Chilliwack (CADREB) – It’s another record breaking month for home sales in Chilliwack and area. According to the latest statistics from the Chilliwack and District Real Estate Board (CADREB), a whopping 421 homes sold last month, an all-time September record.
The reasons are continued low interest rates and surprisingly, COVID.
“REALTORS® are finding that many of their clients over recent months are from the more metropolitan Vancouver areas who are moving away from crowded areas and want a house with a yard, and easier access to outdoor activities such as hiking, kayaking and biking”, said CADREB President Kim Parley.
From the latest statistics, it’s evident that sales activity has increased in higher priced homes.
“We have maintained steady prices due to low inventory, which is very attractive to those whose housing dollars go further by moving to the Eastern Fraser Valley”.
Of the 421 sales last month, the highest number sold (50) were in the $600,000 – $649,999 range, followed by 42 sales in the $450,000 – $499,999 price range. Sales were strong in the $650,000 – $699,999 and $700,000 – $799,999 ranges, both posting 32 sales. There were 26 sales over the $1 million dollar mark, including two over $2 million.
Sales were strong in all categories, but a noticeable jump was in houses with acreage, posting 16 sales last month, over six in the same month last year. The total value of the 421 sales reached over $250 million, injecting much needed spinoff dollars into the local economy.