The Chilliwack and District real estate board recently relased this short article about the Chilliwack real estate market:
Last month proved to be the hottest real estate sales month Chilliwack has had in seven years. 286 houses of all varieties sold in Chilliwack and area in June, edging out the previous month’s impressive tally and far outpacing May 2013, which saw 215 sales.
“The second quarter is proving to be very strong,” said Jake Siemens, President of the Chilliwack and District Real Estate Board (CADREB). “On a year-to-year comparison, unit sales are up by just over 20%, and all indications are for the market to continue trending upward”.
Of the 286 sales last month, the highest number (43) were in the $300,000 - $349,999 range, followed by 31 sales in the $350,000 - $399,999 range and equaled by those in the $400,000 - $499,999 span. There were 23 sales over the $.5 million mark, and three over $1 million.
The average price of a home within Chilliwack and District Real Estate boundaries is $320,503, with Chilliwack proper at $303,302 and in Sardis, $348,779. The average number of days on market continues to fall due to supply and demand – single family homes are on the market an average of 44 days, and townhomes 49 days.
“While historically, home sales tend to take a dip in the summer due to family vacations and summer activities, we expect to see a strong local market continue, as the economic indicators look good,” said Mr. Siemens.
“With the increased competition, there are some excellent deals out there. It bears repeating – real estate is one of the soundest investments a person will make in his/her lifetime, and the timing has seldom been better!”
-Sourse : Chilliwack and District Real Estate Board (CADREB).
As always if you have any questions about this article or any other real estate realted questions please feel free to contact us we would be happy to assist you. we can be reach either through this website or directly at 604-882-8384.
-Mitten Real Estate Team