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Current: Mission is a Stable Market with Average Listing inventories, a 11 %SOLD Rate and Sell Price/List Price = 96%
(Meaning there is an Average of a $37,000 decrease on a Sale from the List price)
Most Active Range: Homes between $975,000 - $1,100,000 have 21.4 %SOLD Rate
Least Active Range: Homes above $2.0 mill. have 3.0 %SOLD Rate.
History: The Mission Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $404,942.
The Mission Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $260,162.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: Mission has average Listing supply; 209 homes are for sale and with the 11%SOLD Monthly Rate gives us a ~9 months of inventory. Another indicator: 4% of the Active Listings have Reduced their Price by $68,000 on Average and $50,000 on Median for the last month. We project Mission Detached to be a Stable market.
Greater Vancouver February 2023:
The Greater Vancouver Real Estate Market shows that 57% of the Detached Homes in February is increasing in price. The average price values increased by $4,653. That's is a reversal from the -($6,340) drop in January and the 1st increase we've seen since April last year. We are forecasting that the majority of the Metro Vancouver Markets will stabilize this March. With one year of pent-up buyers we should see price increases in March.
Currently, the Condo Markets and Townhouse Markets have switched to a Seller's Market, with the Average Price increases of $5,114 and $114 respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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.
Fraser Valley February 2023:
In February, 56% of Fraser Valley Real Estate Detached Market prices decreased by just ($1,739) on average. That is a significant improvement from the -($14,803) drop in January. We are forecasting that the majority of the Fraser Valley Market will stabilize in late March / earlier April.
Currently, the Condo Markets and Townhouse Markets have switched to a Seller's Market, with the Average Price increases of $3,732 and $588 respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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.
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