Monday, November 16, 2009

CHILLIWACK HOUSE SALES Mid-Month November 1-15, 2009

Harrison Lake with Echo Island

Chilliwack Housing Market remains steady

Sale numbers of Chilliwack single family detached houses in the first 15 days of November are looking relatively good. Of course, if you want to compare them to the first 15 days in November 2008 they would be fantastic. In the November 1-15th period of 2008 there were a mere 18 single family detached sales in all of the Chilliwack and District Real Estate Board this year there are 63. That 63 figure is a respectable number, even 2 more than the first two weeks of October 2009.  It is a good sign that the Chilliwack market is continuing to strengthen.

Fraser Valley West Housing Market weakens

The Fraser Valley real estate market (Abbotsford to Delta) has been hot in recent months but a quick look at the numbers for this month shows that it may be slowing down to its seasonal pattern with fewer sales taking place in the fall and winter months. They show 389 sales of single family detached houses for the first two weeks of this month compared to 477 for the first two weeks of October the month before. A decline of about 19%, still plenty of month is left we will have to see if this pattern holds.

The Statistics – November 1-15, 2009

Buyer’s market 15% sales to listing ratio

Number of Houses Sold first 15 days November 2009: 63

Number of Houses Sold first 15 days of October 2009: 61

Average Sale Price Previous Month- October: $348,000

Average List to Average Sale Price ratio: 97 percent

Average Number of Days on Market: 64 days

Houses available for sale October 15th: 806

The best advantage for a buyer or seller is the expertise and knowledge of a real estate agent who is active and works the neighbourhood you are interested in.

The analysis above is based on my interpretation of information provided by the Chilliwack and District Real Estate Board and does not take into account private sales. The term "Chilliwack" is used here quite loosely to refer to an area serviced by the Chilliwack and District Real Estate Board which includes communities such as Chilliwack, Agassiz, Harrison Hot Springs, Hope, Yale and Boston Bar.

Stephen Mullock is a Chilliwack real estate associate broker with 29 years of experience. He can be reached at Royal LePage Wheeler Cheam Realty, telephone 604-792-0077.

Copyright November 16, 2009 by Stephen Mullock.

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