Monday, February 15, 2010

Median Listing Prices in Chilliwack and the Fraser Valley Real Estate Board Area


Median Listing Prices - February 15,2010
Chilliwack Real Estate Median Prices


Month/DayHouse Inventory25th PercentileMedian75th Percentile
02/15/2010732$289,000$369,900$489,900
01/18/2010634$279,900$369,900$499,000

These prices are "asking prices" of course and the services of an experienced and knowledgeable real estate agent can often negotiate to a more favourable acquisition price. Hey, that sounds like me.
What the numbers in the above table tell us is that the asking price of the property right in the middle of the 732 single family detached houses available on the multiple listing service of the Chilliwack and District Real Estate Board is $369,900 and that 50% of the properties have asking prices that fall between $289,000 and $489,900. These numbers give purchasers and sellers a little better idea about affordability and respective competitiveness in the Chilliwack real estate area.
How does the median price of real estate offerings in Abbotsford to Delta area compare to the Chilliwack real estate area? As in Chilliwack there has been a sizable increase in inventory since January swelling from 3413 to 4055 houses for sale as of this date. The median in the Fraser Valley area however has decreased somewhat but there still is an $180,000 advantage to living in the Chilliwack area compared to the Fraser Valley west of Chilliwack.
Fraser Valley (West of Chilliwack)Real Estate Median Prices

Month/DayHouse Inventory25th PercentileMedian75th Percentile
02/15/20104055$449,000$549,500$759,000
01/18/20103413$439,900$565,000$745,000


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. The Fraser Valley West area embraces the entire Fraser Valley Real Estate Board area which extends from Abbotsford to Delta.


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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.

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