Chilliwack* SINGLE FAMILY HOMES - October 2012
October was a good month for the sale of single family detached housing in the
Chilliwack* real estate market our analysis shows. With a list to sale ratio of 12% October was one of the strongest month that Chilliwack* has seen this year. Now, the market is still below what might be considered as being a balanced market between sellers and buyers but it is far better that September or August. As mentioned in an earlier post, Federal mortgage restrictions had a lot to do with the downturn in the local housing market but these effects have now been adjusted for in the Chilliwack* real estate market.
 |
An Autumn Moment in Chilliwack © Stephen Mullock |
There were 117 sales of single family homes in the month of October up from 95 in September.
The value of these homes varied from a high of $1,100,000 to a low of $13,500.
The average price of housing is $353,000 very similar to prices of a year ago. The median selling price was $329,500 similar to the value of September 2012.
It is expected that the fall and winter Chilliwack* real estate
markets will see a normal seasonal slowing. A competitive advantage for Buyers
is present given a healthy inventory of 918 Chilliwack single family homes
available on November 1, 2012. It is expected that inventory levels will decline
as owners elect to take properties off the market until spring.
Please
remember to use the services of a
REIBC real estate
professional or a Realtor© to maximize your chances for a successful
purchase or sale. Give me a call if you are looking for professional service in the
Chilliwack, Agassiz, Kent or Harrison Hot Springs areas.
Sales |
Average Sale Price |
/ Days on Market |
/ Active Listings |
Oct 2012 |
117 |
$353,000 |
88 |
918 |
Sep 2012 |
95 |
$368,000 |
87 |
1017 |
Oct 2011 |
95 |
$357,000 |
87 |
n/a |
|
|
|
|
Median SALE Price of
Chilliwack* Single Family Detached Homes (SFD)
- October 2012 - $329,500
- September 2012 - $326,500
- August 2012 - $309,500
- 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 :
- November 1, 2012 $369,500
- October 2, 2012 $369,900
- September 3, 2012 $369,900
- 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
Month |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
July |
Aug |
Sept |
Oct |
Nov |
Dec |
2012 |
81% |
67% |
77% |
77% |
83% |
70% |
88% |
54% |
70% |
88% |
|
|
2011 |
85% |
91% |
75% |
70% |
68% |
93% |
74% |
86% |
86% |
70% |
86% |
92% |
Chilliwack* STRATA HOMES for October 2012
The sale of Chilliwack*
Strata Homes, apartments, townhouses performed somewhat weaker than the more
expensive Chilliwack* single family home market with 51 sales in the month
of October compared to a 10-year average of 67 for the month. The monthly
average price took a swing upward and likely reflects newer projects selling well in this month, but, in general average prices have a tendency to oscillate somewhat. It is still critical for sellers of townhouses and apartments in the Chilliwack* area to price competitively as a list to sale ratio is less than 1 in 10.
The sale of townhouses and
apartments in the Chilliwack* real estate market remains very competitive with
the advantage given to the Buyer. Sellers should pay attention to their
Realtor® recommendations and ask for market comparison updates on an bi-monthly
basis.
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.
MONTH |
Sales |
Average Sale Price |
Days on Market |
Active Listings |
|
Oct 2012 |
51 |
$234,000 |
89 |
531 |
Sep 2012 |
56 |
$198,000 |
86 |
547 |
Oct 2011 |
64 |
$204,000 |
66 |
n/a |
Median Sale Price of Chilliwack*
Strata Homes:
- October 2012 - $239,500
- September 2012 - $199,000
- August 2012 - $232,500
- 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:
- November 1, 2012 - $209,900
- October 2, 2012 - $189,900
- September 3, 2012 - $209,900
- 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
Month |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
July |
Aug |
Sept |
Oct |
Nov |
Dec |
2012 |
93% |
78% |
96% |
70% |
87% |
85% |
97% |
67% |
89% |
76% |
|
|
2011 |
100% |
105% |
|
85% |
86% |
84% |
66% |
|
66% |
|
|
91% |
Imagine living here ....then call
Steve.
The analysis is based on my sole
interpretation of multiple listing information gleaned from the Chilliwack and
District Real Estate Board, the Fraser Valley Real Estate Board and the Greater
Vancouver Real Estate Board it does not take into account private sales. It is
up to you to decide on the validity of these results and if necessary seek
further information.
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.