The Fraser Valley Real Estate Board recently published the MLS® statistics for the Mission real estate market, among others, for January 2021.
In this post, we’re going to take a close look at key numbers for the Mission condominium market for January 2021 – 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 very motivated right now. Lending rates are the lowest they've ever been, your housing dollar goes further in the Fraser Valley and we've seen a societal shift in the last year in how people value their homes. People are asking us to find them more space.
Chris Shields - President of the Fraser Valley Real Estate Board – President, Fraser Valley Real Estate Board
And we're going to look at how the Mission MLS® numbers for January 2021 compare with the numbers for January 2020 and for December 2020 .
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 January 2021.
- 7 Sales
- 8 New Listings
- 8 Active listings
- $377,700 Benchmark Price
- $322,000 Median Price
- $370,071 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 87.50%, indicating that it was a Seller's Market for condominiums in Mission in January 2021 (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 January 2021:
- There were 7 condominium sales in Mission in January 2021 – an increase of 75.00% over January 2020 and an increase of 40.00% over December 2020
- There were 8 new listings of condominiums in Mission in January 2021 – an increase of 33.33% over January 2020 and an increase of 60.00% over December 2020
- The average price of a condominium in Mission in January 2021 was $370,071 – an increase of 20.15% over January 2020 and an increase of 28.28% over December 2020
If you're really keen to understand what happened in the market for condominium in Mission in January 2021, 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 January 2021 and see how it compares with the previous year and previous month.
Mission Condominium Stats
| Metric | Jan 2021 | Jan 2020 | % Change | Dec 2020 | % Change |
|---|---|---|---|---|---|
| Sales | 7 | 4 | 75.00% | 5 | 40.00% |
| New Listings | 8 | 6 | 33.33% | 5 | 60.00% |
| Active Listings | 8 | 9 | -11.11% | 8 | 0.00% |
| Benchmark Price | $377,700 | $345,400 | 9.35% | $359,700 | 5.00% |
| Median Price | $322,000 | $301,000 | 6.98% | $345,000 | -6.67% |
| Average Price | $370,071 | $308,000 | 20.15% | $288,480 | 28.28% |
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.