Chilliwack, BC – Home sales in Chilliwack and area continue to post records, as continued low interest rates and attractive prices are drawing new residents.
“Housing activity has taken off like a rocket since February,” confirmed Chilliwack and District Real Estate Board (CADREB) President, Travis Heppner.
A total of 277 sales were posted in September, up substantially from the 211 posted for the same month last year. Strong activity was evident in the sale of single family homes (158 sales) and townhomes (64 sales) while there were 29 sales of apartment/condos, 15 houses with acreage and 11 mobile homes. This totaled almost $98.5 million in sales!
“Buyers coming from points west are seeing more selection in single family homes in Chilliwack for more reasonable dollars, which places more demand on inventory. This has caused prices to inch up, as supply and demand governs home pricing”.
The largest number of sales last month by far (51 sales) were homes in the $400,000 – $499,999 range, followed by 29 sales from $350,000 – $399,999.
The low inventory trend continues, as there were 1,252 active listings on the market last month, down over 400 from September of 2014. In fact, while seasonally adjusted rates show an 8-year high in sales, it also marks a 6-year low in listings.
With BC’s economy doing well and mortgage rates at record lows, it is an optimum time to move up, or build.
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.
