People working in Vancouver find relatively affordable homes outside the city.
One place is Mission, which is at the eastern end of the West Coast Express, a weekday commuter rail service.
Although detached homes in Mission don’t cost as much as in most towns, these properties now go for almost $1 million each.
A report by the Fraser Valley Real Estate Board indicates that the benchmark price of a single-family home in Mission increased to $999,100 in October 2021.
In the same month last year, a detached home in the city cost $726,000.
This means that the benchmark price rose 37.6 percent in a year’s time.
At $999,100, detached homes in Mission are the most affordable compared to other markets served by the FVREB.
The board covers Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.
In a report Tuesday (November 2), the FVREB indicated that realtors in the region sold 699 detached homes in October 2021.
The benchmark price of a detached home in the Fraser Valley increased to $1,396,700 last month.
This marks a 33 percent increase compared to the $ 1,046,900 price in October 2020.
The most expensive detached homes are found in South Surrey and White Rock, where the benchmark price was $1,767,200.