Chilliwack, BC – Buyers are continuing to snap up local listings, but a lack of housing for sale is puzzling REALTORS®
Housing sales in Chilliwack and area remained brisk last month – a total of 243 properties sold, compared to 169 in November of 2014. Total dollar value reached $87 million dollars, compared to $51 million for the same month last year.
“Total unit sales year-over-year are up 44.6%,” said Chilliwack and District Real Estate Board (CADREB) President, Travis Heppner. “But, listings are down 46.3%”.
At the end of November, there were 1,034 active listings on the local market, down more than 400 at the same time last year. As pricing is driven by supply and demand, the lack of houses on the market is driving the prices up.
“The median sale price for Chilliwack and District has risen 14%, comparing yearly statistics,” added Mr. Heppner. “Home prices will likely continue to inch up, as buyers continue to be attracted to our area but inventory remains low.”
Of the 243 sales last month, the highest number (41) were in the $400,000 – $499,000 range, followed by 36 sales priced between $300,000 – $349,000. Townhome sales led the way in sales, with vacant land also showing a dramatic increase.
It’s not too late in the season to list your home – even with the countdown to Christmas, viewing activity is still strong.
The 277 REALTORS® of CADREB wish everyone a wonderful holiday season. Many REALTOR® “elves” have been busy in the community making a difference to so many. Thousands of pounds of blankets and warm clothing have been collected for those in need through the Board’s annual Blanket Drive, various real estate offices have held food drives, and many volunteer members have hung Christmas lights for elderly and disabled people.
“REALTORS® are very involved in their communities,” added Mr. Heppner. “They are out and about in the course of their work, and they tend to get involved in many volunteer initiatives as a way of giving back.”
Also, be sure to check out the list of homes posted on the Board’s website at www.cadreb.com to get the addresses of some impressive Christmas light displays.