Saturday, July 11, 2009
Chilliwack Real Estate Market – The Townhouse and Apartment Markets “Unreal Real Estate”
The Chilliwack Strata market which includes townhouses and apartments continues to struggle and it is here that the best deals are to be found by buyers. These properties tend to be very reasonably priced, in fact, the June average sale price hovered around $219,000 being based on an average offering price of $225,500.
The June sale average price represents a value 9% lower than that of a year ago. Last month there were 83 sales reported by the Chilliwack and District Real Estate Board (CADREB) with townhouses outselling apartments by a ratio of 3 to 1.
At the time of writing there are 548 properties for sale in the Chilliwack Board area and more to be found in developer marketed sites.
Weak apartment sales are forcing some developer marketed sites to fire sale some of their inventory making this is a great time to be an investor. Just this week I received marketing offering to sell near new 1 bedroom apartments starting at $89,900 and 2 bedroom apartments starting at $129,900.
Unreal - real estate.
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I am of course also a working real estate agent and ready to help your sale or purchase of real estate.