Saturday, July 4, 2009

Chilliwack Real Estate Market Summary - June 2009

June 2009 showed a continued strengthening in the sale of detached (stand alone) houses with a total of 166 sales in the month as compared to 155 sales in June a year ago, making this the second month in a row where sale numbers have exceeded 2008 totals. Average prices for homes $335,000 are about 7% lower than those of 2008 and with favourable mortgage interest rates there has been a lot of activity in the entry level of housing as buyers take advantage of this win-win situation.

This market for houses, if you want to think of it as being either a Buyer's Market, Balanced Market or Seller's Market, is presently at the lower end of a Balaned Market with about 18% of house listings selling in the month. My expectation is that July will remain in Balance as well.

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