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Mission, British Columbia Real Estate Market Data

Updated: Nov 2024

House

Median price $600,000
Monthly growth 1.1%
Quarterly trend 4.0%
Stock on market 0.6%

Apartment

Median price $350,000
Monthly growth 0.8%
Quarterly trend 2.5%
Stock on market 1.0%

Prices by Number of Bedrooms

Houses

Bedrooms Median Price
2 bedrooms $500,000
3 bedrooms $600,000
4 bedrooms $700,000

Apartments

Bedrooms Median Price
1 bedrooms $300,000
2 bedrooms $400,000
3 bedrooms $500,000

Demographics

Current Population (2025) 17,000
Previous Population (2020) 16,000
Population Change 6.3%
Total Private Dwellings 7,000
Occupied Private Dwellings 6,500
Population Density (per km²) 1.7
Land Area (km²) 2,500.5

Market Analysis





Mission, British Columbia Real Estate Market Analysis

Current Market Conditions and Trends in Mission, BC

The real estate market in Mission, British Columbia is currently experiencing steady growth. The median house price stands at $600,000, marking a year-over-year increase of 4%. This suggests a healthy demand for single-family homes in the area, influenced by both local buyers and those seeking alternatives to the higher-priced markets in nearby Vancouver.

Apartment properties are also seeing growth, albeit at a slightly slower pace. With a median price of $350,000 and an annual appreciation of 2.5%, apartments represent an accessible entry point into the property market for first-time homebuyers or investors looking to diversify their portfolio with smaller residential units.

Mission’s population has grown by 6.25% to approximately 17,000 residents. This increase is significant and likely contributes to the sustained demand for housing in the region.

Investment Opportunities and Potential in Mission, BC

The positive trends in housing prices coupled with robust population growth suggest that Mission offers promising investment opportunities. The consistent rise in median house prices indicates potential for capital gains for investors who purchase residential properties now. Moreover, as the community expands and attracts more residents, rental properties may offer stable yields for those looking to generate passive income.

The slower growth rate in apartment prices compared to houses could signal an opportunity for investors to enter the market at a more affordable level before potential appreciation accelerates. Additionally, as more people move to Mission, demand for diverse housing options is likely to increase, possibly driving up apartment values and rental rates over time.

Future Market Outlook for Mission, BC

The future real estate market outlook for Mission appears optimistic. The ongoing population growth will likely continue to fuel demand for housing across all sectors. If current trends persist, property values may see further increases across both houses and apartments.

However, it’s important to monitor external factors such as interest rates, employment levels in the broader Vancouver area, and national economic indicators that could affect buyer sentiment and affordability. Given Mission’s proximity to major urban centers and its more affordable housing options compared to those centers, it is well-positioned to benefit from spillover effects as buyers look beyond city limits for value.

In conclusion, while careful consideration of market forces is always advisable when investing in real estate, Mission’s current trajectory points towards continued growth and offers attractive prospects for both short-term investors and long-term homeowners alike.