Chilliwack, BC – When it comes to real estate in Chilliwack, the Journey Eastward continues. Home buyers moving from Metro Vancouver towards the Valley and heading for the Wack.
Affordability and Lifestyle are now high on the minds of the Consumers from the west. Higher housing prices towards the greater Vancouver area are now making Chilliwack an affordable option for many.
Sales in our community continue to rise, now marking the 2nd highest level of sales for October in our history.
A 24% “Sales to Active” ratio show that we are solidly in a Sellers’ market, however new listings will be needed to maintain the current sales levels. New construction is on the rise but is lagging behind market demands and concerns on the availability of trades is looming.
Average Days on Market has dropped to 29 in both Chilliwack proper and the Sardis area a decrease of 23.7%
Unit Sales of Single Family Resale homes has increased by 21.7% over the same market last year.
The Median sale price for all areas covered by the Chilliwack and District Real Estate Board has gone up 5.1% and specifically Chilliwack by 7.9% and Sardis by 6.9% over last year at this time.
The Market going into autumn will prove to be one of the strongest on record. This along interest rates that are projected to remain at current levels at least for the next couple of quarters continue to indicate that BC’s economy is healthy.
The highest amount of sales has now moved into the $350,000 to $500,000 range number 88 out of the 288 sales for October.
If you are looking to buy or sell to take advantage of these optimum market conditions, contact any of the 274 experienced and knowledgeable REALTORS® of the Chilliwack and District Real Estate Board.
For more information and comment contact CADREB President Travis Heppner @ Cell-
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