Chilliwck (CADREB) – The number of homes sold through the MLS® System of the Chilliwack and District Real Estate Board totaled 120 units in January 2023. This was a substantial reduction of 50.4% from January 2022.
Home sales were 37.2% below the five-year average and 31.1% below the 10-year average for the month of January.
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 $677,600 in January 2023, down sharply by 21.9% compared to January 2022.
The benchmark price for single-family homes was $820,100, a substantial decrease of 23.8% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $555,800, a big reduction of 16.9% compared to a year earlier, while the benchmark apartment price was $369,000, falling by 6.4% from year-ago levels.
