a Seller's Market for condominiums in Mission in April 2024 (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 2024:

  • There were 8 condominium sales in Mission in April 2024 – an increase of 33.33% over April 2023 and a decrease of -20.00% over March 2024
  • There were 24 new listings of condominiums in Mission in April 2024 – an increase of 33.33% over April 2023 and an increase of 9.09% over March 2024
  • The average price of a condominium in Mission in April 2024 was $395,663 – a decrease of -19.49% over April 2023 and a decrease of -19.97% over March 2024

If you're really keen to understand what happened in the market for condominium in Mission in April 2024, 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 2024 and see how it compares with the previous year and previous month.

Mission Condominium Stats

Metric Apr 2024 Apr 2023 % Change Mar 2024 % Change
Sales 8 6 33.33% 10 -20.00%
New Listings 24 18 33.33% 22 9.09%
Active Listings 37 39 -5.13% 33 12.12%
Benchmark Price $454,200 $434,700 4.49% $453,400 0.18%
Median Price $392,450 $434,950 -9.77% $495,000 -20.72%
Average Price $395,663 $491,466 -19.49% $494,410 -19.97%

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.

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