Chilliwack (CADREB) – Chilliwack and District Real Estate Board MLS® home sales decline to lowest July level in more than 20 years as interest rates continue to rise.
The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 132 units in July 2022. This was a sharp decrease of 57.3% from July 2021.
Home sales were 49% below the five-year average and 52.4% below the 10-year average for the month of July.
On a year-to-date basis, home sales totaled 1,871 units over the first seven months of the year. This was down sharply by 41.8% from the same period in 2021.
The average price of homes sold in July 2022 was $756,179, an increase of 4.6% from July 2021.