Chilliwack/Lytton – Chilliwack and District Real Estate Board MLS® home sales remain at one of best August levels on record
The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 346 units in August 2021. This was a substantial decline of 13.1% from August 2020.
Home sales were 13% above the five-year average and 26.7% above the 10-year average for the month of August.
On a year-to-date basis, home sales totaled a record 3,571 units over the first eight months of the year. This was a significant increase of 75.4% from the same period in 2020.
“Home sales might have been down from last year’s exceptional record but still came in just two sales shy of tying for the third best August ever,” said Andrew Verschuur, President of the Chilliwack and District Real Estate Board. “New listings declined by substantially more than sales, which means that overall supply levels are still heading downward to new record lows. With fewer properties on the market to choose from than ever before, it’s no surprise that market tightness is keeping price gains for single family homes north of 30% year-over-year and above 25% for townhomes and apartments.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $719,700 in August 2021, a substantial increase of 31.3% compared to August 2020.
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The Chilliwack and District Real Estate Board is an association of 365 REALTORS® that provides services to and sets standards for members. The Chilliwack and District Real Estate Board serves Chilliwack, Agassiz, Hope, Boston Bar and Harrison.
