The July sales of single family detached houses in the Chilliwack* area rebounded after a disappointing June; up to 148 from 123 in the previous month. Better weather and the tail end of the 30 year amortization programs can be partly credited for this turn around.
|New Listing - 10481 Glasgow Street, Chilliwack (Click for more details)|
Average sale prices improved from $341,000 to $359,000 a surge explained by an unusual number of properties selling near or above the million dollars mark. Sales of this size, given a relatively small sample size (148), can often skew the average sale values. My experience and conversations with other Realtors suggests that most home prices remain flat. This notion is supported by A Median Sale Price of $344,000 in July, up from $343,500 in June and a stable Median listing price.
All in all, July was the best month we have seen this year reflecting a strength that would be 88% of a 10-year July average.
It remains a buyer's market with a 7-8 month supply of housing on the Chilliwack* single family detached housing market.
Please remember to use the services of a REIBC real estate professional or a Realtor© to maximize your chances for a successful sale. Give me a call if you are looking for professional service in the Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.
|Average Sale Price||Days on Market||Active Listings|
Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
- July 2012 - $344,000
- June 2012 - $343,500
- May 2012 - $328,500
- April 2012 - $327,500
- March 2012 - $340,500
- February 2012 - $332,500
Median LISTING Price of active (1093) Chilliwack* Single Family Detached Real Estate Homes :
- August 8, 2012 - $369,900
- July 1, 2012 - $369,900
- June 1, 2012 - $374,900
- May 1, 2012 - $368,500
- April 2, 2012 - $365,000
- March 2, 2012 - $369,900
2012 - 2011 Market Strength
Single Family House Monthly Unit Sales as % of a 10-Year Monthly Sales Average
Chilliwack* STRATA HOMES for July 2012
The July sales of Chilliwack* strata homes (apartments, townhouses) had a strong month result (74 sales) following a decent month in June (67 sales). Market strength in the sale of strata homes has been stronger the past three months when compared to the same period a year ago. This July numbers were very close to the July 10-year sale average for strata homes at 97%. Nice.
There is still a buyer's market for strata homes in general with over 7 months of supply.
|MONTH||Sales||Average Sale Price||Days on Market||Active Listings|
Median Sale Price of Chilliwack* Strata Homes:
- July 2012 - $219,000
- June 2012 - $224,500
- May 2012 - $230,000
- April - $230,500
- March - $210,500
- February - $204,000
Median Price of Active Chilliwack* Strata Real Estate Listings:
- August 8, 2012 - $209,900
- July 1, 2012 - $214,900
- June 1, 2012 - $220,000
- May 1, 2012 - $220,000
- April 2, 2012 - $218,900
- March 2, 2012 - $216,000
2012 - 2011 Strata Market Strength
Strata Home Monthly Unit Sales as % of a
10-Year Monthly Sales Average
Notes:This review and analysis looks at the residential markets in the Chilliwack* British Columbia area for the month of July 2011. It is divided into two sections: single family houses and strata homes (apartments and townhouses) and is based upon my armchair analysis work. Use it at your own discretion and risk.
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 RI is an award winning full-time real estate specialist with 30 years of experience and hundreds of sales. Thinking of buying or selling real estate in the Fraser Cheam communities of Chilliwack, Agassiz or Harrison Hot Springs? Contact Steve (click here) of Royal LePage Wheeler Cheam Realty for experience, local knowledge and friendly service you’ll be happy you did.