Just 81 Mission homes traded hands in August

Just 81 Mission homes traded hands in August

Mission house sales slowed in August, down almost 15 per cent from July

August 2016 sales figures were still 39.7 per cent higher than numbers from the same month last year.

  • Sep. 3, 2016 6:00 p.m.

The Mission housing market continued to moderate in August, with sales of single-family houses down from the previous month.

Just 81 houses traded hands in August, down 14.7 per cent from July, according to the Fraser Valley Real Estate Board (FVREB).

The summer frequently sees fewer sales, and August 2016 figures were still 39.7 per cent above numbers from the same month last year.

Prices also seem to be plateauing. While the price of a “typical” single-family home in Mission rose another 1.2 per cent in August, to $550,400, the median price – the point at which half of all homes sold are more expensive and half are less expensive – actually declined by nearly three per cent, coming in at $535,000.

Year-over-year, the price of a typical house – known as the benchmark price – has risen 38 per cent to $550,400. Twelve months ago, the benchmark was at $398,100.

The prices of townhomes saw a similar shift in August, although the number of sales and new listings both rose over the last month.

The benchmark price of Mission townhomes has risen 38 per cent over the last year, from $222,600 in August of 2015 to $307,200 in August of 2016.

Apartments sales and listings were largely unchanged.

The benchmark price of an apartment is now $206,200, up 25 per cent from $164,900 in August of 2015.

“The numbers here aren’t alarming; they’re expected, and what we’re used to seeing around this time,” FVREB president Charles Wiebe said in a press release. “Homebuyers should be encouraged that sales have slowed, giving inventory a chance to build back up and competition within the market to cool down.

“With sales activity moderating to more normal levels, we’re beginning to see prices follow-suit, and even drop for certain housing types in some of our communities.”

Just Posted

Harrison Hot Springs country singer Todd Richard poses for a photo with Mission firefighters. (Photo/Sarah Plawutski)
VIDEO: Harrison country artist Todd Richard plans for a busy, rockin’ summer

Richard and his band look to live shows as restrictions start to lift

The theme for this year’s Fraser Valley Regional Library Summer Reading Club is “Crack the Case” and Katie Burns, community librarian at the Chilliwack Library, is encouraging people of all ages to sign up. She is seen here at the Chilliwack Library on Friday, June 18, 2021. (Jenna Hauck/ Chilliwack Progress)
Crack the case, read, win prizes with FVRL Summer Reading Club

‘Immerse yourself in other worlds and have a bit of fun while you do it,’ says Chilliwack librarian

Police tape is shown in Toronto Tuesday, May 2, 2017. Statistics Canada says the country's crime rate ticked up again in 2018, for a fourth year in a row, though it was still lower than it was a decade ago. THE CANADIAN PRESS/Graeme Roy
CRIME STOPPERS: ‘Most wanted’ for the week of June 20

Crime Stoppers’ weekly list based on information provided by police investigators

Cpl. Scott MacLeod and Police Service Dog Jago. Jago was killed in the line of duty on Thursday, June 17. (RCMP)
Abbotsford police, RCMP grieve 4-year-old service dog killed in line of duty

Jago killed by armed suspect during ‘high-risk’ incident in Alberta

Kalyn Head, seen here on June 4, 2021, will be running 100 kilometres for her “birthday marathon” fundraiser on July 23. (Jenna Hauck/ Chilliwack Progress)
Woman’s 100-km birthday marathon from Chilliwack to Abbotsford will benefit Special Olympics B.C.

Kalyn Head hopes run raises awareness, advocates for inclusion of people with intellectual disabilities

Marco Mendicino, Minister of Immigration, Refugees and Citizenship during a press conference in Ottawa on Thursday, May 13, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Canada to welcome 45,000 refugees this year, says immigration minister

Canada plans to increase persons admitted from 23,500 to 45,000 and expedite permanent residency applications

FILE – Most lanes remain closed at the Peace Arch border crossing into the U.S. from Canada, where the shared border has been closed for nonessential travel in an effort to prevent the spread of the coronavirus, Thursday, May 7, 2020, in Blaine, Wash. The restrictions at the border took effect March 21, while allowing trade and other travel deemed essential to continue. (AP Photo/Elaine Thompson)
Feds to issue update on border measures for fully vaccinated Canadians, permanent residents

Border with U.S. to remain closed to most until at least July 21

A portion of the George Road wildfire burns near Lytton, B.C. in this Friday, June 18, 2021 handout photo. THE CANADIAN PRESS/HO, BC Wildfire Service *MANDATORY CREDIT*
Blaze near Lytton spread across steep terrain, says BC Wildfire Service

Fire began Wednesday and is suspected to be human-caused, but remains under investigation

(Black Press Media files)
Burnaby RCMP look for witnesses in hit-and-run that left motorcyclist dead

Investigators believe that the suspect vehicle rear-ended the motorcycle before fleeing the scene

Blair Lebsack, owner of RGE RD restaurant, poses for a portrait in the dining room, in Edmonton, Friday, June 18, 2021. Canadian restaurants are having to find ways to deal with the rising cost of food. THE CANADIAN PRESS/Jason Franson
Canadian restaurateurs grapple with rising food costs, menu prices expected to rise

Restaurants are a low margin industry, so there’s not a lot of room to work in additional costs

RCMP crest. (Black Press Media files)
Fort St. John man arrested after allegedly inviting sexual touching from children

Two children reported the incident to a trusted adult right away

A police pursuit involving Abbotsford Police ended in Langley Saturday night, June 20. (Black Press Media file)
Abbotsford Police pursuit ends in Langley with guns drawn

One person arrested, witnesses say an officer may have been hurt in collision with suspect vehicle

(file)
Pedestrian hit by police vehicle in Langley

Injuries described as serious, requiring surgery

Barbara Violo, pharmacist and owner of The Junction Chemist Pharmacy, draws up a dose behind vials of both Pfizer-BioNTech and Oxford-AstraZeneca COVID-19 vaccines on the counter, in Toronto, Friday, June 18, 2021. An independent vaccine tracker website founded by a University of Saskatchewan student says just over 20 per cent of eligible Canadians — those 12 years old and above — are now fully vaccinated. THE CANADIAN PRESS/Nathan Denette
At least 20% of eligible Canadians fully vaccinated, 75% with one dose: data

Earlier projections for reopening at this milestone didn’t include Delta variant

Most Read