Sunday, May 4, 2014

Chilliwack* Real Estate Review and Analysis April 2014



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 recorded 123 sales of single family houses and 86 sales of strata homes such as townhouses, and apartments in April 2014. A total of 237 residential properties representing a 33% increase in sales volume over March.  Very nice, especially in the strata residential market which had been lacklustre and returned to strength exceeding the 10-year average. 

This report divides Chilliwack* residential properties into two classifications; single family detached and strata.  There is often quite a difference in market vigour between the two classifications and for this reason I like to view them separately.


Spring has sprung a fresh new batch of "sold" signs.




Sales of Single Family Detached Houses

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 recorded a total of 151 sales of single family houses in April 2014.

The 151, Chilliwack* real estate board single family detached, sales were more than the March 2014 total of 123 - but traditionally, we expect fewer sales in March. 
  
A list to sale ratio of 17 % is up from 15% a month earlier indicating a competitive balanced market Chilliwack* single family detached homes.

Please remember to use the services of 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.

MONTHSales/Average Sale Price/Days on Market/Active Listings
Apr  2014151$346,00059907
Mar 2014123$339,00080855
Apr 2013130$340,00066n/a




Median SALE Price of Chilliwack* Single Family Detached Homes (SFD)
  • April 2014 - $341,500
  • March 2014 - $347,500
  • February 2014 - $339,000
  • January 2014 - $348,000
  • December 2013 - $334,500
  • November  2013 - $334,000
  • October 2013 - $321,000
  • September 2013 - $336,000
  • August 2013 - $309,500
  • July 2013 - $347,500
  • June 2013 - $349,500
  • May 2013 - $339,500
  • April 2013 - $338,000
  • March 2013 - $364,000
  • February 2013 - $315,000

       
    Median LISTING Price of active Chilliwack* Single Family Detached Real Estate Homes:
    • May 2, 2014 - $364,900
    • April 8, 2014 - $359,900
    • March 3, 2014 - $354,900
    • February 1, 2014 - $349,900
    • December 3, 2013 - $359,900
    • November 1, 2013 - $359,000
    • October 1, 2013 - $364,900
    • September 3, 2014 - $358,000
    • August 1, 2013 - $349,900
    • July 2, 2013 $359,900
    • June 4, 2013 $365,000
    • May 2, 2013 $369,900
    • April 1, 2013 $359,900


      2013 - 2011 Market Strength for Chilliwack* Single Family Houses

      Single Family House Monthly Unit Sales as % of a 10-Year Monthly Sales Average

      MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
      201494%100%82%95%







      201397%68%60%75%82%83%82%87%105%79%83%80%
      201281%67%77%77%83%70%88%54%70%88%91%80%
      201185%91%75%70%68%93%74%86%86%70%86%92%



      Sales of Strata Homes (Apartments, Townhouses etc.)

      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 recorded a total of 86 sales of strata homes (apartments, townhouses) in April 2014.


      NEW LISTING Adult 55+ Ranch $269,900


      The 86, Chilliwack* real estate board strata sales was a big improvement to the March 2014 total of 58.  The 86 sales were beat the 81 sales that would usually be expected for April based on a 10-year average.
        
      A list to sale ratio of 17% indicates that the market is moving from a Buyer's to a Balanced market for Chilliwack* strata homes. 

      Once again, please remember to use the services of 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.


      
      MONTHSales/Average Sale Price/Days on Market/Active Listings
      Apr  2014 86$218,00067512
      Mar  2014 58$240,00077512
      Apr  2013 59$198,00067n/a


      Median SALE Price of Chilliwack* Strata Homes:
      • April 2014 - $220,500
      • March 2014 - $243,000
      • February 2014 - $239,000
      • January 2014 - $216,000
      • December 2013 - $232,500
      • November 2013 - $202,000
      • October 2013 - $199,500
      • September 2013 - $212,500
      • August 2013 - $209,900
      • July 2013 - $231,500
      • June 2013 - $211,000
      • May 2013 - $211,000
      • April 2013 - $204,000
      • March 2013 - $229,000
      • February 2013 - $208,000



        Median LISTING Price of active Chilliwack* Strata Real Estate Listings:
        • May 2, 2014 - $214,900
        • April 8, 2014 - $219,000
        • March 3, 2014 - $219,900
        • February 1, 2014 - $219,900
        • January 2, 2014 - $212,500
        • December 3, 2013 - $214,900
        • November 1, 2013 - $214,900
        • October 1, 2013 - $214,900
        • September 3, 2013 - $194,500
        • August 1, 2013 - $212,000
        • July 2, 2013 - $213,900
        • June 4, 2013 - $214,900
        • May 2, 2013 - $210,000
        • April 1, 2013 - $212,500
        • March 1, 2013 - $209,900
        • February 1, 2013 - $217,500


        2011 - 2013 Strata Market Strength

        Strata Home Monthly Unit Sales as % of a 10-Year Monthly Sales Average

        MonthJanFebMarAprMayJunJulyAugSeptOctNovDec
        201490%66%72%106%







        2013100%81%89%73%87%99%84%85%79%108%68%90%
        201293%78%96%70%87%85%97%67%89%76%114%82%
        2011100%105%85%86%84%66%66%91%


        The information contained in this post has been prepared by the author Stephen Mullock, using information from the Chilliwack and District Real Estate Board.  The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed.

        In providing this information, neither Stephen Mullock nor the Chilliwack & District Real Estate Board assumes any responsibility or liability.

        Copyright © 2014 Stephen Mullock. All rights reserved. Reproduction in whole or part is prohibited without written permission.


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        Stephen Mullock
        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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