Fraser Valley housing market activity increases as buyers and sellers adapt to the new environment, we are currently living in. Although there was a 47% decrease in the number of MLS listings in May compared to last year, this is still an encouraging sign for Real Estate as it’s one of the most important economic drivers in BC’s economy.
In Mission, benchmark prices have begun to slowly increase compared to last month. Although the increase is minimal; Detached Homes are up 1.6%, Townhouses are up 1.7% and Apartments are up 1.8%.
– Detached Home Sales for May 2020 compared to April 2020 – Decrease of 21.4%
– Townhome Sales for May 2020 compared to April 2020 – Increase of 33%
– Apartment Sales for May 2020 compared to April 2020 – Increase of 50%
As we begin to bounce back, I have helped my clients adjust to the new safety measures required to buy and sell homes during this pandemic. It’s not easy to adapt to physical distancing, online tools, and strict safety protocols. We all deserve to be congratulated on our efforts to end the COVID-19 pandemic.
For the full statistics package, please click the link below.
http://fvreb.bc.ca/statistics/Package202005.pdf
