Mission saw 46 detached home sales in June 2019, compared to 55 in May 2019 and 35 in June 2018. / John Morrow file photo

Mission’s June home sales up, compared to last year

Benchmark price for a single family detached home in Mission is $654,600

Last month’s property sales in the Fraser Valley were 29.3 per cent below the 10-year sales average for June and were the second lowest total for the month since the year 2000.

The number of new listings also decreased in June, coming in at 9.6 per cent below the 10-year average for the number of listings received during that month.

The Fraser Valley Real Estate Board processed 1,306 sales of all property types on its Multiple Listing Service in June, a 13.9 per cent decrease compared to sales in May 2019, and a 10.1 per cent decrease compared to the 1,452 sales in June of last year.

“The Fraser Valley market is still adjusting to the federal government’s new mortgage requirements and to the provincial government’s speculation and vacancy taxes,” said Darin Germyn, president of the FVREB.

“We’re seeing historically low levels for home purchases in our region, and yet at the same time we’re seeing some prospective sellers holding back on listing their homes; waiting to see what the market will do.”

Here’s how Mission compared to the Fraser valley overall.

Single Family Detached:

At $960,100, the benchmark price for a single family detached home in the Fraser Valley decreased 0.4 per cent compared to May 2019 and decreased 6.1 per cent compared to June 2018.

In Mission, the benchmark price for a single family detached home is $654,600 a decrease of 1.1 per cent compared to May 2019 and a decrease of 5.4 per cent compared to June 2018.

Mission saw 46 detached home sales in June 2019, compared to 55 in May 2019 and 35 in June 2018.

Townhomes:

At $525,200, the benchmark price for a townhome in the Fraser Valley increased 0.5 per cent compared to May 2019 and decreased 5.9 per cent compared to June 2018.

In Mission, the benchmark price for a townhome is $438,800 a decrease of 2.5 per cent over May 2019 and a decrease of 0.7 per cent compared to June 2018

There were 12 townhomes sold in Mission last month, compared to seven in May 2019 and eight in June 2018.

Apartments:

At $409,800, the benchmark price for apartments/condos in the Fraser Valley decreased 1.7 per cent compared to May 2019 and decreased 9.6 per cent compared to June 2018.

In Mission, the benchmark price for apartments/condos is $351,300 a decrease of 1.4 per cent compared to May 2019 and a decrease of 6.2 per cent compared to June 2018.

There were six apartment sales in Mission in June 2019, compared to four in May 2019 and seven in June 2018.

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