Monday, April 1, 2013

Chilliwack* Real Estate Market Conditions and Sales Analysis - March 2013

The Chilliwack* March 2013 real estate market had 95 sales of single family detached houses in the
the Chilliwack* real estate board area (CADREB) which includes the outlying communities of Agassiz, Harrison Hot Springs, Hope and parts of the Fraser Cascade Regional District. This was up from the February total of 78 sales but still unremarkable when compared to a 10- year average for the month of March. 
 
A ten-year average for the month of March would suggest that the Chilliwack* single family detached housing market should get about 158 sales.  We are looking at a continued softening of the market, February operated at about 68% of its 10-year average and now March is at 60%.  On the bright side, the weather has improved from March's rainy ways to brilliant sunshine - perhaps spirits and buying inclinations will brighten as well in April as the market is supportive of Buyers acting now.


 
Single Family Detached Silo
 
The median listing price of a Chilliwack* single family house has dropped down from $369,900 to $359,900.
 
A competitive advantage for Buyers is present given a healthy inventory of 904 Chilliwack single family homes available as of April 1, 2013. Inventory levels increased by 6% in March and this trend will continue in the next few months- giving Buyers plenty of choice.

The lowest sale price in March is $16,000 and the highest $1,120,000; an incredible range, giving Chilliwack* flexible housing options for every Buyer.

The average selling price of a Chilliwack* single family detached house in March 2013 was $377,000 up from the $357,000 in February 2013. 

The median sale price was $364,000 considerably higher  than the $315,000 of a month earlier.

The list to sale ratio of 11% is slightly better than the 10% in February 2013 but still reflects a Buyer's Market.

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.

 


MONTH
Average Sale Price / Days on Market / Active Listings
March 2013 68 $377,000 68 904
Feb 2013 78 $357,000 68 805
March 2012 73 $357,000 78 n/a






Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
  • March 2013 - $364,000
  • February 2013 - $315,000
  • January 2013 - $329,500
  • December 2012 - $349,500
  • November 2012 - $317,000
  • 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 Chilliwack* Single Family Detached Real Estate Homes :
  • April 1, 2013 $359,900
  • March 1, 2013 $369,900
  • February 1, 2013 $359,900
  • January 3, 2013 $369,500
  • December 1, 2012 $363,500
  • 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

2013 - 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
2013 97% 68% 60%
2012 81% 67% 77% 77% 83% 70% 88% 54% 70% 88% 91% 80%
2011 85% 91% 75% 70% 68% 93% 74% 86% 86% 70% 86% 92%


Chilliwack* STRATA HOMES for March 2013



The sale of Chilliwack* Strata Homes, apartments, townhouses also improved over the February numbers with 71 sales in March compared to 56 a month earlier. Market strength which measures sales against a 10-year average improved to 89% - what this means is that over the past 10 years there has been an average of 80 unit sales in March and that this March's 71 sales was a respectable 89%.

The lowest sale was $38,000 and the highest $229,000.


The average selling price of a Chilliwack* Strata Homes in March 2013 was $205,000 down slightly from the February 2013 $208,000 average sale price.

The median sale price was $229,000 up from the $222,500 amount in February.

The list to sale ratio of  15.8 % was stronger as well; still a Buyer's sale advantage in townhouses and apartments in the Chilliwack* real estate market remains. Sellers should pay attention to their Realtor® recommendations and ask for market comparison updates on a 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
March 2013 71 $205,000 67 450
Feb 2013 56 $208,000 61 447
March 2012 73 $214,000 88 n/a

Median Sale Price of Chilliwack* Strata Homes:


  • March 2013 - $229,000
  • February 2013 - $208,000
  • January 2013 - $198,500
  • December 2012 - $200,000
  • November 2012 - $188,500
  • 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:


  • April 1, 2013 - $212,500
  • March 1, 2013 - $209,900
  • February 1, 2013 - $217,500
  • January 3, 2012 - $198,000
  • December 1, 2012 - $212,000
  • 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


2011 - 2013 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
2013 100% 81% 89%
2012 93% 78% 96% 70% 87% 85% 97% 67% 89% 76% 114% 82%
2011 100% 105% 85% 86% 84% 66% 66% 91%


Imagine living here ....then call Steve.

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.

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